News
Harsh Environment: Experts Ring Worry, NCC Assures

Telecommunications operators have painted a gloomy outlook for the sector over the next 18 months urging for urgent underpins to ensure the survival of the only thriving sector of Nigeria’s economy hobbled by years of mismanagement and neglect, Nigeria CommunicationsWeek can report. With so many issues hanging in the balance including; poor quality of service (QoS); multiple taxation; vandalisation of telecom equipment; and the notoriously unreliable public power supply, the operators warned of uncertain future. But as the operators bemoan the operating environment, the Nigerian Communications Commission (NCC) indicated that a number of licenses would be auctioned this year, painting a reversed viewpoint of the sweet sour nature of the industry. Titi Omo-Ettu, president of association of telecom companies of Nigeria (ATCON) submitted at a one-day stakeholders’ submit convened by the NCC, in Lagos at the weekend that mobile operators expend an incredible N45.9 billion (approximately $2.9B) annual bill on diesels in running power supply to their infrastructure. Omo-Ettu, whose “Critical Issues of Quality of Service & Tariff in immediate future of Nigeria’s Telephone Services’ presentation received wide acceptance from the participating audience waxed worriedly. His words: “Telephone Operators use 25 million litres of diesel monthly to fuel 20,000 generators located at over 15,000 cell sites in the country. At a current pump price of N153 per litre of diesel, operators will spend N3.82bn to fuel their generators monthly”. Elsewhere, Ms. Funke Opeke, CEO of MainOne Cable Company, pioneer open access undersea fibre optic cable system in West Africa noted that the NCC needs more regulatory authority to ensure a framework for shared infrastructure in the country. She noted that some operators were unwilling to share critical telecom infrastructure with other operators, hence the cost of carrying bandwidth from Lagos to Abuja in the North of the country was more expensive that same ratio from London to Lagos. Opeke said that Nigeria cannot attain the envisaged rank of a top 20 economy by the year 2020 without attaining the right infrastructural goals to attract critical investment to the economy. Also, Gbenga Adebayo, president of association of licensed telecommunication operators of Nigeria (ALTON), said one way of resolving the challenge pose by the poor QoS was to regig the NCC to a ‘one-stop-shop’ for telecom investment. “This new framework need be transparent in operation, set approval time-limit for application. There also needs be extensive public education; and more importantly, the passage of a critical national infrastructure law – protection of telecom infrastructure and investment is needed to drive the next phase of development,” said Adebayo. Despite the litany of complaints, the NCC reeled out some cheering news aimed at reinvigorating the sector. Dr. Eugene Juwah, executive vice chairman and CEO of NCC, stated that inspite of poor QoS issues making the top headlines in the country, “definite measures,” are being taken to bring down the situation. “One of such measures is the recent approval and gazetting of the QoS regulations by the Federal Ministry of Justice. This will strengthen the NCC to take some severe measures when services providers are found wanting,” said Juwah. Juwah stated that Broadband development will be vigorously pursued to enhance competitiveness in the telecom sector and bring down pressure on mobile operators. The more cheering gist was intended resuscitation of the moribund fixed line segment of the telephony industry. “We are also looking at resuscitating the fixed line sector by giving out new licenses and in doing this, increase telephony penetration. The choice of this twine action, we expect, will enhance choice of products and services, reduce over reliance on mobile services and encourage internet usage, which is the future of ICT,” said Juwah.
News
DBN Awards N13m in Grants to Tech Startups

