Nigeria Internet Registration Association (NiRA)

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NIGERIA’S BIGGEST CONSUMER TECH FESTIVAL HOLDS IN DECEMBER 2019

Nigeria’s largest Technology market hub, Ikeja Computer Village, will host the biggest Consumer Technology Innovation Festival; Computer Village Expo 2019 from the 10th to the 14th of December 2019. The event, which plans to showcase tomorrow's cutting-edge consumer technology innovation, will feature the products and services which will shape and define tech lifestyles in 2020 and beyond.

Attendees from within and outside Nigeria will be treated to a wide range of gadgets, accessories and other allied products. The event is a collaborative platform between the Ikeja Computer Village Management Board and Technology Times Media Limited (the event organisers). An early bird offer to prospective exhibitors has already been announced and it is expected that this will catalyse the industry to participate.

CBN URGES FINTECH COMPANIES, PAYMENT SERVICE PROVIDERS TO ADHERE TO POLICY FRAMEWORKS

The Central Bank of Nigeria has urged Financial Technology companies, payment service providers and Deposit Money Banks engaged in offering payment solutions to customers to ensure they adhere to policy framework and standards that guide their respective operations in the ecosystem in which they operate.

Mr. Musa Itopa Jimoh, Deputy Director, Payment Systems Policy and Oversight, Central Bank of Nigeria, stated this recently in Lagos during the corporate launch of Xpress Payment Solutions Limited.

He explained that the CBN was trying to build an ecosystem that allows everyone to have equal opportunity to present and run their system, adding that Fintech was introduced into the payment system to deepen financial inclusion in Nigeria.

The event was witnessed by representatives of some state governments, Deposit Money Banks, Fintech organizations, e-payment industries, some of whom commented on the quality and reliable services provided by Xpress Solutions.

The Deputy Director was representing  Mr. Samuel Okojere, Director, Payment Systems Management Department, CBN, who said the CBN committed in 2011 to bring those that are outside the banking sector closer, hence the introduction of Fintech companies into the payment space. Okojere said: “CBN expects financial payment service providers to comply with set standards. He added that this is the only thing that can help the parties involved to integrate with global best practices and that without complying with regulation, they cannot connect locally. There are already laid down rules that guide financial services in Nigeria and also the world at large. Indeed, everyone as a player in the financial industry must ensure strict adherence to standards and rules of engagement.

SOURCE: Communication Week

NiRA AT FINTECH NIGERIA SOCIAL MEET 5.0

The Fintech Association of Nigeria held the 5th edition of its social meet in Lagos, Nigeria on the 29th of August 2019. The event was focused on the theme "Banks, Regulators, Fintechs & Self-Regulation: Are They Mutually Exclusive?".

Social meetup 5.0 was hosted by Sterling Bank Plc at her Ikorodu Road office. The evening event created opportunities for stakeholders in the Fintech ecosystem to explore the synergy between Regulators, Fintechs and Banks in the country. Discussions were held on how Fintech startups are transforming the Nigerian economy, opening new opportunities, disrupting the traditional financial industry and challenging the regulatory framework.

The discussants tried to gauge the reaction of the financial institutions in the country to the arrival of the Fintechs and their relationship. For some financial institutions, the arrival of the Fintechs pose a threat to their business as usual and opportunities as the activities of the Fintechs are improvement to their internal processes. There are direct competitions between Fintechs and the traditional institutions. The Fintechs are offering new and cutting edge products/services to their clients.  Some participants at the event offered the thoughts that it is best that the financial institutions and Fintechs exist in the same sphere, under some regulations/frameworks.

The Fintechs have also presented regulatory challenges as their mode of operation do not fit into the standard average financial institution regulatory frameworks. The regulators are now compelled to come up with new regulatory frameworks to manage the Fintechs.

The NiRA team was at the event to engage with the Fintech Nigeria community. There was ample opportunity to network with the participants and encourage the adoption of .ng domain names.

It was also an opportunity to encourage aspiring NiRA Registrars to initiate the process of accreditation.

PRESIDENT’S SPEECH

The .ng Registry is dynamic. As an organisation, the Nigeria Internet Registration Association (NiRA) is determined to continue to respond to the specific challenges of the DNS Industry in Nigeria, while striving to ensure compliance with international best practices.

Keeping in line with the above, it becomes imperative to regularly request feedback from the market, particularly from NiRA’s key stakeholders and review this in the light of existing policies. As a core focus of the present Executive Board’s tenure, we will continue this tradition with increased focus on NiRA policies as they affect the business of our existing Accredited Registrars and registrants, as well as new entrants into the market.

We are conducting a number of surveys from now, starting with the NiRA Accredited Registrars’ satisfaction survey. We hope to continue to receive responses from our Accredited Registrars. We have also commenced the process to review and update NiRA policies and her constitution, which will incorporate some of the recommendations from stakeholders. I am grateful for the time which members of the Executive Board and various Committees are spending to get this done as quickly as possible.

In the end, we serve majorly the Nigerian public in a unique way and are bent on ensuring that the online experience of all Nigerians is enhanced by .ng. Thank you.

Muhammed Rudman

President, NIRA Executive Board

CFA AT THE GERMAN BUNDESTAG (PARLIAMENT)

Mr. Chukwuemeka Fred Agbata (Jnr) (CFA), one of NiRA’s Executive Board of Directors was a guest to the German Bundestag (Parliament) on the invitation of Alexander Count Lambsdorff, MP to discuss Digitisation in Africa. CFA chose to appear as an African Prince and shared some of the pictures above.

CFA, as he is fondly called in Tech and Media circles, was the only African in the parliament on the 19th of September 2019. He shared on his “Sunday Updates” platform,  that even though his security clearance took a while, he made bold to own his space. Mr. Agbata described the experience as amazing and humbling. In his words, “the politics over there is indeed a different ball game”. Adding that Africa (particularly in the space he operates) has shown and continues to show enough hunger to want to solve some of the biggest problems the continent faces.

CFA promises to discuss the visit in detail in his next Punch Column. We look forward to benefiting from his wealth of experience as the Germans did.