The Role of Fintech in Accelerating Financial Inclusion in Nigeria

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The Nigerian financial sector has significantly grown in leaps and bounds; thanks largely to technology. Currently, banks’ services have been automated. Customers are no longer required to visit their brick and mortar branches to perform any transaction.

With their smartphones, they can process local and international transactions. These are exciting times for the Nigerian banking sector as the long hours spent at the bank have been greatly reduced. This laudable effort means that fintech has a key role to play in boosting financial inclusion in Nigeria.

As a result of technology, a fintech platform like Jumia Pay and others are disrupting the way banking business is done. Now, it seems like the banks are playing catch-up.

Although Nigerian banks are exploring and exploiting fintechs to improve their services, they are not taking advantage of it as quickly as the private firms whose services are entirely online.

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Services Offered by Fintechs

The edge that fintechs like Jumia Pay and others have over the banks are in the services they offer. Many Nigerians and businesses are trooping to fintechs because of the flexibility of their services. This does not necessarily mean that they have abandoned the banks.

There are some key services that make fintechs stand out or unique. They include:

(1) eCommerce payment: online retailers can now seamlessly pay for their orders, thanks to the payment gateway service offered by fintechs. To make payment easy for its millions of customers, Jumia, Nigeria’s no 1 shopping destination launched Jumia Pay. This has enabled every Jumia customer to pay for transactions across the Jumia ecosystem

(2) Loans: When it comes to loans, the fintechs are far ahead of banks. Without collateral, you can apply for a loan and receive it within 24 and 48 hours. They also have a flexible payment plan. As an entrepreneur, you may need a loan to shore up your business, you can apply for Jumia loan and you can go and sleep because the repayment plan is the best in the Nigerian fintech world.

(3) They also provide mobile money transfer and Unstructured Supplementary Service Data Services.

The services of these fintechs are not only restricted to persons in Nigeria’s urban areas, but they are also accessible to many in rural communes. This is because they are willing to go where the banks are not necessarily ready to. Of course, we know that there are millions of unbanked Nigerians in the countryside.

Now, you find small payment kiosk or stores in these rural areas where you can perform different transactions including sending and receiving payment. And if you do not want to visit the stores, they can simply download the Jumia One app to buy a prepaid card, pay for a subscription and perform many other financial transactions.

All these activities combined are in one way or the other helping to promote financial inclusion. Even though there is so much to do, these baby steps are significant to close this gap.

#Twitter Thread: Now that AU has recognized our role in fighting Ebola in Africa,We must Immortalize Stella Adadevoh and Justina Ejeleonu – By @mcginger22

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Four years later,  African Union has remembered to present me and my colleagues with Medal of Honor for stopping Ebola in Nigeria, Sierra Leone , Liberia and Guinea; I dedicate this to Dr Stella Ameyo Adedevoh and Justina Ejelonu. You guys are the real heroes, you died for us all.

Adadevoh stopped Patrick Sawyer. He made calls, she also made calls, pulling the right strings to stop him from plunging into the population and spreading the deadly virus.

She contracted Ebola in the process and died a most painful death. It was like self sacrifice. She had organ failures,  kidney shut down, multiple seizures and strokes, profuse bleeding, heart failure and later on death. She died for Nigeria.

Adadevoh has not been properly honored by her country where as every year politicians troop into Abuja to share national honors for doing practically nothing whereas real heroes are ignored.

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Nurse Justina Ejelenu worked with Stella and also contracted the disease in the line of duty . She died without doing anything for herself or her family. No one remembers her.

We arrived Abuja after 6 months of risking our lives in West Africa to stop the menace few days after Jonathan had lost the presidential election in 2015, no one paid any attention to us any longer.  All the initial plans to honor us was thrown out of the window.

The new regime took no interest whatsoever and till today not even a handshake from a local government chairman not to talk of monetary anything.

Politicians share billions each time they are leaving office after mindless self help to the national purse . Yet those who worked for the nation are never rewarded.

This regime has not as much as said a word to us talk less of recognizing our contributions.

