TechPression

Tag: Nigeria

  • U.S. assists Nigeria with funds to boost internet access for 12 million people

    U.S. assists Nigeria with funds to boost internet access for 12 million people

    The Federal Ministry of Communications, Innovation and Digital Economy (FMCIDE) in Nigeria has been awarded a grant by the U.S. Trade and Development Agency on Monday to conduct a feasibility study on the possibility of providing internet access to 12 million people by installing new fibre optic backbone infrastructure throughout the nation. HIP Consult Inc., located in Washington, D.C., was chosen by FMCIDE to carry out the study.

    “As Nigeria and the United States deepen our cooperation in the technology sector, USTDA is proud to partner with FMCIDE to deliver concrete action in support of our shared digital infrastructure goals,” said Enoh T. Ebong, USTDA’s Director. “This project will help expand connectivity to Nigeria’s urban and rural communities while opening opportunities for trusted U.S. technologies to advance the country’s digital priorities.”

    Read also: Nigeria launches Technology Export and Digital Trade Desk to strengthen economy

    At the U.S. Department of State’s Inaugural U.S.-Nigeria Technology Dialogue, Director Ebong and FMCIDE Minister Dr Bosun Tijani signed the grant agreement.

    Plans to raise Nigeria’s broadband access from 42.27% to 70%

    Nigeria’s National Broadband Plan 2020–2025 would benefit from the study, especially its goals to raise the nation’s broadband penetration rate from 42.27 percent to 70 percent and guarantee that at least 90 percent of the population has access to reasonably priced, dependable broadband coverage.

    At least 90,000 km of new fibre optic backbone infrastructure will be deployed along the current national power grid, train, road, and oil and gas pipeline systems.

    To improve connection throughout Nigeria, including to underprivileged and difficult-to-reach communities, it will pinpoint gaps in the market for backbone infrastructure and create plans to close such gaps.

    Stakeholders express enthusiasm 

    Dr. ‘Bosun Tijani, Honorable Minister for Communications, Innovation & Digital Economy of Nigeria, said: “I am pleased to receive this grant from USTDA to fund this feasibility study which is a critical component of our plan to deploy 90,000 kilometres of fibre optic cable across Nigeria. This is a further testament to our long-standing cooperation between Nigeria and the United States in technology infrastructure development. I look forward to further collaboration and investments from partners in the U.S. government and private sector, especially in projects like these that support the growth of Nigeria’s digital economy.”

    Read also: NITDA to train 69,000 civil servants on digital literacy

    “This partnership exemplifies the strong and growing relationship between Nigeria and the United States in the technology sector,” said Deputy Secretary of State Kurt Campbell, who opened the inaugural technology dialogue. “By working together on this critical infrastructure project, we are not only enhancing internet access for millions of Nigerians but also creating opportunities for U.S. businesses to contribute their expertise and innovative solutions. This collaboration underscores our commitment to fostering economic growth and digital inclusion in Nigeria.”

    U.S. Ambassador to Nigeria Richard M. Mills, Jr. said: “The launch of the Fiber Forward Project marks a significant milestone in our ongoing partnership with Nigeria. By enhancing connectivity, we are not only bridging the digital divide but also creating inclusive economic opportunities for all Nigerians. This project will empower communities, foster innovation, and drive sustainable economic growth across the nation.”

    The support from USTDA is in line with the Administration’s priorities, which include the Partnership for Global Infrastructure and Investment, the U.S. Strategy Towards Sub-Saharan Africa, the Prosper Africa initiative, and the Digital Transformation with Africa initiative, which aims to increase access to an open, interoperable, dependable, and secure Internet.

  • Nigeria launches Technology Export and Digital Trade Desk to strengthen economy

    Nigeria launches Technology Export and Digital Trade Desk to strengthen economy

    Dr Bosun Tijani, Nigeria’s Minister of Communications, Innovation, and Digital Economy in collaboration with the Federal Ministry of Industry, Trade and Investment announced on Monday the launch of Technology Export and Digital Trade Desk.

    This is a major step in the country’s efforts to strengthen the technology sector’s economic contribution to Nigeria.

