Do local software applications for the financial sector stand a chance against offshore solutions as virtually all Nigerian banks rely on foreign software?

The answer to that question is a yes. Whether local or foreign, what you are looking for in any software is a solution to a problem. The resilience or how good a software is being determined by functionality. And you have to ask what determines the capability or capacity of functionality? I always say it’s a game of intellect; it’s a game of knowledge and that of discipline, end of story. So asking if the Nigerian software can be compared with their global counterpart is not needed because over time, Nigerians have shown and demonstrated that they’re intelligent or even more intelligent compared to their counterparts in the West. There is a proven data for this, but the challenges we have is in the area of discipline. How disciplined are we as a people? Nigerians do not believe in the system and do not have faith in the system. People are too short termed in nature. What is required of us to do is to break this cycle of lack of faith in the system? For instance, my company has thrown out much foreign software and we have had applications running for the past 23 years supporting banks in this country especially in the mission critical areas. So, if PFS can do it, any other company can do it.

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