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The Real Issues Around Shortage of Cash at ATM Machines

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By Olusegun Atanda-Musa

Nigeria has an unhealthy predilection for scapegoating. FX is galloping, let’s hang it on crypto. The fintechs are doing an amazing job powering digital payments, let’s halt their momentum. Nigerian basketball especially the men’s game has gone down, let’s blame the players. Finger-pointing and looking for a fall guy seems to be the classic modus operandi for how we roll in these parts. This extremely sad and tragic behavioural pattern doesn’t give room for a holistic examination of issues and allows for well-rounded answers to be proffered. No society can progress like this because the result is that nothing changes, mistakes are repeated and we go around in vexatious cycles on a rollercoaster.

The purpose of this intervention is very simple –  we must stop this orchestrated campaign of calumny against agency banking. This is because it is very symptomatic of the Nigerian condition as described above and in the final analysis, it will take us back to the times when we queued with tally numbers in heat-infested banking halls. That’s a nod to retrogression and one we should strenuously avoid. That said, let’s unpack the issues.

From time immemorial, there have been banks. There has also always been money in circulation whether as cowrie shells, gold bars, or bank notes. They are the cornerstone of today’s modern, commercial-driven and transaction-reliant society that we live in. So, what exactly do banks do? Their primary role is to take in funds—called deposits—from those with money, pool them, and lend them to those who need funds. And when you need it, they give it back to you as cash and or allow you to make transfers.

Recently, we have seen queries raised about the performance of banking channels, especially the performance of Automated Teller Machines (ATM) in many cities across Nigeria. Customers are venting that these ATMs aren’t dispensing cash and that even the bank branches don’t have enough cash to give customers. As already highlighted, we have been looking for a perceived enemy or imaginary target to take out these frustrations on, and sadly, they seem to have found an easy or soft target in Agency Banking operators, commonly referred to as POS Agents, which is wrong on so many levels.

Firstly, banks have many channels for meeting customer needs –  ATMs, Mobile and Internet Banking, USSD, Branch, POS Agents/ Agency Banking, ATMs amongst others. So clearly, customers have more than one tool at their disposal to carry out financial transactions. The begging question then is, why do we have an over-reliance on one particular channel? And when you look at the ATM space, there are roughly about 23,000 ATM teller machines across the country for a population of over a hundred million people, this inadequacy must be pointed out. Also, ATMs as a banking channel are a high cost and high maintenance cost element for banks. It is manifestly evident that banks are not investing in the deployment of new ATMs while leaving the old ones to rot. So, if banks are not living up to their responsibility, why are we not calling them out frontally and chastizing them for dereliction of duty? Instead, POS operators are being dragged up and down. That’s just plain wrong.

Closely aligned to this ATM cash dispensing brouhaha, is another obvious fact –  we have a problem: an overreliance on cash. This is in spite of the many efforts that the government has made to get Nigerians to embrace a cashless society especially in view of some of the associated risks like robbery attacks but sadly, not much progress has been made. The CBN has also introduced charges for cash withdrawal over the counter at banking halls to discourage this love for cash handling. The unintended consequence of this is that merchants, traders and SMEs will find alternatives which might not involve taking cash to the banks. The government must do everything within its power to support fintechs and encourage innovation to fast-track the adoption of digital payments.

Agency banking in Nigeria is a well-regulated industry as the Central Bank of Nigeria has well-laid-down guidelines that define operations in the POS space. There is also the Federal Consumer Protection Council, FCPC supervising happenings in that segment. So it beats my mind that educated folks don’t know that agency banking operators have government agencies checking up on their activities. Anyways, now they know. The other point that needs to be highlighted is the critical and pivotally infrastructural role that agency banking operators play in the financial services landscape.

POS operations have helped the country fast-track its ambitions to meet set financial inclusion targets. Today, you have agency banking in every nook and cranny of the country, even in many remote areas that have never had a bank before. Which is why they were the saviours and darling of everyone as we saw during the cash crunch saga. Agency banking operators are providing a service. Feel free to call them human banks. They incur transaction fee costs, there are also costs like the purchase or lease of POS terminals, setting up of physical locations, recurring expenses for trips to banks, data for the POS devices, utility bills and other critical operational expenses. Why then are they being made out to be the villains in terms of the charges incurred by customers when they make cash withdrawals from these agents? It doesn’t make any sense because they have a legitimate business to run and no one does business to incur losses.

In conclusion, instigators must be reminded that POS operators are legitimate and value-driven businesses and we must not criminalize the useful and valuable work that they do. Otherwise, we risk reversing the huge gains made in inclusivity and plunging Nigeria back to the dark ages of tally numbers and long-winding queues. Can I hear someone say, we reject it?