    The Minister noted that the establishment of the Trade Desk gives a solid platform on which to provide customised assistance to regional tech firms, allowing them to enter and compete in markets throughout Africa and beyond.

    “Trade, which is the 5th Pillar of our strategic blueprint, represents an opportunity for us to promote Nigerian technology export and the launch of the Trade Desk provides a strong foundation to offer bespoke support to local technology companies, enabling them to access and compete in markets across Africa and around the world,” he stated.

    Technology Export and Digital Trade Desk goal is to raise technology sector’s GDP to 21%

    The initiative’s ambitious goal is to raise the technology sector’s share of Nigeria’s GDP from the present 14–18 percent to 21 percent over the course of the following three years.

    In order to promote innovation, entrepreneurship, and global competitiveness, the Desk also intends to increase yearly investment for Nigerian companies from $1 billion to $5 billion during the same time frame.

    The creation of this Trade Desk, which will offer a wide range of initiatives, collaborations, and policy-driven interventions, is also in line with Nigeria’s goal of raising its standing in the Economic Complexity Index (ECI), demonstrating the nation’s dedication to expanding its trade and strengthening its place in the global digital economy.

    Read also: NITDA alerts Nigerians: Beware of holiday season scams in online shopping

    Whitepapar: Growing the contribution of the tech ecosystem to Nigeria’s GDP

    Attached to the Minister’s statement is a whitepaper document which lays out the Trade Desk’s entire concept and comprehensive roadmap.

    He stated, “I am pleased to share the whitepaper – “Growing the Contribution of the Technology Ecosystem to Nigeria’s GDP – A Case for the Technology Export and Digital Trade Desk” which outlines the full concept and detailed roadmap of the Trade Desk with you and welcome your thoughts and feedback on the document, as we operationalise it over the next few weeks.”

    This endeavour is vital to the President’s overall plan to build a $1 trillion Nigerian economy supported by foreign commerce, investment, and innovation.

  • NGX Group invests in Ethiopia’s new Securities Exchange, boosting Africa’s financial growth

    NGX Group invests in Ethiopia’s new Securities Exchange, boosting Africa’s financial growth

    The Nigerian Exchange Group Plc has invested in the newly established Ethiopian Securities Exchange, describing the investment as a vote of confidence in the development of Africa’s financial markets.

    NGX’s investment in the Ethiopian Securities Exchange demonstrates its dedication to building Africa’s financial ecosystem and overall economic growth.

    Temi Popoola, the Group Chief Executive Officer of NGX Group, spoke at the launch of ESX on January 10 in Addis Ababa and emphasised the potential of ESX for the financial ecosystem of Ethiopia and Africa. According to him, the exchange is a crucial tool for market liquidity, capital development, and long-term economic expansion.

    Read also: Ethiopian Securities Exchange launches with Wegagen Bank as first listed entity

    Needs for improved regional collaboration 

    To fully achieve the continent’s economic potential, Popoola stressed the necessity of improved regional cooperation, government-private sector synergy, and creative market solutions.

    The significant investment made by NGX Group in ESX highlights its leadership in developing the capital market infrastructure of Africa.

    Popoola elaborated on NGX Group’s investment justification, highlighting Ethiopia’s enormous market potential and the two countries’ common goal of promoting economic progress via innovation.

    “Our investment in ESX transcends traditional parameters; “It is about ensuring that ESX evolves into a key player in Africa’s financial ecosystem, enabling cross-border investments and setting benchmarks for market development,” he said.

    “The launch of ESX represents a pivotal moment for Ethiopia and the broader African financial landscape,” Popoola added. “ESX will serve as a crucial mechanism for capital formation and market liquidity, driving sustainable economic growth.”

    Popoola also made comparisons to successful nations around the world, such as India, which has significantly transformed its economy by utilising its capital markets. He underlined how crucial it is to open markets responsibly in order to draw in both domestic and foreign investment. “By following this path, Ethiopia can become a financial hub in Africa,” he remarked.

    Milestone in the country’s economic modernisation process 

    Prime Minister Abiy Ahmed of Ethiopia called the launch a turning point in the nation’s economic modernisation process.

