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Experts Finger Insiders in Telcos for Rising SIM Swap Fraud

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Cyber security experts have berated telecommunications operators over the prevalence of SIM swap fraud in the country, arguing that such fraud could be possible with an insider in the network operator of the subscriber that is targeted.

 

SIM swapping is a sophisticated form of fraud and falls under social engineering. Fraudsters will distribute phishing emails, trying to ascertain as much personal information from victims as possible.

 

How it works

Your phone network will momentarily go blind without signal or Zero Bars and after a while a call will come through.

GSM coys.jpg

The person on the other side will tell you that he is calling from Airtel, MTN, 9mobile or Glo depending on your network and that there is a problem in your mobile network.

 

He will instruct you to Please press 1 on your phone to get the network back.

 

If you press 1, the network will appear suddenly and almost immediately go blind again (Zero Bars) and by that action, your phone is #HACKED.

 

It will appear as though your line is without network; meanwhile your SIM has been SWAPPED.

 

It is increasing by the day.  Within a second they will empty your bank account and cause you enough damage. The danger here is that; you will not get any alert of any transaction.

 

Responding to this Oluseyi Akindeinde, chief technical officer, Digital Encode, said that SIM swap is not new.

 

“A lot of the perpetrators have insiders in the telecommunications operator that allow them to do this. Nothing really can be done to check it unless they checkmate the guys inside the telcos,” he said.

 

William Makatiani, managing director, Serianu, said that SIM swap has become a lucrative enterprise in Africa particularly because of the increased adoption of mobile money services and mobile based authentication.

 

“Attackers gather enough information on a target such as ID details; Phone numbers etc through social engineering and create a false identity. Using this information, the attackers can contact the service provider and request for SIM card replacement and thereafter start transacting using your phone.

Tony Ojobo, director, Public affairs, Nigerian Communications Commission (NCC), acknowledged the existence of SIM Swap fraud and explained that it is a criminal act which is the responsibility of law enforcement agencies.

 

“SIM swap fraud is a criminal matter. What NCC investigate and sanction are issues around regulatory breaches and issues that contravenes terms of operators’ license. Just as if banks identify any of their staff that collude with fraudsters to perpetrate fund such persons are arrested and handed over to the police to prosecute and punish,” he said.

 

Apart from law enforcement agencies; Makatiani offered a number of ways to combat SIM fraud which includes; introducing additional checks for SIM reissuing such as security questions, avoid responding to unsolicited calls and text messages asking about your bank details.

 

Others are introducing user behavioral analysis (UBA) especially for financial institutions to monitor for key indicators of compromise and alert the customers as well as Adopting the IMSI (International Mobile Subscriber Identity) a unique number associated with a specific GSM phone to ensure one-time use codes are sent only to legitimate subscribers.

 

 

 

 

 


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Lebara Nigeria, MVNO Oils Machine for Q3 Launch with Personalized Number Reservations

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Lebara Nigeria is building excitement for its upcoming Mobile Virtual Network Operator (MVNO) launch, giving customers a chance to secure a personalized piece of their mobile identity.

Lebara Nigeria, MVNO Oils Machine for Q3 Launch with Personalized Number Reservations

The company has opened a Number Reservation Portal, allowing users to reserve their preferred mobile numbers before the official service goes live in the third quarter of 2025.

This strategic move is all about giving customers a sense of ownership from day one. Using the carrier’s 0724 prefix, users can choose a number that’s meaningful to them, whether it’s a birthday, a lucky number, or an easy-to-remember pattern.

The reservation process is straightforward. Users must be at least 13 years old and provide a few basic details to get a one-time password via email.

Once verified, they’ll need to enter their National Identification Number (NIN), which the system uses to confirm personal information.

After this, a list of available numbers appears, and a final confirmation email completes the reservation.

Lebara, a London-based global MVNO, according to yozzo.com,  is no stranger to the telecom world, with a strong presence as a mobile virtual network operator (MVNO) across Europe and other regions.

Its entry into Nigeria is a calculated move to carve out a space in the highly competitive market.

By allowing customers to pick their numbers early, Lebara hopes to build loyalty and highlight its customer-first philosophy.

The company plans to operate a lean, technology-driven model by leveraging existing network infrastructure, which will help keep costs low and make its pricing competitive.

At launch, Lebara will offer nationwide coverage, a dedicated 0724 number series, and both SIM and eSIM options.

Beyond traditional connectivity, Lebara is also partnering with local government and the Ministry of Arts, Culture, Tourism, and Creative Economy to launch public Wi-Fi hubs and promote digital inclusion for creators and underserved communities.

The core of its proposition is affordability, transparent billing, and a strong customer service model designed to challenge established players.

Lebara’s entry won’t be without its challenges.

It will face off against many other competitors in Nigeria’s emerging MVNO space.