Olusegun Atanda-Musa is a financial services professional and lives in Lokoja.

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Investing in Women: A Catalyst for Change in Africa

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Empowering women is about more than justice, gender equality and human rights. It is the most effective way to improve standards of living for entire communities – especially in emerging economies.

As the world marks International Women’s Day (IWD) this month, it is an ideal time to reflect on the value of empowering women for all of society – not to mention the next generation of women.

A report by the International Labour Organisation determined that, “at a basic level, women’s employment, paid and unpaid, may be the single most important factor for keeping many households out of poverty.”

This is because – as other studies have found – women are more likely than men to invest a large proportion of their income to educate their children. Therefore, as women enter the workforce in greater numbers and earn higher salaries, more is spent on children’s education, including girls’ education. This can then lead to an ongoing cycle of better education for future generations of women.

Pan-African entertainment group MultiChoice Africa is well positioned to support this process of empowering women through training in the media and entertainment sector.

The organisation has long shown a deep commitment to promoting diversity, and its preferential procurement policies are intentionally aimed at empowering women. MultiChoice Africa invests in building a gender-balanced workforce through strategic recruitment and people development – and this has borne fruit.

Today, the group provides entertainment and consumer services to 20.9m subscribers across sub-Saharan Africa. It produced 6 502 hours of local content last year, with more than 30 local content channels across 10 markets. The group has customers across 49 markets in sub-Saharan Africa and adjacent islands through DStv and GOtv, and its linear OTT service DStv Stream.

This continent-wide penetration has been achieved with a workforce made up of 48% women employees – up from 47% in 2023 – and 43% female representation in senior management positions.

MultiChoice spent ZAR90 million on the training and development of women staff in 2024 through initiatives like its Advancing Women Mentorship Programme. This initiative offers select groups of women the chance to attend masterclasses with executives, as well as networking sessions, mentorships and expert classes to enhance their technological and management skills.

In addition, since 2012, the MultiChoice Innovation Fund has disbursed ZAR407 million in loans, grants, and business-development expenses, specifically targeting black women and youth-owned businesses in fintech, edutech, healthtech, HR tech and media. To date, 77 black-owned small businesses with at least 50% female, black ownership have benefited, creating more than 1 400 jobs.

The empowerment of women is a direct, purposeful MultiChoice business strategy, brought to life through significant empowerment programmes and budget allocations.

Progress through storytelling 

However, as Africa’s most-loved storyteller, MultiChoice Africa sees its fundamental role as being to entertain, inform and empower the African communities that inspire and build the company in return.

In fulfilling this purpose, it works to also empower women through the hyperlocal content it produces for markets across the continent.

In line with the goals of International Women’s Day, MultiChoice aims to achieve full gender equality in its industry, and on the African continent. Indeed, the group is well on the way to achieving that in its workforce and in its content strategy.

The MultiChoice approach is to ensure women have a voice in the media and entertainment industry. It is working to help them acquire the skills to express themselves creatively, and to inspire audiences of millions of African girls and young women.

A powerful platform for achieving this is through the MultiChoice Talent Factory (MTF) academies in three African capitals – Lusaka, Nairobi and Lagos. These institutions provide fully paid annual courses in the fundamentals of TV and filmmaking – everything from screenwriting to directing to sound engineering, editing and producing.

Half of the students intake are females, and their time at MTF sees them equipped to produce films of their own. Many young women filmmakers have produced highly impactful work that has premiered on MultiChoice platforms and won accolades at awards shows across the continent.

Their work is itself an expression of the IWD theme to “Accelerate Action” towards gender equality.

MultiChoice Africa platforms have achieved encouraging gender-transformation successes. The right inputs are being implemented, and they are generating the right outputs.

While more remains to be done right across society before full gender parity has been achieved, the media has shown itself to be a critical platform for shaping perceptions and encouraging change.

At MultiChoice Africa, women have found their voice. They are shaping Africa’s future. And they are doing that through the power of African storytelling.

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The Challenge Facing 95% of IT Leaders as Regards AI Agents; How to Overcome it

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Linda Saunders Salesforce AI Agents

By Linda Saunders

Generative AI has transformed how people interact with technology through prompts, and the next frontier promises an even greater impact. As organisations refine their AI strategies, we are witnessing the next chapter of work and the emergence of digital labour with agentic AI.

Since the launch of Chat GPT  many business leaders focused on what they thought was the right topic – the Large Language Models ( LLMs). But these models are quickly becoming a commodity, as each one races to build the best for a specific use case.

To truly unlock value from AI, you need to focus on everything around the model such as the orchestration, the low code / no code approach to building and refining, the metadata framework and a data engine that compliments the data strategy. It’s this platform advantage that is seeing agents across the globe stand up and deliver value with real data, leveraging real integration in a few short weeks.

