Category Archives: Business

Cashless Nigeria by Force, by Fire!

I was recently reviewing a CBN report on Cashless Nigeria and it is scary to know that 65% of Cash in Circulation is outside the banking system. I guess everything the CBN can do to cajole those who have ecstasy at the sight of cash wouldn’t work. Time we did it differently. What will happen if […]

50,412,559 Nigerians on the Internet

The reality is, I’m not much better than the armchair consultants I ranted about. Some months ago I wrote that Nigeria doesn’t have more than 17M internet users. I did my calculation based on MTN’s year end result and extrapolated that for the whole industry. Please read paragraph 5 of page 50 of the MTN […]

Do we understand data?

Nobody can correlate anything around here – I mean Nigeria. For example we still can’t wrap our heads around the idea that 170 million Wazobians crammed into Nigeria is a joke. Someone pointed to the number of GSM lines but wait, can’t he see that everyone has at least 2 lines? Now that the networks […]

The Beginning of New Things

Something magical happened last week – the average man on the street didn’t even notice or cared but then it would probably have more influence on the fortune of this country than anything else that ever happened to us. Well, GEJ didn’t resign – that’s too obvious. BH didn’t declare cease fire – that probably […]

Blackberry’s Lunch Up for Grabs

About 3 years ago, I predicted that Blackberry would eat Nokia’s lunch. It wasn’t a prediction that required too much clairvoyance, it was apparent that Nokia was running down a slippery slope. Too bad, Blackberry ate not only the lunch but also the dinner. As far as Nigeria is concerned, Nokia is going through a […]

POS is a Screen-door on a Nigerian Submarine

Sometimes I find it humorous seeing banks wring their hands at the disastrous investments made in POS. As the CBN was hell-bent on dragging each off us across the generational divide of cash versus electronic payment, it found willing allies in banks. Don’t get me wrong, I’m all for electronic payments or commerce. It is […]

Nigeria has 17M Internet Users, More or Less

Some people have been throwing some fantastical numbers about Nigeria having 43 million internet users. I really don’t know who cooked up this ultra-sloppy data but no wonder the over-creamed salad of consultancy advices smell like rancid skimmed milk. If Nigeria has 43 million internet users then I probably have a pink elephant, with wings, […]

Crashing the Cost of Banking: The Bitter Sweet Experience

The Central Bank (of Nigeria, if you really want to know) has been at the fore-front of financial inclusion, and oh, at the forefront of cashless economy. Obviously they decided to mash the two together. Kudos can be given to CBN for forcefully yanking our sorry backside from comfortable banking to make things really cashless. […]

Using Outlook.com for your Custom Domain/Email

Google Apps rocks, we all know that. Google knows we know that. So they yanked the rug off our feet. Google Apps started with 500 free users then 50, then 10. Now nothing. Some of my friends have joined the vanity bandwagon of your firstname@yourlastname.com but as vain guys go, we are cheap. We want […]

Poor Support and Initiatives from Payment Gateway Providers Kills ECommerce in Nigeria

In my recent online payment experiments, I worked with both Magento and OpenCart. While Magento is complex enough to make even a bishop go raving mad, it still came with some payment modules/plugins out of the box. Same for OpenCart. Conspicuously missing are the modules from top payment gateways in Nigeria. From my own firsthand […]