Telecom
Aig-Imoukhuede Claims Access Bank Designed MTN‘s Winning Business Model
Aigboje Aig-Imoukhuede, former group managing director of Access Bank and founder of Africa Initiative for Governance (AIG), has revealed how the lender created a winning business model for MTN in Nigeria.
Aigboje Aig-Imoukhuede, former group managing director of Access Bank
He was speaking during a virtual interview with African Banker magazine, the veteran banker explained that it was challenging to convince MTN to work with Access Bank.
In February 2001, MTN Nigeria won 1 of 3 new licenses awarded through an open auction process as part of the liberalisation of the telecommunications sector.
According to Aig-Imoukhuede, through the use of a “value-chain model” and indepth understanding of the telco’s businesses, Access Bank was able to come up with strategies which helped MTN to navigate the Nigerian market.
“We deconstructed the entire value chain of MTN. In doing so, we came up with two issues for MTN. One, they needed a distributor model that would work for Nigeria. The traditional models that they knew in other African countries did not lend itself easily to Nigeria. We didn’t have malls, a retail footprint as you would have in other markets, as well as digital technology that would allow for airtime distribution,” he said, at the event attended by TheCable.
“You needed a physical distribution system that worked. So, we partnered with them to create, identify and train distributors. We came up with a dynamic distributor financing package.
“Another issue was their infrastructure. There are two things that make a good telco. One was their ability to distribute their airtime but the quality of the airtime is also fundamentally important.
“Rolling out a national telco infrastructure in Nigeria is not an easy thing to do. The geology and geography of Nigeria can be very challenging. We identified local construction companies who could go out there and do this rollout but they didn’t have capital.
“We came up with a concept called a cell site in a warehouse. We had these giant warehouses and a supply chain management system where we import the components of a cell site such as generators, steel and we would release them to local contracting companies at about five cell sites at a time. So, the risk was limited. Even though there was enough in terms of thousands of cell sites in a warehouse, the risk of failure was managed by us.
“Importantly, we didn’t just limit ourselves to the domain of finance. We found ourselves doing things as McKinsey or a consultant company would do. It turned out to be a winning model. We rolled it out not just for MTN but across corporate Nigeria.”
Responding to a question on what he would do differently if he could go back to the drawing board, he said he would acquire more shares in Access Bank.
Aig-Imoukhuede also emphasised the importance of partnerships in businesses, adding that the mutual belief he and Herbert Wigwe, his business partner, had in each other, drove the success of Access Bank.
In his new book titled ‘Leaving the Tarmac: Buying a Bank in Africa’, he recounts the events leading to the acquisition of Access Bank in 2002 and growing it with Wigwe, present chief executive officer (CEO), into Nigeria’s biggest bank by customer base and Africa’s banking powerhouse.
CMS Transport Management (CMS T&M), one of Lagos State’s oldest and most trusted transport operators, has introduced a new cashless payment service, known as TMO Rides, to improve commuting experience for passengers on its bus routes, particularly the CMS–Ajah corridor.
The initiative, which was formally launched in Lagos, is aimed at simplifying daily commuting by providing seamless, technology‑driven payment options across the CMS T&M high‑capacity bus network.
For nearly six decades, CMS T&M has played a significant role in Lagos transportation, moving thousands of passengers daily along the CMS–Ajah axis with its fleet of high‑capacity buses. The launch of TMO Rides marks another milestone in the company’s efforts to build a smarter and more efficient transport system for residents of Lagos.
Under the TMO Rides scheme, passengers will have access to TMO Cards and dedicated mobile applications that enable them to pay for bus trips digitally. The company said the service is designed to eliminate the use of cash, reduce boarding delays and create a more convenient and predictable commuting experience for its customers.
Beyond the deployment of digital fare payments, the initiative reflects CMS T&M’s broader commitment to modernising public transportation through innovation, operational efficiency and improved customer service.
CMS T&M operates within Nigeria’s regulated transport ecosystem as a registered member of the Bus Rapid Transit Association of Nigeria (BRTAN), where it is also an equity stakeholder, underscoring its commitment to a cooperative‑driven transport system. It is equally registered with the Lagos Metropolitan Area Transport Authority (LAMATA), the agency responsible for planning, regulating and franchising public transportation in Lagos State, and is a member of the National Union of Road Transport Workers (NURTW), which promotes safe and organised road transport operations.