    While announcing the Exchange’s launch on X, the Prime Minister stated, “Today, we have officially rung the bell to launch the Ethiopian Securities Exchange, our nation’s first stock exchange. This is a call to global investors: Ethiopia offers immense potential, a fast-growing economy, and a clear trajectory toward shared prosperity.”

    The Ethiopian Securities Exchange’s CEO, Tilahun Esmael Kassahun, expressed confidence in the collaboration with NGX Group.

    “We are pleased to welcome NGX Group as a strategic partner, building upon the existing support we continue to receive from them,” he said.

    Read also: Ethiopian Securities Exchange, raising $234 million in IPO

    NGX’s expertise in shaping ESX’s growth

    Additionally, Kassahun underlined the importance of NGX Group’s experience in influencing ESX’s expansion and prosperity.

    Popoola offered advice on broadening access to investment options and diversifying financial instruments based on the 60 years of experience of NGX Group.

    “With the right mix of innovation, policy support, and regional collaboration, Ethiopia’s capital market can play a transformative role in driving economic development and establish itself as a leader in Africa’s financial ecosystem,” Popoola concluded by affirming his confidence in ESX’s contribution to Africa’s economic growth.

    NGX Group’s participation underscores the vital role that collaborations and pooled knowledge play in furthering Africa’s economic narrative, as the ESX is set to transform Ethiopia’s financial scene.

  • Nigerian fraud-related slangs 419, Yahoo Boy added to Oxford English Dictionary

    Nigerian fraud-related slangs 419, Yahoo Boy added to Oxford English Dictionary

    Nigerian fraud-related slangs Yahoo, 419, and Yahoo boy are among the 20 new words added to the Oxford English Dictionary (OED), underscoring the growing prevalence of internet scams orchestrated by some individuals in Nigeria and shedding light on a deeper issue of young people scheming their way to wealth.

    The OED’s latest update, released January 7, includes not only yahoo, 419, and yahoo boy but also japa, suya, agbero, and 15 other Nigerian words, highlighting the unique contributions of Nigerian English to the global lexicon.

    Dr Kingsley Ugwuanyi, a World English Researcher and Nigerian consultant for the OED, played a key role in the inclusion of these words. He shared his excitement on X and LinkedIn celebrating this milestone.

    Read also: Olumayowa Akinkuehinmi: How Nigeria can overcome infrastructure barriers to boost DevOps adoption 

    “I’m thrilled to announce that the @OED has officially published its latest updates, featuring an amazing collection of #NigerianEnglish words that beautifully reflect Nigeria’s culture, creativity, and the unique ways we express ourselves as Nigerians. #Nigeria 🇳🇬,” he wrote.

    Dr Ugwuanyi explained that he was not only responsible for drafting most of the entries but also provided their pronunciations.

    “This time, I not only drafted most of the words but also had the incredible opportunity to provide their #pronunciations! So, when you explore the OED online and click on the pronunciations, you’ll hear my #voice bringing these words to life,” he revealed.

    Words that made the list

    The newly added words highlight the vibrancy of Nigerian English. They include:

    419: Defined as “fraud (now usually perpetrated on the internet) involving requests for advance payment in return for a substantial share of a large amount of money, which ultimately is never given.”

    Yahoo boy: A person who engages in internet fraud.

    Yahoo or yahoo yahoo: “Fraud perpetrated on the internet.”

    Adire: “A type of fabric produced mainly in south-western Nigeria, featuring patterns obtained by applying indigo or other dyes.”

    Kobo: “A monetary unit of Nigeria equal to 1100 of a naira.”

    Agbero:  “a person (usually a boy or young man) who works as a tout, typically at car parks and bus stops, collecting money from passengers and drivers, and ushering passengers onto vehicles.”

    Naija: “Of, belonging to, or relating to Nigeria or Nigerians.”

    Japa: A term used to describe Nigerians emigrating to other countries in search of further education or better opportunities.

    Read also: Microsoft expands Phone Link: iPhone-to-PC file sharing

    Suya: A popular Nigerian snack made from thinly sliced, spiced, and grilled or roasted meat, typically sold by street vendors.

    Eba: A staple food made from cassava flour.

    Abi: A colloquial expression meaning “isn’t it?” or “right?”.

    Jand: Used as a noun, verb, or adjective, referring to travelling abroad, especially to the United Kingdom, as in “janded accents.”

