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Founder Institute’s First Startup Legal Session Comes Up on 23rd of January

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All is now set for the Stanbic IBTC Founder Institute Lagos first Startup Legal – a session with experienced legal experts passionate about startups and enterprise development in general.

 

This is in line with the institutions tradition of continuously adding value to the ecosystem.

 

Join Sandra Oyewole, Partner, Olajide Oyewole LLP; Chinwike Ezebube, Lawyer, Tochukwu Onwugbufor & Co (SAN) & Timi Olagunju; Senior Consultant, Grounds Consulting at the 2020 Startup Legal Session which comes up by 5pm on 23.01.2020 at NG Hub, Yaba.

 

In this session, participants will learn the basics of setting up a Limited Liability Company. The concept of shareholding, company membership and directors.

 

They will learn about various types of incorporation and how it creates a juristic personality that is different from the founders.

 

The session will also explore the concept, role and dynamics of a co-founding relationship. The type of relationship that exist between cofounders and how best to structure a co-founding agreement, taking into cognizance such concepts as vesting arrangements and majority shareholding.

 

Participants will be taken through a crash course on Intellectual Property and the different classes of intellectual property rights that exist, when and how to apply them. Plus, learn how to ensure they secure ownership rights for their inventions and technology products

 

Chukwuemeka Fred Agbata Jnr, regional director, Founder Institute, shares more on how this legal session will add value to the Ecosystem.

 

“Founder Institute has a global tradition of value, which simply means look out for the good of the entire ecosystem, irrespective of affiliation or relationship.

 

“FI Lagos is not any different, we want the entire ecosystem to benefit from this session regardless of whether or not they are part of the global FI family”. He concluded.

 

A grasp of various Legal matters will help founders to ensure that they are not labouring in vain for third parties.

 

The session will highlight the different agreements that are necessary for startups to properly regulate their business relationships across a wide range of interests. Ranging from Non-Disclosure and Non-Circumvent Agreements, Shareholders Agreement, Software Licensing Agreements, Intellectual Property Assignment Agreements, Terms of Use, Employment Contracts (distinguishing between a Contract of Service and a Contract for Services), etc.

 

Finally, participants will learn the different taxes that apply for their business. The session will explore the concepts of Tax Avoidance and Evasion as well as explore existing tax incentives that apply to their businesses.

 

Startups should remember, that it is NOT advisable to launch their enterprise or go into partnerships WITHOUT some form of legal counsel and this is precisely what Founder Institute is offering to them at this session completely free of charge.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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MTN Nigeria Reschedules Champs Uyo Finale to Honour Late Chairman Pascal Dozie

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MTN Nigeria has announced the rescheduling of the MTN Champs Grand Finale to honour the legacy of its founding Chairman, Mr. Pascal Gabriel Dozie, who passed away on April 8, 2025.

The Grand Finale, which was originally scheduled to hold from April 30 to May 3, will now take place from May 6 to 9, 2025, at the Godswill Akpabio International Stadium in Uyo, Akwa Ibom State.

Dozie was a visionary leader whose pioneering role laid the foundation for what MTN has become today. For 18 years, from 2001 to 2019, he served as Chairman, leading with strength and conviction.

As one of Nigeria’s most respected businessmen and a champion of private sector development, he played a vital role in securing the GSM licence that launched MTN’s operations in Nigeria. His legacy continues to shape the company’s values and commitment to nation-building.

In a statement released earlier by the company, MTN Nigeria expressed deep sadness over his passing and extended heartfelt condolences to his family and loved ones.

“His unwavering belief in Nigeria’s potential and his dedication to its development were truly inspiring. His leadership at MTN Nigeria laid the foundation for our success, and his legacy will continue to guide us in the years to come,” said Karl Toriola, Chief Executive Officer, MTN Nigeria.

The MTN Champs initiative, launched in 2023, with the aim of building future olympians for Nigeria. It is MTN Nigeria’s bold commitment to discovering and nurturing the next generation of track and field athletes across the country.

Following regional competitions in cities such as Benin and Lagos, the Grand Finale in Uyo will bring together the most promising young talents from across Nigeria.

The new date allows athletes, fans, and partners alike to honour the memory of Mr. Dozie while continuing the spirit of excellence and youth development that he championed.

As the country and the MTN brand continue to mourn the loss of a trailblazer, MTN Nigeria remains steadfast in its mission to empower the next generation, on and off the track.


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EU Fines Apple and Meta €700m in Landmark Digital Markets Act Enforcement

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European Commission has imposed landmark fines on tech giants Apple and Meta in the first enforcement actions under the Digital Markets Act (DMA), a new regulatory framework designed to enhance consumer choice and ensure fair competition in the digital economy.

Apple was fined €500 million (£428.3 million) for restricting app developers from guiding users to alternative purchasing options outside its App Store, a practice the commission said limited access to more affordable offers and stifled competition.

The commission has ordered Apple to amend its App Store policies by late June to comply with the DMA, warning that failure to do so could result in further daily penalties.

Meta, the parent company of Facebook and Instagram, was fined €200 million (£171.3 million) over its ‘pay or consent’ model, which required European Union users to either pay for an ad-free experience or consent to personalised advertising.

The commission found that this model failed to offer users a genuine choice and violated rules governing data processing and user consent. Meta’s revisions to this model, made in November 2024, are currently under review by the EU.

Both companies have pushed back against the commission’s decisions. Apple announced plans to appeal, stating that the ruling was unjust and detrimental to user privacy and security. “Today’s announcements are yet another example of the European Commission unfairly targeting Apple in a series of decisions that are bad for the privacy and security of our users, bad for products, and force us to give away our technology for free,” the company said.