Speaking on the launch, the Managing Director of CMS T&M, Andy, said the company was determined to keep pace with the changing transportation needs of Lagos residents.
“For nearly six decades, our focus has remained the same, which is moving people safely and efficiently. As the transportation needs of Lagos continue to evolve, we must evolve with them,” he said.
“TMO Rides is about making everyday commuting easier by giving our passengers a faster, more convenient way to pay while improving the overall travel experience. This launch represents another important step in our commitment to building a smarter, more accessible transport system for everyone,” he added.
CMS T&M explained that the cashless payment infrastructure powering TMO Rides is enabled by Treepz, a mobility technology company whose platform supports digital fare collection and operational efficiency for transport operators. By providing the technology behind the initiative, Treepz is helping CMS T&M expand access to modern, seamless transportation while advancing a shared vision of making everyday mobility more connected, convenient and accessible across Lagos.
The company said the introduction of TMO Rides forms part of its long‑term vision to embrace technology in improving public transportation without compromising the trust and consistency that passengers have relied on for generations.
CMS T&M urged commuters on the CMS–Ajah corridor and other serviced routes to take advantage of the TMO Cards and rider applications as they are rolled out, noting that more information on registration, usage and route coverage would be provided through its official channels.
More details about CMS T&M and the TMO Rides service are available on the company’s website, https://www.cmstaxiandmotor.com/.
Treepz, a mobility technology company, has partnered with CMS Taxi & Motor Nigeria Limited (CMS T&M) to digitise public transportation and improve commuting for millions of passengers on the CMS–Ajah corridor in Lagos.
Treepz
The partnership is expected to introduce cashless payments, digital ticketing and enhanced operational efficiency to public transport services along the route.
According to a statement by the company, the collaboration combines Treepz’s transportation technology with CMS T&M’s decades of experience in public transport operations.
The statement said the integration of Treepz’s digital mobility platform into CMS T&M’s operations would provide passengers with faster, safer and fully cashless payment options while enabling operators to improve service delivery.
It added that transport operators would benefit from real-time operational insights, digital ticketing systems and improved revenue management.
Co-Founder of Treepz, Mr Johnny, said public transportation remained the backbone of every thriving city and required technology-driven solutions to improve efficiency.
“Our mission has always been to use technology to make commuting easier and more efficient for everyone.
“Partnering with CMS T&M represents another important milestone in digitising public transportation in Nigeria and empowering operators with the tools they need to scale sustainably,” he said.
According to him, replacing manual ticketing and cash collections with digital systems will improve transparency for transport operators while enhancing the daily commuting experience for passengers.
Also speaking, Managing Director of CMS T&M, Mr Andrew Akhigbe, said the company had served Lagos commuters for decades and viewed innovation as critical to its continued growth.
He said the partnership would enable the company to adopt modern technologies capable of improving operational efficiency, strengthening accountability and providing greater convenience for passengers.
Akhigbe noted that embracing digital solutions would position the company to meet the evolving transportation needs of residents in Africa’s largest city.
The companies said the partnership reflected their shared commitment to accelerating the digital transformation of Nigeria’s transport sector while improving the quality, reliability and accessibility of public mobility services.
Treepz said it would continue expanding its technology-driven mobility solutions across Africa by helping transport operators digitise their services and improve customer experience.
The company noted that beyond public transportation, it also provides mobility solutions for businesses, educational institutions, religious organisations and governments seeking smarter transport systems.
It added that the partnership aligns with ongoing efforts to leverage technology in transforming urban mobility and supporting Lagos’ aspiration to become one of Africa’s leading smart cities.
According to the company, digital innovation remains essential to building an efficient, transparent and connected transportation ecosystem capable of serving millions of commuters daily.
Visit our website: https://www.cmstaxiandmotor.com/
Asset Management Corporation of Nigeria (AMCON) has commenced the process of divesting its interest in NTEL/NATCOM, saying the telecommunications company has undergone a major transformation that positions it as one of its most promising asset recovery success stories.
NatCom Development and Investment Limited, trading as ntel, is a Nigerian telecommunications company that acquired the core legacy assets of the defunct Nigerian Telecommunications Limited (NITEL) and its mobile arm (MTel) in 2015.
