Business
AfricaNXT 2022: NCC Pulls the Largest Gathering, Says 5G is Safe
…Highlights 5G’s Socio-Economic Benefits
AJAGBE ADEYEMI TESLIM
Sponsored by: H&H
The conference had scheduled over 200 sessions and about 400 speakers. However, NCC session was oversubscribed as all seats were occupied, while some participants had to stand to listen to the discussion on a topic that patently enthused and electrified the audience, and marked by very rare social networking and participation.
On Thursday, March 3, 2022, the NCC team mounted the FutureNow Stage of the Innovation Pavilion of the Conference to inform, educate and rally further support for the Commission’s strides on the preparedness of Nigeria to deploy the Fifth Generation (5G) network and services. Using simple, fact-based examples, the NCC’s 5-man panel, provided necessary clarifications to the audience on the safety of 5G technology and gave copious examples about how the technology will significantly impact life qualitatively and bring socio-economic benefits to the citizens, businesses, the nation, and the continent of Africa.
The panelists extensively discussed 5G technology, focusing on safety, data privacy, the chronology of programmes, actions and activities of the Commission towards the launch of the services, including the issuance of 3.5 gigahertz (GHz) spectrum and licence for 5G deployment, the rollout plans, use cases as well as citing concrete socio-economic significance of the expected services.
The NCC team explained to the excited audience how 5G will power a plethora of applications, innovation and creativity. These include smart cities, telemedicine, Internet of Things (IoT), smart agriculture, driverless cars, bolstering of the security governance sector, among others. The team asserted that 5G is a network of networks because of its huge capabilities, and its derivable benefits can only be limited if humans limit their own imaginations.
Reckoning that 5G technology is a total shift from the internet connectivity people are used to at the moment, the panel stated that 5G would open doors of new possibilities and socio-economic impacts. “With 5G, there is something for everyone. Nigeria is kick-starting these massive benefits with enhanced broadband. 5G will bridge the fibre connectivity gap and with wireless broadband connectivity, Nigerians will enjoy the enhanced broadband.” A member of the panel stated to emphasize enhanced connectivity that comes with 5G technology.
The discussants also agreed that telecom operators will reap huge benefits from 5G in many ways, through network slicing, new revenue streams from IoT, industrial applications, gaming and entertainment as well as live broadcast features supported by 5G amongst others.
The NCC team comprising specialists in engineering, law and communications, also said that 5G will power more than a billion devices in the next two years, and this means there will be upsurge in the manufacturing of related user equipment which is expected to bring down the prices of associated devices and equipment. The process is also expected to trigger utilisation of raw materials such as rare earth metals that are found in large quantities in Africa, and cities will equally benefit from the 5G enabled infrastructure such as smart street lighting, smart traffic control systems, maintenance services and so on that will deliver huge economic gains.
Explaining NCC’s efforts and plans on consumer safety in the 5G era, discussants recalled that the Commission was already working closely with the Office of the National Security Adviser (ONSA) to develop a Risk Management Frameworks. The framework will grow the need for the ethical hacking skill set and allow the use of ethical hacking as part of risk management towards ensuring the cyber space safety during 5G era.
Additionally, the panel informed the audience that NCC had established a sectoral Computer Security Incidents Response Team (CSIRT) to work with the telecoms operators to reduce risks on the cyber-attacks and data breach. The Centre, inaugurated in 2021, has been collaborating with the national agency, the Nigerian Computer Emergency Response Team (ngCERT), towards enhancing the security of the cyber space and privacy of citizens. These strategic collaboration, for which NCC is noted, will now be boosted by the Nigeria Data Protection Bureau, recently established by the Federal Government.
While explaining the security, safety and speed characteristic of 5G, the panel reasoned that, while 4G has a response time of 10 millisecond, equivalent of the capacity of human brain, 5G network is even faster. Therefore, the high-speed feature of 5G will make it unlock greater opportunities that will enhance human productivity for the development.
“The latency of 5G, which measures its response time, is 1 millisecond, while that of 4G is measured at 10 milliseconds. While 4G can accommodate 100,000 device connections in one square kilometre, 5G can connect a million devices within the same space, and thus, power Internet of Things (IoT). Also, 5G peak data rate is 20 gigabits (GB) per second for download, and 10GB for upload, which is higher than 100 megabytes (MB) per second download and 50MB upload offered by 4G network.”
The panel allayed fears of health concerns, propelled by “misconceptions, disinformation, misinformation and malinformation”. The panel informed the participants that the apprehension was unnecessary. It cited research-based evidence from the World Health Organization (WHO), International Telecommunication Union (ITU), and the International Commission on Non-Ironising Radiation Protection (ICNIRP), to prove the safety of 5G network to human health.
