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How KongaPay Saved my life Amid Naira scarcity – Trader

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A petty trader, Mrs. Bolade Inuwa, has narrated how she was spared huge embarrassments and inconveniencies in the wake of the recent policy pronouncement on the redesign of select denominations of the national currency – the Naira, specifically referencing how KongaPay, a mobile money wallet operated by Nigeria’s leading e-commerce giant, the Konga Group, came to her rescue.

Nigerians from all walks of life have had to contend with severe difficulties in the wake of the announcement by the Central Bank of Nigeria (CBN) which initially pegged January 31, 2023 as the deadline for the return of old series of 200, 500 and 1000 Naira notes.

Amid concerns raised in various quarters, the CBN had stuck to its guns, insisting there are no plans to shift the deadline, prompting some businesses to stop receiving the old series of affected denominations even ahead of the deadline for their return.

In a video from a media briefing held on January 24, 2023 after the apex bank’s Monetary Policy Committee (MPC) meeting in Abuja, CBN Governor, Godwin Emefiele, was quoted as saying: “I must say here that unfortunately, I don’t have good news for those who feel that we should shift the deadline. My apologies.

The reason is because just as the president has said on more than two occasions, and even to people privately, that for us, 90 days — in fact, we feel it’s 100 days — is enough for anybody who has the old currency to deposit the money in the banks.

“And we took every measure to ensure that all the banks were open or remain still open to receive all old currencies; 100 days, we believe is more than adequate…’’

However, the CBN had later revised its earlier stance, announcing a 10-day extension of the deadline for the use of old naira notes across Nigeria.

Emefiele, who disclosed he had received the approval of President Muhammadu Buhari for the extension, revealed that the new deadline is now 10 February 2023 instead of the former 31 January deadline, while adding that those who are yet to change their naira notes from the old to new ones, now have an opportunity to do so.

Furthermore, the CBN Governor had urged Nigerians to utilise the opportunity because the deadline will not be extended again. In the wake of this development, events had quickly escalated.

Nigerians had intensified the process of returning their old currencies to the banks, but the new/redesigned denominations were not so forthcoming or readily available, resulting in a scarcity that saw many resort to desperate measures.

Point of Sales (POS) terminal operators led the charge, hiking their service charges astronomically for the new denominations and even the old notes, blaming the excess charges on the difficulties they face in getting cash.

A few banks also had to shut down some of their branches as a result of insufficient cash to treat the deluge of visitors who throng the halls daily, some as early as the wee hours of the morning, in search of cash.

Some branches were also subjected to attacks by increasingly desperate customers. Owing to the associated pressure from a growing number of Nigerians who now sought refuge in online transfers, several bank apps consistently recorded failures, leaving many stranded and frustrated.

Mrs. Inuwa was one of the millions of Nigerians affected.

‘‘When I learnt of the deadline for the return of the old notes, I had immediately notified my family members and made plans to have all the affected denominations with me lodged in the bank even before the initial January 31 deadline.

“It proved to be a costly move as I was now virtually cashless and unable to access either the old currencies or the new notes. For five consecutive days, I had to leave the house very early to go and queue up at a bank in my vicinity, yet I was unable to withdraw any money.

“The queues were very long and before you know it, a representative of the bank would come out to announce that they have exhausted the cash sum for the day.

‘‘Patronizing the POS operators around me also proved to be another very costly venture. Some of them were charging as high as N1000 for N5000 worth of the old notes and even higher for the new notes. Transfers initiated to and from various commercial banking apps were also failing and at best, erratic.

“My kids could not go to school and my business was suffering. It was not just a frustrating experience but one of the worst times I have experienced.’’

Succour, however, came the way of Mrs. Inuwa when a friend of hers introduced her to KongaPay.

‘‘I had stumbled across KongaPay at a party late last year when one of my colleagues used it to process a transfer to the hosts. Back then, everyone had commented on how swiftly the transfer went through and the seamless experience.

“So, when my friend cited how KongaPay has helped her navigate the difficulties with cash scarcity and failing bank transfers, I saw light at the end of the tunnel.