To unlock the action and value of generative AI requires  a deeply integrated and connected platform with a one code base, but this takes significant time and money to build unless you have already been empowering your human employees on the Salesforce platform. Our platform leverages everything you have built to empower your digital workforce. Its a win-win where even for those who are not quite ready for a digital workforce – will be unlocking their ability to pivot to an agentic workforce with every flow, cloud, integration and build – Ultimately  future proofing their business.

Agentic technology is a multi-trillion-dollar industry opportunity. The agentic enterprise  will operate with unprecedented independence capable of responding to queries and handling complex tasks autonomously. This autonomy will optimise workflows, drive innovation, and break down barriers related to the need for continuous human intervention.

By 2028, Gartner predicts that 33% of enterprise software applications will include agentic AI, up from less than 1% in 2024, allowing 15% of day-to-day work decisions to be made autonomously.

Yet, AI agents are only as good as the data they have. They need connected data—both structured and unstructured—to understand user queries and make informed decisions. That’s where integration and APIs come in, building a solid foundation for these agents.

While 93% of IT leaders are either implementing or planning to implement AI agents within the next two years, they face significant integration challenges that hold back the full potential of these agents.

According to the latest MuleSoft Connectivity Benchmark Report, which surveyed more than 1,000 IT leaders globally, 95% struggle with data integration across systems. On average, only 29% of applications are connected, which really affects the accuracy and usefulness of AI agents.

The report found that, on average, enterprise organisations are using 897 applications, and those with AI agents are using even more—1,103 applications. 90% of IT leaders say data silos are creating business challenges.

The more applications and AI models there are, the harder it gets to integrate everything. Data silos make it even tougher, limiting agents’ access to the data they need and leading to less accurate and useful outputs.

Disconnected data also places major strain on IT resources. IT leaders are looking for ways to boost efficiency and productivity, but they expect their teams’ workload to increase in the next year. Balancing current capabilities with integrating AI agents across hundreds of unique applications while maintaining those systems, is a real challenge.

To unlock the full potential of AI agents, businesses need to align their integration and AI strategies. APIs and integration solutions can simplify and unify data infrastructure, allowing AI agents to access critical data and interact with existing systems and automations. This can significantly improve IT infrastructure, enable data sharing across teams, and integrate disparate systems.

Organisations that have successfully integrated their data and systems using APIs are reaping the rewards: increased productivity (49%), faster response to business needs (49%), and higher revenue generation (45%). On average, half of an organisation’s internal software assets and components are available for reuse, which means companies can leverage their existing investments, instead of starting from scratch.

The reliance on IT teams highlights the need for a clear automation strategy, along with robust governance and monitoring to ensure everything runs smoothly and securely.

A well-rounded automation strategy is crucial for integrating AI effectively, but many teams are still working on theirs. One key part of this strategy is making AI accessible to non-technical users, which is essential for broader adoption and creating a solid foundation for employees to build on, and this is where agents are changing the game.

Every company, team, and employee will soon have an agent. But how useful is a team of agents if they can’t interact with other systems or agents to coordinate and take action across the entire business? AI must have a smooth handoff to a human, and if that transition isn’t well-coordinated and seamless, any benefits are quickly undone

As AI, integration, automation, and API use continue to drive transformation and performance, organisations that invest in these technologies to harness unlimited digital labour are best placed to stay agile, efficient, and ultimately succeed.

Linda Saunders is the country leader and senior director solutions engineering Africa at Salesforce

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Beyond the Grip of Godfathers in Nigeria’s Politics

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By Kayode Awojobi

Democracy, by its very definition, is a government of the people, by the people, and for the people. It is a system built on the principles of popular participation, accountability, and governance that reflects the collective will of the electorate.

However, in Nigeria, democracy often takes on a different meaning—one in which a few powerful individuals wield enormous influence over the political process. This phenomenon, commonly referred to as godfatherism, has become an entrenched feature of the country’s political landscape.

The role of political godfathers in Nigeria is complex and often divisive. While some view them as experienced mentors who provide guidance and structure within the political system, others see them as power brokers who prioritize personal gain over the collective good.

Godfathers serve as kingmakers, using their resources and influence to propel candidates into office. Yet, once these candidates assume power, they are often expected to remain loyal to their benefactors, a reality that frequently leads to governance dictated by the interests of a select few rather than the needs of the people.

The influence of godfatherism is not an abstract concept but a lived reality that has shaped political developments in several states across Nigeria.

In Osun State, for instance, the fallout between former Governor Gboyega Oyetola and his predecessor, Rauf Aregbesola, underscored the fragile nature of godfather-protégé relationships.

Initially handpicked as a successor, Oyetola later distanced himself from Aregbesola’s influence, leading to a fierce political battle that ultimately contributed to his loss at the polls.