    Gele: “A West African head-tie originally worn by Yoruba women, typically consisting of a stiff piece of fabric printed with designs in bright colours, which can be tied or wrapped around the head to form various shapes.”

    Other entries include , Edo, Kanuri,, cross-carpet, and cross carpeting.

    Capturing Nigerian culture

    The OED defines area boy as a “person, usually a young man, who gains money or influence through criminal activities like extortion, theft, or drug dealing, often as part of a gang.”

    Yarn is described as “to tell a story,” while yarn dust means “to talk nonsense.”

    These additions reflect the growing global recognition of Nigerian English as a rich and evolving variety of the language, deeply rooted in the culture and experiences of Nigerians.

  • LemFi expands to Europe, offering Nigerians zero-charge cross-border payments

    LemFi expands to Europe, offering Nigerians zero-charge cross-border payments

    LemFi, a rapidly growing cross-border payment platform, officially launched in Europe on Wednesday, January 8, 2025, marking a major milestone in its history. With over 1 million users and more than $33 million in disclosed funding, the company is redefining the remittance landscape.

    “Nigerians in Europe can now send money home with LemFi,” the startup shared with customers. “Your family and friends in Europe, especially in Italy, France, and Spain, can now enjoy quick and direct transfers home at the best rates with zero transfer fees.”

    Read also: LemFi secures Central Bank of Kenya’s approval for remittance services

    LemFi’s trajectory growth

    LemFi was founded in 2020 by Rian Cochran, a European and Ridwan Olalere, a Nigerian. It began operations in Canada after obtaining the readily available MSB licence there. Its first recipient market was Nigeria, one of the top 10 countries in the world for remittances.

    In 2021, LemFi announced plans to expand its sending markets to the UK and receiving markets to Ghana after raising $725,000 in a pre-seed round.

    The company’s growth accelerated in 2022 following a seed round and the $2.5 million acquisition of UK-based e-money issuer RightCard Payment Services Limited. This acquisition allowed LemFi to connect with ClearBank, a UK and European-licensed bank, enabling it to offer accounts to UK consumers and store funds directly on its app.

    Read also: BOG grants LemFi approval to resume operations in Ghana

    LemFi’s Africa expansion

    In February 2023, the business added Senegal, Ivory Coast, Benin Republic, Cameroon, Tanzania, Rwanda, and Uganda as recipient markets, greatly expanding its African remittance network.

    With Kenya joining in June 2023, LemFi now serves 10 African destination markets, including Ghana and Nigeria.

    A key milestone was achieved in August 2023 when LemFi debuted in the U.S. market after obtaining an IMTO license in July 2023 for incoming remittances to Nigeria. As the largest provider of remittances to Nigeria, the U.S. is a vital market for LemFi.

    A United Nations report on worldwide migration claims that for the past thirty years, the United States has been the most popular destination for migrants.

    In 2020, 13 percent of the US population was immigrant, and the US was the greatest provider of remittances to Nigeria, accounting for more than 20percent of all remittances to the West African country.

    In 2023, LemFi processed $2 billion in transactions annually, generating $20 million in income at a 1 percent net take rate.

    LemFi has recently expanded into Europe as part of its aggressive plan to establish a strong send-and-receive remittance network. It is a major force in the international remittance market thanks to its creative strategy, customer-focused features, and solid alliances.

  • Nigerians should brace for hike in telecom tariffs, but not by 100%: Minister Tijani

    Nigerians should brace for hike in telecom tariffs, but not by 100%: Minister Tijani

    Dr Bosun Tijani, Minister of Communications, Innovation, and Digital Economy, announced on Wednesday at a stakeholder meeting in Abuja that telecom tariffs will soon rise.

    However, he clarified that the increase would not match the 100 percent hike requested by telecom operators.

    He said that discussions and engagements were ongoing to reach a fair rate and that the Nigerian Communications Commission (NCC) would soon approve the new tariffs and make them available to Nigerians.

    Read also: Airtel Nigeria CEO pushes for tariff increase to ensure telecom sector’s sustainability

    He stated, “You have seen over the past weeks that there has been agitation from some of these companies to increase tariffs. They are requesting a 100 percent tariff increase, but it will not be 100 per cent. We are still looking at that study and NCC will come up with a clear directive on how we will go about it.”

