Telecom
Telcos Reject Demand by Banks for SIM Swap List
Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN), has asked telecommunication companies, to submit lists of SIM Swap customers to Nigeria Interbank Settlement System (NIBSS) for watchlist against e-fraud.
But the telecom companies have rejected the demand.
Yinka Tiamiyu, chairman, ACAEBIN, said stakeholders have been working with the Nigeria Interbank Settlement System (NIBSS) Plc on how to improve the SIM Swap and make the banking system safer for e-payment customers.
The Central Bank of Nigeria (CBN) Financial Stability Report showed that reported cases of fraud and forgeries by banks increased to 25,029 from 20, 774 while the total amount involved stood at N18.94 billion.
Tiamiyu said a joint industry committee of the Nigerian Electronic Fraud Forum (NeFF) and the Nigerian Communication Commission have advised NIBSS Plc and the telcos to develop tools that allow Telcos submit records of SIMs swapped on their network to NIBSS to enable the banks access such records online, real-time.
He said all the telcos have not been cooperative in this regard except for MTN.
“ACAEBIN has escalated this matter to the Central Bank of Nigeria (CBN) to intervene. We have also sought the intervention of the National Security Adviser (NSA), pointing out the security implication of this action of the Telcos to the security of the nation. The association will not be deterred as we will continue pushing until we get to our desired destination,” he said.
Tiamiyu said the banking industry is creating a lot of digital products to keep the business running and if you look at the banks confirmed cases of fraud that resulted in the loss of about N2.1 billion, more than 90 per cent of those frauds were perpetrated through technologically driven channels.
He said the knowledge of technology will enable internal auditors to identify gaps in Nigeria’s core banking applications, in the products and what is needed to be done to bridge the gap.
He said banks and telcos collaboration is needed in the fight against e-fraud given the rise in the use of mobile phones for banking transactions.
He said telcos to step up their cooperation and collaboration with banks especially in the area of appropriate Know Your Customer (KYC) documentation, noting that the Association has collaborated with all the stakeholders in the industry in achieving all the transformations going on in the industry, especially in the payment systems.
“In fact, because of digitization, we must ensure that the Nigerian Communications Commission (NCC) and the Telcos are on the same page with us in realising the payment systems of our dreams. The Law Enforcement Agencies have also come to realize the role and support the banks are making in the fight against fraud as such, there is the need for improved cooperation and collaboration,” Tiamiyu said.
Telecom
Celebrating African Creativity: Made by Africa, Loved by the World’ Returns for Its Fifth Year
The “Made by Africa, Loved by the World” campaign is back for its fifth year, celebrating African creativity and global influence. This year’s theme, “Where Culture Meets Connection,” highlights how social media fosters conversations around cultural moments worldwide.
The campaign features three cinematic films premiering on the Meta Africa page, showcasing the groundbreaking work and personal stories of six dynamic African creatives.
These artists, from Nigeria, Kenya, Ghana, and South Africa, represent diverse disciplines, including rap, animation, dance, photography, fashion, and videography.
Here are some of the featured talents:
- Ladipoe (Nigeria) – A BET-nominated rapper known for blending global hip-hop with African rhythms.
- Fatboy Animations (Kenya) – An animation studio founded by Michael Muthiga, recognized by Forbes for its original African storytelling.
- Lisa Quama (Ghana) – A dancer who gained fame after appearing in Beyoncé’s “Already” music video.
- Gilbert Asante (Ghana) – A photographer and creative director featured in GQ and Glam Africa.
- David Tlale (South Africa) – A fashion designer whose bold designs have been showcased at major fashion events, including the Met Gala.
- Ofentse Mwase (South Africa) – A filmmaker with over 24 international awards for his unique visual storytelling.
Kezia Anim-Addo, Communications Director for Africa, Middle East & Turkey, emphasized that the campaign not only celebrates individual success stories but also showcases how culture and social media drive meaningful connections and inspiration.
Association of Telecommunications Companies of Nigeria (ATCON), has raised the alarm over a diesel supply crisis caused by an ongoing strike by the National Union of Petroleum and Natural Gas Workers (NUPENG).
Mr Tony Emoekpere, president, ATCON in a statement said that the fuel supply disruption is critically affecting telecom base stations, pushing them to the brink of a shutdown and threatening millions of mobile and internet users in the region.
“This strike, which stems from the persistent harassment of tanker and petroleum product drivers by police officers in Lagos State, has effectively halted all truck loading operations and fuel movements,” Emoekpere stated.
He explained that diesel supply to telecom infrastructure has been severely impacted, leaving critical sites with dangerously low fuel levels.
According to him, if urgent measures are not taken, the situation could escalate into a full-blown network blackout, disrupting essential services, including mobile and internet access, business operations, emergency response systems, and daily communications.
ATCON has called on the governors of Lagos and Ogun states to intervene immediately by facilitating the release of diesel from depots to telecom operators to prevent further deterioration of the situation.
“This is not just a telecom issue—it is a national emergency that could cripple economic activities and compromise public safety,” Emoekpere stressed.
The association also appealed to security agencies and petroleum unions to resolve the crisis swiftly to safeguard Nigeria’s connectivity and economic stability.
ATCON emphasised that a prolonged disruption in fuel supply to telecom infrastructure could have far-reaching consequences for both businesses and individuals who rely on stable communication networks for daily operations.
In 2023, Nigerians spent a total of about ₦5.3 trillion on telecommunications services, which includes calls, data, SMS, and other telecom services, according to the Leadership.
Specifically for voice calls, Nigerians made approximately 408.5 billion minutes of local calls, generating around ₦3.28 trillion from outgoing calls and ₦3.23 trillion from incoming calls, totaling about ₦6.51 trillion in call-related revenue according to projections based on 2023 call volumes and tariff data.
However, the ₦5.3 trillion figure represents the overall telecom sector revenue, with voice calls being a major component but also including data and other services.
For individual spending, MTN subscribers spent an average of ₦2,508 monthly on voice calls in 2023, showing a 14.4% increase from 2022, while Airtel customers spent about ₦1,694 monthly on voice calls.
Total telecom spending (calls, data, SMS, etc.): ₦5.3 trillion in 2023
Estimated revenue from voice calls alone: around ₦6.5 trillion based on call minutes and tariffs
Average monthly spending on calls per subscriber: ₦1,694 to ₦2,508 depending on the network
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