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COVID-19: DG NITDA Urges Financial Institutions to Improve Lending Access to SMEs

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Mallam Kashifu Inuwa Abdullahi, director general, National Information Technology Development Agency, NITDA,  has called on financial institutions in the country to increase lending access to Small and Medium  Enterprises  especially  Startups in the Financial Technology (FinTech) ecosystem in order to promote financial inclusiveness in the country.

 

Mallam Abdullahi disclosed this in a Webinar organised by FinTech Association of Nigeria with the theme: “COVID-19: Enabling Speedy Business and Economic Recovery Through Regulations.”

 

He stated that traditional banks’ lending process have long been a barrier to assessing finance for SMEs in Nigeria which has negatively impacting the operations of the SMEs, adding that the banks need to come up with innovative ideas to assist vulnerable SMEs in the era of COVID-19 that is plaguing the world.

 

He said, “the COVID-19 pandemic has disproportionately impacted SMEs around the world, Nigeria inclusive.

 

“Traditional bank lending process has long been a barrier to accessing finance for SMEs in Nigeria.”

 

He, however, informed that government is providing different types of interventions and palliatives but Financial Technology is not being employed optimally for disbursement.

 

Adding that, “our interventions are to help lead the tech startups from crisis to recovery as well as support them to navigate today’s challenging business landscape.”

 

While reiterating the promise of president MuhammaduBuhari’s administration to lift 100 million Nigeria out of poverty in 10 years, Mallam Abdullahi expressed optimism that government would support investment in startups to create jobs and future prosperity for all.

 

He explained that, NITDA as an Information Technology regulator in the country with twin mandates to regulate and develop the sector, had designed initiatives meant to provide a secure base for startup ecosystem with inclusion of FinTech startups.

 

He said, immediately the government pronounced the lockdown, NITDA constituted a 10-man committee named Tech4Covid with objectives to identify innovative solutions to address the pandemic; provide enabling policies and incentives to cushion the impact of the pandemic; and build massive digital skills to reskill the region to leverage technology in different sectors.

 

On funding for the innovative ideas of the startups, the NITDA DG recalled that the Minister of Communications and Digital Economy, Dr Isa Ali Ibrahim Pantami has directed all parastatals under the supervision of the ministry to set up an Innovation Research Fund for the startups, and NITDA is equally working with Bank of Industry, BOI, to give consideration to I T startups in accessing funding.

 

The DG further stated that the Agency is also supporting the IT hubs in the country by implementing the recommendations submitted by Tech4Covid committee on hubs’ support during and after the pandemic and had also developed innovation porter that would serve as database for innovation and entrepreneurship ecosystem.

 

He listed some of the policies the government has put in place to assist the startups to include the National Outsourcing Strategic policy, Nigeria Data Protection Regulation, Reviewing of Framework and Guideline for the Use of Digital Platform by Federal Public Institutions, and the National Cyber Security Policy.

 

Another Speaker at the webinar and Chairman, Africa FinTech Network, Mr. Segun Aina, described the agency as a great pillar of support which has been reliable in providing fund for FinTech in Nigeria.

 

He said, “although most of the funding come from outside the country but regulatory agencies like NITDA have been very helpful in assisting the FinTech industry.

 

He said that the Association is embarking on advocacy and support for the startups in 32 African countries and assisting them to access funding from organisation like African Development Bank.

 

Another speaker, Mr. Sopnendu Moharty, in his own remarks maintained that African needs to prioritize the new normal by leving that “COVID-19 has given us opportunity to rethink.

 

He said, for economy to survive the pandemic, there is need for people to leverage on IT.

 

“We need to digitise everything and you can’t argue with the fact that if you don’t digitise you will die,” he concluded.

 

 


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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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MTN Suspends Data, Airtime Borrowing Service over New FCCPC Lending Rules

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MTN Nigeria has announced the temporary suspension of its airtime and data advance service, Xtratime, following new regulatory requirements introduced by the Federal Competition and Consumer Protection Commission (FCCPC).

MTN Suspends Data, Airtime Borrowing Service over New FCCPC Lending Rules

The telecom giant disclosed the development in a filing to the Nigerian Exchange Limited (NGX) on Thursday, stating that the move is necessary to comply with the FCCPC’s Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations, 2025.

Xtratime, widely used by prepaid subscribers, allows customers to borrow airtime or data and repay on their next recharge.

In the disclosure signed by Uto Ukpanah, company secretary, the firm confirmed the halt, noting, “MTN Nigeria Communications PLC hereby notifies the Nigerian Exchange Limited and the investing public that the company has temporarily suspended its airtime and data credit advance service (‘Xtratime’).”

The company explained that the service now falls within the scope of the FCCPC’s expanded regulatory framework, which mandates fresh licensing and stricter compliance procedures for digital credit providers.

“The suspension relates to the implementation of processes under the Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations, 2025, which introduced a new compliance and licensing framework for entities providing digital or non-traditional consumer credit services,” the statement added.