    “We want to strike the balance as a government to protect our people, but also protect and ensure that these companies can continue to invest significantly. We need to ensure that as a sector, we get our acts together, ensure that from the regulation side, we put the right regulations in place that can ensure the growth of this sector,” he emphasised.

    Government to invest in telecom infrastructure 

    The minister added that the federal government will no longer rely solely on private enterprises to fund infrastructure projects in the sector.

    He continued, “As a country, over time, we have left these investments in the hands of the private sector. They typically invest where they can see returns in the short to medium term.”

    “We will not want this conversation to just be about tariff increase. I think what the world is talking about today is meaningful connectivity. You want to have access to very good quality service.”

    “A part of it that the consumers may not be aware of is the investment that needs to go into the infrastructure that is used to deliver these services,” he said.

    About telecom’s sustainability

    According to Dr Aminu Maida, the NCC’s Executive Vice-Chairman (EVC), the purpose of the stakeholder gathering was to discuss the industry’s sustainability.

    “We have looked at all of these factors, and that is why, as the Minister said, it is not likely that we are going to approve a 100 per cent tariff increase,” he stated.

    “I know that Nigerians are agitated to hear the exact percentage approved. There are still some stakeholder engagements that we are going through, but you will hear from us within a week or two,” he assured.

    He said that by updating its quality of service rules, the NCC had implemented a variety of methods and instruments to ensure service quality compliance.

    Read also: Airtel Africa commences second share buyback program, aims to return $100 million to shareholders

    Nigerians must know the cost of service

    According to EVC Maida, MNOs must use streamlined templates to display to Nigerians the costs per minute for SMS, voice calls, and megabytes of data.

    He stated, “We are moving away from the regime where you will have a main rate, then you will now have a bonus which is at a different rate. It makes it often complicated for Nigerians to understand what they are being charged for.”

    “This is one of the things when we took a lot of time over the past year looking at data. There is this agitation that the MNOs are stealing our data,” he said.

    Tariff increases are necessary to support the telecom’s commitment to providing better connectivity and promoting digital inclusiveness, according to Dinesh Balsingh, CEO of Airtel Nigeria, who was represented by Femi Adeniran, spokeswoman for Airtel media.

    He said, “The economic realities of rising operational and capital costs necessitated the proposed tariff adjustments.”

    “This is aimed to ensure the long-term sustainability of the sector while unlocking significant benefits for Nigerian consumers,” he said.

  • SEC vows to stamp out Ponzi schemes, bolster Nigeria’s commodities market in 2025

    SEC vows to stamp out Ponzi schemes, bolster Nigeria’s commodities market in 2025

    In 2025, the Securities and Exchange Commission (SEC) has committed to further up its efforts to combat pyramid and Ponzi schemes while simultaneously concentrating on growing Nigeria’s commodities market.

    In a New Year’s address to the capital market community over the weekend, SEC Director-General Dr Emomotimi Agama revealed this, according to a statement released on Sunday. He emphasised that protecting investors continues to be a key component of the Commission’s mission.

    The statement read, “The Securities and Exchange Commission has emphasised that protecting investors remains a cornerstone of its mission assuring that the commission will intensify efforts to stamp out Ponzi and pyramid schemes while paving the way for legitimate investment opportunities to thrive in 2025.”

    Read also: CBN, SEC approve FCMB’s N147bn rights offer, attracting over 42,000 investors

    SEC DG expresses optimism for 2025

    Agama voiced hope for the future, pointing out that market integrity, investor trust, and economic growth will be given top priority on the SEC’s 2025 agenda.

    He described the year as crucial for integrating the Nigerian capital market into the larger economy and restated the Commission’s dual purpose of growing and regulating the market.

    “Enforcement is the backbone of effective regulation. We are revamping our investigative processes to enhance efficiency and hold bad actors accountable more decisively,” he said.

    He continued, “Insider trading undermines activities and dampens market fairness. By revising our regulatory framework, we aim to strengthen detection, prevention, and accountability mechanisms.

