Telecom
NCC Highlights Role of ICT in Fighting Financial Crimes
Nigerian Communications Commission (NCC) has said effective application of Information and Communication Technology (ICT) is critical in combating financial crimes by enabling real-time surveillance, regulatory compliance, and secure data processing, just as it sought a multidisciplinary and multi-stakeholder collaborations to address issue of illicit financial flows in the country.
Dr. Aminu Maida, Executive Vice Chairman (EVC) of the Commission, who was a speaker at the 11th Anniversary Lecture Series of RealNews Magazine in Lagos on Tuesday, where he was also inducted into the RealNews Hall of Fame in recognition of his outstanding contribution as Guest of Honour at the event, said robust ICT systems are critical for preventing and investigating financial crimes or mitigating the risks associated with virtual assets in the financial markets.
Maida, who was represented at the forum by the NCC’s Director of Public Affairs, Reuben Muoka, described financial crimes as “criminal activities that involve transactions, abuse, misuse, deception, or manipulation of financial systems for personal gain.” He said the crimes also include a wide range of offenses such as Insider abuse, money laundering, terrorism financing, embezzlement and all kinds of fraud.
He said while financial crimes do not only have a huge economic and social impact but can also be linked to violent crimes that lead to loss of lives, they also threaten the integrity, trustworthiness, stability, security, safety, and future of an entity such as a country, enterprise or an individual.
Maida told the audience comprising representatives of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Nigerian Financial Intelligence Unit (NFIU), among other stakeholders, that the scope of financial crimes has broadened and created further concerns as a result of increasing adoption of digital technologies, the emergence of new technologies, and the often-transnational nature of the crimes.
The Nigeria’s chief telecom regulator said though, as ICT systems get more complex, so do cybercriminal activities, just as criminal actors take advantage of the inherent and emerging flaws identified in the ICT systems exploiting these flaws and causing harm, the same technology has to be positioned to track movement of illicit movement of funds in and out of the country.
“Nigeria’s telecoms sector has grown significantly, resulting in massive amounts of data being generated on a daily basis, the advent of advanced data analytics and artificial intelligence (AI) provides a gateway to identify suspicious digital patterns indicative of crime.
“Through partnerships with financial institutions data can be filtered to identify these suspicious patterns and nip them in the bud. These technologies provide real-time transaction monitoring, allowing for a proactive approach to crime prevention” Maida said.
Maida further stated that to combat financial crimes, innovative solutions such as blockchain, instant payments, artificial intelligence, machine learning, data analytics, regulatory technology solutions, and automated procedures are being deployed, adding that the use of technological tools has made it significantly easier to deal with financial crime while building a long term strategy for combating it.
Meanwhile, Maida stated that, aside ensuring increased access to telecommunications services, the Commission has established the Computer Security Incident Response Team (CSIRT), a group of experts in the Commission to handles security incidents that can affect the operations of organisations and individuals; incorporated biometric authentication in the use of telecom services and financial transactions on telecom carriers with strict enforcement of compliance by the licensees; as well as enabling digital forensics, among others.
In addition to the need for public education and understanding of internet safety, which are important in limiting the risks linked with the spread of criminality via technology, Maida emphasized the need for increased collaboration and international cooperation to effectively tackle financial crime.
“Also, continued investment in ICT solutions, as well as a multidisciplinary and multi-stakeholder strategy, combining technology specialists, legal professionals, and legislators, as a critical approach in keeping up with emerging criminal methods,” he said.
MTN Nigeria Communications Plc has achieved a historic milestone, becoming the first listed company on the Nigerian Exchange Limited (NGX) to reach a market capitalization of ₦10 trillion, as its share price closed at ₦480 on Friday, August 1, 2025.
The telecommunications giant’s shares gained ₦8 or 1.69% during Friday’s trading session, pushing the company’s market value past the ₦10 trillion threshold.
This remarkable achievement comes just two days after MTN Nigeria released its stellar half-year 2025 financial results on Wednesday, which showed exceptional performance across all key metrics.
The timing is not surprising based on what was said in the company’s H1 results, which revealed a dramatic turnaround from losses to profitability.
The telecoms operator reported service revenue growth of 54.6% to ₦2.4 trillion, while EBITDA surged by 119.5% to ₦1.2 trillion with margins expanding significantly to 50.6%.
Most importantly, the company achieved a profit after tax of ₦414.9 billion, marking a stunning recovery from the loss of ₦519.1 billion recorded in the same period last year.
Speaking on the H1 2025 results that have driven investor confidence, Karl Toriola, CEO, MTN Nigeria, said: “We are excited by the progress made in the first half of 2025, reflecting the successful execution of the strategic priorities we previously communicated to the market.”
Toriola emphasized the company’s strong operational momentum, stating: “Building on the momentum from the first quarter, we delivered strong growth in service revenue for the period under review. This was driven by robust demand for our services, proactive customer value management and price adjustments, mainly in Q2.”
The CEO’s confidence in the company’s trajectory was evident in his commentary about future prospects.
“In light of the strong momentum in our business, we have upgraded our FY 2025 and medium-term guidance and we remain firmly on track to restore our balance sheet to a positive net asset position by the end of Q3,” Toriola declared.
This optimistic outlook, backed by upgraded financial guidance targeting service revenue growth of “at least low-50%” and EBITDA margin of “at least low-50%” for FY 2025, has clearly resonated with investors.
Toriola highlighted improving operating conditions that have supported the company’s performance: “The macroeconomic conditions in Nigeria showed notable improvements in the period under review, including a relatively stable naira, improved foreign exchange (forex) liquidity and easing inflationary pressures.”
