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Usoro Calls for Collaborative Effort to Achieve 95% Target for Financial Inclusion by 2024

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Usoro Usoro, general manager, Mobile Financial Services, MTN Nigeria, has said that in order for the country to meet the 95% target for financial inclusion by 2024 set by the Central Bank of Nigeria, it needs to accelerate the current growth rate in the industry.

Usoro disclosed this during an interactive virtual session by The Economist Intelligence Unit based on a report titled “State of Play: Fintech in Nigeria” sponsored by MTN Nigeria and Mastercard.

The webinar hosted by Camelia Oros, managing director, CT Productions featured presentations by Irene Mia, Global Editorial Director, Thought Leadership and Melanie Noronha, Senior Editor, Thought Leadership, EMEA both of The Economist Intelligence Unit.

The webinar also featured presentations by Usoro Usoro, General Manager, Mobile Financial Services, MTN Nigeria and Ebehijie Momoh, Senior Vice President, General Manager, West Africa, Mastercard.

The session reviewed topics tackled in the Nigerian Fintech report while assessing both industry drivers and impediments to further growth.

Addressing participants at the session, Usoro Usoro remarked, “Fintech and financial inclusion is an important area for MTN Nigeria.

“We always see ourselves as a company that drives economic growth and development everywhere we operate.

“Working with The Economist team and similar stakeholders to produce reports such as this stimulate debate and conversation around the challenges in the sector and how we can work together as an industry to drive our desired objectives”.

He further explained that “The CBN’s National Financial Inclusion Strategy which was revised in 2019 has set a financial inclusion target to 95% by 2024.

“It is barely five years from now and we need a collaborative approach by stakeholders in the industry to ensure that all players can leverage their various assets to meet that target.

“Relatively, Nigeria has more sophisticated products than many other countries on the continent. The challenge is in accessibility and how these products will not only improve convenience for the already banked but further drive inclusion while addressing how we can bring these last batch of 40 million customers that are traditionally excluded into the fold

“Overall, I think we are in the right direction, and studies such as this serve the purpose of stimulating conversation that will provide solutions to the challenges we face as an industry”.

Plans to launch the report to a wide selection of stakeholders in the Nigerian Fintech industry were underway but had to be postponed due to the restrictions posed by the COVID-19 pandemic. The Economist Intelligence Unit confirmed that details of the physical event will be shared at a later date.

 

 


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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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Again, Labour Fumes, Threatens Shutdown of Telcos over Non-Implementation of 15 Percent Tariff Reduction

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Nigeria Labour Congress (NLC) is threatening to shut down operations of telecommunications companies over their refusal to comment on the 15 percent reduction in telecom tariffs.

Again, Labour Fumes, Threatens Shutdown of Telcos over Non-Implementation of 15 Percent Tariff Reduction

Recall that that organised labour, through the NLC, forced the federal government and NCC to reduce the telecommunications tariff hike from 50% to 35% after threatening to shut down telecom operations and the NCC in response to what it saw as exploitative economic policies amidst excruciating suffering, hardship, and deepening poverty.

The government had previously formed a 10-member committee, consisting of five government and NLC representatives, to deliberate on the thorny topic of tariff hikes within two weeks and report back before making a final decision on the new telecom tariff structure.

Consequently, on Friday, February 21, 2025, the committee, at a meeting conducted in the office of the National Security Adviser (NSA) that lasted nearly three hours, decided on a 15 per cent tariff cut.

According to reports, in accordance with the conditions of the agreement, an official communiqué announcing the tariff reduction was scheduled to be released on Saturday, February 22.

According to Chronicle,iIt was said that the meeting began at 4:00 p.m. and concluded around 7:00 p.m., during which NLC representatives insisted that the tariff hike be withdrawn.

According to sources, after significant pressure from NLC representatives in the 10-man committee, the government and NCC gave up and agreed on the 15% decrease, which the government or NCC should have announced the next day.

However, at the time of this report, no such announcement has been made.

Leaders of the labour union are not taking the government’s failure to announce or implement the 15% tariff decrease lightly, suspecting that they have been duped.

The Labour leaders have therefore resolved to directly confront the NCC and telecommunications operators next week.

Though it has been reported that the date for the start of the industrial action against the NCC and telecom providers has been set and mobilisation is underway, the information is being closely guarded.

One of the leaders of the NLC stated that “We have received directives to commence mobilisation since last week. In fact, the date for the commencement of industrial action against the NCC and telecommunication operators’ offices across the country has been fixed. We have been warned not to disclose the date because the plan is to take all concerned by surprise. We are not giving any notice because we thought we had resolved this matter over a month ago. It is as if we have been scammed. Therefore, we have decided to confront the matter head-on.”

On February 12, the NLC expressed outrage over telecommunications companies’ tariff hikes, despite an earlier agreement with the Federal Government and the NCC.

According to the Labour union, “If the telecommunications companies fail to revert to the old tariff by the end of February 2025, a total shutdown of their operations nationwide will commence on March 1, 2025.”

To demonstrate its seriousness, the NLC declared that, as a first step in resisting the arbitrary tariff hike, it directed that workers and other willing citizens boycott the services of MTN, AIRTEL, and GLO daily between 11:00 a.m. and 2:00 p.m. until the end.

On Tuesday, February 11, NLC leaders issued a communiqué at the conclusion of their Central Working Committee (CWC) meeting in Lokoja, Kogi State, urging workers and citizens to suspend data purchases from telecommunications companies, which have also become one of their most effective tools for exploiting Nigerian citizens.

