Telecom
Chief Commercial Officer of Itex, Adekunle Adebiyi Highlights Role of Fintech in Financial Inclusion

Adekunle Adebiyi, Chief Commercial Officer at Itex Integrated Services Ltd, spoke extensively on the impact of fintech and Nigeria’s financial inclusion goals, in a recent interview on popular Lagos radio station, Nigeria Info FM.
Adebiyi shed light on the role of fintech in the country’s financial inclusion strategy, and how a focus on rural distribution can help reach more unbanked Nigerians. “Fintechs work with traditional banks to improve the sustainability and accessibility of the services they offer to the public.
“Because of this, distribution is crucial if we are to reach Nigerians without bank accounts. Rural areas, where more unbanked people reside, must become the focus instead of metropolitan and semi-urban areas.
“As a country, we have made progress toward financial inclusion, but if we are to meet our goal, we must use financial technology.”
Rural communities continue to suffer as banks cut operational costs by reducing the number of ATMs and branches, focusing instead on getting more customers to embrace digital banking through smartphones. Yet, 40 percent of adults living in rural areas have no formal bank account and limited smartphone access.
Thankfully, PoS terminals and mobile money agents are increasing, providing financial services and, in some cases, acting as an agent through which the unbanked can open tier 1 bank accounts requiring only passport photographs.
It was important to understand that traditional banking and fintech were both sides of the same coin. “Traditional banking and financial technology are not on either side of the divide; I see a convergence. Fintech is about using technology to enhance the process of financing, making it easier, accessible and sustainable.
For example, Itex has made buying electric bills easier; with a mobile device you can top up and pay for power without leaving the comfort of your home, that’s the effect of financial technology.”
Although Nigeria has the largest economy in Africa and is home to five of Africa’s seven unicorns, its target for financial inclusion as stated in the National Financial Inclusion Strategy (Revised) in 2018 had a goal to reach 80% financial inclusion in the year 2020, but only 64% of Nigerian adults were financially included by the end of 2020.
According to World Bank’s 2021 Global Findex, Nigeria was one of seven nations that contributed to half of the world’s unbanked population. By the end of 2021, the number of financially excluded persons in Nigeria was estimated to be 38 million, even though the gap between banked and unbanked people has been closing since 2011.
These numbers are not surprising given that 47.25 per cent of the Nigerian population live in rural areas and cannot get efficient financial services because most traditional banks do not have extensive branch networks.
However, Nigeria is progressively narrowing the gap between the banked and unbanked, and the Central Bank of Nigeria’s goal for financial inclusion no longer feels like a far-off dream since the rise of fintech and agent banking in the financial sector.
Following the COVID-19 pandemic, digital financial transactions increased by 325 per cent to ₦704.04 trillion in 2020 from ₦165.8 trillion in 2019.
According to NIBSS data as of August 2022, the volume of financial transactions in a month had reached an all-time high, totalling ₦238.7 trillion. Nigerians may support the CBN’s cashless strategy, but that does not necessarily mean that the unbanked have increased access to these financial services. As a result, fintech is crucial in Nigeria’s effort to achieve financial inclusion.
The Central bank of Nigeria has set a target to reach 95 per cent financial inclusion by 2040. With innovations spearheaded by fintech, an increase in mobile money operators, the recent increase in Nigeria’s financial inclusion rate, and collaboration among stakeholders, the projection is not nearly as unachievable as it may have seemed years ago.
Telecom
NCC Asks Consumers to Monitor Data Usage to Authenticate Consumption

Nigerian Communications Commission (NCC) has charged the over 174 million telecoms subscribers in the country to constantly monitor their data usage to authenticate their consumption level.
This follows concerns being raised by telecoms consumers about the rapidity of data depletion on their devices.
The Commission particularly enjoined the consumers to always contact their service providers to make requests for cases of discrepancies noted in their data usage.
While the consumers are expected to contact their service providers to request for their usage history/statement where inconsistency exists in their data usage as first step, the Commission said they may also escalate such issues to the Commission through its toll-free Number 622 and social media platforms, especially if their requests are not satisfactorily handled.
The Commission, which also made some clarifications regarding the concerns being raised by the consumers around data usage, said the need to inform the consumers on their concerns is part of its commitment to protect and appropriately inform and educate the telecom consumer on industry issues.
Making further clarifications around data speed and usage, the Commission said data speed is the speed at which data is transferred between two devices, measured in megabits per second (Mbps or mbps), stressing that given the spread of Internet services and the immense investment in the sector, data rates have continued to increase and users may be unaware of how to measure data speed.
The telecoms regulator explained further that websites such as www.fast.com also provide an easy way for consumers to measure Internet speed on any device at any location.
“The higher the data speed, the quicker pages load-downloads and uploads-occur and expectedly, the quicker data bundles are exhausted. So, as telecom consumers are able to do more on devices in less time, some consumers’ devices & network service providers make it possible to limit data speed to help users manage data usage better.
“In any case, most devices now include functions to measure data used by devices and it is imperative that users monitor same to authenticate data usage, such as applications left running on devices. Therefore, where discrepancies occur users may contact their service provider to request for their usage history/statement. If request is not dealt with satisfactorily then, users can contact NCC by calling 622 or engage the Commission via its social media platforms”.
It added that the data usage experience is a function of location, network equipment and users connected in a particular location.
Telecom
Phone Theft: AMCODET Urges Mandatory Registration @ Point of Purchase