He noted that “this backdrop helped to enable our improved business performance and set a more supportive context for increased long-term investments.”
The ₦10 trillion market cap milestone represents extraordinary value creation for shareholders.
Vitel Wireless, a mobile virtual network operator (MVNO), has announced the official launch of its nationwide network services in Nigeria.
In a statement, the company stated that starting yesterday August 1, it will release an initial batch of 50,000 SIM cards and eSIMs across all 36 states and Federal Capital Territory (FCT) to selected subscribers, bringing reliable, affordable, and high-quality connectivity to millions of Nigerians.
This milestone, it said, marks its commitment to transforming Nigeria’s telecommunications landscape by providing accessible and seamless mobile services to both urban and rural communities.
Commenting on the launch, Kenneth Nwabueze, executive chairman of Vitel Wireless Limited, said: “We are excited to bring Vitel Wireless’s innovative services to Nigeria, a vibrant and dynamic country with immense potential. Our goal is to deliver dependable connectivity that enables Nigerians to connect, communicate, and thrive in the digital age. This rollout is just the beginning — we look forward to expanding our services and making a positive impact across the nation.”
According to the company, with a focus on innovation, affordability, coverage, and customer satisfaction, it aims to bridge the digital divide and foster inclusive growth.
“More than half of the initial release will be made available through authorised retail outlets, Vitel Wireless Airport Kiosks, and mobile kiosks utilising Know Your Customer (KYC) verification via NIMC’s new SIM-NIN telecommunications registration platform.
“The remaining SIM cards will be allocated to subscribers for innovative value-added services, including Internet of Things (IoT) solutions, Safer Home AI camera systems (iSEEYOU), employment performance monitoring App (Oga-App), and location-based services solutions such as SecurMe and Push-My Location, among others. This initial deployment enables the company to rigorously test its network, optimise its MTN roaming partnership, and implement necessary adjustments prior to the full-scale launch in Q2 2025,” it added.
MTN Nigeria has rewarded the Nigerian Super Falcons with 150 million naira following their remarkable victory at the 2024 Women’s Africa Cup of Nations (WAFCON).
The announcement was made at a celebratory breakfast reception hosted by the technology company in Lagos, in the presence of Nigerian Football Federation (NFF) leadership and female executives across key sectors, alongside a host of MTN executives who came out to celebrate the champions and reaffirm the company’s commitment to football, inclusion and youth empowerment.
The Super Falcons’ win goes down as one of the most thrilling in tournament history. Facing Morocco on their home soil, Nigeria came back from 2-0 down to secure a dramatic 3-2 victory, clinching their 10th WAFCON title and reinforcing their status as Africa’s most decorated women’s team.
Delivering the opening remarks, MTN’s Chief Marketing Officer, Onyinye Ikenna-Emeka, highlighted the Super Falcons’ win as an inspiration for Nigerian women. “The Women’s African Cup of Nations (WAFCON) is a championship that has been held 13 times and Nigeria has won 10 times. This is no small feat. It is a testament to how determined Nigerian women can be when they set out to achieve something. What you have achieved not only makes Nigeria proud, but it makes us, even we women, proud. Here at MTN, we believe, and one of our values is ‘Can Do’, can do with integrity. Your final match exemplifies that.”
As the official telecommunications partner of the NFF, MTN presented the 150 million naira reward to celebrate the team’s resilience and achievement. MTN director, Ifueko Okauru explained that 115 million naira would go to the players and 35 million to the technical team.
“At MTN we believe in the power of connection, not just through technology, but through our soul, through our spirits, what we share and what unifies us,” said Dr. Karl Toriola, CEO, MTN Nigeria.
Toriola described the company’s investment in the NFF as fruitful. “As proud sponsors of the Nigerian Football Federation, this long-term significantly financially-heavy investment in supporting the NFF has borne so many fruits. We followed you through every match, every challenge, every trial and some of them losses. We followed you and we continue to support you and today we are so proud to say our efforts have not been in vain. We followed you for the big things, we followed you for the smaller things.
He added, “To the Super Falcons, you are more than athletes, you are inspirations. You are an inspiration for everyone in Nigeria, every young lady to go out there and make a difference. You are role models, you are ambassadors, and you are proof that when Nigerian women rise, the world will take notice.”
Captain of the Super Falcons, Rashidat Ajibade, thanked MTN and its board members for their warm reception and support. “We appreciate you a lot. We feel valued, we feel honoured, we feel respected, and this only inspires us to do better, and keep inspiring the next generation.”
“This win is for all of us,” she said, dedicating the 10th title not just to the current Super Falcons squad but to all the players who came before. While grateful for the milestone, she made it clear they were not content. “We want to take this to the next level. We want to be global contenders. We don’t want to be just local champions. It’s time to take it to the next level. We understand the huge responsibility on us, and we hope that we can all work together, the Federation, the federal government, and also private bodies to keep investing and keep supporting the Super Falcons Council so we can all achieve this objective.”
The breakfast reception featured a classical string quartet, stirring soul-Afrobeats choir rendition that had the Falcons on their feet, dancing joyfully in celebration of their hard-won victory. Singer Praiz also delivered a performance that drew cheers from the audience and added to the festive energy in the room.
As the nation continues to celebrate their victory, this moment stands as both a reward and a reminder of what Nigerian women can achieve when backed by belief, investment and opportunity. The celebration was especially timely as it fell on Pan African Women’s Day, a fitting moment to honour the strength, resilience and achievements of Nigerian women on and off the pitch.
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