The Lagos State Commissioner for Finance, Dr. Rabiu Olowo has stated that technological innovations will play a crucial role in the implementation of the T.H.E.M.E.S Agenda.
Speaking at a five-member panel discussion organised by the Chartered Institute of Management Accountants with the theme: “Finance Agility in Digital World: Nigeria Branch Discuss 2019”, held at Southern Sun Hotel, Ikoyi, Olowo said that critical sectors of the State must be digitised to accentuate the policies and programmes of the government towards achieving the T.H.E.M.E.S objectives.
The Commissioner disclosed that having realised the challenges and ample opportunities inherent in digital innovations in the public sector, the present administration gives the highest priority to transforming the operations of the State’s financial system.
He reiterated the administration’s determination to explore digitisation and technological innovations for optimal project performance and enhanced project monitoring process.
“Technology is the loop to trigger innovations, improve the financial system, grow businesses and transform the society. But for technology to achieve desired impacts, people need to be equipped, readied and motivated to be able to leverage digital innovations in manners that benefit individuals and society. Every effort of the State is, therefore, geared towards achieving operational excellence, through digitisation”, he emphasised.
Speaking further, Olowo affirmed that technology is effective in driving business and achieving a better financial system, noting, however, that stakeholders must respect regulations inherent in digitisation in order to enhance mutual growth and gains for all.
While delivering the keynote address, the Chief Executive Officer of 9mobile, Mr. Stephanie Beuvelet, said people and businesses need to anticipate the digital transformation that will bring a lot of rapid changes, especially in robotic engineering, artificial intelligence and mobile technology.
He predicted a society where technology would unleash more capability, versatility and possibility in financial, business and social transactions as our society is gradually embracing the cashless principle.
Beuvelet advised businesses and financial institutions to move from a linear method of operation to a more dynamic and digitally driven system with a potential for delivering reliable and accurate results.
Other members of the panel are Mrs. Funmi Adesina, Chief Operating Officer, EFINA; Mr. Babatunde Osho, Managing Director, Metrofile, Nigeria and Mr. Lawrence Amadi, Partner Technology Advisory/Head Technology Assurance, KPMG.
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Olusegun Akinleye is a social critic, prolific journalist/writer with a vast experience in news gathering/writing, Public Relations and Branding. Olusegun is an alumni of the prestigious Nigerian Institute of Journalism.