E-Financial
NGX Moves to Reduce Trading Costs Through Technology

Temi Popoola, the Chief Executive Officer, Nigerian Exchange Limited (NGX), has revealed that the exchange is exploring ways to leverage technology to focus on reducing brokerage costs.
Popoola disclosed this while fielding questions from stakeholders at the MTN Capital Markets Day which held in Abuja recently.
He noted that NGX recognizes the high cost of trading in and out of Nigeria and added that it is looking at incorporating digital technology to enhance overall trading experience and make it more cost-effective for investors.
Popoola, while specifically stating that the exchange is focused on reducing brokerage costs, said this will encourage more participation in the stock market and attract a broader range of investors and added that the NGX wants to emulate other digital market platforms that offer zero-cost trading on their platforms.
He explained, “Looking at many other markets, there are many digital platforms that allow them to trade for free at zero cost and today there are people (brokerage) who charge around 130 basis points to do business and so we think that with digital and tech transformation, trading costs on NGX can be addressed.
Of course there are costs that we charge as a business but a lot of our stakeholders are looking to see whether lowering trading costs can be addressed whether in a short or long term and relax the costs to build the market.
Another thing that brings these costs are people who bring deals and issuances to the market and a lot of feedback has been that it is very expensive and so we think we will address these things”.
Weighing in on the spate of delistings which is currently ongoing in the market, the NGX boss, quoting PitchBook, said that Initial Public Offerings (IPOs) have witnessed a slowdown of more than 60 per cent in the last two years globally, adding that there has been a noticeable scarcity of smaller cap stocks on public exchanges due to various factors such as voluntary and involuntary delistings, mergers and acquisitions, and liquidations.
Emphasizing NGX’s strategy around delistings, Popoola said, “What most exchanges aim to do is replace those delistings faster than they occur, and that has formed the crux of our strategy at NGX.
“We have had notable listings within the last two years including BUA Foods, Geregu – which is our first power sector listing, MeCure Industries, VFD Group, and interestingly our first listed Investment Trust, Nigeria Infrastructure Debt Fund.
“NGX has experienced a remarkable surge in market capitalization, with new listings contributing over 10 per cent in the past two years and we think that there is a need for government advocacy and policymaking in enhancing listings in our markets”.
Whilst acknowledging the global availability of capital for sustainable initiatives, he further revealed that the exchange places a strong emphasis on sustainability and said it is planning to launch a sustainability framework and work with listed corporates to address current carbon footprints to promote responsible corporate behavior.
E-Financial
FG Verifies 2m Households for Cash Transfer

Federal government has said that it has begun a revalidation exercise of the National Social Register in a drive to strengthen the ongoing conditional cash transfer programme designed to ameliorate the impact of economic reforms.

Abisoye Coker-Odusote, DG/ CEO, NIMC
Up-to-date, a total of 2.3 million households have been confirmed and cleared for payment under the renewed scheme.
Abisoye Coker-Odusote, director general, National Identity Management Commission (NIMC), made this known at a recent press briefing held at the agency’s headquarters in Abuja.
The revalidation exercise comes amid concerns raised by the World Bank over the slow implementation of the cash transfer programme, which was launched in 2023, following the removal of petrol subsidy and unification of the foreign exchange market.
In its latest Nigeria Development Update report titled “Building Momentum for Inclusive Growth”, the global financial institution observed that only 37 per cent of the intended 15 million households, approximately 5.6 million had so far received payments two years after the programme was launched.
The World Bank had approved a $800m loan for the initiative, out of which $530m had been disbursed as of April 30, 2025.
The World Bank said, “Only 5.6 million households—around 37 per cent—have received at least one tranche of direct transfers. Further expansion of the programme remains dependent on biometrically verifying at least one adult member of the household with a foundational digital identity. Also, efforts to urgently provide support to the poorest and most economically at-risk households should be redoubled and expanded,” the bank noted.
Coker-Odusote, who is a member of the inter-agency task force managing the identity verification process for the programme, noted that the revalidation was being carried out under the National Social Safety Nets project to ensure that only eligible Nigerians benefit from the government’s palliative initiative.
“The Federal Government is currently conducting a revalidation exercise on the national social register under the National Social Safety Net, so that they are able to carry out the payment,” she said.
“As of Tuesday, we have been able to revalidate 2.3 million persons and will soon be able to start making the necessary payments. Our job is to ensure the number of people validated, and we are doing that in conjunction with other agencies to make sure that the money goes to the right people.”
She stressed the importance of accurate identity verification in delivering targeted interventions, noting that the exercise is rigorous to avoid misallocation of funds.
“We don’t want to pay people who no longer exist in this world. So, the right thing must be done, and I want to emphasise that.
“This is the reason for identity, ensuring there is a verifiable source of truth and identity credentials that you can use to validate the identity of someone, and that person can also use it to authenticate who he or she says, they are in real time,” she added.
E-Financial
MTN’s Digital Lending Arm Disburses $592m Loans in Q1

MTN’s BankTech platform disbursed $592 million in loans during the first quarter of 2025, setting a new record for the telecom operator’s digital lending business since its launch in August 2023.