Association of Mobile Communication Device Technicians of Nigeria (AMCODET), has called on the Nigerian Communications Commission (NCC) to make it mandatory for mobile phones to be registered at the point of purchase.
According to Kehinde Apara, president of AMCODET, implementing this registration process would significantly help in combating phone theft and assist in locating stolen devices.
Apara, made this appeal in an interview in Lagos on Monday.
He stated, “Registration of mobile phones will reduce theft to the barest minimum, as it will be difficult for thieves to sell registered stolen phones.”
Apara explained that the registration of new phones would also help to reduce the harassment faced by technicians by security agencies.
“So many of our members have been labelled accomplices in theft cases, because customers bring stolen phones to them to repair. We believe this is unfair to such innocent people,” he said.
He went on to highlight that the NIN-SIM linkage, which was originally an idea brought forward by AMCODET, was created to curb insecurity and theft.
However, Apara pointed out that “It is not enough.”
He stressed the need for further measures to ensure the proper registration of mobile phones, emphasising that such a step would make it easier for technicians to identify stolen devices brought in for repair or flashing.
“AMCODET has been at the forefront of organising seminars on the security of mobile phones and has also been sensitising the public and authorities on the challenges faced by the association due to phone theft. There is no way our members can identify if a phone is stolen when brought to them for repairs or flashing, but if the phone is registered, the technician can more easily identify it,” he explained.
Apara also expressed a desire for closer collaboration with security agencies, saying, “We want to work with security agencies to ensure that phones are properly registered, theft is prevented, and thieves are brought to book.”
In additin to the call for phone registration, Apara appealed to individuals and the private sector to support efforts to develop the mobile phone industry in Nigeria.
He remarked, “We need individuals’ support to develop our industry, rather than relying on government for everything.”
He emphasised that Nigeria has the capacity to develop its own technology and reduce reliance on imported devices, “With the support of individuals and the private sector, Nigerians can begin to develop its own technology, rather than relying on imported technology.”
Apara expressed optimism for the future of the mobile phone industry in Nigeria, believing that with the right support, the country could build its own technological solutions and move towards greater self-reliance.
“We can develop our own technology.”
“But we need the support of individuals and organisations to make it happen,” he said.
Credit: NAN
Telecom
Apple Faces €150M Fine in France Over Alleged Antitrust Violations

French antitrust regulators have fined Apple 150 million euros ($162 million) over its App Tracking Transparency (ATT) feature, which is facing scrutiny in multiple European countries.
The French Competition Authority ruled that Apple’s implementation of ATT was “neither necessary nor proportionate to the company’s stated goal to protect user data” and unfairly penalized third-party publishers.
Alongside the financial penalty, Apple has been ordered to publish the decision on its website for seven days. The ruling comes amid ongoing investigations in Germany, Italy, Romania, and Poland into ATT, which Apple introduced in 2021 as a privacy safeguard.
ATT requires apps to obtain explicit user consent via a pop-up before tracking activity across other apps and websites. If users decline, the app loses access to their advertising identifier, limiting targeted advertising. Critics argue that the system disproportionately benefits Apple by restricting competitors while promoting its own advertising services.
The French watchdog found that ATT forces users to navigate excessive consent windows for third-party apps on iPhones and iPads, making the process unnecessarily complicated.
Additionally, Apple’s system requires users to opt out of ad tracking twice rather than once, which the authority said undermines the feature’s neutrality and causes economic harm to app publishers and ad service providers.
The ruling emphasized that smaller publishers, which rely heavily on third-party data collection for revenue, are particularly affected.
The French regulator initially declined to impose emergency measures in 2021 after complaints from the advertising industry, but continued its investigation, ultimately leading to Monday’s decision.
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