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The day we arrived Sierra Leone everyone was happy , they said we were from Nigeria and we had the magic . They sent us to worse hit areas and we went to duty patriotically. We did our best and Ebola stopped . The country took the whole accolade without even saying a word to us.

The African Union has casually tossed medals to us without any ceremony. I went to Port Harcourt to pick up my piece from a junior staff of the state ministry of health who asked me to sign off on a piece of paper and be gone.

There were only two persons in the room. Nobody bothered with me. It was even the staff who told me that some people who picked up the medal earlier had tested it and that it was not even real gold so is probably worthless.

I spent my money and time to pick a piece of garbage after risking my life for Africa. I felt like a fool while leaving dejectedly.

This reminds me my experience in the field. An American passed out while we were on duty and I helped to resuscitate him. He was later diagnosed of Ebola and I quarantined myself. Few days later I developed fever and noticed blood in my toilet.

I asked my colleagues to send a letter to African Union that I may have contracted the deadly disease . Till today I never got any response. I stayed in self quarantine for 21 days without a word from Africa that I was fighting for.

My contemporary was airlifted to USA in a matter of moments but I survived by the grace of God or share luck . Never spoken to . Never tested . Never nothing. Being African is shitty. I don’t know if am a survivor or not . I just know that my life is worth nothing.

I dedicate this medal, though probably worthless to healthcare workers from Africa who died for their continent but were never appreciated or even recognized.

I live in hope that one day our land shall experience the kind of leadership that would value those who sacrifice for her and reward those who make genuine efforts.

For now, I am just in severe pains.

God bless Africa!

God bless Nigeria!

Nigeria vs Burundi: Super Eagles eyeing AFCON 2019 opening victory over Swallows

– Nigeria vs Burundi AFCON 2019 opening clash will see both teams battle for first three points in the group

– Super Eagles are making their return to the tournament for the first time since 2013

– Gernot Rohr’s men have an edge over their opponent having beaten them in their only previous meeting 2-0 in 1999

Nigeria’s Super Eagles kick off their campaign for the 2019 Africa Cup of Nations title against Burundi at the Alexandria Stadium on Saturday, June 22. The three time African champions will be hoping they can announce their return with a good performance having missed out of the last two editions. Nigeria emerged victorious in South Africa in 2013 against all odds under late coach Stephen Keshi, and they head into this tournament in Egypt as one of the favourites.

This will be the second time these two teams will be meeting in all competitions after their maiden clash ended 2-0 in favour of the Eagles. Garba Lawal and Finidi George were the goal scorers in the match which was staged at the MKO Abiola Stadium on January 24, 1999.

Nigeria are favourites to win this evening’s opener owing to the array of foreign based superstars coach Gernot Rohr listed for the tournament.

Meanwhile, Samuel Kalu gave the team a scare after collapsing during one of their training session earlier on Friday.

Though, initial report said the Bordeaux attacker suffered a heart attack in the process, counter report claims he only collapsed due to dehydration. However, he is better now and will await doctors confirmation before returning to training with the rest of the team, but apart from that, all other players are in good shape.

On the other hand, the Eagles team will have to watch out for Stoke City star Saido Berahino, who seems to be the top star for coach Olivier Niyungeko’s side. He plays alongside Oghenekaro Etebo in the English Championship and scored three goals in 23 topflight appearances for his club side.

Another player to be wary off is Mohamed Amissi, who plays for NEC Breda in the Netherlands, while Elvis Kamsoba features for Melbourne Victory in Australia.

Nigeria are in the same group as Burundi, Madagascar and Guinea – a group many feels should not be hard for the Super Eagles to progress to the next stage but other countries will also put up a fight to reach the next round.

Venue: Alexandria Stadium

Time: 6pm Nigerian time

Referee: Bernard Camille (Seychelles)

Women’s World Cup: Five things Super Falcons need do to beat Germany

It took until the last moments of the group stages of the 2019 FIFA Women’s World Cup for the Falcons to take up flight and qualify for the second round of the tournament, where they will face Germany on Saturday.

With all anxiety following Chile versus Thailand encounter and the melancholy that seemed to envelope most Nigerian hearts as the Chileans started scoring in the second half, our qualification came with a huge sigh of relief.

