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Telecommunications Remains the Greatest Enabler to Financial Inclusion – Danbatta

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Prof. Umar Danbatta, executive vice chairman (EVC) Nigerian Communications Commission (NCC) has stated that telecommunications remains the best enabler in expanding the frontiers of financial inclusion in Nigeria.

Danbatta affirmed this on Wednesday at the NCC head office while receiving a team from the Bill and Melinda Gates Foundation (BMGF) and the Foundation’s Consultants, Glenbrooks Partners, who paid a visit to the Commission to explore opportunities for collaboration and partnership to enhance financial inclusion in Nigeria.

At the meeting, which held at the request of the Foundation, Danbatta said the realisation of the centrality of telecommunication to all aspects of the economy explains NCC’s upbeat in identifying access gaps and in instituting processes for the expansion of telecom infrastructure across the country.

The EVC said the infrastructure companies (Infracos) have been licensed by the Commission to cascade fibre from landing ports to the hinterland of Nigeria, especially the 774 local government areas in Nigeria.

He expressed hope that the Federal Government will take a concrete position soon to enable the Infracos to commence operations because “fibre is the real solution to the volume of transactions in the financial services sector”.

Danbatta declared that 35 million Nigerians have no access to telecommunications services and by implication they lack access to digital financial services, a condition that undermines financial inclusion.

According to the EVC, this challenge is caused by inadequacy of both wireless and fibre connectivity infrastructure.

“We need to do more investment in both fixed and wireless infrastructure to enable us to reach our target of at least 80 percent level of financial inclusion in about four years”, he emphasised.

The EVC said access to telecom services by distant, isolated, unserved and underserved communities will enable the more citizens to embrace digital financial culture.

Danbatta revealed that the Central Bank of Nigeria (CBN) has issued Mobile Money Payment Services license to some mobile network operators to enable them to undertake mobile financial transaction services.

Danbatta therefore advocated renewed greater cooperation and collaboration between the banking and telecommunications sectors to harmonise the cost of transactions for financial services in an equitable manner.

Abiodun Jagun of Bill and Melinda Gates Foundation who led the delegation comprising Elizabeth Mcquerry of Glenbrook Partners as well as Ifeanyi Monye and Charles Ifedi, who are consultants to Glenbrook, informed the EVC that the Foundation requested for the meeting in other to deepen the extant partnership between the Foundation and the Fedral Government of Nigeria to increase citizens’ access to financial resources.

Jagun said the discussion with the Commission is so important because it regulates the telecom sector and it is already addressing some infrastructure challenges which is central to connectivity and the embrace of digital culture and inclusive access to financial resources by citizens.

She (Jagun) said that understanding the strides made by the Commission as well as the challenges it faces will help the Foundation to know the nature of collaboration and support to offer without distorting or disrupting the market.

Jagun said the beauty of the visit and the discussions are meant to ensure that the philanthropic opportunities offered by BMGF are supportive and complementary to the digital ecosystem.

Mcquerry also commended the commitment of the Federal Government to expanding access to digital resources.

She also expressed hope that this commitment will trickle down to find implementation among all agencies of government.

Mcquerry equally appealed to all stakeholders to work in synergy to ensure increased access and affordability of digital and financial services by “people at the bottom of the bottom of the pyramid”.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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Galaxy Backbone Deploys Fibre Optic Network in Lagos, Ibadan and Ilorin

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Galaxy Backbone (GBB), the information technology and shared services provider of the Federal Government of Nigeria, has announced the successful expansion of its state-of-the-art fibre optic network to Lagos, Ibadan, the capital of Oyo State in southwestern Nigeria, and Ilorin, capital of Kwara State in the north-central region.

Galaxy Backbone Deploys Fibre Optic Network in Lagos, Ibadan and Ilorin

What is described as a remarkable milestone is part of Phase II of the country’s National Information and Communication Technology Infrastructure Backbone (NICTIB) project.

With a robust cross-country optical fibre backbone now extending over 5,000 kilometres and across 27 state capitals, GBB says it has solidified its role as the digital backbone of Nigeria. This development seamlessly integrates the nation’s six geopolitical zones.

The newly completed Abuja-to-Lagos route, traversing key cities such as Minna, Bida, Mokwa, ilorin, Ogbomoso, Oyo, Ibadan and Lagos, is a strategic enhancement designed to strengthen network reliability. By establishing a closed network ring linking Lagos – the nation’s economic hub – to Abuja, the capital city, GBB says it ensures service redundancy and minimises potential downtime.

Professor Ibrahim A Adeyanju, managing director/CEO of Galaxy Backbone, says: “The expansion of our fibre optic network to Lagos, Ibadan and Ilorin is a significant step forward in our mission to bridge the digital divide and position Nigeria as a leader in the global digital economy. This advanced infrastructure empowers us to deliver innovative, customer-centric solutions that serve the needs of both the public and private sectors.”

He adds: “This expansion not only supports the government’s digital economy agenda but also sets the stage for meaningful collaboration with private sector organisations seeking to leverage our infrastructure.”

 


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NBS Says 25m Phones Stolen in Nigeria in 12 Months

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National Bureau of Statistics (NBS) has reported that over 25 million phone thefts between March 2023 and April 2024, according to its Crime Experience and Security Perception Survey 2024.

NBS Says 25m Phones Stolen in Nigeria in 12 Months

The Crime Experience and Security Perception Survey 2024, indicated that an estimated 17,965,741 people had their phones stolen during the reference period

Phone theft, which is a common individual crime in the country, shows that seven out of every 10 stolen phones happened at home or public places, with a mere 11.7% of people who reported to the police expressing satisfaction with their response.

Less than 10% of the victims of phone theft reported the case to the police, while over 90% failed to report to the police for various reasons.

“At the individual level, 21.4 per cent of Nigerians reported being victims of crime, and the most common crime was phone theft (13.8%),” the report read in part.

 

 

 


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Airtel Once Again Wins Partnership of the Year Award at SERAS 2024

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Airtel Nigeria has once again been recognized for its commitment to sustainable development, carting away the Partnership of the Year award at the 18th edition of the Sustainability, Enterprise, and Responsibility Awards (SERAS) held at the Oriental Hotel, Victoria Island, Lagos, on Saturday, 14th December, 2024.

The award celebrates Airtel’s continued success with its Re-imagine Education Initiative, a ground-breaking collaboration with the United Nations Children’s Fund (UNICEF) aimed at transforming education in Nigeria through technology.

Airtel’s consistent focus on creating social value through strategic partnerships reflects its position as a key enabler of progress in the Nigerian education sector.

Commenting on the award, Femi Adeniran, Director, Corporate Communications and CSR, highlighted the significance of the winning the Partnership of the Year award for the second time with the Airtel collaboration with UNICEF to provide digital access to quality educational resources for more than 1,200 schools in Nigeria.

“Winning this award for the second consecutive year is a reflection of our enduring belief in the transformative power of technology in education. We are deeply committed to making a meaningful difference in the lives of Nigerians, and this recognition fuels our resolve to do even more,” he said.

The SERAS Awards, widely regarded as Africa’s most prestigious platform for celebrating sustainability and corporate social responsibility, brought together leaders from various industries to honour organizations driving impactful change.

Airtel Nigeria remains steadfast in its mission to foster inclusive growth, empower communities, and champion a sustainable future for its stakeholders and the environment.


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