‘‘It was very signing up for an account at www.kongapay.com and upgrading my account after complying with the KYC document requirements.

“Thereafter, I was able to not only say goodbye to the challenges of failed transfers, but I was amazed at all the other things I could do with my KongaPay account, including purchasing airtime, paying for DSTV bills, recharging my prepaid meter line, all without extra charges. It was indeed an eye-opener.

‘‘Most importantly, I have been able to pay my suppliers and resume my business after signing up as a merchant, while my children have also been able to return to school.

“Surprisingly, I have processed well over 90 transfers since I started using KongaPay in early February and I am yet to experience one failed transfer.

“I can also access and generate my statement of account with ease. It has been a gem of a discovery,’’ she concluded.

Launched in 2015, KongaPay debuted as a pilot product in partnership with Nigerian commercial banks in response to concerns expressed by customers about the confidentiality of their details while trying to make payment for products on the Konga website.

Since inception, the platform has grown immensely and under the drive of the new management of Konga, is leading the new-found appetite for digital payments among e-commerce patrons and other subscribers, processing tons of transactions on a daily basis.

KongaPay was recently identified as the leading provider of digital payment services for e-commerce transactions in Nigeria. The rating came from Statista, a globally renowned market and consumer data firm.


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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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Airtel Africa Cuts Diesel Dependence by 9.1m Litres

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Airtel Africa, a telecommunications and mobile money services provider across 14 African countries, saved 9.1 million litres of diesel during its just ended 2025/2026 financial year, as part of efforts to drive responsible growth by minimising the environmental impact of its operations.

This was achieved by reducing reliance on diesel and increasing use of lower-carbon energy sources, including the conversion of 390 infrastructure sites to on-grid power during the year, thus improving efficiency and reducing emissions.

Airtel Africa CEO, Sunil Taldar highlighted this achievement during a media roundtable held in Lusaka, Zambia, where he presented the Group’s Sustainability Scorecard and progress towards building a more sustainable, inclusive and connected Africa.

Other initiatives to reduce Airtel Africa’s environmental impact during the year included promoting the circular economy, recycling 94% of total waste generated. These form part of Airtel Africa’s broader sustainability strategy, which seeks to create long-term value by balancing business growth with environmental stewardship, digital inclusion and socio-economic development.

Mr. Taldar emphasized that responsible growth remains central to Airtel Africa’s business strategy and is reflected in the company’s ability to extend services and opportunities to millions of people across the continent while advancing sustainability goals. Airtel Africa’s network now reaches 81.9% of the population across its markets, enabling greater access to connectivity, information, education and economic opportunities for individuals and communities.

The company recorded progress in its efforts to advance financial inclusion. Airtel Money now serves 54.1 million customers through a network of 2.4 million agents, making it one of Africa’s largest digital financial services ecosystems. Notably, 44.1% of Airtel Money customers are female, demonstrating the platform’s growing role in empowering women through access to secure, affordable and convenient financial services.

Beyond connectivity and financial inclusion, Airtel Africa, through its philanthropic arm, Airtel Africa Foundation continued to drive meaningful change across communities in the continent, investing US$6.2 million in priority programmes in four strategic areas namely Financial Inclusion, Education, Environmental Sustainability and Digital Inclusion.

Through its partnership with UNICEF, 3,296 schools have been connected to the free internet access, helping to bridge the digital divide and expand access to quality education reaching over 2 million learners and 38,868 teachers, while 64 zero-rated digital learning platforms enabled more than 11 million learners to access free digital educational content.

Also, during the year, more than 30,000 young people received digital skills training, while over 250 full undergraduate STEM scholarships were awarded through the Airtel Africa Tech Fellowship programme, helping to prepare the next generation of African innovators and technology leaders.

 


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Microsoft Axes 4,800 Jobs as Xbox Faces Major Crisis

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Microsoft has announced plans to cut about 4,800 jobs globally, representing approximately 2.1 per cent of its workforce, as part of a broader restructuring aimed at improving efficiency and competitiveness.

