By Gabriel Tosin Ayodele The Web3 Revolution: From Users to Owners For decades, digital users have been products rather than participants in the internet economy. Tech giants dictate terms, monetize data, and wield unchecked influence. Web3 changes this by introducing: Decentralized Identity and Ownership – Users gain control over their data, using self-sovereign identities and blockchain-based credentials rather than relying on corporate platforms. Tokenized Economies – Digital assets, powered by NFTs and blockchain-based tokens, allow creators and consumers to own and trade value directly. Smart Contracts and Trustless Transactions – Automation eliminates the need for intermediaries, making financial and business…
Author: DigitalTimesNG
Highlights of the report showed that the war on the ground between Russia and Ukraine continues to be accompanied by attacks targeting the spread of information.
Subscribers in South Africa, Nigeria and North African countries will increase adoption following the release of new spectrum, a trend triggered by the increasing use of high-bandwidth consumer applications and industrial use cases.
Director-General, National Information Technology Development Agency, NITDA, Kashifu Inuwa, has reiterated the Agency’s commitment to giving the startup ecosystem the needed support to boost the sector’s contribution to the economy and strengthen the value chain. Inuwa made the pledge during a dinner meeting with some key stakeholders of Lagos Ecosystem, including representatives from Microsoft, MasterCard, and Norebase, among others. While suing for trust, and strengthening the value chain deliberated on the best way to accelerate growth and support startups in the country, he said “there are lots of distrust within the government and the ecosystem, so much that the only…
By Elonna AGUH Pension benefits have over the years been a thorny issue government contends with. This was occasioned by the unfunded Defined Benefits Scheme of the public sector, with the attendant challenge on the government to contend with the payments of retirement benefits as captured in her annual budget. The annual budgetary allocation for pensions was often one of the most vulnerable items in budget implementation in light of resource constraints. There are instances where budgetary provisions were made but bureaucracy, occasioned by the untimely release of funds resulted in delays and a backlog of pension payment rights. It,…
-Says Fine Must Be Paid On Or Before August 30
10 customers of Fidelity Bank Plc have been rewarded with N1million each in the eight monthly draws of the bank’s Get Alerts in Millions season five promo (GAIM 5). The Promo Chairman and Executive Director, Lagos and South-West, Dr. Ken Opara, said at the prize presentation in Lagos recently that the promo was aimed at promoting financial inclusion. Opara said that the GAIM was introduced by the bank to support the Central Bank of Nigeria (CBN)’s financial inclusion agenda across the country. “Today, we would be presenting the sum of N1million each to Victor Chimela Ohanmuo and Sampson O. Onwunali,…
Stanbic IBTC Bank Plc has announced a partnership with Bento Africa, to offer more value to Nigerian businesses of all sizes. Bento Africa is a payroll and Human Resource Management (HRM) company with a mission to meet work wherever it happens expand broader access to a wider range of financial services and drive inclusion across the continent. Chief Executive of Stanbic IBTC Bank, Wole Adeniyi while speaking on the rationale behind the partnership, said that the bank was committed to delivering more digitalised value-added services to businesses and SMEs. “Every business we serve pays salaries and has employees, so the…
The Central Bank of Kenya (CBK) has announced the acquisition of 66.06 per cent shareholding of Daraja Microfinance Bank (Daraja MFB) by US-based fintech company UMBA. The announcement follows CBK’s earlier approval, under Section 19(4) of the Microfinance Act and approval by the Cabinet Secretary for the National Treasury and Planning, pursuant to Section 19(3)(b) of the Microfinance Act. UMBA fintech is incorporated in the State of Delaware, United States of America and has its headquarters in San Francisco, California. The company has operations in Kenya and Nigeria. In Kenya, UMBA operates a non-deposit-taking credit business through its subsidiary UMBA…
MIGA has issued guarantees covering a $200 million investment into companies providing digital financial services under the Airtel Money brand in 12 African countries. These companies provide access to financial services through mobile phones in a region where most people lack access to formal bank accounts. The guarantees were issued to The Rise Fund II Aurora S.à r.l. (The Rise Fund), which is making its investments through a parent company, Airtel Mobile Commerce B.V., into Airtel Money operating companies in Chad, the Republic of Congo, the Democratic Republic of Congo, Gabon, Kenya, Madagascar, Malawi, Niger, Rwanda, Seychelles, Uganda, and Zambia.…