Ayo Akinola, Tosin Olaseinde, Abdulraheem Olanihun, Adekunle Owolabi Lead Finance And Tech Conversations At New Media Conference 2022 Edition

By Toluwalope Jombo On Nov 1, 2022

The 7th edition of the New Media Conference was held on Saturday, October 29, 2022, in Lagos at the British Council Nigeria with physical and virtual attendees from across the continent.

The 2022 edition focused on how viral media is shaping different facets of human interaction including arts, technology, finance, fashion, content creation, and politics.

According to Oluwatosin Ajibade, Founder/Convener, of New Media Conference and OSG Media Limited, “Understanding what the Viral Economy is, the opportunities and challenges it presents for all, and how to position within the space is imperative.”

Finance and technology specialists have pointed to the rising popularity of viral social media platforms as positive for financial literacy and awareness in Nigeria.

Experts at the 2022 edition of the New Media Conference (NMC) themed “The Viral Economy”, said that while financial technology is not new, the young demographic of Nigeria and its adoption of smartphones present a unique opportunity to propagate education on money, saving, and investment.

Tosin Olaseinde, CEO and Founder of Money Africa and Ladda explained:

Viral media is very important, and we have not scratched the surface yet,People should be talking about money in local dialects.

Tosin explained that money plays an important role in the day-to-day life of the average Nigerian, however conversations around money management are not common, a culture which has to be improved.

In addition, Ayo Akinola, Nigerian tech entrepreneur, public speaker, motivational life coach, and co-founder of Piggyvest, PocketApp, and Patronize, advocated for more Finfluencers that provide byte size easy-to-understand information about finance as a way to bridge gaps in financial awareness.

Beyond the consumers, he also noted that viral media is important for finance companies and brands to engage and build trust with their users.

He added:

Fintech companies have to use the media to promote their offerings and market to users.

Despite the upsides, the panels highlighted some limitations of viral media as a tool for advancing financial literacy.

Abdulraheem Olanihun, Product manager of Chipper Cash Nigeria noted:

First is misinformation which is when people do not verify what they share and the other is the increase in the promotion of unethical products.

Furthermore, Tosin mentioned that viral media per se is not sufficient to close the financial gender disparity for women.

We need to pay women as much as we pay their male counterparts, It is easy to get lost in fanciful terms but if women are not paid, nothing will change.

To solve the challenges of financial education in an age of over-sharing, misinformation, and Ponzi schemes, Adekunle Owolabi advised better regulation and collaboration between the private and public sectors.

He added:

The government needs to work with the industry and that is the only way we can move forward.

Ayo added that social media users should rely on information from verified sources and develop a culture of research.

He said:

Follow people that know what they are saying and compare information.

The panel session was moderated by Eric ‘Knewkeed’ Okafor, technology expert, and content creator. The event was hosted by Isabella Adediji, the founder of Yellow Tamarind Productions, a media, and PR company based in Lagos, and supported by The British Council Nigeria.

The event is powered by OSG Media and supported by the British Council Nigeria. Media partners for the event are News Central TV, Goldmyne TV, and Media Room Hub. For more information, visit www.newmediaconference.ng.

ABOUT THE NEW MEDIA CONFERENCE

The New Media Conference (NMC) has become an annual gathering of key stakeholders across diverse sectors aimed at improving digital marketing, technology, arts, and advertising standards in Nigeria’s online/digital media space since its inception in 2015.

Now in its seventh year following a successful maiden edition in 2015, New Media Conference has continuously deepened conversations around digital media, emerging technology trends, and harnessing opportunities in the digital economy. To stimulate insightful conversation, the NMC platform brings thought leaders, industry experts, and other stakeholders.

In past editions, the NMC platform has been graced experts including Larry Madowo (CNN Correspondent), Taiwo Kola-Ogunlade (Google Nigeria), Wana Udobang (Journalist and Poet), Subomi Plumptre (Alder Consulting), Ameyaw Debrah (Media Entrepreneur and Blogger, Ghana), Bidemi Zakariyau-Akande (LSF PR), Jumoke Okikiolu (Marketing Manager, Budweiser), Remi Ogunkoya (Red Media Africa), Chude Jideonwo (Joy inc.), Stephanie Busari (Senior Editor, CNN Nigeria Bureau), Aibee Abidoye (Chocolate City Group), Fela Durotoye, (Motivational speaker and Leadership expert), M.I. Abaga (Nigerian rapper and Record producer), Joey Akan (Podcaster and Founder, Afrobeats Intelligence) amongst others.

7th conference New Media Conference