Microsoft Axes 4,800 Jobs as Xbox Faces Major Crisis

The layoffs include about 1,600 employees in the company’s Xbox gaming division.

The company said additional job cuts are expected later this year as it continues efforts to reposition its gaming business.

According to an internal memo from Xbox Chief Executive Officer, Asha Sharma, the restructuring is intended to “reset” the business amid increasing competition in the gaming industry.

“Our business today is not healthy,” Sharma said in the memo.

“We are operating at margins that are three to 10 times lower than comparable platform and publishing businesses.”

She attributed the challenges facing the division to rising production costs and intense competition in the gaming hardware market.

According to Sharma, the gaming industry is currently experiencing a severe hardware crisis as the cost of components used in gaming consoles continues to rise.

Xbox competes with gaming platforms such as Sony’s PlayStation and Nintendo’s Switch.

The latest layoffs form part of Microsoft’s broader strategy to streamline operations and strengthen the long-term sustainability of its gaming business.


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A New Blueprint – How Strategic Collaboration is Rewriting the Narrative on Youth Drug Abuse

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By Odunayo Sanya, Executive Director, MTN Foundation

Leadership, in its truest essence, is not about the titles we hold or the executive seats we occupy; it is about the responsibility we assume for the future of our communities. According to John Maxwell, a leader is one who knows the way, shows the way and goes the way. As we commemorate World Drug Day (26 June), we are collectively confronted with a sobering reality that demands that we intentionally create the conditions for Nigerian youths to thrive.

A New Blueprint - How Strategic Collaboration is Rewriting the Narrative on Youth Drug Abuse

Odunayo Sanya

This year’s global theme reminds us that the fight against substance abuse demands a collective response because its consequences extend far beyond the individual, affecting public health, economic productivity, community wellbeing, and national development.

To understand the weight of what is at stake, we must anchor our empathy in empirical truth. The United Nations Office on Drugs and Crime (UNODC) Drug Use in Nigeria Survey (2018), still one of Nigeria’s most comprehensive national assessments of substance abuse, revealed a deeply distressing reality. Nearly 14.3 million Nigerians aged 15 to 64 had used psychoactive substances. While the survey remains an important benchmark, the passage of time since its publication underscores the urgent need for more current data to guide prevention and intervention efforts. Nonetheless, the survey revealed that one in every four drug users in Nigeria was a woman, while the highest concentration of users was found among young people. This is not just a health crisis; it is an economic crisis and a systemic threat to our nation’s future leadership.

When we look at these numbers, we must refuse to see them merely as data points on a spreadsheet. Every statistic represents a vibrant mind diminished, a family fractured and a potential corporate leader or innovator sidelined. In my journey across the corporate and development sectors, I have learned that systemic challenges cannot be solved by sporadic, emotional reactions. They require structured, intelligent, sustainable, and data-informed ecosystems of change. True change requires us to transition from passive observers to active architects of sustainable interventions.

It was this profound sense of responsibility and strategic foresight that birthed the MTN Anti-Substance Abuse Programme (ASAP) in 2019. We recognised early on that the traditional approach of criminalising substance abuse without addressing the root causes – curiosity, peer pressure, lack of information and socio-economic despair – was a flawed model. ASAP was conceptualised as a multi-sectoral behaviour-change initiative designed to contribute to the reduction of first-time substance abusers in Nigeria.

This year’s World Drug Day theme “The World Drug Problem: Persisting Issues, New Challenges, Innovative Responses” is both a reminder of the complexity of the menace confronting our nation and an urgent call to action. It is clear that only innovative responses can curb the ever-evolving tactics of illicit drug networks. Beyond traditional substances, the world is witnessing a rapid increase in the production, availability and use of synthetic drugs. The commoditisation of prescription medicines has contributed to substance abuse. The inordinate use of technology as an enabler of cybernarcotics has changed the dynamics of the game.

