Connect with us

News

CBN Grills Applicants, Prepares to Issue MMT Licenses

Published

on

L-r:  Segun Ogunsanya, Chief Executive Officer & Managing Director, Airtel Nigeria,  and Ogbeni Rauf Aregbesola , Governor of Osun State, at the Nigerian Telecom Development Lecture (NITDEL), at the weekend  in Lagos
Kindly share this post

It is all coming together now as the Central Bank of Nigeria (CBN) prepares to issue the first set of licenses to mobile money providers that would provide services to the under-banked and under served segments of the country, Nigeria CommunicationsWeek can now reveal.
There were flurry of activities at the apex bank at the weekend as applicants besieged the CBN in Abuja to tidy their documentations.
The applicants met with official s of the apex bank and defended their proposals which cover technical, financial projections, risk management and settlement issues that must be surmounted before licenses are granted.
Nigeria CommunicationsWeek gathered that risk management and settlement issues seem to be high on the agenda of the CBN.
Some of the applicants who shared some insights with us were however not forthcoming on license announcement dates.
Abayomi Atoloye, director Banking Operations, CBN had in an earlier interview with this newspaper said that no operator was licensed yet for mobile money services.
He said the apex bank will soon start issuing licenses to operators who are expected to leverage on the ubiquity of the mobile phone and the interoperability of the technology to provide easy to use and secure mechanism for millions of people nationwide.
The apex bank had in June 2009 released the mobile payment guidelines and the general misconception is that one or two operators have the license and are yet to activate their services.
What can however be confirmed is that some bank-led consortia like UBA, Stanbic IBTC, First Bank and others are in the provisional list to be released by the CBN .
Elsewhere, independent led model like Cash 2 Card, Easi Pay and Mtech are also on the list.
Already, Moneybox Africa, a licenced mobile banking provider recently launched services in Lagos.
With the license, a mobile payment provider can provide mobile banking, payment and associated services using agent networks and using the mobile phone as a means of authentication.
Nigeria CommunicationsWeek gathered that the CBN is very keen to licence providers in Nigeria where millions are excluded from formal financial services.
But most of the potential players are still skeptical about the role of mobile network operators and access to their network resources.
Emmanuel Okoegwale, of MobileMoneyAfrica explained that though the fears are genuine efforts are being made to address.
He said that some of the initiatives are the third party regulatory framework which Nigeria Communications Commission (NCC) is party to.
According to him, this will address the fears of stakeholders with Mobile Network Operators (MNO’s) since NCC can enforce certain aspects of the regulatory document where the CBN is hamstrung.

Okoegwale also said major issues like Unstructured Supplementary Services Data (USSD) access, generally associated with real-time or instant messaging type phone services, will be sorted out in the next few months by Clickatell
Nigeria CommunicationsWeek gathered that Nigeria is at the threshold of Mobile Money Transfer and Payment, a new revolution that is potentially more profound than the arrival of mobile phones in the country but this time sweeping and exponential.
Hailed as the next big bang, mobile payment industry will change the way consumers interact with financial services and make payments and the major plank will be the mobile phone.
With only 22 million bank accounts and less than10, 000 bank branches for 140 million citizens, mobile payments will reach over 80 million mobile phone holders and million others that do not have access to formal financial services in urban and rural areas.

 


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

Continue Reading
Advertisement
Comments

News

NPC Opens Nationwide Digital Birth, Death Registration Platform

Published

on

Kindly share this post

National Population Commission (NPC) has commenced the nationwide digital registration of births and deaths under the Electronic Civil Registration and Vital Statistics (E-CRVS) system to strengthen legal identity management and improve demographic data.

NPC Opens Nationwide Digital Birth, Death Registration Platform

Speaking at a press briefing in Lokoja on Tuesday, Mr Afolabi Yori, federal commissioner representing Kogi, said the initiative became operational nationwide on July 1, through the VitalReg platform.

