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Banks Fail to Remit Funds as USSD Debt Reaches N120Bn

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The Unstructured Supplementary Service Data (USSD) platform is experiencing an extensive crisis, and although talks between the banks and telecommunications operators are ongoing at the regulatory level to find a cooperative solution, the service providers claimed that the debts owed them by defaulting banks have reached N120 billion.

Banks Fail to Remit Funds as USSD Debt Reaches N120Bn

Bizwatchnigeria.ng reported that some N100 billion in indebtedness as of the first quarter of 2023.

However, despite the fact that the amount still owing has increased by N20 billion, the Association of Licensed Telecoms Operators of Nigeria (ALTON) claimed that the banks are still withholding remittances.

Gbenga Adebayo, chairman, ALTON, stated that the company’s debt had reached N120 billion, who verified that there had been regulatory-level conversation, stated: “Discussions are ongoing, and there has been very high-level regulatory intervention by the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC).

While some banks are making payments, others appear to be holding off until the service is discontinued in an effort to test our persistence in getting them to do so.”

“We would temporarily stop providing USSD service to debtor banks if the CBN/NCC intervention fails. No industry can endure the amount of the mounting debt, which is currently in the neighborhood of N120 billion, He said.

“Because these are services for which money has been taken from their customers, the banks have a moral obligation.” The Ministry of Communications and Digital Economy, CBN, and NCC had underlined that starting on March 16, 2021, USSD services would be taxed at a flat rate of N6.98k per transaction, despite the fact that the crisis has been ongoing for more than five years.

According to the agreement, banks would not charge customers extra fees for using the USSD channel and would instead collect the new USSD fees directly from customers on behalf of mobile network operators (MNOs).

A typical USSD session, which lasted for 20 seconds, had a pricing cap set at $4.98 for each session prior to the N6.98k per transaction regime.

When the N6.98k problem reached a breaking point, NCC and CBN issued a joint statement that said: “This replaces the current per session billing system, providing a considerably cheaper average cost for subscribers to improve financial inclusion. This method is open and will guarantee that the sum stays the same regardless of how many sessions are involved in a single transaction.

While ePayment transactions reached N49.48 trillion in March, service quality difficulties in the area continue unabatedly and pose a threat to the sector’s successes.

Investigation by bizwatchnigeria.ng revealed that customers are still dissatisfied with the bank apps and USSD platforms they use to access services, which they complained were frequently very slow and unresponsive.

Due to this problem, many clients now swarm the banking halls virtually every day to voice their objections. Kehinde Alesh, a Zenith Bank client, revealed that the bank’s app was unresponsive last week. “We were unable to use the banking app for over two days. Even more shocking, the app crashed. Many transactions are still pending. The Central Bank of Nigeria must take action on this issue, He stated.

Banks must make greater infrastructure investments! The software is sluggish, and USSD transactions don’t work. To witness the crowd, you ought to have been at the bank. Just annoying, really. Before the sector collapses, the CBN needs to move quickly.

In addition to the demand for the availability of the new notes, Gabriel Okeowo, Country Director of BudgiT Foundation Nigeria, recently discussed the bank’s IT infrastructure.

If the old Naira notes are what are now in use, even the new Naira notes cannot be purchased. Additionally, as we speak, the lines are still present, electronic transactions are still declining, and money is typically not refunded within 24 hours.

“In addition, the Internet infrastructure is not sufficiently developed to support efficient electronic transactions. I see a potential of extending the deadline for the usage of old naira.

 

 

 

 


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Airtel Africa Foundation Celebrates International Volunteer Day, Honours Employee Volunteers

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Airtel Africa Foundation, through Airtel Nigeria, has marked International Volunteer Day 2025 by celebrating the impact of the Employee Volunteer Programme (EVP), a flagship initiative by which employees volunteer their time, expertise, and personal resources to advancing the Foundation’s mission across 14 African markets.

The celebration brought together volunteers at the Airtel Nigeria Headquarters in Lagos for moments of team bonding activities, testimonials, and volunteer spotlights. The event also served as a call to action, encouraging more employees to register for EVP activities and join the volunteer community.

The EVP has become a cornerstone of Airtel Africa Foundation’s community impact, empowering employees to drive local CSR initiatives and champion causes that promote education, digital skills, environmental responsibility, and youth empowerment. Through the programme, volunteers have contributed significantly to initiatives such as the International Day of Education Essay Competition, Teacher-for-a-Day sessions, beach clean-ups, market sensitisation exercises to reduce plastic waste, and the Airtel-3MTT NextGen Fellowship for young Nigerians.

Speaking about the celebration, Dinesh Balsingh, Airtel Nigeria Chief Executive Officer, said, “International Volunteer Day reminds us that real impact begins with people who are willing to show up and serve. Today we honour the incredible dedication of Airtel employees, whose selfless commitment of time and talent is the engine behind our progress. Their contribution is the backbone of our work and the reason we continue to transform communities across Africa.”

Over the years, the EVP in Nigeria has delivered tangible outcomes through numerous impactful initiatives such as financial donations to the Lagos State Government COVID-19 control efforts. In 2025 alone, volunteers have contributed more than 200 hours of service, reaching over 100,000 beneficiaries.

Commenting on the commitment of Airtel Nigeria’s employees, Femi Adeniran, Director, Corporate Communications & CSR, said, Volunteering is at the heart of who we are. Behind every empowered learner, every restored environment, and every connected community is an individual who believed in making a difference, and we are thankful for your participation. Our mission remains clear: to use technology, resources, and our collective humanity to build a digitally inclusive, socially responsible, and sustainable Africa.”

