Connect with us

Telecom

Robust FinTech Critical for Deepening Financial Inclusion in Nigeria – Maida

Published

on

Kindly share this post

Dr. Aminu Maida, Executive Vice Chairman and Chief Executive officer (EVC/CEO) of the Nigeria Communications Commission (NCC), has described the Financial Technology (FinTech) industry as a critical driver of financial inclusion of Nigerian citizens living in the underserved and unserved communities across the country.

Dr. Maida made this known in his keynote address at the 2023 edition of the annual Nigeria Information Technology Reporters Association (NITRA) FinTech Forum which focused on, “Harnessing Nigeria’s Fintech Potential: Challenges and Opportunities” and took place in Lagos recently.

The EVC, who was represented at the event by the Controller of NCC Lagos Zonal Office, Mr Henry Ojiokpota, stated that the theme of the forum was suitable at this time for a discourse about the financial industry given the significant rise in digital financial services across the nation.

The EVC said Fintech is revolutionizing Nigeria’s financial ecosystem as it represents a positive disruption to the conventional financial system. Maida stated that financial technology’s emergence to leverage technology to enhance financial services such as mobile banking, borrowing, investment, and cryptocurrency, comes as an enhancer and enabler of business and other opportunities in the sphere of innovation, job creation and investment that further stimulates economic growth.

The EVC stated that fintech applications such as robo-advisors, payment apps, peer-to-peer (P2P) lending apps, investment apps, and crypto apps, among others, create business opportunities for individuals. He also stated that the adoption of these Fintech applications for socioeconomic gains by the youth, who account for 70 per cent of Nigeria’s population, will add value to the economy.

Maida recalled recent industry statistics citing active subscriptions across mobile networks in Nigeria, which hit 220.7 million in August 2023, to demonstrate that the Nigerian Fintech ecosystem can offer an array of financial services to telecom subscribers.

He said the Commission will continue to expand and enhance telecommunications infrastructure to enable robust Fintech services, and address consumer concerns, and regulatory challenges in the sector because the optimal utilization of digital technologies will enhance the provision of financial services to rural communities and underserved segments of the population through leveraging of high mobile phone penetration in Nigeria.

“Therefore, Fintech has the potential to deepen the existing payment and financial system infrastructure to reach unserved and underserved areas and further stimulate economic growth”, Maida said.

He said the Commission has begun implementing new strategies to meet the new target of 70 per cent Broadband penetration by the year 2025 as contained in the Nigerian National Broadband Plan 2020-2025 and the blueprint released by the Honourable Minister for accelerating the growth of the digital economy sector through technology.

The EVC said these policies and strategies have huge implications for enhancing derivable benefits of the Fintech industry as well as significantly and positively impacting Nigeria’s goals on financial inclusion and the digital economy at large.

The NCC boss promised that the Commission will continue to support the Fintech industry in harnessing its enormous potential and will not rest on its oars in its strides to address the challenges in the sector, including improving the provision of secured infrastructure that support the delivery of digital financial services in efficient ways. He also reiterated the Commission’s focus on maintaining minimum standards in Quality of Service (QOS) to ensure uninterrupted connectivity to enhance sectoral contribution to the economy.

The EVC stated that the Commission, in support of its vision in this sphere, has implemented a Memorandum of Understanding with CBN on boosting payment systems and financial inclusion, which is in line with the Nigeria Payments System Vision 2025. He also informed that NCC will continue to play an important role in harnessing the potential of Fintech through maximum support for Fintech policies, enforcing regulations, and strengthening collaborations with relevant authorities.


Kindly share this post

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

Telecom

Airtel Africa Foundation Opens Undergraduate Scholarship Portal in Nigeria

Published

on

Kindly share this post

The Airtel Africa Foundation has opened applications for its Undergraduate Tech Scholarship in Nigeria, inviting first-year university students with strong academic potential to apply for financial support aimed at accelerating their studies in technology and related fields.

The scheme provides full tuition, accommodation support, and essential study materials for eligible 100-level students. It forms part of the Foundation’s F.E.E.D. agenda, which promotes Financial Empowerment, Education, Environmental Protection, and Digital Inclusion, with a focus on creating pathways for talented young people who face financial barriers.