Yori described the development as a landmark in Nigeria’s civil registration system, noting that it would modernise birth and death registration through a technology-driven platform that meets international standards.

He said the digital platform would improve service delivery, strengthen data integrity and ensure that every birth and death occurring in Nigeria was accurately documented and securely stored.

According to him, civil registration is more than an administrative process, as it provides reliable statistics that support public policy formulation, resource allocation and national development planning.

Advertisement

“Nigeria records an estimated five million births annually, yet millions of births and deaths remain unregistered.

“Birth registration coverage currently stands at about 57 per cent nationwide, while death registration remains below 20 per cent,” he said.

The commissioner said that the commission had established 4,011 functional registration centres across the country’s 774 local government areas and was working to expand the number to about 8,000.

He added that the commission was strengthening collaboration with stakeholders to improve the capacity of registration personnel and ensure prompt documentation of vital events through the VitalReg platform.

Yori said the platform would provide faster registration services, 24-hour online access, digital certificate issuance where applicable, and reduce paperwork, waiting time and unnecessary travel.

Advertisement

He disclosed that the platform was being operated under a Public-Private Partnership with Barnks-forte Technologies Ltd. as the commission’s technical partner to ensure system availability, cybersecurity and continuous technological improvement.

He called on parents, healthcare institutions, traditional and religious leaders, civil society organisations, development partners and the media to support the initiative by encouraging the prompt registration of births and deaths.

Earlier, Samuel Omonakpeme, director in Kogi, NPC State, described the commencement of the digital registration system as another milestone in efforts to strengthen Nigeria’s Civil Registration and Vital Statistics system.

Omonakpeme stated that the initiative aligns with the Federal Government’s digital transformation agenda and the Sustainable Development Goals, particularly Goal 16.9, which seeks to provide legal identity for all.

He appreciated the Federal Government, the leadership of the commission, UNICEF and other development partners for supporting the implementation of the initiative.

Advertisement

The state director also urged parents, guardians, health institutions, community leaders, religious organisations and the media to mobilise public support for the timely registration of all births and deaths.

The News Agency of Nigeria (NAN) reported that ICT personnel of the commission, led by Ehimoni Kolawole, conducted a live demonstration of the digital birth registration process using the VitalReg platform.

The demonstration showed that the registration process captures the biodata of both parents, while at least one parent must possess a valid National Identification Number (NIN) to complete the registration of a newborn.

Kindly share this post
Continue Reading

News

YEDC Warns Customers, Says 20 Percent Electricity Bonus is Scam

Published

on

Kindly share this post

Yola Electricity Distribution Company (YEDC) has alerted its customers to a fraudulent message circulating on social media, falsely claiming that electricity consumers can receive an additional 20 per cent bonus units when recharging their prepaid meters through unofficial channels.

YEDC Warns Customers, Says 20 Percent Electricity Bonus is Scam

In a statement issued by the company’s management on Monday, YEDC described the claim as false and urged customers to disregard the misleading information, stressing that it did not originate from the company.

According to the statement, YEDC does not offer bonus electricity units through individuals, agents, personal bank accounts, phone numbers, or social media contacts.

The company advised customers to purchase electricity tokens only through approved cashless payment platforms, including the YEDC Pay App, OPay, Interswitch, and other authorised vending channels, or to visit the nearest YEDC office for assistance.

YEDC also cautioned customers against sharing their meter details or personal information, or making payments to unauthorised persons claiming to represent the company.

Advertisement

The company further urged customers to rely exclusively on information disseminated through its official communication channels to avoid falling victim to fraud.

The management thanked customers for their continued cooperation and reaffirmed its commitment to serving them.

Kindly share this post
Continue Reading

News

PFIPC Probe: Dollar, Pounds Accounts of Fake Agency Inactive – CBN

Published

on

Kindly share this post

Central Bank of Nigeria (CBN) has disclosed that two foreign currency accounts opened in connection with the controversial Presidential Foreign Investment Promotion Council (PFIPC) have remained inactive since their creation, with no funds deposited and no transactions recorded.

