Telecom
NCC Reaffirms Commitment to Stimulate Development & Growth of Fintech Sector in Nigeria

Nigerian Communications Commission. (NCC) says it’s committed to stimulating the development and growth of Fintech sector in Nigeria.
Dr. Aminu Maida, Executive Vice Chairman of NCC, stated this while delivering a keynote address at the 2023 NITRA Financial Technology (Fintech) Forum with the theme “Harnessing Nigeria’s Fintech Potentials: Challenges and Opportunities” held on Thursday, October 26, 2023 at CitiHeight Hotel, Ikeja, Lagos,
Dr. Maida who was represented at the event by Mr. Henry Ojiokpota, NCC’s Lagos Zonal Controller, said that the commission will continue to support the Fintech sector in hamessing its enormous potentials as well as overcoming the challenges identified.
“This can be achieved through adequate provision of secure infrastructure and USSD channels that enable delivery of Digital Financial Services delivery in efficient ways.
“The NCC is also keen on maintaining minimum standards Quality of Service (QOS), for an uninterrupted network that will boost the sector. In support of this objective, the Commission has executed the Memorandum of Understanding with CBN on driving payment systems and financial inclusion, which is in line with the Nigeria Payments System Vision 2025.
“Furthermore, the Commission is playing an important role in harnessing the potentials of Fintech through maximum support for Fintech policies, enforcing regulations, and strengthening collaborations with relevant authorities such as the CBN and other stakeholders.
“Beyond this, the NCC is also promoting incubation and sound practices of Fintech firms and highly secured platforms to further enhance the development of the Fintech ecosystem as well as the digital economy space in general.
“These measures would ultimately enable the attainment of the objectives of the Nigerian Startup Bill, particularly in the Financial Services sector, and maximize the benefits of Fintech while mitigating the risks involved, NCC EVC explained.
Maida also noted the significant roles Fintech sector has been playing in boosting financial inclusion initiative, job creation, among others.
In his words: “Fintech comes with a lot of business opportunities in terms of innovation, job creation and investment. Therefore, Fintech has the potential to deepen the existing payment and financial system infrastructure to reach unserved and underserved areas and further stimulate economic growth.
“Fintech applications such as robo-advisors, payment apps, peer-to-peer (P2P) lending apps, investment apps, and crypto apps, among others, create business opportunities f0f individuals. With the youth population accounting for an estimated 70per cent of Nigeria’s population, the digitally savvy, young, and middle-aged individuals adopting these Fintech applications for socioeconomic gains will add value to the economy. Recent industry statistics has shown that active subscriptions across mobile networks in Nigeria rose to 220.7 million in August 2023 (NCC).
“Similarly, the increasing rate of smartphone penetration, internet access, and focused regulatory drive have continued to create a favourable atmosphere for Fintech to thrive. Furthermore, greater accessibility to customer, convenience, and low-cost access to short-term loans will further deepen the acceptability of Fintech products and services. Records have shown that the Fintech sector has benefitted a lot from external investment, amounting to over US$I billion investment since 2018.”
Earlier in his welcome address, Mr. Chike Onwuegbuchi, the National Chairman of the Nigeria Information Technology Reporters’ Association (NITRA), noted that Financial Technology (Fintech) has become perhaps the most exciting sector in the ICT industry, and in Nigeria as a whole.
“The Fintech sector is seen as the engine of financial dealings, economic growth and transactional unification, and is touted to present and aid various other sectors from the grassroots to international business/trade.
“In spite of this significant relevance of this sub-sector, Nigeria saw a slowdown in Fintech funding in the past few years. According to Partech Africa’s tech Venture Capital Report, Nigeria recorded $798 million in 2022 from $1.3 billion recorded in 2021,” NITRA Chairman noted.
Telecom
MTN Commits $10Bn to Nigeria’s Digital Infrastructure

MTN has said since 2001, it has committed over $10 billion into deepening Nigeria’s digital infrastructure, enhancing widespread connectivity and financial inclusion.
Despite economic headwinds, the Group said it remained committed to Nigeria’s long-term potential and the broader African Continental Free Trade Area (AfCFTA) vision.
