Telecom
ATCON Says Increased Broadband Helps Banking Grow Customers by 23%
One of the sectors that Broadband has impacted is the banking sector as the sector can now boast of 23% bank account penetration, said Olusola Teniola, president, Association of Telecommunication Companies of Nigeria (ATCON).
Speaking during Businessday Media Broadband Summit 2017 held in Lagos, Teniola who spoke on the topic, ‘The Impact of Broadband on Nigeria Economy: Citing Best Practices’, said that through 107% telephone and 55% internet penetration, the banking sector has been hugely impacted by increased broadband penetration in the country.
He said, globally, including Africa, telecommunications infrastructure is at the heart of any global business in the modern age.
From data security and data resilience requirements, through cloud connectivity issues, to low latency and time-based stamping in trading transactions, robust, reliable and resilient networks are critical.
“Today, telecommunications operators are increasingly seeking to expand customer-specific and value-added services (such as combining connectivity with application services) to retain relevancy and protect against margin erosion”, he said.
Teniola quoting DLA piper, said, at the same time, the growth of OTT (Over-the-Top) applications raises novel regulatory questions because service providers, many of whom have no infrastructure and often no physical presence at all in a country, can nevertheless use licensed operators’ infrastructure in that country to provide services
“Two of the largest ICT markets in Africa – Nigeria and South Africa – adopted broadband policies and plans in 2013, to much international acclaim.
“Implementation in these two countries has however stalled; both identified open access as an instrument to drive broadband penetration.
“While the acclaimed broadband plans of the two countries envisaged open access as a key instrument in delivering affordable, high speed broadband services to fulfil their economic and developmental potentials, in neither of the countries has the mandatory open access broadband strategy been successfully implemented within the four years since the plans were passed. Furthermore, the failure to establish functional open access or public ownership models, or to continue to enable or encourage commercial operators to expand and upgrade their networks and services, has resulted in neither country meeting their ambitious broadband targets to date”.
He lamented that the recent launch of 4G technologies by new/late entrants and the eco-system created is now threatened by several factors such as inflation, multiple taxation, Multiple FOREX windows creates uncertainty, among others.
He, however, said that the industry has confident other sectors like agriculture, insurance, health, food and beverages, etc can be turned around if all they adopt digitalization, the same way the banking sector got transformed through the infusion of ICT in their service delivery process.
“Broadband will create employment in various sectors, the one important part of this is the employment of our Youth and the support of Local Content within the ICT industry. NCC’s active support of ONC going forward is sought as a platform for the contribution of our burgeoning youth”, he said.
News
NITDA Communications Director Hadiza Umar Named in 2026 PR Power List, Graces Glazia Magazine Cover
Mrs. Hadiza Umar, Director of the Corporate Communications and Media Relations Department at the National Information Technology Development Agency (NITDA), has been officially recognised as one of Nigeria’s top public relations professionals in the prestigious 2026 PR Power List.
The definitive annual list, compiled by GLG Communications in partnership with The Guardian, was unveiled to commemorate World PR Day.
It celebrates 50 outstanding professionals within Nigeria and the diaspora whose strategic communication strategies have significantly shaped organisations, influenced public discourse, and advanced the profession over the past 12 months.
Adding to the momentous milestone, Mrs. Umar was hit with a major surprise at the exclusive PR Power List Soirée and Awards ceremony held at the Alliance Française in Ikoyi, Lagos, where she was unveiled as a front-cover personality for the Glazia Magazine PR Power List Special Issue.
The double recognition highlights her exceptional distinction and impact in public sector communications and narrative management.
Speaking on the dual achievement, Mrs. Umar expressed profound gratitude for the honours, describing the magazine cover appearance as a breathtaking surprise.
“I am deeply humbled and honored to be recognized on the 2026 PR Power List and to feature on the cover of Glazia Magazine alongside other exceptional industry titans,” Umar said.
“This milestone is a testament to the enabling environment and visionary leadership of the Director General of NITDA, Kashifu Inuwa Abdullahi, CCIE, which has allowed us to strategically drive the narrative of Nigeria’s digital economy and technological innovation.”
Mrs. Umar, a highly respected corporate communications strategist, holds professional fellowships in the Nigerian Institute of Public Relations (Chartered), the African Public Relations Association (APRA), and the Institute of Corporate Administration (CICA).
Under her supervisory role, NITDA’s media relations have consistently projected national information technology frameworks, start-up support frameworks, and digital literacy initiatives, to position Nigeria competitively on the global stage.
The 2026 PR Power List selection process involved a rigorous, independent evaluation led by a distinguished international jury.
The organisers noted that the class of 2026 represents professionals raising the standard of strategic communications and introducing new ideas to the industry.
The need for Nigeria to think outside the box in its need to drive towards global relevance with innovations and scientific developments will be on the front burner at the NITRA Innovative & Scientific Conference scheduled to hold on Thursday July 23, 2026 in Ikeja, Lagos.
NITRA
The Nigerian Communications Commission (NCC) will lead other delegates to discuss and take far-reaching decisions at the event, which has its theme as “Bridging Nigeria’s Digital Divide With Scientific Innovation”.
Other companies that have indicated interest in partnering with NITRA include mobile communications company, Tecno; Africa’s premier end-to-end AI solutions company, Hyperspace; and telecommunications data infrastructure company, Digital Realty.
Speaking on the proposed event, the Chairman, Nigeria Information Technology Reporters Association (NITRA), Chike Onwuegbuchi noted that the event will seek to create a platform for government and private organisations to deliberate on policies around scientific innovations in Nigeria, challenges, place of indigenous and foreign collaboration, roles of each stakeholder, and grassroots development in that regard, among others.