The panel explicated further that Nigeria can indeed begin to create smart cities, an ecosystem powered by 5G applications. The massive speed of 5G, according to the discussants, will also enhance the capacity of start-ups and other tech entrepreneurs to leverage the enabling environment powered by the fast connectivity, to develop unlimited solutions for the benefit of Nigeria and her citizens.
According to the panel, an enhanced broadband that allows low latency and facilitate billion of connections in machine-to-machine communication certainly holds a big promise for socio-economic growth and development.
When asked if the country was ready for 5G, the panel declared that, “Nigeria is ready for 5G because the NCC has been supported by key stakeholders to make Nigeria ready. The Commission has built the regulatory foundation, the deployment plan has been designed and various exercises have been carried out up to the level of handling over 5G Spectrum licences to the operators.”
Meanwhile, the panelists also emphasized the centrality of collaboration among state and non-state actors to drive the ecosystem. They contend that, as with other previous technologies, such as 1G, 2G, 3G and 4G, efforts must be made for all stakeholders to glean and exploit the massive use cases of 5G for socio-economic development.
While rounding off the highly engaging session, the moderator thanked the co-panelists for their diligence and painstaking engagements, and the audience for its interest, enthusiasm and solidarity. He reiterated the unflinching commitment of NCC to doing all within its regulatory powers to ensure data security and data protection. He also underscored the need for sustenance of collaborative efforts among tiers of government and all other stakeholders to ensure effective utilization of 5G services across all sectors.
The well-attended panel discussion, which focused on, “Moving Forward Steadily: Socio-Economic Significance of Development of 5G Services” was moderated by NCC’s Head of Online Media, Dr. Omoniyi Ibietan. Other panelists are: Babagana Digima, Team Lead, Nigeria Office for Developing the Indigenous Telecoms Sector (NODITS); Usman Aliyu, Head, Space Services; Anthony Ikemefuna, Head, Fixed Networks and Converged Services; and a Senior Manager in the Legal and Regulatory Services Department of the Commission, Dr. Mohammed Suleh-Yusuf.
The AfricaNXT Conference is the largest assemblage of innovators from across Africa and Africa’s Diasporan communities. Formerly known as Social Media Week Lagos, the confab and festival, now in its 10th Year, is an annual event that takes place in Lagos, focusing on harnessing Africa’s potentials for her development, using the dual agencies of human creativity and the promises of technology.
Business
Fidelity Bank Supports Modupe Cole Memorial School, Lagos
Fidelity Bank Supports Modupe Cole Memorial School, Lagos
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
In continuation of its drive to alleviate the impact of economic hardship and suffering among indigent Nigerians, Fidelity Bank Plc recently donated food items to Modupe Cole Memorial Childcare and Treatment Home School in Akoka, Lagos.
CAPTION:
L- R. Tolulope Rojaiye, Team Member, Brand and Communications, Fidelity Bank Plc; Osho Olufunmilayo Bamidele, Vice Principal 2, Modupe Cole Memorial Childcare and Treatment Home School; and Victoria Mbonu, Class President, Intellect Nexus Inductee Class, Fidelity Bank Plc; during a Corporate Social Responsibility (CSR) donation event executed by Fidelity Bank at Modupe Cole Memorial Childcare and Treatment Home School, Akoka, Lagos recently.
The donation which aligns with the Bank’s Corporate Social Responsibility (CSR) pillars of education and health, was championed by the Intellect Nexus Class of 2024 under the Fidelity Helping Hands Program (FHHP). Through this initiative, Fidelity Bank staff identify community needs, raise funds to address them, and receive matching support from the bank to implement impactful projects.
Explaining the bank’s commitment to supporting its host communities, the Divisional Head, Brand and Communications Division, Fidelity Bank Plc, Dr. Meksley Nwagboh, noted that, “At Fidelity Bank, we recognise the symbiotic relationship we have with the communities where we operate. This informs our decision to not only provide our host communities with relevant financial services but to also impact them with developmental projects.
“We are inspired by the great work being done here at Modupe Cole Home School and our donation is a small token of appreciation for this as we aim to support the well-being of these exceptional children.”
On his part, the Vice Principal of the school, Mr. Isiaka Ajani, expressed gratitude for the bank’s consistent support noting that Fidelity Bank’s gesture is a huge encouragement to the school.
“We say thank you for the gift items that you have brought to us today, and this shows that we are not alone in the mission to provide care and education to children with special needs.
“This institution is a testament to the belief that there is ability in disability. We have children here who have passed common entrance examinations and gained admission into higher institutions despite their challenges. It is our mission to help them achieve their potential.
“The school had made effort to provide academic and vocational training programs in bead-making and hairdressing, and specialized care for residents with severe disabilities for its 476 residents, many of whom have been abandoned by their families.” He stated.
Fidelity Bank is a full-fledged customer commercial bank with over 8.3 million customers serviced across its 255 business offices in Nigeria and the United Kingdom as well as on digital banking channels.