Similarly, in Oyo State, Governor Seyi Makinde has had to navigate tensions within the Peoples Democratic Party (PDP), where certain political figures who played a role in his rise to power later accused him of abandoning party structures.

Perhaps one of the most well-documented cases of political godfatherism in recent years was the dramatic conflict in Edo State between Governor Godwin Obaseki and his former benefactor, Adams Oshiomhole.

Oshiomhole, who had championed Obaseki’s election in 2016, later fell out with him over governance and party control. This dispute culminated in Obaseki’s disqualification from seeking re-election under the All Progressives Congress (APC), forcing him to defect to the Peoples Democratic Party (PDP), where he secured a second term in office. The episode highlighted the extent to which political godfathers expect loyalty from those they help install, often leading to bitter confrontations when protégés seek independence.

In Rivers State, a similar dynamic is playing out between Governor Siminalayi Fubara and his predecessor, Nyesom Wike.

Wike, whose influence was instrumental in Fubara’s emergence as governor, has been accused of attempting to control the new administration from behind the scenes. The power struggle has resulted in political unrest, including an attempt to impeach Fubara and the defection of several lawmakers loyal to Wike.

The situation escalated to the point where President Bola Tinubu declared a state of emergency in Rivers State, suspending Governor Fubara, his deputy Ngozi Odu, and all elected members of the state House of Assembly for six months. Retired Vice Admiral Ibok-Ette Ibas was appointed as the state’s administrator to oversee governance.

This further reinforces the argument that political godfathers, rather than serving as stabilizing forces in governance, often become sources of crisis when their influence is challenged.

To be sure, political mentorship is not inherently a negative concept. In well-functioning democracies, experienced politicians often guide emerging leaders, offering advice and leveraging their networks to ensure effective governance.

However, the Nigerian brand of godfatherism is rarely about mentorship in the true sense of the word. Instead, it is largely about control, an arrangement where those who ascend to political office must remain subservient to their benefactors. This practice undermines democracy by limiting political choices, suppressing independent leadership, and reducing accountability to the electorate.

The continued dominance of godfathers in Nigerian politics raises a critical question: should a few individuals determine the fate of millions, or should the democratic process be allowed to run its course?

Proponents of godfatherism argue that it provides stability, ensures continuity, and helps navigate the complex terrain of Nigerian politics. They contend that without the financial and structural backing of political godfathers, many candidates, especially those without deep pockets, would struggle to compete in elections. In this sense, godfatherism is viewed as a necessary evil in a system where political survival often depends on strong backing.

On the other hand, critics argue that the culture of godfatherism erodes the foundations of democracy, replacing meritocracy with patronage. When candidates owe their political success to an individual rather than the electorate, they are more likely to prioritize the interests of their benefactor over those of the people.

This reality has played out time and again, with governors and other public officials making appointments and policy decisions that serve their godfathers rather than their constituents. The result is governance that is often disconnected from the real needs of the populace.

If Nigeria’s democracy is to mature, there must be a shift from the current model of political patronage to one that prioritizes competence, transparency, and true service to the people. The electorate must become more discerning, resisting the imposition of candidates whose loyalty lies elsewhere. Political parties, too, must work toward greater internal democracy, ensuring that primaries and candidate selections are based on merit rather than the dictates of a few powerful individuals.

The experiences of other nations provide valuable lessons. In South Africa, Nelson Mandela, despite his towering influence, stepped aside to allow new leaders to emerge, ensuring that democracy remained intact beyond his tenure. In the United States, political mentorship exists, but power is not concentrated in the hands of a select few who dictate governance from behind the scenes. These examples suggest that it is possible to balance political influence with democratic principles.

Nigerian political godfathers must rethink their roles. Rather than seeing themselves as puppet masters, they should position themselves as genuine mentors, guiding younger politicians without stifling their independence. They should invest in institutions rather than individuals, ensuring that governance structures remain strong regardless of who is in power.

Ultimately, the power to end the stranglehold of godfatherism lies with the people. The electorate must recognize that their votes are their most potent tool for shaping the future of governance. If voters reject candidates imposed by godfathers and insist on accountability, the culture of political subservience will gradually diminish. Democracy thrives when the will of the people is supreme, not when a handful of individuals determine the political direction of an entire nation.

As Nigeria looks toward future elections, the conversation around godfatherism must shift. It is time to move beyond the era of political overlords dictating governance from the shadows.

The country must embrace a system where leadership is earned, not handed down; where politicians serve the people, not a select few; and where democracy is truly of the people, by the people, and for the people.

Kayode Awojobi is a multiple award-winning broadcast journalist, social and political commentator. He writes from Ago-Iwoye, Ogun State

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