This wave of new entrants comes after the Nigerian Communications Commission (NCC) issued 46 MVNO licenses, with many of the licensees expected to have already launched.

Despite this, the local media’s focus has largely been on only a couple of them, Vitel and now Lebara.


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Why Half of MVNOs in Nigeria May Collapse- Experts

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Telecoms stakeholders have cautioned that many Mobile Virtual Network Operators (MVNOs) in Nigeria could struggle to survive unless they address infrastructure gaps, target niche markets, and adapt to local realities.

Why Half of MVNOs in Nigeria May Collapse- Experts

The warning came during the sixth edition of the Telecoms Sector Sustainability Forum, organised by Business Remarks in Lagos on Tuesday.

According to the stakeholders, securing a license from the Nigerian Communications Commission (NCC) is not enough to ensure survival in a market dominated by major Mobile Network Operators (MNOs) like MTN, Airtel, and Glo.

Chidi Ajuzie, director of USK Mobile, highlighted the stark reality facing MVNOs, noting that none of the over 40 licensed operators have fully launched services.

“Licenses are not cash cows. Too many people think that once you get a license, the money will start rolling in. The truth is, you must build infrastructure, study the market, and create services that meet consumer needs. Without that, many MVNOs will die out quickly,” Ajuzie said.

Ajuzie pointed out that smaller operators, particularly those in Tier 4 and Tier 5 categories, face significant financial hurdles in building their own infrastructure to support capacity.

However, he sees this as an opportunity for innovation, urging MVNOs to target niche markets such as youth, migrant workers, or fintech services, as seen in successful models in South Africa and India.

“Half of us may launch, but only those with clear strategies will survive,” he warned, predicting mergers and consolidations in the coming years.

Tony Emoekpere, president of the Association of Telecommunications Companies of Nigeria (ATCON), echoed Ajuzie’s concerns, stressing that market differentiation is critical for MVNO survival.

“The MNOs already provide enterprise services, internet, and fintech. MVNOs must find gaps and focus on those,” Emoekpere said.

He cited Kenya’s M-Pesa, which revolutionized payments by targeting rural and low-income users, as a model for local innovation.

Emoekpere suggested that MVNOs could capitalize on Nigeria’s underserved rural areas, where millions lack access to reliable telecom and financial services. “Something as simple as a low-data package for POS machines in rural areas could be a game-changer,” he added.

Olusola Teniola, director, IPNX, cautioned against adopting foreign business models without considering Nigeria’s unique environment. “In some villages, people still travel by canoe or horse for hours to access basic services. If your business model doesn’t account for that, it will fail,” Teniola said.

He urged MVNOs to focus on the bottom of the pyramid, where millions lack basic connectivity, rather than competing for urban smartphone users.

Teniola also warned that failure to strengthen indigenous companies could lead to more profits leaving Nigeria through foreign-owned operators, emphasizing the need for policies to protect data sovereignty and foster local innovation.

The stakeholders said while MVNOs have the potential to expand Nigeria’s telecom sector and increase consumer choice, their survival hinges on strategic planning, niche targeting, and a focus on rural connectivity.

Without urgent action to address infrastructure challenges and adapt to local needs, many MVNOs risk disappearing before they can establish a foothold in Nigeria’s competitive telecom landscape.

 

 

 

 


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NCC Claims Nigeria’s Telecom Tariffs among Cheapest despite 50 Percent Hike

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Nigerian Communications Commission (NCC) has defended the recent upward review of telecom tariffs, insisting that Nigeria’s rates remain among the cheapest in the world due to strong industry competition.

NCC Claims Nigeria’s Telecom Tariffs among Cheapest despite 50 Percent Hike

Speaking at a media briefing in Abuja recently, Dr. Aminu Maida, executive vice chairman, NCC, said that despite a 50% hike in tariffs, call rates have only moved from ₦15 per minute in the early 2000s to about ₦18–₦19 per minute today.

“Even with the increase, not all operators adjusted their tariffs. Some are still undercutting others. That is competition at work,” Maida explained.

He assured that the commission will continue to strengthen regulations to encourage competitiveness and transparency.

According to him, NCC is adopting an information disclosure strategy to enable consumers to make informed choices.

Maida also cautioned Nigerians against relying on Truecaller for identity verification, stressing that it is not linked to Nigeria’s SIM registration database and often provides misleading results.

He noted that while all SIMs in use are registered, some individuals deliberately use proxies, including domestic staff, to register SIMs an act he described as a crime.

The NCC boss disclosed that in September, the commission will launch a coverage and tariff map to help subscribers compare network quality and pricing across operators.

He further revealed plans for spectrum trades and leases to optimise usage and improve service delivery, adding that most Nigerian phones already support 4G, which remains the “sweet spot” for mobile broadband.

Maida emphasised the need for fresh capital and stronger corporate governance within the sector to sustain growth, enhance service quality, and strengthen national security.


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