PFIPC Probe: Dollar, Pounds Accounts of Fake Agency Inactive - CBN

The revelation emerged on Monday during the ongoing investigation by the House of Representatives Ad-hoc Committee probing the circumstances surrounding the establishment and operations of the council.

Lawmakers are investigating allegations that the PFIPC was created and operated without a valid legal framework and outside the established procedures required for government agencies and institutions.

Appearing before the committee, representatives of both the Central Bank of Nigeria and the Office of the Head of the Civil Service of the Federation (OHCSF) distanced their institutions from the establishment of the council.

The Office of the Head of the Civil Service of the Federation stated that it neither created the council nor possessed the constitutional authority to establish federal agencies.

Advertisement

Representing the office, officials explained that the OHCSF is only responsible for approving administrative structures of government agencies after all necessary requirements have been fulfilled.

According to the office, records showed that the council submitted a request on August 6, 2025, seeking approval for its organisational structure.

However, the application was not approved because the required supporting documents were not attached.

The committee heard that despite the rejection of the request, officials linked to the Presidential  Economic Advisory Council (PEAC)/PFIPC later appeared during the 2025 manpower budget defence exercise and sought approval for staffing and recruitment arrangements.

The office disclosed that the council informed government officials that its activities were being carried out largely through personnel seconded or deployed from other institutions.

Advertisement

Lawmakers were told that the council requested approval for a total of 314 positions. The figure consisted of 14 existing officers and an additional 300 proposed positions.

The Office of the Head of the Civil Service further revealed that concerns later arose regarding documents presented by the council as evidence of its legal backing.

Officials told the committee that upon examination, the documents failed to display essential features expected of an enabling law or valid legal instrument establishing a government body.

Mrs. Didi Esther Walson-Jack, head of the Civil Service of the Federation, also rejected claims that her office deployed civil servants to work for the council.

She maintained that the office did not assign personnel to the body and did not provide office accommodation for its operations.

Advertisement

According to her, matters relating to the creation, supervision and oversight of government agencies fall under the responsibilities of other relevant institutions, including the Office of the Secretary to the Government of the Federation.

The Central Bank of Nigeria also provided details regarding accounts linked to the council.Nigerian current events

Hamisu Abdullahi, director at the apex bank, who represented the CBN  Governor before the committee, explained that the bank opened two foreign currency accounts following a formal request from the Office of the Accountant-General of the Federation.

He told lawmakers that the request was received on July 30, 2025, and instructed the bank to create a United States dollar domiciliary account and a Pound Sterling domiciliary account.

 

Advertisement

Abdullahi stressed that the CBN only opens accounts for government agencies after receiving official authorisation from the Accountant-General’s office.

However, he disclosed that the accounts never became operational because the council failed to provide authorised signatories required for activation.

As a result, both accounts remained dormant from the day they were opened.

He informed the committee that neither account had received deposits nor processed withdrawals. The accounts also recorded no foreign exchange allocations, remittances, inflows or outflows.Governor election news

According to him, the balances in both accounts remain at zero.

Advertisement

The CBN official further stated that the council did not engage directly with the apex bank regarding the management or operation of the accounts after they were created.

Following the submissions, members of the committee demanded more information as part of efforts to determine the full scope of the council’s activities.

Hon. Abdulmalik Danga, chairman of the committee, directed the Central Bank to submit comprehensive records relating to both the Presidential Foreign Investment Promotion Council and the Presidential Economic Advisory Council.

The committee requested details covering the opening of the accounts, their operational history and any information connected to related banking activities.

Lawmakers also instructed the CBN to work with commercial banks to identify and provide records of any accounts linked to the entities under investigation.

Advertisement

However, the committee is expected to continue its hearings as more government agencies and officials appear before lawmakers to provide explanations on the controversial council and the circumstances surrounding its operations.

Kindly share this post
Continue Reading

Trending