Meta also criticised the EU’s approach, claiming that it imposes undue burdens on successful American companies while allowing competitors from China and Europe to operate under different standards. Joel Kaplan, Meta’s chief global affairs officer, said, “This isn’t just about a fine; the Commission forcing us to change our business model effectively imposes a multi-billion-dollar tariff on Meta while requiring us to offer an inferior service.”

The fines are part of a broader effort by the EU to clamp down on dominant digital platforms, known as ‘gatekeepers’, and ensure they do not abuse their market positions.

The commission has also concluded an investigation into Apple’s compliance with DMA rules on browsers and default apps, acknowledging changes that have opened up more space for competition.

However, Apple remains under scrutiny for its handling of alternative app marketplaces, which could attract additional penalties.

The enforcement measures may further strain transatlantic relations, with some in the United States, including former President Donald Trump’s administration, criticising the EU’s digital regulations as disproportionately targeting American firms.

Despite the pushback, the European Commission insists that the DMA is enforced impartially to safeguard consumer rights and foster a level playing field in the digital market.


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Nigeria Hits 1 Terabit Internet Traffic Milestone

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IXPN, Nigeria’s leading Internet Exchange Point, is proud to announce a landmark achievement: crossing 1 Terabit per second (1Tbps) in aggregate peak domestic internet traffic for the first time.

Nigeria Hits 1 Terabit Internet Traffic Milestone

This milestone signifies a major leap forward in developing Nigeria’s internet infrastructure and underscores the critical role of local internet infrastructure in driving economic growth, innovation, and connectivity for millions of Nigerians.

“This milestone is more than just a number. It’s a symbol of Nigeria’s digital maturity and our united strides towards becoming a tech-driven nation. By keeping local internet traffic within Nigeria, we reduce costs, improve speeds, and ensure our digital economy thrives with homegrown infrastructure.” said Muhammed Rudman the CEO of IXPN.

“Achieving 1 Tbps is a significant victory for Nigeria’s ICT ecosystem, a breakthrough for domestic internet traffic. It serves as a catalyst, enabling millions of Nigerians to enjoy faster, more affordable, and resilient internet connectivity.”

1 Terabit per second is a game-changer for Africa’s most populous country. To put it in perspective:

  • Mega Video Calls: A speed of 1 Tbps can support over 1 million concurrent Zoom calls, allowing students, entrepreneurs, and professionals to connect and drive Nigeria’s digital revolution.
  • Streaming Frenzy: With 1 Tbps, more than 200,000 people can stream HD Nollywood films or movies on Netflix simultaneously without any buffering or interruptions.
  • Data Superpower: This speed enables the transfer of the entire contents of 50,000 smartphones—including photos, apps, and videos—in just one second.

For Nigeria, hitting this milestone means reducing reliance on international bandwidth, decreasing latency for local services, and strengthening our position as Africa’s digital heartbeat. This milestone is a testament to the power of collaboration, innovation, and the relentless pursuit of a faster, more connected Nigeria.

This accomplishment goes beyond technical advancements; it has significant economic implications. By encouraging local traffic exchange, IXPN reduces dependency on international bandwidth, leading to:

  • Significant Cost Savings: By utilizing local data exchange, Nigerian businesses can save millions of dollars annually on international bandwidth fees.
  • Enhanced Speed and Connectivity: With reduced latency, users experience smoother streaming, gaming, and real-time services, enhancing their overall online experience.
  • Increased Resilience: Strengthening Nigeria’s internet infrastructure protects against global disruptions, ensuring consistent access to vital services such as healthcare and education.
  • Improved Efficiency: Optimizes digital services like fintech, edtech, e-commerce, and e-health, propelling innovation and growth in these sectors.

Surveys conducted among IXPN members over the years have shown a growing percentage of local internet traffic in Nigeria. A recent report indicates that some connected members can localize or domesticate up to 70% of their internet traffic through IXPN.

“As more content providers, ISPs, banks, and public institutions localize their traffic through the IXP, end users benefit directly,” added Raphael Iloka (Marketing Manager). “We’re not just routing data — we’re building the foundation for Nigeria’s digital economy.”

The 1 Tbps peak highlights the remarkable impact of collaboration among all stakeholders. This milestone is a significant achievement not only for IXPN, but for the entire ICT ecosystem.  IXPN deeply appreciates the vital contributions of all stakeholders involved.

To our Members and Partners: Your trust and participation have been essential to our growth. Together, we have established a hub where networks can interconnect, innovate, and thrive.

To the Government and Regulators: We express our sincere appreciation to the Nigerian Communications Commission (NCC) for all its support over the years and its vision of a digitally inclusive Nigeria.

To our Team: We extend our gratitude to our engineers, network administrators, and all other staff who work tirelessly behind the scenes to push boundaries.

To the Global Community: We are grateful to partner organizations like the Internet Society (ISOC). Your support and advocacy in domestic peering empower us all.

Reaching 1 Tbps is just the beginning. As data demands skyrocket with AI, IoT, 5G, and immersive technologies, IXPN is committed to staying ahead of the curve. Here’s how:

  • Scaling Infrastructure: We are investing in advanced hardware and software to support multi-terabit capacities.
  • Enhancing Resilience: We are strengthening our network to ensure uptime, security, and adaptability in an ever-changing digital landscape.
  • Empowering Underserved Communities: We aim to expand our reach to rural areas, bridging the digital divide, and supporting agritech, edtech, and telehealth.
  • Strengthening Africa’s Digital Sovereignty: Partnering with regional IXPs to keep Africa’s data on the continent.

 


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