The telecom giant said as Africa stands at the point of a profound transformation, the imperative for greater intra-continental cooperation has never been clearer.
The path to shared prosperity depends not on the progress of individual nations but on the collective strength of our commitments.
Central to this vision is the relationship between South Africa and Nigeria, two of the continent’s largest economies, and the institutions that serve as bridges between them.
MTN Group said it hosted Minister Parks Tau (SA Minister of Trade Industry and Competition) and his delegation at its Johannesburg Headquarters.
“At a time when global uncertainties are reshaping trade and technology, Africa must respond not in isolation, but in solidarity. As MTN, we see it as our duty to serve as an economic diplomatic bridge between Nigeria and South Africa — driving growth, fostering inclusion, and unlocking opportunity for the Africa’s shared prosperity,” the carrier said.
“MTN’s journey exemplifies what is possible when two great nations collaborate. As Nigeria’s largest South African investor, MTN has long viewed its presence not simply as a commercial venture but as a platform for inclusive development. Since commencing operations in Nigeria in 2001, we have invested more than $10 billion in the country’s digital infrastructure.
“Today, MTN Nigeria serves over 80 million subscribers, employs thousands directly, and supports hundreds of thousands of livelihoods across its extended value chain.
“Yet, while the economic footprint is significant, our greatest source of pride lies in the social and developmental outcomes accompanying this investment, expanded access to connectivity, enhanced financial inclusion, and the empowerment of individuals and enterprises through digital technologies.
“Still, the operating environment remains complex. Macroeconomic challenges in Nigeria, including currency depreciation, inflation, and constraints in accessing foreign exchange, have placed pressure on business continuity and investor confidence. Despite these difficulties, MTN remains firmly committed to its business case and its long-term presence in Nigeria, underpinned by a belief in the country’s enduring potential and strategic importance to the continent,” it added in an e-note at the weekend.
However, it said for South Africa and Nigeria to truly unlock their bilateral potential, a number of long-standing issues require resolution. The upcoming South Africa–Nigeria Trade and Investment Summit, to be held in Abuja later this year, will present a unique opportunity to address these concerns. The Summit serves not merely as a diplomatic engagement, but as a catalyst for policy reform, reciprocal market access, and institutional dialogue. Importantly, it should reinforce the private sector’s role in shaping practical, actionable solutions that support cross-border trade and investment.
The AfCFTA offers a historic platform to actualise these ambitions. Yet its success will depend as much on infrastructure and digital connectivity as it will on tariff liberalisation or regulatory harmonisation.
“As a pan-African operator, MTN is investing heavily in the digital foundations of AfCFTA, facilitating seamless mobile communication, enabling digital payments, and building platforms for cross-border entrepreneurship.
“We also believe that integration must extend beyond economic frameworks to include cultural exchange and people-to-people engagement. One such initiative is our MTN Media Innovation Programme, which brings emerging Nigerian media professionals to South Africa for immersive learning. Through programmes like these, we aim to cultivate not only knowledge and skills, but also enduring bonds between our nations’ future leaders,” the telco explained.
Telecom
Airtel Reveals Mechanism of Spam Alert Service

As the revolutionary Airtel Spam AI Alert Service rolls out across Airtel Africa’s 14 operating countries, Airtel Nigeria CEO, Dinesh Balsingh, has elaborated on the unprecedented benefits and operating principles guiding the Spam Alert Service.
Designed to enhance user safety, this pioneering AI-driven product provides real-time defense against spam and fraudulent SMS messages, making it a gamechanger for mobile security across the continent.
The Airtel AI Spam Alert Service, which is engineered to automatically detect and label suspicious SMS messages as “Suspected SPAM” without requiring any user action or additional apps, leverages a robust AI algorithm that analyzes over 250 parameters.
These parameters includee sender behavior, message frequency, message geographical distribution, and unusual activity patterns. Impressively, the service completes this process under just two milliseconds, offering near-instantaneous alerts while maintaining the privacy of user data by not reading message content.
Commenting on the breakthrough service, Dinesh Balsingh, CEO of Airtel Nigeria, stated: “Nigeria is not just a critical market for us—it’s a leader in digital adoption within the continent. Our AI Spam Alert Service reflects our dedication to safeguarding our customers from the growing threat of SMS fraud.
