Details have emerged on why President Bola Tinubu’s Chief Security Officer (CSO), Luqman Adegboyega Fasasi, was removed from his position.
POLITICS NIGERIA reports that Fasasi’s removal by the Department of State Service (DSS) became known on Sunday evening.
The explanation at the time was that he was replaced because he had been sent for professional training.
However, the real reasons behind this sudden change have now come to light. It appears that Fasasi’s removal is part of a larger reorganization of the DSS led by the new Director-General, Adeola Oluwatosin Ajayi.
President Tinubu appointed Ajayi in August 2024, tasking him with restoring integrity and professionalism to the DSS. Ajayi, a seasoned security expert, was chosen for his merit and competence and it is understood that his reorganization efforts have the full support of President Tinubu.
Sources reveal that Fasasi’s removal was due to several infractions, including allegations of using his position to secure multiple promotions within the service. He was reportedly promoted three times in just one year, leapfrogging more senior officers.
“He was promoted three times within a year, even above some DSS officers who were his seniors,” a source said. “Some of these officers had been in the service six to eight years before him.”
It was also learnt that the new CSO, Lawal, was due for promotion to Director in July 2023, but his promotion was delayed by the previous service management.
“He is among the Deputy Directors who should have been promoted to Director in July 2023, but their promotion vacancies were given to juniors, including Fasasi, Koko, and Milad, due to favouritism,” another source said.
Additionally, Fasasi faced accusations of high-handedness, arrogance, disrespect, and alleged corruption.
“Fasasi stepped on many toes around the President,” the source said. “Even the President was not entirely pleased with how he managed the office.”
As global industries move towards greater digitalization, the financial sector is no exception. Huawei, a global leader in information and communications technology, has positioned itself at the forefront of this transformation, offering a range of solutions to financial institutions worldwide. From core ICT infrastructure to AI-powered applications, Huawei’s role in modernizing the banking industry is extensive and multifaceted.
Huawei’s involvement in the banking sector began over a decade ago, and today, the company provides digital infrastructure to over 3,700 financial customers across 80 countries, including 53 of the top 100 banks globally. This article delves into Huawei’s key contributions, focusing on its infrastructure solutions, digital transformation initiatives, AI integration, and support for digital currency and financial inclusion.
ICT Infrastructure: The Backbone of Modern Banking
At the core of Huawei’s offerings to the banking sector is its ICT infrastructure. Banks require robust, scalable solutions to manage data storage, connectivity, and computing needs. Huawei has become a critical partner in this space, providing banks with storage solutions, cloud capabilities, and data centers that ensure high availability and security.
One of the company’s flagship products in this space is its flash storage solutions, which have been widely adopted by banks to enhance performance and reliability.
Digital Transformation: A Necessity for Survival
Digital transformation in the financial sector is driven by the need for efficiency, real-time data processing, and improved customer experiences. Huawei has played a pivotal role in helping banks modernize their IT systems, enabling them to move away from legacy architectures and adopt more agile, cloud-based solutions.
A key aspect of this transformation is the adoption of real-time data platforms, which enable banks to process and analyze data as it is generated. This has been particularly important for risk management, where real-time data allows banks to detect and respond to potential fraud within milliseconds.
AI Integration: Enhancing Efficiency and Customer Experience
Artificial intelligence (AI) is another area where Huawei has made significant contributions to the financial sector. AI-powered solutions are helping banks improve customer service, streamline operations, and enhance risk management. Huawei has been working with banks to integrate AI into various business processes, from customer service to coding and even report generation.
For instance, A Bank has implemented AI in its daily operations to support tasks such as generating customer service support, assisting with coding, and analyzing trends in financial data. AI also plays a key role in enhancing customer interactions. For example, when a customer visits a branch, AI systems can guide bank employees on how to respond to customer inquiries based on the customer’s profile and interaction history.
One of the most significant applications of AI in banking is in risk management. Huawei has helped A Bank deploy AI systems that can detect potential risks and fraud in real-time, allowing the bank to take action within milliseconds. This level of precision and speed is crucial in today’s fast-paced financial environment, where even minor delays can lead to significant financial losses.
Bridging the Gap
Financial inclusion is a key priority for Huawei, particularly in developing regions where large segments of the population remain unbanked. Huawei has been involved in several initiatives aimed at providing financial services to these underserved populations, using mobile technology to bridge the gap between traditional banking and the unbanked.