This was especially when the referee blew the final whistle as Chile could not get the third goal that would have knocked out the Falcons. But now they are here and the Germany challenge must be construed as that against France.

In order to have a chance against the two-time world champions, they must replicate all the good things they did against France and South Korea and try as much as possible to eliminate all the mistakes they made in their three group matches.

Create more goalscoring chances

In the three matches played so far, the Falcons had just three attempts on target – an average of one a game, a truly dismal stat for any team looking to be successful.

The two goals scored by the Falcons have been an own goal and a solo goal – no team goal and seemingly no actual goal-scoring plan.

To beat Germany on Saturday, the Falcons will need to score some goals. From the three matches, it looked more like hit and miss attempts.

The trio of Asisat Osoala, Ordega, and Desire Oparanozie must work more in tandem to create more scoring chances for one another though they will need some help from the midfielders.

Play a more compact game

Against France, the Falcons did not concede the first shot on target until the 65th minute as the central defenders – Onome Ebi and Osinachi Ohale were very disciplined in charging and closing down spaces immediately it developed in front of them.

But the trio of Ngozi Okobi, Rita Chikwelu, and Halimatu Ayinde must get help from the flank players like Francesca Ordega.

Whilst the Falcons have become more compact, they also need to be proactive to recognise where danger portends.

Their opponents are a wily and experienced bunch, who have made 56 scoring attempts and 25 have hit the target.

Don’t give away corners and set plays

In the 4-0 victory over South Africa in their last group game, the Germans scored two headers – one direct from a corner.

The fourth goal was also created from a set play after a header rebounded off the post for a tap in.

The other was a goalkeeping mistake.

For the Falcons to stand any chance of getting to the quarterfinal, they might need to completely shut out the experienced Germans, who are yet to concede in France, whilst scoring six times.

Osoala must give much more

Though she has scored a beautiful goal in France, her overall output has been below average.

Her touch, anticipation, and teamwork are sorely lacking, as she seems to be playing for herself.

But she must recognise that as the star player of the team, there is a great responsibility on her shoulders to instigate her mates to play better.

She can lead this team but it must be by action and not words.

Disciplined in tackle

One poor characteristic of the Falcons, nay African teams on the world stage, one the Germans will try to aggravate is the penchant for rash tackles.

In as much as VAR has been deployed to get important decisions right – there is no adjudication for two yellow cards as against a straight red card.

With an average of almost 13 fouls per game, the Falcons are playing in dangerous territory.

There have been just two red cards in the tournament so far – both shown to African teams and both second cautions.

The coach, Thomas Dennerby, believes his team is at par with any of the teams in the top 20 ranked teams by FIFA.

“I think the Nigerian team is definitely so much better than the ranking,” the former Sweden coach told FIFA.

“Everyone can see from our performances that we are not acting like a team ranked 38. It’s a good team. We can play any team between 10 -20 and win the game. And play very close games with the 10 best also. So yes, we are a world-class team.”

He now needs his players to believe this assessment and to give a world-class performance against the former world champions.

Credits: Culled from Premium Times – https://www.premiumtimesng.com/sports/sports-features/336358-womens-world-cup-five-things-super-falcons-need-do-to-beat-germany.htmlulle

Law Weekly: 5 Reasons You Need To Register Your Trademark In Nigeria

5 Reasons to register your trademark in Nigeria

A trademark is a word, phrase, symbol or design, or a combination of words, phrases, symbols or designs, that identifies and distinguishes the source of the goods of one party from those of others.

Once  registered, it enables the trademark owner to amongst other things- take legal action against anyone who uses the registered mark without permission, sell and/or license the registered trademark (so in a sense it becomes an asset), and allows the owner to legally put the ® symbol next to the brand – to show ownership and warn others against using it.

In Nigeria, the legislation, which governs the registration of trademarks, is the Trade Marks Act (and the Trade Mark Regulations made pursuant to it). The government agency in Nigeria that is in charge of the registration of trademarks is the Trademarks, Patents And Designs Registry, Commercial Law Department, Federal Ministry Of Industry, Trade And Investment. Applications are made to the Registrar of Trade Marks.