“As the first of its kind in Africa, it addresses a fundamental issue of trust and security, which is paramount to our digital ecosystem. We’re proud to offer this service to Nigerians and extend it across our African footprint.”
Following its successful deployment in Nigeria, the Spam Alert Service has now launched in Tanzania and Kenya and is set to cover Airtel’s entire African operations. The service’s automatic activation for all Airtel customers, across both smartphones and feature phones, ensures maximum reach and accessibility.
Early feedback from subscribers has been overwhelmingly positive, with users praising the AI’s efficiency in flagging potentially harmful messages without interfering with their everyday communication.
By pioneering this AI-based spam detection technology, Airtel Africa demonstrates its commitment to leveraging cutting-edge innovation to resolve critical issues facing its subscribers. The AI Spam Alert Service not only protects users but also sets a new benchmark for mobile security standards in the region.
“Our goal is to build a safer digital environment for our users,” added Balsingh. “This innovation is part of our broader strategy to incorporate advanced technologies that address real challenges while enhancing the overall customer experience.”
Telecom
MTN Group Strengthens Nigeria-South Africa Economic Ties Amid Africa’s Transformation

As Africa stands at the point of a profound transformation, the imperative for greater intra-continental cooperation has never been clearer. The path to shared prosperity depends not on the progress of individual nations but on the collective strength of our commitments.
Central to this vision is the relationship between South Africa and Nigeria, two of the continent’s largest economies, and the institutions that serve as bridges between them.
It was an honour for MTN Group to host Minister Parks Tau (SA Minister of Trade Industry and Competition) and his delegation at our Headquarters in Johannesburg. At a time when global uncertainties are reshaping trade and technology, Africa must respond not in isolation, but in solidarity.
As MTN, we see it as our duty to serve as an economic diplomatic bridge between Nigeria and South Africa — driving growth, fostering inclusion, and unlocking opportunity for the Africa’s shared prosperity.
MTN’s journey exemplifies what is possible when two great nations collaborate. As Nigeria’s largest South African investor, MTN has long viewed its presence not simply as a commercial venture but as a platform for inclusive development.
Since commencing operations in Nigeria in 2001, we have invested more than US$10 billion in the country’s digital infrastructure.
Today, MTN Nigeria serves over 80 million subscribers, employs thousands directly, and supports hundreds of thousands of livelihoods across its extended value chain.
Yet, while the economic footprint is significant, our greatest source of pride lies in the social and developmental outcomes accompanying this investment, expanded access to connectivity, enhanced financial inclusion, and the empowerment of individuals and enterprises through digital technologies.
Still, the operating environment remains complex. Macroeconomic challenges in Nigeria, including currency depreciation, inflation, and constraints in accessing foreign exchange, have placed pressure on business continuity and investor confidence.
Despite these difficulties, MTN remains firmly committed to its business case and its long-term presence in Nigeria, underpinned by a belief in the country’s enduring potential and strategic importance to the continent.
However, for South Africa and Nigeria to truly unlock their bilateral potential, a number of long-standing issues require resolution. The upcoming South Africa–Nigeria Trade and Investment Summit, to be held in Abuja later this year, presents a unique opportunity to address these concerns.
The Summit serves not merely as a diplomatic engagement, but as a catalyst for policy reform, reciprocal market access, and institutional dialogue. Importantly, it should reinforce the private sector’s role in shaping practical, actionable solutions that support cross-border trade and investment.
The African Continental Free Trade Area (AfCFTA) offers a historic platform to actualise these ambitions. Yet its success will depend as much on infrastructure and digital connectivity as it will on tariff liberalisation or regulatory harmonisation.
As a pan-African operator, MTN is investing heavily in the digital foundations of AfCFTA, facilitating seamless mobile communication, enabling digital payments, and building platforms for cross-border entrepreneurship.
We also believe that integration must extend beyond economic frameworks to include cultural exchange and people-to-people engagement. One such initiative is our MTN Media Innovation Programme, which brings emerging Nigerian media professionals to South Africa for immersive learning.
Through programmes like these, we aim to cultivate not only knowledge and skills, but also enduring bonds between our nations’ future leaders.
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