₦airaland Forum

uncleiykeman:
Afonja yoruba Muslim, your fulani master is a fulani Terrorist

Souqwaqif:
I wonder how a man who was dying, came back and turned so strong without any sign of frailty.

Sincerely this is not the Buhari I used to know,because of power Aisha decided to accept jubril of Senegal as her husband,Dear Lord please rescue us.

meforyou1:
afikpo girls are all prostitutes

SalamRushdie:
There is no proof that the bailout he gave them was for salaries if not why are 80 percent of his governors still owing and why has he been silent about it for so long.

SalamRushdie:
Only a fool will believe this when it is a known fact that Buhari and his few supporters are sadist who take pride in seeing others suffer ..Buhari is happy salaries are not being paid

fvckme:
I can recount how I was raped in Lagos.
Very bad experience

gypsey:
My friend i don't support the killing of anybody either Nigerians or IPOBs, whatever that means, there's a difference between threats and actually going ahead with the threats.

Calm down! I am not even a nigerian! i just hate the murdering of any human being regardless of who they are, If IPOBs killed Nigerians i would still be against it. I am not like you. You call yourself Rational and sane? I doubt it. you are jubliating over the killing of innocent citizens, were and when will the killing stop? You think it will stop After killing one tribe? I don't think so! Next year it might be Another tribe maybe your tribe who knows?

gypsey:
Buhari can't hear, he has ear infection, he has had ear infections since he became zoogerian president

gypsey:
My friend i don't support the killing of anybody either Nigerians or IPOBs, whatever that means, there's a difference between threats and actually going ahead with the threats.

Calm down! I am not even a nigerian! i just hate the murdering of any human being regardless of who they are, If IPOBs killed Nigerians i would still be against it. I am not like you. You call yourself Rational and sane? I doubt it. you are jubliating over the killing of innocent citizens, were and when will the killing stop? You think it will stop After killing one tribe? I don't think so! Next year it might be Another tribe maybe your tribe who knows?

gypsey:
i can not believe you people are in support of the killing of your fellow country men, children and women, i thought that you are meant to be one nigeria. I wonder which tribe will be next to be massacred. Very sad.

MyNewJackeT:
sorry maybe you misquoted me, I said why wait to be handed over a dysfunctional institution because the FG Will only give it to the state when it can't handle it anymore.

Ngokafor:
Nigerian Army are leaving with their tails between their legs after the mass rejection and apathy they suffered in the SE with their ill-advised ,and suspicious vaccination of questionable substance on innocent Igbo children..

...Now they are seen as merchants of death who should be avoided like a plague in the SE and even SS(with reports of parents bailing with their children in Warri,Bayelsa,Edo at the sight of soldiers with syringes)

I pity the all-time low the national Army has sunk..disgraceful but expected.

MyNewJackeT:
why wait to be handed dysfunctional institution when you could just build one with your high IGR

Referendum50:
The evil Nigeria army has run away from east

RomeSankara:
Python dance was a dance of shame in front of the world , what kind of govt military operations takes pride in committing crimes against inhumanity and killing unarmed civilian whilst hiding their bodies..Shame

Mike Ibitoye, Chairman of the Nigeria Union in South Africa, identified the victims as Ernest Ughakwesili, 42, and Chimezie Oranusi, 26, both from Anambra State.

“There’s virtually no setup in Nigeria that doesn’t run a co-operative,” he is convinced, “I won’t be surprised if your company (Techpoint) has its own co-operative or one or more of its team members are involved in an ajo (joint savings) group.”

He says this with confidence because his company, Riby, helps co-operatives and their members remotely control both their finance and financial operations.

Riby happens to provide the technology that helps Mr Lanre’s company to manage their (employee) co-operative scheme.

The Riby business model

Riby’s unique value proposition is built around 3 major modules that guarantee access to financial services and better financial management.

Riby for co-operatives allows co-operatives to onboard their group on its platform, manage the finances of the group as well as the finances of its members.

The Riby peer-to-peer lending module allows companies to run internal co-operatives within their fold. A case in point is a savings rotation mechanism that auto-debits employees and credits whoever is due to receive money for the month. For both modules, Riby charges a per-user fee of ₦200 upfront, amounting to ₦2000 per annum and ₦500 on a quarterly basis.



The agent management platform, Riby’s third module, is another exciting proposition that raises an innocent suspicion as to whether Riby is taking the competition to the commercial banks. This is apparent in their overall quest to include everyone in the system.

Spreading co-operatives to the banked and unbanked populace



Mr. Lanre is of the opinion that co-operatives are a big disrupter of the commercial banking system, and it’s not so difficult to see why.

The financial institutions have a legal framework that allows them to conduct financial services across the country, and granting loans to customers is one of those services. However, many people still experience difficulty accessing basic financial instruments.