Let me bring this closer home with some numbers. From January 2025 to May 2026, the NDLEA seized 5,305,484.88 kilograms of illicit drugs worth N1.5 trillion through 29,262 arrests. Recently, on May 16, the NDLEA busted a meth manufacturing ring in Ogun State. The scourge is no longer a distant tale: it resides with us. So, we must rise together as stakeholders in this war against substance abuse.

Over the years, the impact recorded through the ASAP initiative is a testament to the power of public-private sector partnerships. Through strategic partnerships with the NDLEA, the UNODC, the Ministry of Education, the Ministry of Health, and various non-governmental organisations, the MTN Foundation has institutionalised the anti-substance abuse advocacy. We have taken the message directly to the frontlines – our schools, motor parks, markets, and digital spaces. By building a coalition of voices, we are demystifying the stigma surrounding addiction, turning what was once whispered in shame into open and constructive community dialogues.

Our journey this year has been marked by a powerful surge of collective action. From stakeholder conferences in Enugu, Kaduna, Kwara and Abuja, to the resonant advocacy walks in tertiary institutions across Gombe, Delta, Abuja and Lagos, the response has been nothing short of extraordinary. The scale of this support – uniting associations, students, and parents alike – is a testament to the urgency and shared commitment driving this movement.

Our interventions have yielded measurable outcomes. To date, the ASAP initiative has directly impacted over 50,433 students and 1,556 teachers across public secondary schools in 32 states and the FCT, through structured anti-substance abuse capacity building initiatives, digital advocacy, peer-to-peer training, and community town halls. By empowering young people to become ambassadors themselves, we have leveraged the power of peer influence positively. We have seen firsthand that when you give a young person the right tools, accurate information, and a sense of purpose, they will choose a path of productivity over self-destruction.

True leadership, however, refuses to rest on yesterday’s laurels; it constantly asks where the next frontier of impact lies and what it requires. It is this restless pursuit of evidence-based and sustainable solutions that culminated in a historic milestone just two months ago, when the MTN Foundation, the United Nations Office on Drugs and Crime (UNODC), and the Office of the Vice President formalised a partnership to undertake Nigeria’s first nationally representative substance abuse survey among secondary school students. At a time when the most widely referenced national substance abuse data is almost a decade old and does not adequately capture the realities of in-school adolescents, this initiative seeks to provide the evidence needed to shape more targeted interventions and policy responses. The collaboration, which drew high praise from Vice President Kashim Shettima (GCON), is a powerful validation of our commitment to Nigeria’s youth and our belief that lasting solutions are built through multi-sectoral partnerships.

As a certified change practitioner, I know that for any behavioural shift to be sustainable, the intervention must be systemic, continuous, and dynamic. This year, our World Drug Day activities have been intentionally scaled up to meet the evolving landscape of substance abuse, particularly the rise of cheaper, highly lethal synthetic mixtures. Our focus this year focuses heavily on the digital ecosystem – leveraging technology to deploy accessible mental health resources, psychosocial helplines, and interactive awareness modules – because that is where our youth live, connect, and learn.

In tandem with our digital drive, this year’s ASAP calendar features high-level policy roundtables, quiz competitions, and grassroot activations across educational institutions. We are deliberately engaging policymakers to ensure that advocacy is backed by robust institutional frameworks. It is not enough to tell our children to say no to drugs; we must build a society that offers them a resounding “yes” to viable economic opportunities, mental health support, and inclusive community spaces.

The universe, as I often like to say, rewards extraordinary effort. The crisis before us is vast, but our collective capacity to innovate and heal is even greater. We cannot afford to look away or assume that this is someone else’s problem. The teenager struggling with addiction in a remote community is tied to the collective economic stability of our communities. Their failure is a leak in our national boat; their recovery is our shared victory.

As we mark World Drug Day, my call to action is to the government, corporate Nigeria, civil society organisations, and every well-meaning citizen: let us move from intent to action by investing heavily in preventive advocacy and psychosocial support structures. Let us choose to know the way, show the way, and walk the way together toward a drug-free, prosperous Nigeria.
Remember, it is everyone’s fight!


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