The technological landscape of Nigeria's financial institutions is marked by both promise and challenges. While significant progress has been made in digitization efforts, the adoption of advanced technologies like artificial intelligence remains relatively low. Limited access to big data, computing infrastructure, and advanced analytics talent hinders progress, resulting in a predominant focus on basic digitization efforts.
The effective utilization of big data presents a transformative opportunity for financial institutions to enhance customer experiences, drive operational efficiencies, and foster sustainable growth in the digital era. Through strategic investments, robust governance frameworks, and collaborative partnerships, these institutions can chart a course toward success in the dynamic landscape of modern finance.
Security and Fraud Detection: Process video feeds from surveillance cameras, identify suspicious activities, and trigger alerts for security personnel. Prioritizing high-performance computing ensures operational reliability and speed, addressing bottlenecks that may cause transaction downtime on digital channels. Enhanced computing capabilities not only result in faster transactions and improved customer experiences but also drive operational efficiency and cost savings.
Given the current technological infrastructure landscape in Nigeria, it may be challenging to pursue a tripartite solution for big data, computing power, and algorithms; however, expanding computing power should be the primary focus for financial institutions. With the current intensity of the hot weather, only an activated Air Conditioning unit space would be livable enough to allow lively breath in and out during the day and a good bedtime sleep at night.With over 200 deaths to Lassa Fever in 2023 and 108 deaths so far in 2024, PAUL ADUWOKE writes on the causes and symptoms of the disease and the efforts of the Nigeria Centre for Disease Control and Prevention and other stakeholders to contain the current outbreak.
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Fuel subsidy costs Nigerian government N400 billion monthly, says Minister of FinanceThe Minister of Finance and Coordinating Minister of the Economy, Wale Edun, reveals that fuel subsidy is costing the Federal Government N400 billion monthly. President Bola Tinubu has declared the end of the fuel subsidy era to redirect funds towards developmental initiatives.
Source: DailyPostNGR - 🏆 11. / 59 Read more »
Lassa Fever Kills Four at Nigerian Army Reference HospitalThe Kaduna State government has confirmed that four people have died from Lassa fever at the 44 Nigerian Army Reference Hospital. Efforts are being made to contain the situation and monitor those who came in contact with the infected individuals. Additionally, one person has died in a new outbreak of Lassa fever in Rivers State.
Source: GuardianNigeria - 🏆 1. / 94 Read more »
Nigerian Government Identifying and Sanctioning Individuals Sabotaging EconomyMinister of Information and National Orientation, Mohammed Idris, says the Nigerian Government is identifying and sanctioning individuals sabotaging the economy. The minister noted that the removal of the petrol subsidy was one policy decision that all the three major candidates agreed on in their campaign messages. He said it was mystifying to see people who had argued stridently for the removal of subsidy now pretending to be against it, noting that such insincerity does not bode well for the country. Idris insisted that the President's policies are yielding positive results. He, however, said that the government was not under any illusion that the policies are silver bullets, or that nothing else is required. Stressing that the government will not allow its efforts to be jeopardised, the minister said regulatory and enforcement agencies have been working round the clock in the past few days to identify, investigate and sanction those involved in illegal activities and sabotage within the forex market
Source: DailyPostNGR - 🏆 11. / 59 Read more »
How demand for charcoal depletes forests in Nigerian stateParticipants at the workshop were trained in various farming techniques. Investing in veterans is important for building a stronger nation.
Source: PremiumTimesng - 🏆 3. / 78 Read more »
Nigerian Senate Warns Government Against Hiking Electricity TariffThe Nigerian Senate has warned the Federal Government not to hike electricity tariff under any guise, noting that doing so would worsen the plight of Nigerians.
Source: DailyPostNGR - 🏆 11. / 59 Read more »
Nigerian Government Blocks Online Platforms of Crypto FirmsThe Nigerian government has blocked the online platforms of Binance and other crypto firms to avert what it considers continuous manipulation of the forex market and illicit movement of funds.
Source: PremiumTimesng - 🏆 3. / 78 Read more »