The communiqué, signed by Joe Ajaero and Emma Ugboaja, Congress’ President and General Secretary, respectively, instructed NLC State Councils and industrial union affiliates to quickly sensitise and mobilise their members and the general public in their jurisdictions.

 


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Ebehijie Momoh, CEO of AfriGOPay to Deliver Keynote at PAFON 2.0

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Ebehijie Momoh (Mrs), the Managing Director and Chief Executive Officer of AfriGOPay Financial Services Limited (AFSL), a subsidiary of NIBSS, has been announced as the keynote speaker for the second edition of Payments Forum Nigeria (PAFON 2.0).

PAFON 2.0 Ads

PAFON 2.0 will be held on Thursday, April 10, 2025 at the Function Room 1, Oriental Hotel, Lekki Road, Lagos by 9am (WAT).

Register here to attend: https://shorturl.at/IPOjA

The keynote speaker alongside the special guest, Uche Uzoebo, the MD/CEO of SANEF, and others lined-up for the Forum, will focus on the theme: “Bridging the Customer Experience Gap for Financial Inclusion Using AI”, which underscores the urgent need to safeguard digital transactions against emerging threats while ensuring seamless financial inclusion and innovation.

Mrs Momoh is leading AfriGO vision to deliver a seamless, secure and efficient payment card scheme which facilitates faster transactions, reduces card operating costs to enhance the overall user experience for stakeholders, partners, and cardholders.

With over 30 years of progressive leadership experience in the Nigerian financial and payment industry, she has a distinguished career marked by strategic vision and a commitment to delivering exceptional results.

She has consistently demonstrated her ability to drive large-scale operations, enhance profit and loss growth, and lead high-performance teams.

Also, Mrs. Uche Uzoebo is a passionate and renowned expert in financial inclusion, digital transformation, inclusive finance and women empowerment in Nigeria.

Under her leadership, SANEF Limited is committed to achieving excellence, greater growth, development and expansion to stakeholders in the ecosystem.

Speaking ahead of PAFON 2.0, Mr. Chike Onwuegbuchi, the co-convener, stated: “As Nigeria accelerates its transition to a digital economy, ensuring trust and security in payments has never been more critical. PAFON 2.0 will serve as a pivotal platform to address these challenges and unlock opportunities for a more resilient and inclusive financial system.”

PAFON 2.0 is open to payment service providers, fintech firms, banks, regulatory bodies, cybersecurity experts, and all stakeholders invested in the future of digital transactions in Nigeria.

Attendance

Register to Attend: https://shorturl.at/IPOjA


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Everything You Need to Know About MTN’s MIP 2025 Fellowship Webinar

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As the MTN Media Innovation Program (MIP) 2025 prepares for another cohort, aspiring applicants have a unique chance to gain firsthand insights into this transformative fellowship. On Friday, March 28, 2025, at 11:00 AM WAT, MTN Nigeria, in partnership with the School of Media and Communication (SMC) at Pan-Atlantic University (PAU), will host a webinar featuring past fellows and PAU faculty. The session will explore the program’s curriculum, application process, and the career-defining opportunities it offers for media professionals.

The webinar, designed for journalists, broadcasters, content creators, and digital storytellers, will offer a deep dive into the fellowship’s structure, the curriculum, hands on practicals and also what to expect during the international study visit to South Africa, and how the program equips media professionals with the skills needed to thrive in an evolving industry.

For many media professionals, the MIP fellowship has been a turning point. Past fellows will share personal experiences, discussing how the training at PAU, exposure to global media practices, and networking opportunities with industry leaders helped shape their careers.

The speakers include Sakina Ahmad, a graduate of the Kano State Polytechnic and a reporter at FRCN, Fombina Fm Yola. Frank Eleanya, a senior reporter at TechCabal, and a seasoned technology and innovation journalist with extensive coverage of the Nigerian and West African tech ecosystems and Ebunoluwa Dosumu, award-winning TV presenter and producer, a content creator/brand strategist at WorldPR Media. Nifemi Oguntoye, the deputy head of presentation at TVC Communications will also speak during the session.

Dr. Ikechukwu Obiaya, Dean of the School of Media and Communication at PAU, emphasised the program’s commitment to nurturing media professionals: “Given the challenges of today’s fast-changing media space, there is an ever-greater urgency to cultivate a new generation of media professionals who will drive innovation and excellence to meet today’s media needs. SMC will leverage its extensive experience in training media professionals to equip this next cohort. And we will do this with our usual emphasis on creativity and ethics.”

With thousands of applications expected, the webinar will also walk participants through the step-by-step application process, offering tips on how to craft a compelling application, what the selection committee looks for, and how to stand out as a candidate.

Faculty members from PAU’s School of Media and Communication, who play a key role in the program’s curriculum, will also shed light on the learning modules, workshops, and hands-on training that MIP fellows receive.

The MIP webinar is free and open to all media professionals, offering a rare chance to engage with alumni, faculty, and MTN executives in an interactive session.

As the application window for MIP 2025 remains open, this webinar serves as the ultimate guide for anyone looking to take their media career to the next level. With limited spots available for the fellowship, attendees are encouraged to come prepared with their questions and seize this opportunity to gain exclusive insights into one of Nigeria’s most prestigious media fellowships.

Interested journalists, bloggers, and content creators can apply for the MIP 2025 at https://bit.ly/MTN_MIP2025 and can register here for the MIP Webinar.


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