Telecom
Lagos FI Chapter Graduates 21, Changes to Stanbic IBTC-Founder Institute Lagos

Founder Institute, Lagos Chapter, in its maiden edition of Velocity, graduated its first cohort of entrepreneurs, after a rigorous 14-week class.
The graduation ceremony which took place, on Saturday, November 16, 2019, at Victoria Island, Lagos, saw a huge the turn out stakeholders in the industry event.
The atmosphere at the Commerce House, where the graduation took place, was lit, as the graduates, (founders), start-up mentors, entrepreneurs, captains of industries, top bank executives and potential start-up founders all graced the occasion.
Delivering the welcome address of the day, Demola Sogunle, deputy managing director, Stanbic IBTC Bank, who was represented by Wole Adeniyi, executive director, Personal and Business Banking, Stanbic IBTC Bank, emphasised the role of technology, in enhancing business.
“Technology is about enabling business, making it easier and convenient, to make progress and just like what we are set to do daily, making progress with our customers is part of the alignment in several fonts”, Sogunle observed.

A cross-section of Mentors and FI Directors
The DMD expressed his delight, at being part of the Founder Institute project. “There are many other projects that can be done going forward; so many opportunities for growth and most important is, in adding value, but we take it a step at a time”, he emphasized.
“We are confident that, the start-ups have been empowered to deliver value. We are very proud to be part of the story and we believe that, you will do well”, added Demola, as he congratulated the graduates and the management of Founder Institute.
Delivering the keynote speech, John Obaro, founder, SystemSpecs and developer of Remita, the payment platform, titled his keynote address; “My 27 pence”. Obaro noted that, problems are opportunities, waiting to be unraveled, emphasising the need to fail forward, in pursuit of success. “According to Stanbic IBTC, over 80% of Nigerian start-ups fail, within their first five years”, he noted.
John Obaro, Founder, SystemSpecs, delivering the keynote address
Obaro expressed some valuable points in his keynote speech. Some of these include the following:
- The need to get hungry, to provide a working solution and make an impact
- The need to build a strong team
- The power of focus, (identifying a clear problem and having a solution)
“There are too many “technologies” and “solutions” out there, looking for a problem to solve.”
- The need for quality products and services
- The need for brainstorming and balanced thinking
- Building a good business policy, with values
“Be aware of trends and adapt your business models and practices, to suite the same. Relevance is the currency of the digital age. Consistently seek it – through innovation!”, stressed Obaro.
Obaro concluded by emphasising the need for the graduates, to collaborate as the partnership formed with others, will be used to harness strengths and extend the opportunity window.
There was, also, a panel session that had a discussion on start-ups and the Nigerian market.
Present among the panelists were, Onyema Akumah, Founder and CEO, Farmcrowdy, Peter Obadare, co-founder, Digital Encode, Tosin Faniro-Dada , Head, Lagos Innovate, LSETF and other guests.
Highlights from the panel discussion include:
- The importance of business networking
- Startu-ps collaboration with others
- Creating platforms that would foster online and offline presence
- The need for founders, to continue learning
21 Founders out of the initial 46 that started the class, graduated, in the first cohort of the Lagos Founder Institute Chapter.
They are Colord tees, Corrents, DiGita, Eazycheck, EscroWallet, Osteena Organics, LaborHack, Baller Zone, LaserPay, Lime start, Scrapays, Agenpo, Athlst, Cargo-L,Padimi, Paperloops, Rentit, Sabiteach,Tokeeto,Tres Melanin and Zowasel.
A cross-section of the founders, Mentors and FI Directors
They all presented their pitch, in the course of the event and got presented with certificates, at the end of the graduation ceremony.
It was announced by the Directors, that Founder Institute, Lagos, has been renamed, Stanbic IBTC-Founder Institute Lagos.
Telecom
NCC Issues 90 Days Deadline to Telcos to Resolve Subscribers’ Unclaimed Airtime

Nigerian Communications Commission (NCC) has issued a 90-day compliance window to telecommunications operators to resolve the long-standing issue of unutilised and unclaimed subscribers’ recharges.
This announcement was made at a high-level virtual stakeholders’ engagement forum held on Tuesday, targeted at refining and enforcing new guidelines that protect consumer rights in Nigeria’s evolving telecom landscape.
Dr. Aminu Maida, executive vice chairman, NCC, whose speech was delivered at the forum by Rimini Makama, executive commissioner, Stakeholder Management, emphasised that the Commission was taking proactive steps to address unused prepaid credit on inactive lines, an issue that impacts millions of subscribers nationwide.
“With the rapid growth of mobile subscriptions and the dominance of prepaid plans, it has become critical to ensure that consumer interests are not eroded through forfeiture of unused credit,” the NCC Boss said.
He stressed the commitment of the Commission to creating a regulatory framework that is fair, enforceable, and aligned with international best practices.
The current Quality of Service Business Rules provide that prepaid lines with no revenue-generating activity for six months be deactivated, and may be recycled after another six months.
The proposed guidance reaffirms the right of subscribers to reclaim their unused credit within 12 months, provided they can verify ownership.
In her remarks, Mrs. Chizua Whyte, head of Legal and Regulatory Services, NCC, presented the Draft Guidance on Unutilised and Unclaimed Recharges, which outlines clear procedures for managing inactive subscriber accounts.
She stated that operators will be required to carry out comprehensive audits of all churned numbers, ensure unused airtime is offered back to subscribers through service alternatives, and strictly avoid monetising forfeited recharges.
Whyte explained that these guidelines are not only aimed at protecting consumers, but also offering regulatory clarity to operators.
She added that the Commission is mandating full compliance within 90 days of the issuance of the final guidance, with non-compliance attracting penalties, including regulatory audits.
The forum attracted wide participation from across the industry, with discussions centred on striking a balance between protecting consumer rights and maintaining operational feasibility.
Participants agreed on the need for greater transparency, stronger consumer education, and consistent notification practices.
The NCC reiterated its commitment to fostering a fair, transparent, and consumer-first regulatory environment.
The 90-day deadline signals a new era of accountability in how telecom operators manage subscriber credits and reinforces the Commission’s role as a guardian of consumer trust in the digital age.
Telecom
Moniepoint DreamDevs Bootcamp Supports Nigeria’s Digital Economy Agenda

