NITDA DG, Kashifu Inuwa, participates in a session titled “Inclusive Growth in the Digital Age” at the 32nd Nigerian Economic Summit (NES#32), organised by the Federal Ministry of Budget and Economic Planning in Abuja. The National Information Technology Development Agency (NITDA) has called for stronger partnerships among industry players, academic institutions and innovation ecosystem stakeholders to close Nigeria’s digital skills gap, boost productivity and translate digital literacy into sustainable economic growth. NITDA Director General, Kashifu Inuwa, made the call while speaking as a discussant at the MTN Breakfast Session, themed “When Transnationals Invest”, during the Nigerian Economic Summit (NES32) in Abuja. Inuwa stressed the need for a coordinated national strategy for digital skills development, urging stakeholders to move away from fragmented initiatives and adopt a unified approach that aligns education and training with industry demands. He warned that the persistent disconnect between academic institutions, industry players and the innovation ecosystem continued to undermine efforts to develop a workforce capable of meeting Nigeria’s changing economic and technological needs. According to him, while academic institutions play a critical role in developing human capital, their training programmes and graduate output must reflect the practical needs of industry to ensure that graduates possess relevant, applicable and market-ready skills. “Our human capital is our greatest national resource,” he said, underscoring the importance of aligning education and skills development with industry requirements. The NITDA Boss clarified that the agency’s digital literacy mandate was not to turn every Nigerian into an IT professional, but to equip citizens with the digital competencies required to improve their work, raise productivity and expand economic opportunities. To advance this objective, NITDA developed the National Digital Literacy Framework, which targets 95 percent digital literacy by 2030, with an interim target of 70 percent by 2027, as set by President Bola Ahmed Tinubu. Inuwa said meeting the targets would require sustained collaboration across sectors, prompting the agency to introduce the Digital Literacy for All initiative to expand digital skills nationwide through a multi-pronged approach. A major component of the initiative is the integration of digital literacy into formal education. He disclosed that NITDA had partnered with Nasarawa State University and Cisco to develop learning content based on the National Digital Literacy Framework. The framework covers six competency areas and three proficiency levels: basic, intermediate and advanced. In response to emerging technological demands, the agency is also reviewing the framework to incorporate artificial intelligence literacy. As part of efforts to embed digital competencies in the education system, Nasarawa State University has integrated digital literacy into its general studies curriculum, making the subject compulsory for students. Beyond training and curriculum development, NITDA is strengthening coordination and accountability through its National Digital Literacy Dashboard, a platform designed to track interventions and provide visibility into the contributions of organisations working to improve digital skills across the country. Inuwa disclosed that 252 organisations had reported their activities on the dashboard, documenting the training of approximately 2.77 million Nigerians from 2023 to date. The reported interventions covered all 774 local government areas and 14,664 communities, demonstrating the nationwide reach of the programmes captured on the platform. He identified Cisco as the leading contributor to the reported figures, noting that its educational platforms had been used to train more than 1.073 million Nigerians. The NITDA director-general urged organisations implementing digital literacy programmes, including those operating through foundations and corporate social responsibility initiatives, to report their activities on the dashboard. He said comprehensive reporting would improve coordination, minimise duplication of efforts and help ensure that underserved communities benefit from digital skills interventions. Inuwa emphasised that collaboration must go beyond delivering training programmes to ensuring that acquired skills translate into measurable productivity gains and broader national prosperity. He urged industry stakeholders, educational institutions, innovators and other partners to work together to identify the skills employers need and align training programmes with those requirements. He maintained that a coordinated digital skills ecosystem, backed by common standards, reliable data and shared national objectives, would be essential to building a digitally capable population and maximising technology’s contribution to Nigeria’s economic development.
