In an era defined by digital transformation and rapid technological advancement, data has emerged as one of the most valuable assets an organization can possess. From driving operational efficiency to enabling strategic decision-making, data management is no longer a luxury—it is a necessity. Yet, in many regions such as Nigeria, this understanding has yet to fully take root.

Globally, forward-thinking organizations are treating data as a strategic asset, building data-driven cultures, and investing in robust governance frameworks to ensure data quality, security, and utility.

Chief Data Officers (CDOs) are increasingly becoming key figures in the C-suite, responsible for overseeing data governance, compliance, analytics, and innovation.

However, in Nigeria—a country with a rapidly expanding digital economy—only four banks have appointed a CDO, highlighting a significant gap in data leadership and awareness.

This gap presents both a challenge and an opportunity. Without sound data management practices, organizations risk regulatory penalties, reputational damage, and operational inefficiencies.

On the flip side, those who invest in proper data governance, data quality, metadata management, and master data strategies can unlock significant value and build a sustainable competitive advantage.

Berkeley Data Strategists: Leading the Change

Berkeley Data Strategists is proud to be at the forefront of this transformation. We are currently engaged with First Bank of Nigeria to empower their data team through the globally recognized Certified Data Management Professional (CDMP) program.

This initiative provides practical, best-practice-based training aligned with DAMA-DMBOK2 standards, equipping First Bank’s team with the tools and knowledge to build a mature, agile, and secure data environment.

This partnership is a bold step in the right direction, positioning First Bank as a leader in data governance maturity within the Nigerian financial sector. By investing in CDMP certification and embedding best-in-class practices, First Bank is setting a benchmark for other institutions to follow.

A Call to Action for Nigerian Banks

We urge all banks and financial institutions across Nigeria to follow First Bank’s lead. The risks of poor data management are simply too high—and the benefits of getting it right are too great to ignore.

Whether your organization is at the beginning of its data journey or seeking to elevate its existing capabilities, Berkeley Data Strategists is here to support you with tailored frameworks, expert-led training, and hands-on implementation support.

Contact us today to learn how we can help you transform your data into a trusted, strategic asset—because in today’s world, data is not just an IT issue—it’s a business imperative.

For consultation, training, and CDMP certification support, reach out to Berkeley Data Strategists at [email protected] or visit www.berkeleydatastrategists.com.

By Adedapo Adesanya

The National Agency for Science and Engineering Infrastructure (NASENI) will adopt President Bola Tinubu’s Nigeria First Policy in science and technology to drive local entrepreneurs, manufacturers, and innovators.

The Vice Chairman of NASENI, Mr Khalil Halilu, described the policy as a bold move toward accelerating Nigeria’s industrial revolution and economic growth.

In a statement by NASENI’s Director of Information, Mr Segun Ayeoyenikan, on Monday in Abuja, he commended the directive to the Bureau of Public Procurement (BPP) to revise and enforce guidelines favouring local suppliers, emphasising that increased government patronage of Nigerian-made goods would drive demand across critical sectors.

Mr Halilu called the policy forward-thinking and revolutionary, noting that NASENI had long championed local content through its initiatives.

He cited examples of Nigerian-assembled vehicles, energy systems, smart irrigation tools, and electronic devices as proof of the competitiveness of local manufacturing.

He also highlighted NASENI’s ongoing Made-in-Nigeria Strategic Focus Group meetings, which aimed to identify challenges and promote solutions to improve consumer trust in local products.

“We are determined to be at the forefront of implementing the President’s vision,” Mr Halilu said, urging local producers to maintain high standards.

He ended by affirming NASENI’s readiness to lead the charge: “We have seen the capacity and competence of our local manufacturers, they are ready.”

President Tinubu’s protectionist Nigeria First Policy has been hailed by many quarters to boost local capacity; however, critics have lamented that such policies don’t take into account Nigeria’s supply gaps in order to meet the demand, which could lead to higher cost of production and prices for consumers.

By Adedapo Adesanya

UK-based business-to-business cross-border payments platform, Verto, has been announced as the winner of the $1 million Milken-Motsepe Prize in fintech.

The award recognises companies expanding access to capital and financial services for small businesses in emerging and frontier markets. It was presented at the Milken Institute Global Conference in Los Angeles on May 5.

In a statement shared with Business Post, Verto emerged as the winner after a rigorous multi-stage evaluation process that assessed affordability and accessibility, ethical practices, scalability, technological innovation, and the potential for equitable financial access.

Verto’s platform enables businesses in emerging markets to seamlessly send and receive payments across borders, including exotic currencies in emerging markets. By eliminating intermediary fees, supporting 49 currencies, and ensuring rapid transaction settlement in markets where this was not previously possible, Verto helps businesses and SMEs in underserved markets access economic prosperity and greater financial inclusion.

The Milken-Motsepe Prize in FinTech, a $2 million initiative by the Milken Institute and the Motsepe Foundation, attracted over 3,000 entrepreneurs from 126 countries.

Launched in May 2024, the prize saw 400 initial applications narrowed down to 10 semifinalists who pitched their innovations at the Milken Institute Middle East and Africa Summit in Abu Dhabi in December 2024. Verto was selected as one of three finalists, ultimately claiming the Grand Prize.

Speaking on the milestone, Verto CEO, Mr Ola Oyetayo said, “Winning the Milken-Motsepe Prize in Fintech validates our mission to break down barriers in cross-border payments but also provides us with the resources and recognition to accelerate our efforts in empowering businesses across emerging markets. It is a testament to the hard work and dedication of the entire Verto team.”

Dr Precious Moloi-Motsepe, co-founder and CEO of the Motsepe Foundation, commented, “Across the African continent, technology and innovation are disrupting traditional finance and banking approaches. Investment in this space is profitable and, more importantly, necessary for financial inclusion.

“My heartfelt congratulations to the winners and all the finalists for demonstrating feasible and impactful solutions that will drive economic activity and shared prosperity in the global South, while influencing the financial sector all over the world.”

This Fintech prize marks the third award under the Milken–Motsepe Innovation Prize Programme, which has awarded over $6 million to more than 50 innovators since 2021. Participating teams have collectively raised nearly ten times the Grand Prize in additional investments, impacting over 530,000 community members globally.