Development Bank of Nigeria (DBN) has awarded a total of N13 million in grants to three standout tech startups at the 2025 Techpreneur Summit held in Lagos, reinforcing its commitment to innovation and inclusive growth among Nigeria’s micro, small, and medium enterprises (MSMEs).
The winners include: BuyScrap, a digital marketplace for recyclable materials – N6 million; Qiqi Farms, which connects local farmers to hospitality and export markets – N4 million; Eco-Cyclers, a youth-led recycling initiative based in Enugu – N3 million
Alongside the grant awards, DBN also launched a new digital data asset, a first-of-its-kind platform aimed at enabling data-driven decisions within the MSME ecosystem.
The platform offers deep insights into business trends, sector-specific challenges, and growth opportunities—supporting smarter policymaking and targeted investments.
In his keynote address in Lagos, Tony Okpanachi, managing director/ CEO, DBN, described the event’s theme, “CTRL + SHIFT: Tech Empowered Movement for Naija,” as a strategic call to reimagine enterprise development in Nigeria.
“This isn’t just a keyboard shortcut,” he said. “It’s a mindset reset—powered by technology—to build a more inclusive, innovative, and resilient business landscape. From financing to innovation, DBN remains committed to enabling MSMEs to thrive.”
Okpanachi emphasized that the Summit aligns with DBN’s AMPLIFI Strategy, which integrates digital transformation, sustainability, and scalability into its core programs.
He highlighted initiatives such as the Digital Shift Workshops and the Eco-Innovation Challenge as key steps toward embedding innovation in Nigeria’s MSME sector.
Encouraging young innovators, he added: “The future belongs to those bold enough to imagine and build it. DBN is proud to support the ideas that will shape tomorrow.”
A major highlight was the unveiling of the DBN Data Asset—a digital platform designed to provide real-time, evidence-based insights into Nigeria’s MSME landscape.
The platform combines DBN’s proprietary data with external sources like the National Bureau of Statistics (NBS) to offer a comprehensive view of MSME performance by region and sector.
Jeremy Dan Okayi, DBN’s Head of Strategy, Policy & Innovation, described the platform as: “A reservoir of insight, potential, and direction—built on two years of collaboration and shared vision. This tool will support informed decision-making across the public and private sectors.”
News
FCCPC Shuts France, Belgium, and Italy Visa Centres in Abuja Over Alleged Consumer Rights Violations

In a bold enforcement action, the Federal Competition and Consumer Protection Commission (FCCPC), supported by the Nigeria Police Force and the Nigeria Security and Civil Defence Corps (NSCDC), has sealed off the visa application centres of France, Belgium, and Italy in Abuja over alleged consumer protection breaches and obstruction of regulatory investigations.
The affected centres—located at Mukhtar El-Yakub House in the Central Business District and operated by TLS Contact, a Teleperformance Company—were shut down following reports that they refused to accept formal correspondence from the FCCPC regarding a consumer complaint. The Commission cited further infractions, including obstruction of investigation and alleged assault of its officers during lawful duties.
Speaking to journalists at the scene, Mrs. Boladale Adeyinka, Director of Surveillance and Investigations at the FCCPC, explained: “This is an enforcement operation against TLS. On March 25, 2025, we served them a letter to address a consumer complaint, which they refused to accept. Instead, TLS officers assaulted our team, and in a subsequent visit on June 17, they also allegedly assaulted uniformed police officers.”
Citing Section 33 of the Federal Competition and Consumer Protection Act (FCCPA), Mrs. Adeyinka emphasized that failure to comply with Commission directives constitutes a criminal offense, punishable by imprisonment, fines of up to ₦20 million, or both.
TLS has been ordered to appear before the Commission on June 20, 2025, to provide testimony, submit evidence, and make formal depositions. The company may be held liable for any financial losses suffered by applicants due to the disruption of visa services.
Despite multiple requests for comment, management at TLS Contact declined to respond as of press time.
News
How and Why N210 Trillion is Missing in NNPCL – CFO

Adedapo Segun, chief financial officer (CFO), Nigerian National Petroleum Company Limited (NNPC), has explained why there is a missing sum of N210 trillion in the company’s audited financial statement spanning from 2017 to 2023.
According to Segun, the missing funds are cash calls requested by joint venture (JV) partners and settlement to the JVs.
He spokeat a session of the Senate Committee on Public Accounts chaired by Aliyu Wadada.
Segun was responding to an alarm raised by the committee over missing N210 trillion in NNPCL’s audited financial statement.
Recall that Wadada issued a one-week ultimatum to NNPCL to account for the missing N210 trillion.
Reacting, Segun said, “The N103 trillion and N107 trillion are made up of joint venture cash calls that have been requested by the JV operators and JV cash call payments made by NNPCL, which are yet to be reconciled because governance procedures were not done at that time.
“That is why you see the description reflecting those two items would be washed out because they are two sides of the same transaction, which is the cash calls by JV partners and the settlement by NNPCL.”
However, Habu Sadeik, a financial analyst, in a post on X on Thursday, said Segun’s response was unsatisfactory.
Saidik faulted NNPCL’s response about the fund discrepancies, noting that something is not right with the audited financial statement.
“Forget about the senators’ lack of knowledge.
“The CFO’s response is not satisfactory. Are you saying that cash calls worth hundreds of trillions are just appearing on your FS only in 2024 without 31 disclosure?
“If it’s a cash call, why hasn’t the disclosure said so?
“Which cash call is over 100 trillion?
“Something is definitely not right, and I hope they retrospectively correct that FS.
“Someone somewhere did a chef’s work,” he wrote on X.
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