This Department is charged with the duty of dealing with applications for the registration of trademarks, and other connected matters.

Nigeria is a party to the Nice Agreement and under this agreement, Trademarks are classified under 45 classes. Therefore, a trademark must be registered under the most relevant class.

 

Who can process a registration?

Under Nigerian law, only accredited individuals/companies can register trademarks. So if you are interested in registering your trademark you will need to hire the services of accredited agents for this process.

 

What is eligible for registration?

  • Device, brand, heading, label, ticket, name, signature, word, letter, numeral, or any combination thereof;

For it to be eligible for registration in NIgeria it must contain or consist of at least one of the following essential particulars –

  • the name of a company, individual, or firm, represented in a special or particular manner;
  • the signature of the applicant for registration or some predecessor in his business;
  • an invented word or invented words;
  • a word or words having no direct reference to the character or quality of the goods, and not being according to its ordinary signification a geographical name or a surname;
  • any other distinctive mark

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Requirements for Trademark registration in Nigeria

  • Applicant’s details
  • Trademark Information
  • The full range of goods covered or proposed to be covered by the trademark.
  • Power of Attorney/Authorization of Agent

 

Here are 5 reasons why you need to register a trademark in Nigeria:

  1. TRADEMARKS REPRESENTS THE BRAND IDENTITY OF YOUR COMPANY/BUSINESS

You need to protect your brand and identity and the way to do it is to register your trademark in order to stake your ownership. When choosing your brand you need to make sure it is actually available and does not infringe on anyone’s existing trademark. This process is different from when registering a company and conducting a name search. It is always advisable to get a lawyer to conduct a name search at the CAC and a trademark search. Failing to research a brand before adopting can lead to denial of registration by the Trademark registry or, worse, a cease and desist letter from another brand owner. Spending the time, money, and effort up front to determine whether a brand is available will help avoid the very high costs of a dispute or litigation. In deciding what your brand should be, always remember, the more you differentiate your brand, the easier and better it will be to protect it. You should choose a name and logo that is distinct and unique.

 

  1. TRADEMARKS ARE AN ASSET

A potentially valuable asset. They can appreciate in value over time (or depreciate in value). A few examples of worldwide trademarks that have appreciated in value over time include – ‘Apple’, ‘Facebook’, ‘Coca-Cola’…a few that have depreciated in value include – ‘Enron’, ‘MMM’ etc. The more your business reputation and customer base grows, the more valuable your brand will be and  can lead the way for expansion from one industry to another. So even if you decide not to register your trademark when you originally set out in business, you should definitely make it a priority as your business grows. Not only is the value of a brand in the brand name, it can also relate to actual monetary value. Companies sometimes license out their brands to 3rd parties, in fact that is how franchising works. Company A builds a brand and a business, then decides to licence the brand to a 3rd party who sets up their own business using Company A brand name. Examples of worldwide brands built on this franchise model are Starbucks, McDonalds, Subway, KFC, and yes…Mr. Biggs. So you should definitely consider registering your trademark if you want to make it an asset you can sell or licence!

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  1. TRADEMARKS  LAST FOREVER   

Although when you register your trademark in Nigeria it is valid for an initial period of 7 years, and then for further renewable 14-year periods. There is no limit on how many times you can renew it. You can technically own your trademark forever. Some of the most recognized brands in the world today have been around for over a hundred years. Mercedes was first registered in 1900. Pepsi-Cola was registered in 1896. So if you want to build a business dynasty that could potentially be in existence in the next century….register your trademark today!

 

  1. TO PROTECT YOUR BRAND IDENTITY ONLINE AGAINST CYBER SQUATTERS 

If a cyber squatter is infringing on your trademark by registering it as a domain name, evidence of registration of your trademark can swiftly assist you in claiming the domain. The Nigeria Internet Registration Association (NiRA) is the administrator of, and the non-governmental self regulatory body for the .ng ccTLD and its associated sub level domain names. They deal with domain names that end in .ng or .com.ng or gov.ng etc. A certificate of trademark registration (or evidence of registration) is sufficient grounds to show evidence of abusive registration or use in bad faith, as laid out in the Dispute resolution policy of the NIRA. What this means is if you have a business – Jagbajantis Music (not a real company…at least as far as we are aware), and you register the trademark. Then someone comes along and registers the domain- jagbajantismusic.ng (not a real website), you can make a complaint at the NIRA for the registration of the domain to be transferred to you, and you can use your trademark registration certificate to make this complaint.

