Telecom
How Did MTN MoMo Hackathon Winners Create Financial Magic for Financial Inclusion
MoMo Hackathon 2023 was a stage set for innovation, collaboration, and financial brilliance. Developers, innovators, and entrepreneurs across Nigeria converged to showcase their skills, creativity, and determination to create innovative applications using MTN’s Mobile Money (MoMo) APIs. After intense competition, the spotlight shone on the winners, and they answered the $10,000 question: How did they create financial magic?
- Winner: Rova Pay
Oluwapelumi Yusuf emerged as the winner of the MTN MoMo Hackathon 2023, clinching the prestigious USD 5,000 cash prize. His invention, Rova Pay, was a testament to his innovative prowess and ability to leverage MoMo’s APIs uniquely.
Rova Pay introduces an innovative method allowing users to conduct transactions effortlessly, anytime and anywhere, using automated USSD. This technology eliminates the necessity for internet access and manual code dialling, offering enhanced convenience to customers.
Yusuf expressed that Rova Pay extends financial services to marginalized communities facing internet accessibility challenges. He aimed to ensure that individuals without internet connectivity could benefit from digital financial services.
Yusuf demonstrated how, with MoMo’s advanced APIs (V2.1 – Notification, KYC, Auth. and V2.2 – Channel as a service), one could create a mobile application that redefined financial transactions and user experiences. His solution was not just a piece of technology; it was a vision of a more accessible and efficient financial future for Nigerians and Africans.
- The Second Runner UP: MoMo Cash
While Oluwapelumi Yusuf took home the grand prize, the second runners-up, Marvis Igbokwe and Favour Ajie Divine, also made their mark, receiving USD 3,000 for inventing MoMo Cash.
Inspired by the need to create a system that awards both consumers and producers, MoMo cash is a solution that rewards consumers who perform MoMo tasks with MoMo coins that they can leverage to pay bills or run other transactions.
Their projects showed that financial magic is not exclusive to the winner’s circle. These developers demonstrated an exceptional knack for harnessing MoMo’s APIs to address real-world fin-tech challenges.
- The Third Runner UP: Clinique Plus Pay
Isaac Odinaka Franklin’s solution, Clinique Plus Pay, won third place with a cash prize of USD 2,000.
Clinique Plus Pay is a platform designed specifically for healthcare institutions. The solution enables patients to save toward healthcare, offering them the option to accumulate funds in their MoMo wallet that they can utilize when in need of medical care.
Isaac’s motivation for Clinique Plus Pay originated during his service year at a military hospital. He observed the difficulties healthcare workers encountered in accessing soldiers’ medical records. This discovery sparked his idea to develop a digital platform for storing medical histories. For Isaac, integrating the MoMo payment system was key to improving the solution, enabling patients to pay for healthcare services.
Isaac’s solution integrated MoMo APIs and illustrated the ingenuity and resourcefulness that financial technology developers can offer. Clinique Plus Pay was a standout solution at the hackathon as it addressed an important, but often overlooked sector -healthcare.
What’s Next for MoMo PSB?
The MTN MoMo Hackathon 2023 was more than just a competition; it was a celebration of innovation and a glimpse into the future of financial technology. The event underscored MoMo’s commitment to fostering innovation and supporting developers in their quest to create financial solutions that make a positive impact.
MoMo PSB is fostering financial inclusion and innovation in Nigeria. By providing a platform for developers to utilize MoMo’s capabilities, the brand aims to create opportunities for growth and drive financial services to the next level.
Telecom
Telecoms Services Resume in Kogi State as Telcos, Govt Resolve Dispute

Telecommunications services disrupted in Kogi State have resumed following a resolution of the dispute between MTN Nigeria and the state government, the Association of Licensed Telecoms Operators of Nigeria (ALTON) has said.
Gbenga Adebayo, chairman of ALTON, told TVC News that the issues that led to the shutdown of telecom masts in the state, primarily affecting MTN, had been addressed, paving the way for service restoration.
TVC News earlier reported that businessmen and women were counting their losses as they suffered the impact of a shut down of telecommunication service in Kogi State
Over the past two weeks, telecoms connectivity had been erratic, with competing brands experiencing glitches, particularly in the Lokoja metropolis.
The State government suspended the operations of some telecom services citing unpaid taxes and fibre-related dues.
The shutdown stemmed from a compliance dispute between MTN and the Kogi State Utility Infrastructure Management and Compliance Agency, which accused the telecom giant of violating operational rules and under-declaring the extent of its optic fibre network coverage in the state.
Telecom
Banks Settle ₦160Bn USSD Debt to Telcos, Ending Five-Year Dispute