Author: Lilian Azuh
Group Photo: DG NITDA, Kashifu Inuwa CCIE, (middle), alongside NITDA management staff and the U.S. Chamber of Commerce delegation The Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa, CCIE, has reaffirmed Nigeria’s commitment to building a resilient, inclusive and competitive digital economy through strategic partnerships with international technology companies, emphasising that the country’s digital policies are designed to attract investment, strengthen local capacity and secure its digital future. The DG stated this while receiving a delegation with representatives from Microsoft, Citi Bank, Cavista Holdings, Flutterwave, Tolaram Group, the American Business Council and the U.S. Chamber of Commerce, led by the President of the U.S.- Africa Business Centre, Kendra Gaither, during a visit to NITDA to explore opportunities for deeper collaboration between Nigeria and the United States in digital transformation, cloud computing, artificial intelligence, data governance and technology investment. Nigeria’s digital transformation agenda is anchored on two fundamental objectives: ensuring citizens have reliable access to essential digital services and positioning them to participate meaningfully in value creation within the digital economy, Inuwa explained. “Our policy intent is just about two things. First, to make sure our citizens have basic access, no matter what. What I mean by no matter what means we should have a capacity for digital self-determination,” he said. The Agency’s sovereign cloud initiative is intended to strengthen national control over critical digital infrastructure, enhance resilience against disruptions, mitigate risks and provide flexibility in the adoption of technology solutions, he explained. According to him, digital sovereignty should not be interpreted as an attempt to exclude international technology companies, but rather as an opportunity to encourage them to invest in Nigeria’s digital infrastructure and collaborate with local businesses to deliver sustainable solutions. “It’s not about politics. It’s not about locking our doors against anybody, but it’s about inviting you to come and build with us,” the DG noted. Inuwa further highlighted the importance of developing local infrastructure and capacity to ensure that Nigeria derives greater economic value from its growing digital market. He asserted that investments in domestic data centres and cloud infrastructure would create opportunities for local businesses, support innovation and strengthen the country’s position as a technology hub for West and Central Africa. He disclosed that the Federal Government had invested more than ₦4.5 trillion in information technology between June 2023 and June 2026, noting that appropriate infrastructure and policy frameworks could help channel relevant government technology services towards locally hosted sovereign cloud solutions. The NITDA boss also addressed concerns surrounding data localisation and regulatory compliance, particularly in the financial technology ecosystem. He said that the Agency was working with relevant regulators, including the Central Bank of Nigeria, to develop an assurance framework that would provide clarity on technical requirements, support compliance and encourage investment in local infrastructure. Emphasising the importance of resilience and flexibility, he said, “We need that portability. If Google has better services, I should be able to move my services from Microsoft to Google or AWS.” He added that policies must create an environment where technology providers can compete fairly while government and businesses retain the flexibility to adopt solutions that best meet their needs. Inuwa also underscored the importance of collaboration in developing effective digital policies, noting that NITDA had previously worked with major technology companies, local providers and other stakeholders in shaping Nigeria’s cloud-first policy. He encouraged members of the delegation to sustain engagement with the Agency and explore practical ways of aligning their investments and solutions with the country’s digital priorities. Responding to a proposal by Kavista Holdings for collaboration in digital transformation, workforce development and employmentoriented skills programmes, the DG invited the company to formally submit its proposal for assessment by the relevant NITDA team. Earlier in her remarks, Kendra Gaither reaffirmed the American business community’s interest in deepening commercial engagement with Nigeria, identifying digital transformation, regulatory clarity and investment predictability as critical to expanding bilateral economic cooperation. She described Nigeria as an important player in Africa’s information technology and digital economy landscape, noting that the country’s policy direction has significant implications for businesses operating across West Africa and the wider continent. Gaither further noted that the delegation was seeking constructive dialogue with NITDA to better understand Nigeria’s evolving digital regulatory environment and identify practical ways to support shared economic and innovation objectives. She stressed that a secure, competitive and predictable regulatory environment would benefit Nigerian businesses, U.S. companies and other international investors by providing clearer expectations for compliance and long-term investment decisions. She highlighted concerns around overlapping regulatory responsibilities and areas requiring greater clarity, particularly in cloud computing, data governance and financial services, while emphasising that companies wanted to comply with Nigeria’s requirements and continue expanding their operations. Gaither also acknowledged Nigeria’s growing leadership in digital policy and trade discussions across the continent, expressing the Chamber’s readiness to draw on international experience and facilitate further engagement between NITDA and its member companies. She maintained that sustained dialogue would help address uncertainties, strengthen confidence and create opportunities for partnerships that advance Nigeria’s digital transformation while supporting the commercial interests of U.S. businesses. The U.S. Chamber of Commerce delegation included representatives of technology, financial services and investment organisations, including Microsoft and Citi, alongside members of the American Business Council and the U.S. Embassy.