This protection also extends beyond domain name, you can also use it to secure your brand on social media. The social media networks like Facebook, Twitter, Instagram and other social media sites have policies in place to protect you against abuse – someone grabbing your company name and misrepresenting your brand can result in suspending the account.

 

  1. IT IS A RELATIVE INEXPENSIVE INVESTMENT

When you consider the immense benefits (as discussed above). If you would like to register a Trademark in Nigeria, you may find out more about the process by reading the Trademark Registration Frequently Asked Questions.

 

Trademark FAQ

 

CREDITSThis article is culled from lawpadi.com

If you have any suggestions or feedback from this article or ideas on future articles you think we should research and write, please send us an email at contact@lawpadi.com

Why Rural Inhabitants Need to Embrace Digital Payments

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The economy of Nigeria’s countrysides and hinterlands is still cash-based due to no fault of anyone. In fact, there are still some rural communities in this country that still transact business using the trade by barter method. A recent report by the News Agency of Nigeria says that the Esuk Mba community market in Akpabuyo Local Government Area of Cross River is still practising trade by barter as a means of exchange for food items since it was established in 1956.

This simply reveals that there is still so much work to be done to ensure that the inhabitants of rural Nigeria embrace digital payments method. However, this does not mean that efforts are not being made to promote digital payments. For example, today some fintech companies have gone ahead to establish small kiosk in rural communities in order to boost financial inclusion. This kiosk has made it possible for people to receive and transfer money for a small fee and perform other e-transactions.

When it comes to shopping online, rural dwellers still prefer to pay with cash. However, with the incentives and topnotch security offered by Jumia Pay, the payment gateway of Jumia, rural shoppers are growing confident about making payment online. This, in one way or the other, is contributing to the need to ensure that the entire Nigeria economy becomes cashless. There are a whole lot more other reasons to push digital payments in rural areas. Read on to know more.

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Lower risk

If stolen, it is easy to block a debit card or mobile wallet remotely, but it’s impossible to get your cash back. In that sense, the digital option offers lots more security. There is no reason for you to carry millions of naira around when you have a pocket or wallet size card which you can use to transact business at any time of the day. And with smartphone prices dropping according to the Nigeria Mobile Report published by Jumia, more people in the rural areas will be able to afford them.

Convenience

The ease of conducting financial transactions is probably the biggest motivator to go digital. You will no longer need to carry wads of cash, plastic cards, or even queue up for ATM withdrawals. It’s also a safer and easier spending option when you are travelling. It will be especially useful in case of emergencies, say. You have the freedom to transact whenever and wherever you want. You don’t have to be physically present to conduct a transaction or be forced.

Tracking expenses

If all transactions are on record, it will be very easy for people to keep track of their spending. This is impossible to do in a cash-based economy where a paper is used to record almost every transaction. But with digital payments, you only need your username and password to log in and you will be viewing your expenses history in a matter of seconds.

Discounts

There are so many rewards for performing digital transactions. It’s, therefore, a good time to increase your savings if you take advantage of these. For instance, you’ll get 5% cash back when you pay for your subscription using Jumia One. It is all about being smart while shopping online.

Budget discipline

The written record will help you keep tabs on your spending and this will result in better budgeting. Various apps and tools will help people analyse their spending patterns and throw up good insights over a couple of years. Controlled spending could also result in higher investing. If the same amount of cash does not flow back into circulation and people continue to use mobile wallets and cards, it is also likely to save more by cutting down on small expenses.

5 Tips to Maximise Opportunities at a Career Fair

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When was the last time you attended a career fair? Do you look out for job fairs or ignore them? Here’s a warning to you – The ease of online job applications should not make you ignore career fairs and viable ways of landing a job.