The protracted Unstructured Supplementary Service Data (USSD) debt misunderstanding between the Deposit Money Banks (DMBs) and telecommunications operators appears to have been resolved.
This was confirmed by the Chief Executive Officer of MTN Nigeria, Karl Toriola, Thursday, March 1, when he appeared on Arise TV to speak on the firm’s first-quarter 2025 result, where the telecommunications company reported over N1 trillion in revenue earnings.
Recall that the USSD debt had been a major issue between the DMBs and telcos and had lasted for about five years.
In the third quarter of 2024, the telcos had threatened to withdraw their service over the lingering debt, which was around N200 billion at the time. This led to the swift intervention of the Central Bank of Nigeria and the Nigerian Communications Commission (NCC), and an agreement was reached on payment.
As of November 2024, the NCC put the debt at N160 billion. However, earlier this year, when it appeared the banks were not forthcoming with payments, the NCC directed the telcos to withdraw the USSD services from debt-owning DMBs, where about 18 banks were listed.
This directive prompted the banks to look inward and start to comply with an earlier circular signed by the CBN and NCC, which articulated the payment patterns for the debt.
Speaking, on Arise TV this morning, May 1, Toriola confirmed that the matter has been fully resolved and that banks have made payments.
“I can confirm that the matter has been fully resolved. We have received payments in full. Special thanks to the CBN, NCC, the banks, and other stakeholders that intervened in the matter,” the MTN CEO stated.
Telecom
Sterling Bank Introduces AlwaysOn, Offering Nigerians Up to ₦1 Million Monthly

Sterling Bank, Leading commercial bank and Africa’s most agile company has announced the introduction of AlwaysOn by Sterling, a bold new feature on its OneBank platform that will give eligible customers up to ₦1 million extra every month -even when their account balances are running low.
Launched on Workers’ Day 2025, the initiative is part of an ongoing movement to remove structural barriers to financial freedom and empower everyday Nigerians to move boldly, even in uncertain times.
AlwaysOn is a specialised, invitation-only feature for customers who maintain an active OneBank account for a while. It provides an advance to settle bills or make payments without delays, or any of the friction associated with traditional credit systems.
“This is not just about funds,” said Abubakar Suleiman, Chief Executive Officer of Sterling Bank. “It’s about freedom and dignity. It’s about backing our customers with the trust and tools to act boldly when life demands it.”
Suleiman emphasised that the new feature is not a product, it’s a logical shift in how the bank supports its customers.
“We’re building a financial ecosystem designed for momentum -for people with grit, urgency, and dreams too big to wait. If you’ve banked with us, you’ve earned our confidence. Now you’ll have our backing to match,” added Suleiman.
The introduction of AlwaysOn marks the next chapter in Sterling’s growing movement to create a fairer and more responsive financial system. It follows the Zero Transfer Fees initiative in April, which returned an estimated ₦13 billion to Nigerians by eliminating transfer charges across the OneBank platform. It also builds on Sterling’s Free Bus Ride initiative, which helped commuters get home from work for free during a time of intense economic pressure.
Together, these efforts reflect the bank’s bold, people-first approach to customer impact, now made possible by its adoption of SeaBaas, Nigeria’s first indigenous core banking platform.
“We’re not the kind of bank that stands on the sidelines while Nigerians hustle,” said Obinna Ukachukwu, Growth Executive for Retail and Consumer Banking. “We removed the fees that slowed them down. Now we’re giving Nigerians the financial freedom to seize opportunity when it shows up. We’re on the pitch with them.”
Sterling’s actions have sparked widespread public support and national recognition as they have continued to push the boundaries of what corporate citizenship can mean to everyday Nigerians.
Notable icons from various fields have canvassed their support and praised the bank’s stance in redefining financial services, inspiring other institutions to follow suit.
Nigerians are encouraged to apply to join the waitlist for the scheme when it goes live in later this month and ultimately, eligibility for up to N1M extra in relief advances.
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