In Bangladesh, Huawei has worked with local partners to develop a network of 330,000 agents who provide basic banking services to people in rural areas. These agents act as mini-bank branches, allowing customers to deposit and withdraw money, transfer funds, and access other banking services without having to visit a traditional bank branch.
Huawei’s mobile money solutions have had a significant impact in countries like Bangladesh, helping millions of people access financial services for the first time. This has not only improved financial inclusion but has also contributed to economic development by enabling more people to participate in the formal financial system.
Cloud Solutions: Flexibility and Scalability
Huawei’s cloud solutions are another key component of its offerings to the financial sector. Banks are increasingly moving towards cloud-based systems to improve flexibility, scalability, and cost-efficiency. Huawei provides a range of cloud solutions, from hybrid clouds that combine on-premises and cloud infrastructure to high-scale cloud environments that can support large enterprises.
For example, Huawei’s HC Huawei Cloud is a high-scale cloud solution that supports a wide range of industries, including finance. This cloud infrastructure enables banks to deploy applications more quickly, improve operational efficiency, and reduce costs. While many banks, especially larger ones, still prefer to maintain their own data centers for certain critical applications, the trend towards cloud adoption is growing, and Huawei is well-positioned to support this shift.
Huawei’s role in the financial sector goes far beyond providing hardware and infrastructure. The company is a key partner in driving digital transformation, enabling banks to adopt new technologies like AI, big data, and digital currencies. By helping financial institutions modernize their IT systems, Huawei is not only improving operational efficiency but also enhancing customer experiences and enabling greater financial inclusion.
As the financial sector continues to evolve, Huawei’s solutions will remain critical in helping banks navigate the challenges of digital transformation. Whether through ICT infrastructure, AI integration, or cloud solutions, Huawei is shaping the future of finance, one innovation at a time.
Case Study: UnionDigital Bank – A Model of Digital Banking Transformation
One of the prime examples of Huawei’s digital transformation efforts in the financial sector is its collaboration with UnionDigital Bank in the Philippines. As a fully digital bank, UnionDigital needed a robust and scalable infrastructure to meet the demands of modern banking, including security, real-time data processing, and seamless customer experience. Huawei played a pivotal role in supporting UnionDigital’s mission to provide inclusive financial services across the Philippines.
By leveraging Huawei’s cloud and AI solutions, UnionDigital Bank was able to scale rapidly while maintaining flexibility and high security. Huawei’s end-to-end solutions, including its cloud infrastructure and AI-driven analytics, helped UnionDigital build a digital ecosystem that could support its goals of financial inclusion and personalized banking services.
Huawei’s cloud platform allowed UnionDigital to accelerate application deployment, enabling the bank to release new digital products faster and respond quickly to customer needs. Additionally, Huawei’s AI capabilities were integrated to offer real-time data analytics, enhancing UnionDigital’s ability to monitor customer behavior, detect potential risks, and deliver a tailored banking experience.
This partnership showcases Huawei’s ability to empower banks through cutting-edge technology, allowing them to operate with the agility and innovation of a tech company while maintaining the stability and security required in the financial sector. UnionDigital’s success story is a testament to how Huawei’s comprehensive solutions are transforming the landscape of digital banking in emerging markets.
Even as you click on on a link and assemble a aquire notify we are able to also receive a diminutive fee. Read our editorial policy.
Chris Tapsell stories abet after a week on the floor.
Image credit score: GDC
This week on the Eurogamer Newscastwe digest the final seven days of headlines from GDC 2024 – a convention that used to be unsurprisingly colored by the past 18 months of industry turmoil. Eurogamer’s Chris Tapsell used to be there, and joins us on the novel time to advise abet on what used to be being acknowledged on the floor.
From this facet of the pond, we noticed the neatly-liked arouse at mass layoffs and the scepticism surrounding AI. But what used to be the mood at GDC 2024 surely like – and how did game builders there surely surely feel? Chris fills us in on what he heard – and why, at a convention filled with dozens of builders presenting their perfect work, the mood wasn’t exclusively doom and gloom.
Take a hear to hear Chris’ favourite moments from the state – plus renditions of a Mario vitality-up sound enact from him and Newscast atypical Victoria Kennedy. Blup-blup-blup!