    “Transparency is at the heart of investor confidence and capital markets. We will introduce measures to ensure greater visibility and trust in securities transactions.,” he emphasised.

    Enforcement as the backbone of effective regulation 

    The head of the SEC emphasised enforcement as the cornerstone of successful regulation and presented measures to restructure the Commission’s investigative procedures to increase effectiveness and firmly hold corrupt actors responsible.

    The SEC is updating its regulatory framework to combat insider trading, improve transparency, and foster confidence in securities transactions, he continued.

    The SEC is improving the Investments and Securities Tribunal’s operations to guarantee prompt and equitable settlement of market disputes, Agama further declared.

    Read also: Central Bank of Egypt increases limits on withdrawals, transfers for financial inclusion accounts

    Goals to boost investors’ confidence 

    According to him, the goals of these reforms are to increase investor trust and enhance market efficiency in general.

    The growth of Nigeria’s commodities market is a key area of attention for the SEC in 2025.

    To realise the full potential of the market, Agama emphasised the significance of utilising the nation’s rural economy.

    He clarified that the Commission will fortify the legal and regulatory structure to establish a thriving commodities ecosystem that encompasses both hard and soft commodities.

    He stated, “The commodities market is indeed a major area of interest for us at the SEC. Nigeria is purely an agrarian nation, and as such, taking that comparative advantage to the next level is something that the SEC is proud to be a part of.”

    “It is a vital part of the Nigerian economy. This year, we will focus on reinforcing the legal and regulatory structures that support growth so we can create a solid foundation for the vibrant commodities ecosystem. Be it a soft commodity or a hard commodity.”

    “More so, when we have a plethora of commodities all over Nigeria. The SEC, as a partner in development, will make sure that we will make the difference,” he said.

    Support for economic growth 

    Agama reaffirmed that the SEC wants to use Nigeria’s diverse range of commodities to support economic development to significantly impact the commodities industry.

    According to him, the commodities market is an essential component of Nigeria’s economy and a major area of the commission’s attention.

    Agama highlighted the SEC’s dedication to creating a more inclusive capital market by 2025.

    To realise its goals of wealth creation, increased confidence, and economic progress, he urged stakeholders to work together with the Commission.

  • WOFAN empowers 680,000 Nigerian farmers with training, technology and mechanised tools

    WOFAN empowers 680,000 Nigerian farmers with training, technology and mechanised tools

    The Women Farmers Advancement Network (WOFAN) on Saturday announced that it has empowered over 680,000 community partners across nine states in Nigeria within just two years. 

    Founded by Hajia Dr. Salamatu Garba in 1993, WOFAN has focused on transforming the lives of rural women and youth through innovative technology and sustainable agricultural practices.

    Read also: Safaricom partners with JICA, Lersha, Hibret Bank to empower 10,000 Ethiopian farmers

    Leveraging technology for agricultural growth

    WOFAN has embraced technology as a vital tool in enhancing agricultural productivity. The organisation recently onboarded 500 agricultural extension workers, equipping them with Android tablets loaded with data collection and analysis software. 

    This initiative aims to provide farmers with real-time technical advice based on research, helping them make informed decisions about crop production and processing. 

    Dr Garba emphasised the importance of accurate data: “The intended impact of this training is to build a strong relationship between the extension workers and the farmers.”

    In addition to training, WOFAN has distributed over 450 pieces of mechanised farming equipment, including treadle pumps and solar-powered sprayers, to farmers across ten states. 

    These tools are designed to reduce labour intensity and improve efficiency in farming operations. 

    Mr Attahiru Musa, a village head, shared his excitement: “This is the first time I’ve seen a solar sprayer compared to the manual ones we used before. The solar sprayer will save farmers time, stress, and money.”

    Read also: SMART Zambia introduces eKYC to enhance security and efficiency in identity verification

    Empowering communities through training

    WOFAN’s commitment extends beyond providing equipment and focuses on capacity building through comprehensive training programs. 

    Participants learn about Good Agronomy Practices (GAP), safe pesticide use, and practical farm management strategies. These training sessions enhance agricultural skills and foster community engagement among farmers.

    Dr Garba highlighted that these initiatives are part of a broader strategy funded by the Mastercard Foundation to empower 675,000 youths across Nigeria over five years. 