A career fair also referred to as ‘employment fair’ or ‘job expo,’ is an event were organisations, employers and recruiters find employable job seekers to take up immediate openings or job opportunities in the future within their respective organisations.

Every year, Jobberman partners several organisations to organise or provide support at their career fairs. Jobberman Nigeria recently partnered with Elevation Church Nigeria for its 2019 Career Pro career fair aimed at up-skilling job seekers, providing them mentorship as well as bringing available job opportunities to them.

If you are not attending career fairs available to you as a job seeker, you are missing out on great learning and networking opportunities. Let’s take a look at how to maximise your chances at a career fair.

Create An Elevator Pitchcareer fair

An elevator pitch is a brief statement that helps you introduce yourself to spark intrigue and interest in your listener. They must never be sugar-coated but true and authentic. An elevator pitch should help communicate your unique selling point, skills and qualification, help you engage and leave them wanting to drive the conversations forward. Ensure that you create an elevator pitch and practise your delivery of same for the career fair you plan to attend.

Don’t Attend Without Your Resume

A Resume vs CV is very well different in size, length and content but for career fairs, regardless of your level of experience, Resumes would do a rather good job for you than a CV. The reason for this in the brevity of the Resume. This would allow recruiters and organisations interested in you scan through your CV.

Research Whom Will Be Attendingcareer fair

Research both the organisation and likely speakers who will be attending the career fairs. This would help you do a background check to learn more about them. For organisations, it would inform you better about their vision, mission and goals but more importantly, prepare you if there are interview opportunities with them or help you request internships.

Researching the personalities and speakers for the event would prepare your mind on ways to network or approach or even ask questions that would unlock industry insights, internship opportunities if there are any at their organisations or any other information that can help you find a job. Be prepared to make the best of any available opportunities.

Get Your Networking Game Up

Most job seekers we have encountered are usually shy do not exude enough confidence when it comes to selling themselves. You need to take your networking game some notches higher if you plan to attend career fairs. At this point, we would ask you to use what you have but do not misconstrue this to mean doing anything unprofessional. Therefore, if you are shy, please be shy confidently. Sell your skills and you might land that opportunity or a connection that would lead to one. Remember the popular saying which goes: “A closed mouth is a closed destiny.” So, please, network.

Follow Up After the Career Faircareer fair

The final piece of advice on how to maximise career fair opportunities is to do a follow-up within 24 hours after attending the career fair. The follow-up itinerary would be different depending on the outcome on the relationship you created with a prospective employer, recruiter or mentor.

For mentors, ensure you contact them via less personal and informal channels like a DM or Chat app. You should be formal in all your approach and follow them across the social media platforms. Send a ‘thank you’ email, call or SMS and stay in touch but don’t become a pest.

For employers or recruiters, send a ‘thank you’ email and you may attach your CV stating you are available for immediate opportunities or internship or when they have one. Be strategic in your approach.

Reasons Why Nigeria is a Great Destination For Doing Business

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Nigeria is the biggest economy in Africa with a Gross Domestic Product (GDP) of $1.121 trillion as well as the largest population in the continent with over 190 million inhabitants. Hence, it is a viable and profitable destination for doing business despite the herd of challenges.

This is reflected in the success stories of not only indigenous companies but also foreign businesses that started small, weathered different kinds of storms, became market leaders in their various fields and are now full-fledged Nigerian or African companies.

A good example is Jumia, the no 1 shopping destination in Nigeria, which started in the country in 2012. Over a period of 6 years, the eCommerce company has grown and expanded to 13 other countries in Africa and now offers different services and product lines to tens of thousands of customers. Amazingly, ‘this Nigerian company’ recently became the first African tech company to list on the New York Stock Exchange, the world’s largest stock exchange.

To a great degree, there are so many good reasons why Nigeria is an awesome destination for business. We discuss some of these reasons.

Over 100 million customers waiting for you

There are over 190 million people resident in Nigeria and the Nigerian population is predicted to overtake that of the United States by 2050. Now what this means, in essence, is that the market is big enough to absorb any legal product, provided enough marketing and awareness is created. So, you can bring your money to Nigeria and be rest assured that you have waiting customers.