According to him: “The Federal government, with series of programmes and partnerships, has established the urgent need to create an ecosystem that thrives on scientific innovation, breeding institutions and individuals with a target of placing the country at the fore-front of Next-Gen development.
It is a known fact that digital and scientific innovations are crucial, not only to the survivability of a nation, but also to the sustainability of its growth and development, with significant effect on economic strength, global image, defense and security, government capabilities to function, and public health and safety, communication and digital footprint, among others.
The federal government is actively driving scientific innovation to foster economic diversification and build a $1 trillion economy by 2030. Efforts are heavily focused on commercializing research, establishing massive research funds, and funding strategic infrastructure, particularly in technology, biotechnology, and healthcare. Core government initiatives and policies include the newly instituted National Research and Innovation Development Fund (NRIDF), which aims to mobilize about $500 million annually to support research and the commercialization of scientific outputs; and the Nigeria Genomic City, a multi-ministerial initiative aimed at transforming Nigeria into a leading hub for genomics, precision medicine, and biotechnology. It is designed to protect indigenous data, stimulate artificial intelligence in health, and develop a highly skilled scientific workforce.
According to the General Secretary of NITRA, Mr. Chidiebere Nwankwo, the forum will also be a vehicle to propagating the views of decision makers to the public, thereby furthering the cause of public awareness and information dissemination on the topic.
The focus, he said will be on how Nigeria can sustain digital innovative growth and scientific development in Nigeria
The board of global payments company, PayPal, says a 53 billion dollars takeover offer from financial technology firm, Stripe, and private equity company, Advent International, does not adequately reflect the company’s long-term value.
PayPal
According to reports, the proposed acquisition, valued at 60.50 dollars per share, remains under consideration, with the board yet to formally respond to the offer.
The directors are said to be evaluating not only the financial value of the proposal but also the structure of the financing, the timeline for completing the transaction and the likelihood of obtaining regulatory approvals.
They are also considering the possibility of competing bids emerging.
Although the offer represents a premium of about 28 per cent above PayPal’s recent share price, the board believes the company could deliver greater value to shareholders if its ongoing turnaround strategy succeeds.
Following reports of the bid, PayPal shares gained about two per cent to close at 56.73 dollars.
Sources familiar with the discussions said Stripe and Advent have secured approximately 50 billion dollars in debt financing from JPMorgan and Morgan Stanley, while both firms would jointly contribute 17 billion dollars in equity.
Under the proposal, the two companies would jointly own PayPal instead of dividing its operations.
PayPal, Stripe, Advent International, JPMorgan and Morgan Stanley have all declined to comment on the proposed transaction.
The discussions come as PayPal seeks to strengthen its business after years of increasing competition from rivals including Apple Pay, Google Pay and emerging financial technology firms.
The company, which was valued at about 360 billion dollars in 2021, now has a market capitalisation of approximately 36 billion dollars.
Since assuming office as Chief Executive Officer in March 2026, Enrique Lores has embarked on a restructuring programme aimed at improving operational efficiency and restoring growth.
The restructuring includes the creation of three business divisions comprising Checkout, Venmo and Consumer Financial Services, and Payments and Crypto.
The company is also targeting 1.5 billion dollars in cost savings through the deployment of artificial intelligence technologies.
PayPal’s latest financial results indicated signs of recovery, with first-quarter revenue rising seven per cent year-on-year to 8.35 billion dollars, while total payment volume increased by eight per cent to 464 billion dollars.
If approved, the transaction would combine two of the world’s largest digital payments companies.
The combined business would process an estimated 3.7 trillion dollars in annual payment volume, significantly strengthening its position in the global online payments market.
However, analysts expect the proposed acquisition to face intense regulatory scrutiny because of the companies’ combined market share in merchant payment services.
To address possible antitrust concerns, the bidders have reportedly considered options, including separating PayPal’s Braintree business or other assets if required by regulators.
Sources said Stripe and Advent remain interested in pursuing the acquisition despite the board’s reservations, although negotiations are expected to continue.
Market observers are also awaiting PayPal’s earnings report scheduled for July 28 for further indications of the company’s financial recovery and future growth prospects.
Adebutu, PDP Chieftain Accuses Nigerian Governors of Embezzling LG Allocations
ICPC Secures Final Forfeiture of N941m Linked to IPPIS Fraud
NDIC Urges Youths to Shun Ponzi Schemes, Embrace Savings
NRS Issues July 31 Deadline for e-Invoicing Compliance
SERAP to Sue NASS over Bill Empowering NDPC to Regulate Social Media
NRC, Ponzi Scheme Collapses Resulting Loss of Billions of Naira
NASENI Moves to Digitize CCB’s 5m Assets Declaration and Operations
Lebara Nigeria Launches Lebara Play, Africa’s First Telecom-Owned Micro-Drama Platform
CANAL+ Partners Samsung to Pre-Load DStv Stream on New Samsung TVs In Nigeria, Other African Countries
Tokenization, Blockchain Technology will Transform Financial Institutions – IMF
News3 days agoEFCC Busts NIS Visa Overstay Racket, Uncovers N700m in an Account
News3 days agoNCC, NDLEA Partner to Fight Piracy and Drug Trafficking
General News3 days agoDangote Refinery’s Private Placement Reportedly Hits $2.5Bn
Telecom3 days agoTinubu Moves to Protect Nigerians From Crypto Scams With New Executive Order
Telecom3 days agoNCC Leads Tecno, Hyperspace, Digital Realty To NITRA Forum On Scientific Innovation
E-Financial3 days agoCBN to Monitor Every Dollar with FXBT, Forex Tracker
Telecom3 days agoPayPal Rejects $53bn Stripe-Advent Takeover Bid, Says Offer Undervalues Company
E-Financial3 days agoFG Moves to Crack Down on Crypto Fraud with Virtual Assets Executive Order