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Tag: digital

  • Kwara SUBEB constructs 39 digital library centres

    Kwara SUBEB constructs 39 digital library centres

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    Kwara Universal Basic Education Board has commenced the construction of 39 Digital Literacy Centres (DLC) in basic education schools across the state.

    A statement from the board’s Press Secretary, Amina Atere, on Thursday in Ilorin said the project would also deepen students’ interest in information and communication technology.

    “The centres across the 16 LGAs will enable Kwara students to compete favourably with their counterparts across the globe using information and communication technology.

    ”The DLC is equipped with computers and several accessories,” she said.

    Atere also said the project was in continuation of the efforts of Gov. Abdulrahman AbdulRazaq to reposition basic education in the state.

    “This began with the payment of diverted funds which brought Kwara State under the hammer of the Universal Basic Education Commission,” she said.

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  • Regulating digital currencies – The Hindu

    Regulating digital currencies – The Hindu

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    Some experts and central bankers point to regulation as the way forward. And supervising stablecoins and crypto exchanges would be a much easier affair than exercising controls over individual financial crypto products.

    Some experts and central bankers point to regulation as the way forward. And supervising stablecoins and crypto exchanges would be a much easier affair than exercising controls over individual financial crypto products.

    Dear reader, due to a technical glitch, an old copy of the newsletter was sent to your inbox in the last several instances. This issue is now fixed. We deeply apologise for any inconvenience caused.

    Money is one among the various things that have experienced technology’s Midas touch. Currencies are now going through a digitisation experience. Roughly 105 countries, representing over 95% of global GDP, are exploring Central Bank Digital Currency (CBDC) for their citizens.

    CBDCs are the latest in a series of innovations underway in money markets. They are virtual currencies backed and issued by a country’s central bank. And they have been developed to increase financial inclusion and counteract the growing influence of cryptocurrencies and stablecoins.

    The central banks of several countries have realized that they need to provide an alternative to the likes of Bitcoin, or let the future of money pass them by. Digital currencies have been launched in 10 countries, with China’s pilot set to expand in 2023. Nigeria, Africa’s largest economy, launched its CBDC in October 2021. Jamaica, is the latest country to launch a CBDC, the JAM-DEX.

    India’s RBI has chalked out plans to introduce CBDCs in the coming fiscal year. In its annual report for 2021-22, the central bank proposed to adopt a graded approach to introduce CBDC.

    While central bankers are busy tweaking the monetary system with digital currency experiments, private players are also infusing the market with their own tokens. And some central bank governors are open to the idea of having private tokens being issued alongside CBDCs. They see private tokens to better than CBDCs.

    Australian central bank Governor Phillip Lowe said that private digital tokens issued by companies could be better than central bank-issued tokens, assuming the companies can be regulated appropriately.

    Mr. Lowe suggested that strong regulation could help mitigate risks to the public. His suggestion must be seen against the backdrop of Terra USD stablecoin’s collapse two months ago. TerraUSD (UST), now changed to TerraUSD Classic (USTC), lost its peg and drove down the value of the entire Terra ecosystem. It caused a multi-billion-dollar domino effect on the crypto market worldwide.

    Despite the multi-billion-dollar scale collapse, several experts don’t see an end to cryptocurrencies or stablecoins. They view the technology and innovation underlying these developments are likely to be pivotal for the changing financial system.

    Some point to regulation as the way forward. And supervising stablecoins and crypto exchanges would be a much easier affair than exercising controls over individual financial crypto products.

    This approach is fundamentally at odds with crypto proponents. The latter build their system on blockchain technology to keep intermediaries, including central bankers, out of their digital ecosystem. There is a hazy picture of where things are headed in the next few years: towards a regulated future. And during that time, the Midas touch will transform financial systems with a layer of technology.

    This is part of The Hindu’s tech newsletter Today’s Cache. Click here to subscribe for free.

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  • UK, tech experts make case for digital literacy, skill gap reduction — Technology — The Guardian Nigeria News – Nigeria and World News

    UK, tech experts make case for digital literacy, skill gap reduction — Technology — The Guardian Nigeria News – Nigeria and World News

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    UK Foreign and Commonwealth Development Office (FCDO) and experts in the Nigerian tech space have called for the implementation of policies to improve digital literacy and reduce the digital skill gap in the country.

    The experts spoke at the ‘Inclusive Digital Transformation Programme’ in Lagos to advance inclusive digital development through an enhanced policy and regulatory framework for the Nigerian economy.

    The event was attended by members of the public sector MDAs, ICT professional bodies, digital inclusion start-ups, and corporate players in the digital space.

    Guy Harrison, the economic counselor to the deputy high commissioner in Lagos, said the aim of the event is to create a sense of support and partnership between the public and private to create a framework that can provide the right regulations and provide safeguards that encourage the private sectors to contribute more to the Nigerian economy.

    Harrison noted that Nigeria has the potential to experience rapid growth in its Gross Domestic Product (GDP) through human capital development in the area of information technology and bridging the digital literacy gap.

    He said a review of existing digital frameworks can accelerate partnership opportunities between companies in Nigeria and the UK.

    “We have already taken a group of Nigeria companies to the UK by April from a matchmaking mission,” Harrison said. “We very much hope this will create a virtual circle of good governance, good regulations and framework that is great for Nigerians and businesses.”

    Faisal Naru, Executive Director at Policy Innovation Centre (PIC) said the policies being implemented by the government have to be right for there to be a good and enabling environment for people and businesses to thrive.

    “It’s important to have this kind of dialogue to make sure that the right policies are in place and that things are working right for businesses,” Naru said.

    “I expect in this conversation for us, first of all, to get different actors to start talking together, who maybe have not been speaking before at the federal level, state level, private sectors, donors funders, investor, banks. It’s important for them to speak together to understand what each other is going through and then co-create solutions that will actually work for people in Nigeria and for the better of the Nigerian economy.”

    Idongesit Udoh, Head, UK Digital Access Programme, noted that millions of people in rural communities are left behind in the broadband connectivity, adding that efforts have to be intensified to reach such people.

    Udoh said the UK access programme is working to help about 60% of Nigerians without digital skills to acquire one to function in the digital economy.

    He said the UK is partnering with key stakeholders to build digital skills capacity for women and girls, people living with disabilities, and those without basic digital skills.



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