MTN
The figures, released in MTN Group’s financial reports, highlight the accelerating adoption of mobile-based credit solutions across Africa.
The strong performance reflects growing demand for accessible financial services in markets where traditional banking penetration remains low.
BankTech operates as MTN’s banking-as-a-service platform, providing application programming interfaces that enable third-party fintech firms and businesses to integrate lending, savings and insurance products into their ecosystems.
Ghana, Uganda and Cameroon emerged as key growth markets, driving much of the platform’s expansion.
The Q1 results continue a consistent upward trajectory, building on disbursements of $371.7 million in the first quarter of 2024, followed by $359.9 million, $461.5 million and $546.8 million in subsequent quarters last year.
MTN’s move into digital lending follows earlier innovations by regional telecom operators including Safaricom’s M-Shwari in Kenya and Airtel Money Loans across East Africa.
These mobile-based services have collectively created a $247 million consumer lending marketplace, addressing portions of Africa’s estimated $782 billion credit gap.
The increasing loan volumes suggest shifting consumer attitudes toward telecom-driven financial solutions, which many now view as viable alternatives to conventional banking services.
This trend underscores the transformative role mobile networks are playing in financial inclusion across the continent.
As digital lending platforms gain traction, regulators face the dual challenge of fostering innovation while implementing safeguards for consumers.
The growth of services like BankTech indicates telecom companies will likely remain central to Africa’s financial services evolution, particularly for underserved populations and small businesses needing access to credit.
The platform’s expansion comes amid broader efforts to bridge Africa’s credit gap through technology-driven solutions. With mobile money adoption continuing to rise across the continent, digital lending services appear poised for further growth as they demonstrate their ability to reach customers traditionally excluded from formal financial systems.
E-Financial
Access Holdings Sets Benchmark in Fraud Prevention With ₦193.5Bn Tech Investment

As global financial fraud surges to over $485 billion in annual losses, Access Holdings PLC is setting a new standard in Africa’s banking industry through aggressive and strategic investment in technology aimed at combating the growing threat. With Nigeria’s financial sector experiencing a spike in digital fraud, particularly through mobile and online channels, Access Holdings has emerged as a front-runner in fraud prevention through innovation.
In 2024, Access Holdings, the parent company of Access Bank, recorded a landmark ₦193.5 billion ($120.5 million) in technology investments, a 147% increase over the previous year and the highest IT spend in Nigeria’s banking industry. This bold move has paid off significantly. The Group reported a 73% drop in fraud-related losses, falling from ₦6.15 billion in 2023 to just ₦1.64 billion in 2024.
“Our customers’ trust is our most valuable asset,” said Bolaji Agbede, Acting Group Chief Executive Officer of Access Holdings Plc. “In a world of rising digital risks, we have chosen to lead with innovation and resilience. Our sustained investment in cybersecurity, AI-driven fraud detection, and biometric authentication is delivering real results, and reinforcing confidence in our digital banking platforms.”
Globally, banks like JPMorgan Chase are increasing technology budgets to combat fraud, with a record $17 billion in 2024. Nigeria is not left behind. Among local peers, Access Holdings has demonstrated the strongest correlation between strategic tech spending and measurable fraud reduction.
Access Holdings’ investments include AI-driven transaction monitoring, biometric verification systems, enhanced core banking upgrades, and real-time fraud analytics, all designed to detect and respond to threats with speed and precision.
While digital innovation is expanding access to banking, it has also exposed customers and institutions to evolving threats. According to Nigeria Inter-Bank Settlement System (NIBSS) data, fraud incidents in the country jumped 112% from 2019 to 2023, underscoring the urgent need for systemic countermeasures.
Access Holdings’ proactive stance not only affirms its leadership in Nigeria’s digital banking landscape but also offers a compelling model for financial institutions across Africa looking to secure trust in an increasingly digital world.
- Telecom2 days ago
₦800 Billion Infrastructure Plan Set to Boost MTN’s Network Quality Nationwide
- E-Business2 days ago
NITDA, CISCO Empower Youth with Digital Skills
- News2 days ago
Creative Economy Ministry Secures $300M Investments Commitment
- Telecom2 days ago
African Women Hit Hardest as Mobile Internet Gender Gap Persists
- E-Financial2 days ago
Fidelity Bank reclaims trillion-naira market cap as stock rises to ₦21
- General News2 days ago
NITDA DG says its Community IT Centres Should be a Catalyst of Change
- Telecom2 days ago
Remita’s Bold Leap: Nigeria’s Fintech Giant Expands Across Africa
- E-Financial2 days ago
Kuda Co-founder Urges Young Developers to Build Tech with Purpose @NACOSS 2025