Mr. Gbenga Alade, managing director and chief executive officer, AMCON, disclosed this during an interactive session with senior media executives in Lagos at the weekend, where he also revealed that the Corporation recovered about N165 billion in the first half of 2026, representing a 64 per cent increase over the N107 billion recovered during the corresponding period of 2025.
Alade said the planned sale of NTEL follows the successful divestment of the Ibadan Electricity Distribution Company (IBEDC) and forms part of AMCON’s strategy to unlock value from distressed assets while attracting credible investors into key sectors of the economy.
According to him, the divestment programme is being conducted through a transparent and structured process designed to attract strategic investors capable of repositioning the telecoms company for sustainable growth.
He explained that NTEL, the successor to the defunct Nigerian Telecommunications Limited (NITEL), has embarked on a comprehensive three-pronged transformation strategy aimed at restoring its competitiveness and enhancing its investment appeal.
“The repositioning effort is designed to maximise value, strengthen operational competitiveness and prepare the business for long-term sustainability under new investment,” Alade said.
He described the transformation of NTEL as a significant milestone in the revitalisation of Nigeria’s legacy telecommunications assets, noting that the company remains an important part of the country’s telecom infrastructure and history.
Alade expressed confidence in the Board and Management of NTEL/NATCOM, saying their leadership has laid a solid foundation for the company’s next phase of growth.
“The remarkable transformation of NTEL is poised to become one of AMCON’s most notable success stories in the telecommunications sector. We have full confidence in the Board and Management of NTEL/NATCOM as they continue to demonstrate experience, innovation, diligence and commitment towards positioning this Nigerian-owned company to compete favourably with its peers both locally and internationally,” he stated.
He assured stakeholders that further updates on the divestment exercise would be communicated as major milestones are achieved, stressing AMCON’s commitment to transparency throughout the process.
Alade said the telecommunications divestment aligns with AMCON’s statutory mandate of maximising value from distressed assets, supporting economic growth and strengthening confidence in Nigeria’s financial system.
Beyond the planned sale of NTEL, the AMCON boss highlighted the Corporation’s improved operational performance, revealing that recoveries rose sharply in the first six months of the year.
According to him, the Corporation recovered approximately N165 billion between January and June 2026, compared to N107 billion recorded in the same period last year, while maintaining a cost-to-recovery ratio of just 2.3 per cent, reflecting greater operational efficiency.
Alade also announced what he described as a landmark Supreme Court judgment that strengthens AMCON’s debt recovery powers and clarifies key provisions of its enabling law.
He said the apex court affirmed that the AMCON Act constitutes a special legal regime that must be interpreted purposively because the Corporation was established to address the financial crisis triggered by the systemic banking challenges of 2008.
According to him, the Supreme Court further ruled that AMCON is exempt from paying stamp duties and confirmed that regardless of the size of an obligor’s indebtedness, the Corporation has the statutory authority to dispose of collateral assets in enforcing its rights and recovering outstanding debts.
“While we celebrate this landmark judgment and several other legal successes, we are not resting on our oars. We remain mindful of the various tactics employed by recalcitrant obligors to frustrate the Corporation’s operations,” Alade stated.
Responding to calls for the winding down of AMCON, the Managing Director alleged that many of those advocating the Corporation’s closure are debtors seeking to frustrate its recovery efforts.
He stressed that any decision on AMCON’s sunset remains the exclusive responsibility of its Board and the Central Bank of Nigeria (CBN), adding that the Corporation remains focused on recovering debts owed on behalf of the Nigerian people.
Alade also said AMCON has intensified collaboration with debt recovery partners, solicitors and receiver managers to improve the effectiveness of its recovery strategies.
“We regularly engage and sensitise our debt recovery partners, solicitors and receiver managers on the unique provisions of the AMCON Act. This ensures that when they appear in court on matters concerning the Corporation, they are fully conversant with both the facts and the applicable legal framework.
“In recognition of their commitment, and in response to prevailing economic realities, the Corporation has reviewed the commission structure for debt recovery agents and partners across the board. Together, we remain confident that we will continue to achieve significant success in our recovery efforts,” he said.
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