Despite the suspension, MTN reassured subscribers that alternative channels for purchasing airtime and data remain fully operational. It also downplayed the financial impact of the move.

“Given the scale within the revenue mix, we do not expect the temporary suspension to have a material impact,” the company said, adding that it is closely monitoring customer behaviour and will provide further updates in its first-quarter 2026 results.

The FCCPC’s 2025 regulations significantly broaden oversight of Nigeria’s digital lending ecosystem, bringing telecom operators and other providers of short-term credit services under stricter scrutiny. Companies offering such services are now required to register and obtain regulatory approval to continue operations.

The Commission had initially introduced a framework for digital lending in 2022, but expanded it in 2025 amid rising concerns over consumer debt, data privacy and lending practices.

 

 

 


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Nokia, Orange Partner on AI-native 6G Networks

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Nokia and Orange are co-developing new strategies to maximise spectral efficiency across existing and future mobile bands, including the upper 6 GHz range, as networks transition toward 6G.

This follows an announcement of a partnership with NVIDIA to develop and evaluate Artificial Intelligence Radio Access Network (AI-RAN) technologies.

The initiative will combine the anyRAN 5G software of Nokia with the AI infrastructure of NVIDIA to improve network performance and energy efficiency.

The collaboration aims to transform service delivery for Orange across Europe, the Middle East, and Africa, says Nokia.

Under a new structured co-innovation framework, the partners will explore how GPU-based radio processors can boost performance via advanced receivers.

The goal is to integrate artificial intelligence (AI) directly into the RAN to automate environments, support sensing services and drive resource utilisation.

“By collaborating with Nokia and NVIDIA, we can better understand how the AI-native architecture enabled by AI-RAN can improve the efficiency of key radio algorithms such as scheduling, beamforming, and power optimisation — enhancing both spectral efficiency and energy performance, while also enabling advanced capabilities like predictive optimisation and radio sensing. This collaboration is an important step in our long-term network strategy,” says Laurent Leboucher, group chief technology officer at Orange.

Pallavi Mahajan, chief technology and AI officer at Nokia, comments: “AI is reshaping how networks are designed, introducing new levels of intelligence and flexibility across the radio layer.

“Through this collaboration with Orange, we are exploring how Nokia and NVIDIA’s AI-RAN solution brings advanced AI and RAN functions together in a unified architecture. This will be instrumental in enabling the industry’s transition toward cognitive, AI native networks.”

Orange is currently the fourth-largest telecoms operator in Africa with 18 markets on the continent. The partnership marks a significant attempt to leverage AI to accelerate digital transformation as the first wave of 6G approaches.


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Zoho Nigeria champions women’s digital empowerment at the Guardian Women Festival

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Zoho Nigeria partnered with Guardian Newspapers for the Guardian Woman Festival, a month-long initiative celebrating women’s contributions to business, governance, and social development while promoting digital empowerment for female entrepreneurs.

Zoho Nigeria champions women’s digital empowerment at the Guardian Women Festival

Kehinde Ogundare

Held at the Federal Palace Hotel in Victoria Island, Lagos, the festival focused on the theme “Reciprocity,” encouraging the exchange of value, networks, and digital innovation to strengthen women-led businesses and foster collaboration.

During the event, Kehinde Ogundare, Country Head of Zoho Nigeria, delivered a keynote address titled “Give Value, Gain Growth: Women Driving Reciprocal Innovation in the Digital Economy”. In his remarks, he highlighted the urgent need to bridge the digital gap for female entrepreneurs.

While Nigeria has the highest concentration of women-owned businesses in Africa, fewer than 30% currently use digital tools to manage or grow their operations. Ogundare noted that technology does not replace the strengths women already bring to business, such as relationship building and community engagement. Instead, it amplifies them, enabling entrepreneurs to reach wider audiences and scale more efficiently.

“The difference is not talent. Not capital. Not ambition. It is digital adoption,” said Ogundare during his keynote. “Smart tools create smart businesses. Smart businesses create strong economies. When women entrepreneurs and leaders have access to the right tools, the possibilities for growth are limitless.”

Zubaida Aliyu, Sales Manager at Zoho Nigeria, also brought her expertise to the festival’s panel session on ‘Women in the Business of Digital Innovation’. She highlighted how women are uniquely positioned to create shared value in digital spaces by building platforms that encourage knowledge sharing, mentorship, and collaboration.

Aliyu also challenged organisations that continue to view women’s digital inclusion primarily as corporate social responsibility rather than a strategic business priority.

“Tech creates a level playing field,” she said, noting that digital platforms remove limitations related to location and infrastructure size. Addressing organisations that overlook the economic value of inclusive digital strategies, she added, “They are leaving money on the table — they need to think of it as a strategy not charity”.

Through its participation in the Guardian Woman Festival, Zoho reaffirmed its commitment to providing affordable and accessible enterprise-grade technology to businesses of all sizes. By helping women transition from manual effort to digital efficiency, Zoho aims to support entrepreneurs build scalable enterprises and ensure their sustained success in Africa’s digital economy.


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