Airtel Nigeria CEO, Dinesh Balsingh, encouraged students to take advantage of the opportunity. He noted that, “Education is one of the most powerful tools for national development,” adding that “as an organisation, Airtel is determined to build a platform for aspiring young Nigerians to learn, innovate and lead in the country’s expanding technology landscape.”

Applications are open to students pursuing courses such as Information Technology, Computer Science, Software Engineering, Data Science, Cyber Security, Artificial Intelligence, and other ICT-related disciplines at participating universities: University of Lagos, University of Nigeria Nsukka, Ahmadu Bello University, University of Benin, Obafemi Awolowo University, University of Ilorin, and Tai Solarin University of Education.

Dr Segun Ogunsanya, Chairman of the Airtel Africa Foundation, said the scholarship demonstrates the organisation’s commitment to nurturing Africa’s next generation of digital leaders. “Young Africans are brimming with talent and ambition. What many need is a fair chance to pursue their education without financial pressure. This scholarship reflects our belief that investing in their growth will strengthen communities, empower families, and expand the continent’s digital future,” he said.

Applicants must be enrolled in 100-level, have scored at least 230 in JAMB, and hold a minimum of five credits in WAEC, including English and Mathematics, in a single sitting. Required documents include Joint Admissions and Matriculation Board (JAMB) results, university admission letter, West African Examination Council (WAEC) certificate, student identity card, and academic transcript or university results.

The Foundation encourages qualified students across the listed institutions to apply and position themselves for a stronger start in the technology sector. Applications can be submitted at candidate.scholastica.ng/schemes/airtelfellowship2025.

 


Kindly share this post
Continue Reading

Telecom

YouTube Nigeria Unveils 2025’s Top Lists and Launches New YouTube Recap Feature

Published

on

Youtube rewind.jpg
Kindly share this post

YouTube Nigeria on Wednesday released its official 2025 Top Lists, celebrating the nation’s leading music videos and creators, while also unveiling a new personalized feature called YouTube Recap.

YouTube Nigeria Unveils 2025’s Top Lists and Launches New YouTube Recap Feature

YouTube

The lists highlight the explosive growth of Afrobeats, gospel, and Nollywood storytelling, underscoring Nigeria’s rising influence in global entertainment.

According to YouTube, the most-watched music video in Nigeria this year was No Turning Back II by Gaise Baba and Lawrence Oyor, followed by Shallipopi’s Laho and Davido’s With You featuring Omah Lay. Other artists on the Top 10 include Olamide, Asake, Rema, Chella, Wizkid, and Burna Boy.

On the creators’ side, Nollywood channels such as Omoni Oboli TV, Itelediconstudio, and Uchenna Mbunabo TV dominated the rankings, alongside comedy sensation Brain Jotter, who continues to attract millions of viewers with his skits.

Addy Awofisayo, YouTube’s Head of Music for Sub-Saharan Africa, said the lists reflect Nigeria’s “undeniable creative energy” and the global resonance of its artists and storytellers.

“From chart-topping music to must-watch Nollywood dramas, we’re proud that YouTube is the place where this talent can shine,” Awofisayo said.

The newly launched YouTube Recap feature offers users a personalized year-end summary of their viewing habits. It includes highlights such as top-watched channels, favorite topics, and a “Personality Type” card that categorizes viewers into one of 14 personas. It also reveals whether users rank among the top 25 per cent of fans for their favorite creators.

YouTube said the recap is accessible via a banner on the homepage of the app.

The company noted that the initiative aims to give Nigerians a fun and shareable way to celebrate the videos that defined their year


Kindly share this post
Continue Reading

Telecom

COUCH 2025 Grand Finale Highlights Student Breakthroughs, Secures Government Pledge for University Research Commercialization

Published

on

Kindly share this post

Coderina Education and Technology Foundation, in partnership with the National Universities Commission (NUC), successfully hosted the Grand Finale of the Coderina University Challenge (COUCH) 2025 at the NUC Auditorium, Abuja.

COUCH 2025 Grand Finale Highlights Student Breakthroughs, Secures Government Pledge for University Research Commercialization

A cross section of attendees

The event gathered top government officials, university leaders, industry partners, and the ten finalist teams selected from over sixty-two initial entries nationwide.

This year’s challenge, themed “Circular Economy Through Technology spotlighted the potential of Nigerian university students to develop scalable, tech-enabled solutions that address pressing national issues in sustainability, waste management, energy transition, and the circular economy.

