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MTN Nigeria, Other Telcos And Banks Support NIBSS For The Relaunch Of mCash

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L-R: General Manager, Mobile Financial Services, MTN Nigeria, Usoro Usoro; Deputy Managing Director/Chief Risk Officer, Diamond Bank, Caroline Anyanwu; Executive Director, Business Development, NIBSS, Niyi Ajao and Chief Executive, Stanbic IBTC Bank, Dr. Demola Sogunle at the Mcash Relaunch Event at the Eko Hotel and Suites on Tuesday, July 31st, 2018
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MTN Nigeria along with sixteen banks and all major mobile telcos, came together for the Nigeria Inter-Bank Settlement Systems’ relaunch of mCASH this week.

 

The event held at The Orchids, Eko Convention Centre, Eko Hotel & Suites, Victoria Island, Lagos on Tuesday, July 31

 

MCASH, is a mobile payment system for making low-value retail payments designed to extend e-payment options to low-income buyers and sellers who deal in cash. The cashless initiative was first launched in 2016.

 

Speaking at the re-launch of the platform in Lagos, Ferdi Moolman, CEO, MTN Nigeria represented by the Mr Usoro Usoro, General Manager, Mobile Financial Services, MTN described the initiative as the outcome of what can be achieved when organisations work together for a common goal, to serve.

 

“It’s incredible how much the world has changed and continues to evolve with new ideas and technologies.

 

“Today, Africa is increasingly embracing new ways of payment for retail consumption and transactions.

 

“For those of us in the telecoms industry, this presented us with the question; how do we fully utilise all available options to provide standardised and efficient mobile cashless services for micro-payment and collections? The answer? Ladies and gentlemen is MCASH,” he said.

 

 

Mr. Adebisi Shonubi, Managing Director and Chief Executive Officer, NIBSS, said that the MCASH initiative was borne out of the need to enhance financial inclusion in Nigeria by extending e-payment benefits to payers and merchants who operate at the local levels especially the small and medium scale business owners.

 

“The intention is to expand the payment opportunity for people who still use cash today to find a more convenient means of making payments.

 

“To ensure the paradigm shift, we had to promote an ecosystem partnership consisting of banks and telecomunnication companies thereby birthing what has become a novel collaboration anywhere in the world – a service that is not one bank or one telco driven but which is ecosystem driven,” Shonubi said.

 

This USSD-based service delivers funds to merchants’ accounts based on USSD technology.

 

You can use mCASH by simply dialling *402*Seller’s code*Amount# to pay accepting merchants.

 

 


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

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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.

 


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Google Invests $2.1m to Boost Nigeria’s AI Development

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Google.org has announced a $2.1 million (₦3 billion) investment to support Nigeria’s artificial intelligence sector, targeting the creation of one million digital jobs and strengthening the country’s growing tech economy.

Google Invests $2.1m to Boost Nigeria’s AI Development

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The initiative is aligned with Nigeria’s National AI Strategy and is expected to contribute significantly to the nation’s digital transformation, with AI projected to add $15 billion to the economy by 2030.

The funding will support partnerships with local organizations focused on skills development and cybersecurity.

FATE Foundation and the African Institute for Mathematical Sciences (AIMS) will collaborate with universities to integrate AI curriculum into classroom teaching, creating a sustainable pipeline of AI-ready graduates.

Similarly, the African Technology Forum (ATF) will run an AI innovation challenge, guiding developers from bootcamp training through product development and pitching stages.

Google also emphasized digital safety. Junior Achievement Africa will scale the “Be Internet Awesome” curriculum to teach online safety to youth, parents, and teachers nationwide, while the CyberSafe Foundation will provide cybersecurity training and technical support to public institutions to strengthen digital infrastructure defenses.

Highlighting the human impact of its digital skills programs, Google cited the case of Joel Kiate, a digital marketer in Abuja, who secured employment after completing Google’s training despite failing university entrance exams five times.

A Google spokesperson said: “When we connect people with the right tools and opportunities, they don’t just find jobs—they build careers and become part of Nigeria’s growing digital economy.”

The investment reflects growing confidence in Nigeria’s tech sector, which continues to position itself as a major hub for digital innovation in Africa.


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Team OneGrid Energies  Wins 3 Million @MTN PachiPanda Challenge

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As Team OneGrid Energies walked away with the grand prize of three million naira and an HP laptop each at the MTN 2025 PachiPanda Challenge, the strongest message from the closing ceremony held on Wednesday, November 26, 2025, was not just about winning ideas, but about building ideas that pay.

Team OneGrid Energies  Wins 3 Million @MTN PachiPanda Challenge

OneGrid Energies

Tobechukwu Okigbo, Chief Corporate Services & Sustainability Officer at MTN Nigeria, delivered a powerful charge to the next generation of African climate innovators. He said, “Too often we celebrate innovation only for its brilliance. Today I challenge you to go further and create bankable innovation. Look around you, find the problems that need solutions, and solve them with boldness. The future belongs to you, and Africa is counting on you all to rise and deliver the change we have been waiting for.”

Okigbo reminded the finalists that Africa’s greatest asset is its youth, and that digital tools, from AI to the internet, have levelled the global playing field. “The future is yours,” he declared. “You are the leaders of tomorrow and with the necessary tools and boldness, you have the platform to rise and rewrite Africa’s story.”

The winning solution by OneGrid Energies, a scalable platform providing smallholder farmers with hyper-localised climate data and optimised planting advice, was hailed as a perfect example of innovation that can both save livelihoods and create viable business models.

Joshua Ndaman secured second place with his innovative solution, BuyScrap, a tech-driven platform that streamlines the collection and recycling of electronic waste. By ensuring that discarded electronics are ethically reused and repurposed, BuyScrap supports a circular economy and provides a reliable link between households and processors in the e-waste value chain.

Representing Dr. Joseph Daniel Onaja, Director General, Nigerian Conservative Foundation, Uchenna Achunine, Director, Business Development and Communications, Nigerian Conservation Foundation, congratulated the winners and commended their efforts in the two-day, intense pitch hosted by MTN Nigeria in partnership with WWF, the three-day PachiPanda Challenge held from 24–26 November 2025, transformed the MTN Rooftop in Lagos into a launchpad for climate-tech startups, proving that African youth are not waiting for permission to solve the continent’s biggest challenges; they are already building the profitable, impactful solutions the world needs.


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