Moniepoint Inc, Africa’s leading digital financial services provider, has taken a significant step in shaping the future of African tech talent with its DreamDevs initiative.
Designed to nurture the brightest minds on the continent, this transformative program aims to equip recent graduates with practical tech skills and invaluable real-world experience, addressing the persistent challenges in tech talent sourcing across Africa.
Targeting graduates from technology, computer science, engineering, and related fields with foundational programming knowledge in HTML, CSS, and JavaScript, DreamDevs offers a rigorous nine-week boot camp that immerses participants via hands-on training from leading software engineers and experience building impactful products for millions of people.
The DreamDevs initiative comes at a pivotal moment for Nigeria’s digital economy, which has seen remarkable growth over the past two decades. The Information and Communications Technology (ICT) sector contributed 18% to Nigeria’s GDP in 2024, underscoring its importance as a backbone for economic diversification. However, the global tech workforce faces a significant challenge, with 4.5 million unfilled tech jobs worldwide—a gap that is expected to widen as demand for skilled workers outpaces supply. Initiatives like DreamDevs aim to address this shortage by nurturing local talent capable of competing on both domestic and global stages.
The program officially launched following a competitive hackathon that identified 20 exceptional young talents who earned their place in the boot camp. Over the course of nine weeks, these participants will undergo intensive training in topics such as Java Refresher, Google Cloud Platform, Kafka Fundamentals, Google Cloud ML/AI, and Advanced Java, ensuring they develop the technical proficiency required to thrive in today’s digital economy.
At the end of the boot camp, standout participants will earn internship opportunities, opening doors to further professional development, while all participants have the potential to secure full-time positions with Moniepoint.
Felix Ike, Co-Founder and Chief Technology Officer of Moniepoint Inc, emphasized the company’s commitment to Africa’s future, stating that investing in young talent is crucial for driving technological advancement across the continent.
He highlighted that DreamDevs goes beyond just training; it is a strategic effort to create a pathway for ambitious graduates to become key players in Africa’s evolving tech landscape.
“We have always envisioned a transformative approach to technology, using it to power the dreams of millions and engineering financial happiness across the land,” Ike said.
“By providing practical experience, upskilling opportunities, startup incubation, and product development support, DreamDevs equips participants to become invaluable assets to the tech industry while contributing to the government’s vision for a thriving digital economy in Nigeria.”
Moniepoint’s program complements existing government efforts such as the 3 Million Technical Talent (3MTT) initiative under President Bola Tinubu’s “Renewed Hope” agenda, which aims to create two million digital jobs by 2025 and position Nigeria as a net exporter of tech talent.
Together, these programs are building Nigeria’s technical talent backbone—a foundational pillar in the Ministry of Communications, Innovation & Digital Economy’s strategic blueprint.
With a track record of investing in tech talent across Africa, with previous initiatives such as Moniepoint HatchDev, a specialized nine-month training program in partnership with NITHub Unilag, and its hugely popular Women in Tech initiative, Moniepoint has consistently demonstrated its commitment and dedication to leveraging digital technology for growth across all sectors while prioritizing infrastructure development and positioning itself as a driving force in the continent’s technological evolution.
Telecom
MTN Foundation Opens Portal for 2025 Scholarships

MTN Foundation has opened applications for its 2025 scholarship programme, reaffirming its dedication to strengthening the development of Science, Technology, Engineering, and Mathematics (STEM), encouraging excellence in academic pursuit, deepening diversity and inclusion by empowering blind students in Nigeria.
The programme provides three categories of scholarships annually: the Science and Technology Scholarship (MTN STS), the MTN Scholarship for Blind Students (MTN SBS), and the Top 10 UTME Scholarship.
The STS is open to all 300-level Science and Technology students with a minimum Cumulative Grade Point Average (CGPA) of 3.5 (Second Class Upper or its equivalent); SBS caters to the educational needs of blind students in 200-level with a minimum CGPA of 2.5 or its equivalent.
The top 10 scoring candidates of the UTME, as announced by JAMB, automatically qualify for the MTN Foundation Top 10 UTME scholarship.
As part of its ongoing investment in education, the MTN Foundation has awarded 14,728 scholarships in the past 15 years, worth over NGN3 billion.
The scholars are provided platforms to acquire relevant skills and practical knowledge to thrive in today’s evolving job market.
Speaking on the impact of the scholarship program, Executive Director of the MTN Foundation, Odunayo Sanya, said: “Education is the backbone of national development, and at MTN Foundation, we are committed to ensuring that no bright mind is left behind due to financial constraints.
“This scholarship is not just about funding education; it is about investing in Nigeria’s future leaders, innovators, and problem-solvers.”
Since 2024, the MTN Foundation has increased the scholarship award amount from NGN200,000 to NGN300,000 annually for three years until graduation, provided the scholars maintain the minimum grade point requirement.
The scholarship program is richly embedded with Mentorship, Internship and digital certification opportunities.
The application process is straightforward and conducted online, making it accessible for students nationwide.
Eligible candidates are encouraged to visit mtn.ng/scholarships/ and apply before the application deadline on April 25, 2025.
For more information, visit mtn.ng/foundation.
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