Nigeria is booming with entrepreneurial energy

If you know anything about the Nigerian business culture, you know that it is filled with a resilient and entrepreneurial spirit. Lagos, Nigeria’s mega-city, plays an important role in most businesses’ marketing strategy in Nigeria. Lagos’ contribution to the continent’s GDP makes it the 7th ranked economy in Africa – higher than the GDP of countries such as Kenya and Ethiopia. Business owners and entrepreneurs in Nigeria deal with so many unique challenges while running their Nigerian business that they have adopted innovative business models to work around potential pitfalls accordingly. In fact, most foreign nationals who come to Nigeria for business begin to realize that conducting business in the country is an opportunity to partake in a very energetic and bustling marketplace.

Lucrative new IT opportunities

Information Technology presents significant growth opportunities in Nigeria. These possibilities are endless because it is a relatively new industry literally ‘begging’ for investment. A company like Jumia which has offered a lot of opportunities for young Nigerians to make money, has attracted investments from global companies that believe in the mission and vision of the company. And with the government introducing policies to support the ICT industry which is the future, it is a bottomless pit for any investor willing to take the leap of faith.

Nigeria boasts a young and growing urban population

Of the over 190 million citizens in Nigeria, a large number of them are less than 30-years-of-age. The fact that the majority of Nigeria’s population is so young presents a lot of opportunities for companies looking for new markets with receptive customer bases. A youthful population poses other advantages, such as a larger workforce and a growing consumer class. Since brand loyalty is an aspect of Nigerian culture, having the opportunity to appeal to a younger generation in an effort to develop long-term customers is ideal. Also, with the growing urbanization and increased internet access due to extensive mobile connectivity, companies will be able to tap into an emerging consumer base.

Nigeria is a strategic testing ground for businesses in Africa

For companies looking to perform well in Africa, prioritizing Nigerian business in their expansion plan has strategic importance. Nigeria is strategically located in the West of Africa along the Atlantic coast. Alongside Nigeria’s growing economy and strategic location, the spread of Nigerian culture throughout Africa makes the country a great testing bed for consumer-goods enterprises. If your product testing is successful in Nigeria, be rest assured that it will succeed in any part of the continent. Jumia started in Nigeria and the model has been a huge success. The same operational model has been exported to 13 other countries and it is working!

Law Weekly: 10 Things To Know About Nigeria’s Cybercrime Act 2015

This is a high-level overview of what the Cybercrime Act 2015 provides, and things we should be aware of.

1. The Nigerian Cybercrime Act 2015 gives the President the power to designate certain computer systems, networks and information infrastructure vital to the national security of Nigeria or the economic and social well-being of its citizens, as constituting Critical National Information Infrastructure, and to implement procedures, guidelines, and conduct audits in furtherance of that. Examples of systems, which could be designated as such, include transport, communication, banking etc. To find out more about what such a plan should look like, you can check the USA’s National Infrastructure Protection Plan here, or the European Union’s here.

2. The Nigerian Cybercrime Act 2015 prescribes the death penalty for an offence committed against a system or network that has been designated critical national infrastructure of Nigeria that results in the death of an individual (amongst other punishments for lesser crimes).

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3. Under the Cybercrime Act 2015 in Nigeria, hackers, if found guilty, of unlawfully accessing a computer system or network, are liable to a fine of up to N10 million or a term of imprisonment of 5 years (depending on the purpose of the hack). The same punishment is also meted out to Internet fraudsters who perpetuate their acts either by sending electronic messages, or accessing and using data stored on computer systems.

4. The Cybercrime Act 2015 Makes provision for identity theft, with the punishment of imprisonment for a term of not less than 3 years or a fine of not less than N7 million or to both fine and imprisonment. An example of identity fraud would be the individual who impersonated Chief Bola Tinubu on Facebook and was apprehended recently by the police.

5. Specifically creates child pornography offences, with punishments of imprisonment for a term of 10 years or a fine of not less than N20 million or to both fine and imprisonment, depending on the nature of the offence and the act carried out by the accused persons. Offences include, amongst others: producing, procuring, distributing, and possession of child pornography.