…….. Reports Profit Before Tax of ₦879.9billion Guaranty Trust Holding Company Plc (“GTCO” or “the Group”) has released its Unaudited Consolidated and Separate Financial Statements as of September 30, 2026, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE). The Group posted a Profit Before Tax of ₦879.9 billion, driven by sustained growth across its core earnings lines, with interest income, fees and commission income and trading income growing year-on-year by 5.0%, 1.4% and 3.1% respectively. This resilient performance was delivered despite a ₦87.9 billion fair value loss recognised in the period, with PBT moderating slightly by 2.3% from ₦900.8 billion in Q3 2025. The Group’s Total Assets grew by 3.5% to ₦18.37 trillion (December 2025: ₦17.76 trillion), while Shareholders’ Funds closed at ₦3.5 trillion. Capital Adequacy Ratio (CAR) remained very strong at 34.2% (Bank: 33.9%), and asset quality improved, with IFRS 9 Stage 3 Loans closing at 4.0% at Group level (FY 2025: 5.0%) and 3.4% at Bank level (FY 2025: 3.4%). Cost of Risk (COR) also improved to 0.9% from 2.2% over the same period, while coverage for credit-impaired loans closed at 130.7% (FY 2025: 106.9%). Deposit liabilities grew by 8.6% from ₦12.87 trillion in December 2025 to ₦13.98 trillion in September 2026, reflecting the continued strength of the Group’s deposit franchise, while the net loan book moderated by 4.1% to ₦3.00 trillion, in line with the Group’s disciplined approach to risk asset creation. Earnings quality also improved, with funded income rising to 77.8% of gross earnings and net core earnings growing by 4.4% to ₦1.505 trillion, while Profit After Tax closed at ₦614.6 billion (Q3 2025: ₦699.6 billion), reflecting changes to Companies Income Tax regulation which affected capital allowance reliefs. The Group continues to maintain a well-structured, healthy, liquid and diversified balance sheet across all the jurisdictions where it operates a banking franchise, as well as across its Payments, Pension and Funds Management businesses Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc Mr. Segun Agbaje, said: “Our performance in the Q3 reflects the strength of a franchise built on scale, efficiency and discipline. Despite a challenging operating environment and significant fair value losses in the period, our core earnings continued to grow, our deposit base expanded strongly, our cost efficiency remains among the best in the industry, and our balance sheet remains strong, liquid and well capitalised. Looking ahead, we will always optimise risk-free returns wherever we see them and will always be positioned to take advantage of arbitrage opportunities as market conditions evolve, without compromising the quality of our risk assets. We will also continue to evolve our platforms and adapt to new technologies to meet the changing needs of our customers, as we remain focused on delivering sustainable value and superior returns to our shareholders.” Overall, the Group continues to post some of the best metrics in the Nigerian Financial Services Industry, with a Pre-Tax Return on Average Equity (ROAE) of 34.0%, Pre-Tax Return on Average Assets (ROAA) of 6.5%, Capital Adequacy Ratio (CAR) of 34.2% and Cost-to-Income Ratio of 31.2%. GTCO Plc is a leading financial services group with operations across Africa and the United Kingdom. Renowned for its strong corporate governance, innovative financial solutions, and customer-centric approach, the Group provides a wide range of banking and non-banking services including payments, funds management, and pension fund administration. The Group is committed to delivering long-term value to stakeholders while driving growth and development across its markets Corporate Communication 01-2715227
Fidelity Bank Plc has successfully redeemed its 5-Year US$400 million Senior Unsecured Notes at maturity, reaffirming its commitment to meeting its obligations to investors and reinforcing its track record in the international debt capital markets. Issued on 28 October 2021, the 5-year Eurobond matured on 28 October 2026 and carried an annual coupon of 7.625 per cent, payable semi-annually. Fidelity Bank met all scheduled coupon payments throughout the life of the instrument and has now fulfilled its final repayment obligation in full, covering both principal and accrued interest. The redemption was funded from internally generated liquidity as part of the…
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