“Commercial banks hardly provide people loans but through co-operatives, people can get loans for financial progress,” he affirms.

He believes that this may have ignited the proliferation of some co-operatives. While there is some truth to that, Salami is quick to, however, clarify Riby’s position on the matter.



“We can’t speak of disruption when people haven’t found a way to give themselves access to finance and better management,” he says.

About 40% of Nigerians are yet to register with any financial institution in the country, according to the Central Bank of Nigeria. Statistics from the Nigeria Inter-Bank Settlement System (NIBSS) further show that there are only about 40 million registered bank accounts across the country. These accounts are enrolled by just 20.8 million customers, some having more than one account. It is therefore apparent that co-operatives can be used to reach the unbanked.

This would perhaps explain why banks are key partners of Riby, seeing that they deploy the services of registered agents to help onboard co-operatives (with large members) on their banking platform.

“You’d be surprised to know a particular bank manager told me 10% of their entire deposit comes from co-operatives,” Salami reveals, “As a matter of fact, there are co-operatives in this country that have enough deposit to be eligible for a commercial banking license.”



So rather than re-inventing the wheel or offering banking services, Riby is “just offering a solution that allows people run their banking activities differently,” he affirms. “When it comes to finance, the banks cannot solve all the problems and we discovered it was a faster route to scale.”

This is also why the Riby agent management platform (otherwise called Riby amplified) — designed specifically for banks — gives Riby its largest revenue pool, from charging partner licensing or customisation fees.

Prospects

Riby has had some setbacks in matching its customer target of 5 million, but the platform is nonetheless growing at a daily average of a thousand users.

Since launching last year, 17th May, 2016, Riby has acquired nearly 400,000 customers. Interestingly, transactions worth over ₦5 billion have been processed with user data (of over 100,000 customers) connected to the Riby system. However, only a small portion of this flows through Riby at the moment. “We want all that money to flow through our system,” he says.

The prediction is that over 20 million people (from Nigeria and a few other emerging markets in West Africa) will become users of the platform in the future. “We hope that 15 million of them have never had access to major banking services before,” Salami says.

While co-operatives can be extremely transformative, one major hindrance Riby might have is how to simplify its technology for the end users — more so because it is exploring uncharted territory. Riby would have to devote resources towards educating users if it is to drive adoption and, this will prove costly when targeted at a large informal market, like Nigeria’s.

But with the way people go about co-operatives, we just might never be able to tell what the market for Riby would be like.

Already, the Nigerian co-operative act and certification lays a good foundation for the establishment of co-operatives. “With as low as ₦4000, anyone can register and operate a co-operative,” Salami explains

IQGenius.NG is an information and technology, ICT, company which specializes in the provision of integrated solution to support the administrative function within an organization. We also provide consulting-business, e-government, business intelligence, mobile solutions, biometric, networking, intranet/extranet and enterprises portal software development services.. IQGenius.NG Solutions Limited

Our dynamic team consists of multifaceted professionals who employ cutting edge technology and ingenious design to deliver out of the box solutions. The expertise our team possess embraces latest and most effective web, mobile and software development technologies in Nigeria

[b]In a collaborative effort to harness the vast benefits of information and communication technology to transform the state technologically and create employment for youths in Nigeria, the Federal University of Technology, Akure, FUTA and the Ondo State Government in collaboration with Emerging Communities Techup Initiative (Akure Techup) has signed a Memorandum of Understanding (MoU) for the implementation and development of the Tech Hub Project in Ondo State. The Tech Hub whose construction has started is domiciled in FUTA.

Speaking at the event, the Governor Oluwarotimi Akeredolu said the readiness to solve national and global challenges through ICT has added to the wealth of developed countries. He said if Nigeria will hold its own in the comity of nations, it must be technologically driven as real political power resides in the establishment and utilization of technological hubs for Information and Communication Technology (ICT) advancement.

The Governor said that the average Nigerian youth has an innate potential to explore and create if given an enabling environment hence it is important to empower and encourage them towards developing their respective capabilities with the view of making them entrepreneurs. Akeredolu said it was time for Nigerians to develop indigenous means to do things differently and tap into modern innovative technologies in order to advance the country as ICT driven technology guarantees optimal output in all facets of life.[/b]

Views From Akure TechUp - Tech Garage 2017 2nd Quarter
Saturday morning, Royal Birds Hotel Alagbaka. There was a gathering of great minds all converging at 10:00 am to conversate, share ideas and experiences. Present were developers, designers, C.E.Os, Founders and Investors and the stars of the show.

undefeateds:
u have no point,can't u say amen to dat prayer if u think u are making sense,and do u think 'm a vagabond DAT will be claiming some other people's home,I am an osun indigene and if u are sure of yourself,say amen to DAT prayer or shut ur fucking mouth up