The bank has won multiple local and international awards including the Export Finance Bank of the Year at the 2023 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, the Best Payment Solution Provider Nigeria 2023 and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards; Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023; and Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.
Business
Access Bank to Host Pioneering Africa Trade Conference in Cape Town
Access Bank to Host Pioneering Africa Trade Conference in Cape Town
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
Access Bank PLC is set to host its first-ever Africa Trade Conference (ATC), a landmark event focused on advancing Africa’s economic transformation under the theme, ‘Empowering Africa Through Trade, Innovation, and Sustainable Growth’. Scheduled for March 12, 2025, in Cape Town, South Africa, the conference is poised to bring together the most influential voices in trade, finance, and policy to address the future of commerce across the continent.
With Africa’s trade finance gap estimated at $81 billion annually, the conference aims to tackle the systemic challenges hindering trade, particularly for SMEs and domestic firms. By fostering collaboration among key stakeholders, the Conference will explore innovative solutions, sustainable trade practices, and strategies for expanding African economies into global value chains.
Roosevelt Ogbonna, Group Managing Director/Chief Executive Officer, Access Bank PLC, emphasised the importance of the Africa Trade Conference, in addressing these pressing issues. “The Africa Trade Conference represents a crucial step in redefining Africa’s trade potential. By creating platforms for dialogue, innovation, and actionable solutions, Access Bank is enabling African businesses to connect and thrive in the global economy.”
Access Bank’s presence across 24 countries globally, including 16 in Africa, provides a unique advantage in facilitating inter- and intra-African trade. The Bank’s growing network positions it as a key player in addressing trade complexities and promoting inclusive growth across the continent.
Seyi Kumapayi, Executive Director, African Subsidiaries, Access Bank, highlighted the broader vision of the forum, saying, “The Africa Trade Conference is a platform to not only address Africa’s trade challenges, but to champion the continent’s opportunities. Through strategic partnerships, tailored financial solutions, built on the ethos of sustainability, we are paving the way for Africa’s businesses to take their place on the global stage.”
This flagship event will convene a distinguished line-up of seasoned speakers, and top executives from leading international banks, Development Finance Institutions (DFIs), and captains of industry in Africa.
The ATC will also shine a spotlight on the transformative potential of the Africa Continental Free Trade Area (AfCFTA), which aims to reduce trade barriers, enhance infrastructure, and integrate African economies into global trade networks.
Furthermore, the event will explore critical themes shaping the continent’s economic future, including the transformative role of digitisation and innovation in global trade, solutions for overcoming trade barriers to enhance market access, as well as sustainable trade practices and innovative financing models, thereby providing a comprehensive roadmap for advancing Africa’s position in global commerce. Please visit https://africatradeconference.accessbankplc.com/ for more information.
Business
Union Bank Rewards 360 Customers with N21 Million in First Save and Win Palli Promo 4 Draw
Union Bank Rewards 360 Customers with N21 Million in First Save and Win Palli Promo 4 Draw
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
Union Bank, Nigeria’s leading financial institution, has kicked off its Save and Win Palli Promo 4campaign on a high note following the announcement of its first set of winners in its inaugural monthly draws.
The first live draw of this season, which took place at the Bank’s Head Office in Marina, Lagos, rewarded 60 customers with ₦100,000 each. Additionally, 300 other winners went home with ₦50,000 worth of gift vouchers during the inaugural live draw, which was conducted transparently and digitally under the supervision of relevant regulatory bodies. The winners cut across the nation.
Speaking at the first monthly draw, Gloria Omereonye, Union Bank’s Area Business Executive for Lagos Island 1, stated, “Union Bank is always dedicated to rewarding customers for their loyalty and financial discipline.
We are pleased that our promo has continued to achieve its noble goals of providing succour to our customers through our gifts and rewards, especially in these economically trying times, while facilitating a sustainable savings culture for future goals and objectives.”
Save & Win Palli Promo is a nationwide campaign designed to reward both new and existing customers with cash prizes. Season 4, which began in December 2024 and runs until May 2025, offers customers the opportunity to win ₦131 million in cash prizes, Motorcycles, Tricycles, Fuel Vouchers, and a star prize of ₦5 million, which will be handed out to three lucky winners at the grand finale.
Open to new and existing customers, the Save and Win Palli Promo requires participants to save a minimum of ₦10,000 and perform a minimum of five transactions monthly to qualify for draws. Monthly winners can receive ₦100,000, while quarterly draws will reward lucky savers with Motorcycles, Tricycles, and other exciting prizes.
Customers who save in multiples of ₦10,000 will increase their chances of winning.
New customers can join the promo by downloading the UnionMobile app to open an account or visiting any Union Bank branch.
Existing customers can reactivate accounts by calling the 24-hour Contact Centre at 07007007000 or visiting a branch.
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