Category: Tech

The International Telecommunication Union (ITU) in partnership with Japan and Saudi Arabia, has launched Connect2Recover, which will reinforce affordable and reliable connectivity in beneficiary countries as they adjust to the “new normal”, occasioned by Covid-19.

The essence of the Connect2R​ecover​ is to help countries recover from COVID-19 by expanding access to affordable and reliable connectivity, especially in selected countries in Africa which are some of the least well connected and likely to be hit hard by the pandemic in socio-economic terms.

“ITU and the wider international community is transitioning from aiding countries with their immediate response to COVID-19 to helping countries prepare for and adjust to a ‘new normal’,” said ITU Secretary-General Houlin Zhao.

He said Connect2Recover represents ITU’s contribution by facilitating socio-economic recovery through the use of digital infrastructure, services and applications. Thanks to the generous support of the Japanese government and the Kingdom of Saudi Arabia.

COVID-19 has highlighted that digital infrastructure is not just a convenience, but an essential requirement for full-fledged participation in society and the economy. Broadband connectivity has proved vital in helping countries’ businesses and citizens adapt and respond to the pandemic, enabling them to access the latest health information and continue working, learning and socializing remotely.

Connect2Recover seeks to expand access to affordable and reliable connectivity, which is an essential aspect of countries’ COVID-19 recovery strategies.

Connect2Recover will consist of three key elements.

First, Connect2Recover will develop a methodology for identifying gaps and bottlenecks in the use of digital networks and technologies at country level: to respond to and mitigate the consequences of the COVID-19 pandemic as well as prepared for any similar emergencies in the future: and to enable recovery and readiness for the “new normal”.

Second, on the basis of this methodology, Connect2Recover will assist countries in assessing their needs, gaps and bottlenecks, and develop strategies to ensure that the digital infrastructure and ecosystems adequately support recovery efforts and the “new normal.” These strategies will be designed in line with global best practices, as well as with other relevant policy tools developed by ITU and other relevant organizations.

Third, Connect2Recover will conceptualize and implement pilot projects to test specific technological solutions in line with national country strategies and policies. The project will also undertake deep-dive studies in specific areas of digital policy as prioritized by the selected countries, such as digital finance, e-education, e-health, e-government, or teleworking

Broadband penetration rose from a meager 6 percent in 2015 to a whopping 42.02 percent in July 2020, the Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta has disclosed.

Danbatta disclosed this during an interactive session with the media where he also gave account of his stewardship as the Chief Telecoms Regulator in the last five years.

The increase in the broadband penetration in the last five years according to him is as a result of the diligent implementation of NCC’s Strategic Vision Plan (SVP), which focused on the 8-Point Agenda

“We are glad to report that Nigeria lifted broadband penetration from 6 percent in 2015 to 42.02 percent by July 2020,” he announced.

Rolling out other achievements in the last five years, the former University Lecturer revealed that the telecom sector’s contribution to GDP increased from 8.50 percent in 2015 to 14.30 percent in the second quarter of 2020, translating to N2.272 trillion financial contributions in the second quarter of 2020.

Also, five years ago, 217 access gap clusters were identified in the country affecting 40 million Nigerians without access to telecoms services. That has reduced to 114 with 15 million of the 40 million digitally excluded Nigerians now having access to telecoms services. The remaining access gap clusters, which are areas outside the frontier of the economic, will be addressed soon to ensure the remaining 25 million Nigerians have access.

In terms of Foreign Direct Investment (FDI), Danbatta admitted that FDIs, which stood at $1 billion 2015 in the telecom sector declined to $212 million by 2018. He, however, noted that through regulatory efforts, the FDI in the sector has picked up again reaching $930 million according to recent figures from the Central Bank of Nigeria (CBN).

The Bankers’ Committee of Nigeria in partnership with the Central Bank of Nigeria, has unveiled its cybersecurity & fraud awareness campaign, known as ‘Moni Sense’.

Moni Sense, is specifically designed to educate the general public on protecting themselves against cyber fraud and scams.

The partnership is seeking to comprehensively address fraud and cybersecurity issues by creating such awareness.

Speaking on the initiative, Mr. Emeka Emuwa, Chairman, Financial Literacy and Public Enlightenment Sub-Committee (FLPE), said;

“Fraudsters and scammers continually devise new ways to deceive the unsuspecting public; usually to lure them to inadvertently disclose confidential bank information. We encourage Nigerians to always be cautious; and also ignore any text message; as well as phone call; or email asking to update your bank information; provide sensitive bank details; disclose online banking details; debit card numbers; bank verification number (BVN) or PIN to anyone.”

Financial literacy and public enlightenment are a critical pillar of the Bankers’ Committee mandate; making initiatives like this critical to the goal of increasing the number of financially included citizens in the country.

With this initiative, the Central Bank of Nigeria (CBN) and the Bankers’ Committee of Nigeria aims to ensure Nigerians are empowered; with critical information and knowledge necessary to make important financial decisions; as well as enhance economic prosperity; also stay fraud aware and cyber safe; and likewise drive poverty reduction across the country.

In March 2020, the Central Bank of Nigeria (CBN) as well as the Bankers’ Committee introduced credit support schemes for households; MSMEs and also businesses across several sectors including Healthcare, Manufacturing, Agriculture, Trading, and Aviation.

The Bank unveiled a succession of targeted facilities starting with a N50 billion credit facility to support households, and also micro, small and medium enterprises (MSMEs); followed by another N100 billion credit support intervention for the health sector as part of efforts to combat the negative impact of coronavirus (COVID 19) on the Nigerian economy