6. Outlaws Cyber-stalking and Cyber-bullying and prescribes punishment ranging from a fine of not less than N2 million or imprisonment for a term of not less than 1 year or to both fine and imprisonment, up to a term of not less than 10 years or a fine of not less than N25 million or to both fine and imprisonment; depending on the severity of the offence.

7. The Nigerian Cybercrime Act 2015 prohibits cybersquatting, which is registering or using an Internet domain name with bad faith intent to profit from the goodwill of a trademark belonging to someone else, or to profit by selling to its rightful owner. Individuals who engage in this are liable on conviction to imprisonment for a term of not less than 2 years or a fine of not less than N5 million or to both fine and imprisonment.

8. Forbids the distribution of racist and xenophobic material to the public through a computer system or network (e.g. Facebook and Twitter), it also prohibits the use of threats of violence and insulting statements to persons based on race, religion, colour, descent or national or ethnic origin. Persons found guilty of this are liable on conviction to imprisonment for a term of not less than 5 years or to a fine of not less thanN10million or to both fine and imprisonment.

9. The Cybercrime Act 2015 mandates that service providers shall keep all traffic data and subscriber information having due regard to the individual’s constitutional Right to privacy, and shall take appropriate measures to safeguard the confidentiality of the data retained, processed or retrieved.

10. Allows for the interception of electronic communication, by way of a court order by a Judge, where there are reasonable grounds to suspect that the content of any electronic communication is reasonably required for the purposes of a criminal investigation or proceedings.

The above is just a high-level overview of certain interesting provisions in the newly passed legislation. The Act itself contains 43 sections, and is a very important piece of legislation to foster the development of the nascent ICT sector in Nigeria. You can read the full provisions of the Act here – CyberCrime (Prohibition, Prevention, etc) Act 2015

 

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2019 Women’s World Cup: Super Falcons claim first win Against South Korea

Nigeria got its Women’s World Cup campaign up and running after seeing off South Korea 2-0 in Grenoble Wednesday.

 

The Super Falcons, beaten in its opening game by Norway, bounced back courtesy of an own-goal by Korea’s Kim Do-yeun and Asisat Oshoala’s fine second half strike.
Oshoala, who won the Golden Ball and Golden Boot at the under-20 World Cup in 2014, underlined her reputation as one of the most exciting players in the game by sealing her team’s victory by rounding off a fine Nigerian move 15 minutes from time.
The 24-year-old, a three-time African footballer of the year, raced onto the Chidinma Okeke’s perfect through ball before accelerating away from her marker and rolling the ball past the goalkeeper.
South Korea's defender Kim Do-yeon (C) scores an own-goal during her team's clash with Nigeria.
“At first, I think we were a little bit scared of losing and going out,” Oshoala told the competition’s official website after the game.
“But after a while we just decided to go for it. I always say that I’m never under pressure — I just go on the pitch and do my job. It’s an 11-player game and I just look to enjoy the game, have fun and do the right thing for my team. The group is wide open now. We just have to concentrate now on making sure we get the points we need against France.”
Oshoala, who signed a three-year deal with Barcelona last month after an impressive spell on loan from Chinese club Dalian Quanjian, has enjoyed a stellar season.
Nigeria's forward Asisat Oshoala (R) reacts as she scores a goal against South Korea.
Nigeria’s forward Asisat Oshoala (R) reacts as she scores a goal against South Korea.
She also became the first African woman to play and score in the final of the competition though it was not enough to prevent a 4-1 defeat by French side Lyon Feminines.
Her goal capped a miserable afternoon for the Koreans which had gifted its opponent a 29th minute lead through Kim’s own-goal.
Its frustration was further increased when Lee Geu-min’s strike was ruled out for offside with her side trailing 1-0.
Asisat Oshoala was the player of the match award
The defeat all but ends South Korea’s hopes of qualifying for the next stage after it was thrashed by host nation France in the opening game of the tournament.
It also leaves Korea, ranked 14th in the world, without a point or goal to its name.
Nigeria will take on France in its final group game on Monday while South Korea takes on Norway