The Grand Finale reaffirmed a consistent message shared across all keynote addresses: Nigeria must accelerate the movement of university research from shelves into practical innovation, commercialization, and industry adoption, a key driver of national development and economic growth.

In his opening address, Mr. Olufemi Niyi, chairman, Coderina Board of Directors, emphasized that university projects must not remain buried in archives.

He highlighted COUCH as a platform proving that research can become functional innovation.

Mr. Niyi called on donors, development partners, and private sector stakeholders to support COUCH as a sustainable national innovation pipeline and encouraged investors to channel resources into skills development and technology innovation among youth.

In his keynote address, Dr. Kingsley Tochukwu, the minister of Innovation, Science and Technology, commended the COUCH programme for its role in moving research “from the shelves to the marketplace,” a key priority under the ministry’s national innovation agenda.

He noted that the initiative exemplifies the type of collaboration and commercialization pipeline needed to unlock Nigeria’s scientific and technological potential.

He highlighted several priority areas critical to advancing the country’s innovation landscape:

“Strengthening Nigeria’s innovation ecosystem through coordinated national frameworks and partnerships; expanding digital innovation pathways to accelerate the adoption of emerging technologies, and building a tech-driven economy that delivers measurable value and global competitiveness”.

The Minister added that “Creating new opportunities for youth innovators, ensuring they are empowered to participate in and drive the innovation economy, are part of the key focus areas of the Ministry

He also expressed the Ministry’s readiness to partner with COUCH, Coderina, and the NUC to incubate and scale these student-led innovations.

Mallam Abdullahi Yusuf Ribadu, the executive secretary of NUC acknowledged the twelve universities nominated for the pilot edition by the commission.

He urged the finalists to use their prize money to advance entrepreneurship and technical skill development, reinforcing the NUC’s commitment to fostering innovation-driven learning across tertiary institutions.

In a remarkable commitment, the Minister donated five million naira to ‘Waste2Light’ from FUT Minna and announced an intention to collaborate with all ten finalist universities to support commercialization.

Dr. Tope Kolade Fasua, special address to the President on Economic Affairs, stated that technology remains the largest driver of global economic growth, stressing that Nigeria’s economic transformation is intertwined with youth innovation.

He commended Coderina and advised for greater visibility and national media outreach; creation of an innovation “museum or archive” for brilliant ideas, and the establishment of centers where theories and research can be turned into products.

He concluded that the future of Nigeria’s economy lies in the hands of today’s young innovators.

Professor Sa’adatu Hassan Liman, special guest at the programme and vice-chancellor, Nasarawa State University, delivering her address on “Sustainable National Transformation,” emphasized the need for stronger industry–university collaborations.

She also emphasized need for entrepreneurial university culture; digital literacy in emerging technologies such as AI, blockchain, IoT; adoption of virtual learning and remote laboratories, and inclusive innovation for underserved communities.

She highlighted AI as a catalyst for reimagining teaching and learning, including teacher retraining and curriculum enhancement.

The competition had two categories of prizes recognizing both technical excellence and public engagement.

Winners of the first category, The Challenge, based on pitch and prototype presentation was Team IMSU –  Imo State University , taking home the star prize of ₦5,000,000; 2nd Place winners: Team Neuronaut Nile University Prize, ₦2,500,000, and 3rd Place – Team Waste2light from the Federal University of Technology, Minna: ₦1,500,000.

The People’s Choice Awards winners, based on social media engagement and public voting, are Team ADSU Innovators – Adamawa State Uni.: ₦250,000; 2nd Place -Team Scraplink, Lagos State University: ₦150,000, and 3rd place – Team Circle from the Federal University of Technology, Akure, took home ₦100,000.

Giving COUCH overview, Ms. Christiana Anthony, the Project Lead, reaffirmed that COUCH is not merely a competition but a structured innovation development program.

She highlighted the strong collaboration between Coderina and the NUC, noting that the program has created a national pathway for students to design, build, test, and pitch solutions with real potential for commercialization.

The COUCH 2025 grand finale demonstrated Nigeria’s readiness to harness university-driven innovation as a catalyst for economic growth, job creation, and sustainable development.

 


Kindly share this post
Continue Reading

Trending