    The project aligns with the foundation’s Young Africa Works strategy, which seeks to enable millions of young people to secure dignified employment opportunities.

    As WOFAN continues its mission, integrating technology into agriculture remains a priority. By equipping farmers with knowledge and tools, WOFAN is paving the way for sustainable agricultural practices that uplift entire communities and improve livelihoods across Nigeria.

  • Germany launches e-Visa application for Nigerians, others to attract 400,000 skilled workers

    Germany launches e-Visa application for Nigerians, others to attract 400,000 skilled workers

    Nigerians and other applicants from around the world can now apply for visas online thanks to the opening of a portal by German authorities.

    Germany’s Federal Foreign Office made this announcement in a statement on January 1.

    “The Consular Services Portal is being launched worldwide today, 1 January 2025, enabling people around the world to submit applications for German visas online,” the statement reads.

    The statement directed eligible individuals who intend to work, study, or visit their family in Germany to apply online for 28 different types of national visas.

    Read also: Thailand launch e-Visa application for Nigerians, Ghanaians, other African nations

    Germany’s online visa application portal to meet demands for 400,000 skilled workers 

    The online visa application portal is a good step that will help Germany meet its demand for talented workers, according to Foreign Minister Annalena Baerbock.

    She said, “Every year, Germany is short of at least 400,000 skilled workers. 400,000 clever minds and even more agile hands to keep our country running – in the skilled crafts sector, in the care sector, in tech companies. Our national economy is also in a global competition to attract trainees, apprentices, and students.”

    “At times like these, we cannot afford to downright put the best off coming here to roll up their sleeves because of long paper application forms and even longer waiting periods. At times like these, as one of the biggest economies and as a modern country of immigration, we need a national visa process that is state-of-the-art – modern, digital and secure,” Ms Baerbock explained.

  • CBN speaks on exit of 1,000 staff, N50 billion severance plan

    CBN speaks on exit of 1,000 staff, N50 billion severance plan

    The Central Bank of Nigeria (CBN) has clarified that the 1,000 employees who left their positions in December 2024 did so voluntarily, not under any compulsion.

    CBN Governor Olayemi Cardoso provided this clarification on Friday in Abuja during an investigation session by the House of Representatives ad-hoc committee, which was looking into the reasons for the staff departures and the process used to determine the N50 billion severance payment.

    Read also: CBN mismanaged N2.73 trillion interest on Ways and Means: Auditor-General Chira

    Disengaged staff resigned through the Early Exit Program 

    The disengaged employees participated in the voluntary Early Exit Program, which offered full benefits for those who chose to resign.

    Bala Bello, Deputy Director, Corporate Service of the CBN clarified, speaking on behalf of Cardoso. “The Early Exit Program, Restructuring and Re-organization “are basically ways and means through which the performance of an organization is optimised by ensuring that round pegs are put in right holes. The manpower requirement of the bank is met.”

    He continued, “I’m very happy to mention that the early exit program of the CBN is 100 per cent voluntary. It’s not mandatory. Nobody has been asked to leave, and nobody has been forced to leave. It’s a completely voluntary programme that has been put in place.”

    Exercise not limited to government agencies 

    Bello also pointed out that such restructuring efforts are not unique to government organizations, noting that similar exercises are being carried out by both private and public sector organisations globally.

    Read also: CBN unveils whistleblower website to tackle misconduct in Nigeria’s financial sector

    “I believe several organisations across the world, and even within this country, both in terms of the private sector and the public sector, are undertaking similar exercises.”

    Governor Cardoso elaborated on the rationale behind the exercise, explaining that over time, stagnation and lack of career progression could occur within organisations. In the case of CBN, he highlighted that a narrowing of the organisational pyramid, with too many individuals at the same level, could create challenges. He stressed that while employees may be qualified and willing, they could face stagnation when there are no vacancies at higher levels.

    The committee, led by Chairman Bello Kumo, is expected to present its findings to the House of Representatives.

    He said, “In the past, we had instances in which cases of stagnation and lack of career progression appear. In an organisation, you’ve got a pyramid where from each level to the next level, the gap keeps narrowing. If not, you are going to have a quasi-organisation, an inverted pyramid.”