International Volunteer Day provides a global moment to honour volunteers whose contributions often go unseen but deliver lasting impact. As its EVP continues to grow, Airtel Africa Foundation remains committed to expanding access to education, digital literacy, environmental care, and opportunities for underserved communities across the continent.


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Nigeria Dominates 2025 TikTok Sub-Saharan Africa Awards with Six Wins

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Nigerian creators have emerged dominant at the 2025 TikTok Awards for Sub-Saharan Africa, winning six of the ten categories at the ceremony held in Johannesburg, South Africa.

Nigeria Dominates 2025 TikTok Sub-Saharan Africa Awards with Six Wins

TikTok Sub-Saharan Africa Awards

The awards, themed “New Era, New Icons”, celebrated outstanding creativity across the continent, with Nigeria’s victories underscoring its growing influence in digital culture and entertainment.

Raja’atu Muhammed Ibrahim, known as @diaryofanortherncook, from Sokoto, won the prestigious Creator of the Year Award, recognised for her cinematic storytelling of Northern Nigerian cuisine. Abuja-based Brian Nwana (@briannwana) clinched Storyteller of the Year, while Izzi Boye (@izziboye) was named Education Creator of the Year.

Other Nigerian winners included Belove Olocha (@beloveolocha) for Entertainment Creator of the Year, Dejoke Ogunbiyi (@noositiwantiwa_) for Social Impact Creator of the Year, and Crown Uzama, popularly known as Shallipopi (@theycallmeshallipopipp), who took home Artist of the Year.

Shallipopi, whose hit track “Laho” dominated African soundwaves in 2025, thanked TikTok for supporting upcoming artists and providing a platform to shine. “When Nigeria creates, the world moves,” he told fans during his acceptance speech.

TikTok’s Head of Content Operations for Sub-Saharan Africa, Boniswa Sidwaba, praised the winners, noting that Nigerian creators had redefined what it means to be a digital storyteller. “Tonight’s ceremony was a gathering of trailblazers who turned short video clips into cultural movements,” she said.

Other winners from across the continent included Tanzania’s Fanuel John Masamaki (@zerobrainer0), who won Video of the Year, Kenya’s @tunero_animations as Rising Star of the Year, South Africa’s @malumfoodie for Food Creator of the Year, and Kenya’s @zozasportscast for Sports Creator of the Year.

The ceremony, supported by brands such as NIVEA, Coca-Cola, PEP, inDrive and Dis-Chem, will be broadcast exclusively on TikTok LIVE on Dec. 11 at 19:00 WAT via the @tiktok.africa account.


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MTN Nigeria Announces Winners of the 2025 Nigeria PachiPanda Challenge

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MTN Nigeria has announced the winners of the 2025 Nigeria PachiPanda Challenge, a national innovation programme delivered in partnership with Worldwide Fund for Nature (WWF) through its local partner, the Nigerian Conservation Foundation (NCF), and the United Nations Development Programme (UNDP) Nigeria.

MTN Nigeria Announces Winners of the 2025 Nigeria PachiPanda Challenge

L – R: Promise Ogochukwu, OneGrid Energies; Emmanuel Ezea, OneGrid Energies, Lantana Elhassan, Head of Exploration, Accelerator Lab, UNDP Nigeria; Valentine Nnamani, OneGrid Energies; trio winner of the MTN 2025 Pachipanda Challenge, held at MTN RoofTop Plaza, Ikoyi.

The competition attracted over 2000 applications from young innovators across the country and concluded with a 3-day sprint event that featured masterclasses and pitch presentations at the MTN Rooftop Event Centre, Falomo, Ikoyi, Lagos. Ten finalists, comprising seven individuals and three teams, competed for top honours following a rigorous multi-stage screening process.

Team OneGrid Energies emerged overall winner for its solution that addresses energy access in underserved communities. The team of Emmanuel Ezea, Ogochukwu Ogene, and Valentine Nnamani upcycle plastic bottles and e-waste lithium ion batteries to create affordable lanterns for households without reliable electricity. The team also introduced smart solar-powered charging stations operated by rural women, creating economic opportunities and supporting environmental impact.

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.

Divine Peter secured third place with HopeForge Engineering, an initiative that designs and produces affordable recycling equipment for green businesses using recyclable materials. His focus on automating traditional manual equipment aims to increase productivity and make sustainable tools more accessible for small and medium-sized enterpriOlayinkases.

The winners received ₦3,000,000, ₦2,000,000, and ₦1,500,000 respectively. They will now represent Nigeria at the Africa PachiPanda Challenge where they will compete against champions from across the continent.

Tobe Okigbo, Chief Corporate Services and Sustainability Officer at MTN Nigeria, emphasised the importance of youth-led innovation in advancing climate action and community resilience. “Innovation should go beyond solving problems; it should be bankable and sustainable, ensuring long-term value for both society and the innovators themselves,” he noted.

Dr. Joseph Onoja, Director-General of NCF, praised the creativity of the finalists, stating, “Every finalist here is a winner, and we will continue to work with partners like MTN, UNDP, and WWF to nurture these ideas and build a better future for Nigeria.”

Representing UNDP Nigeria, Lantana Elhassan, Head of Exploration, Accelerator Lab, described the potential of the finalists’ solutions to inspire systemic change across Africa’s innovation landscape. She highlighted the role of tech tools in helping participants improve their prototypes and scale their solutions.

During the event week, finalists received tailored training through masterclass sessions that enhance their business skills and strengthened their solutions. Facilitators included Bankole Oloruntoba, CEO, Nigeria Climate Innovation Centre (NCIC); Chinwe Udo-Davis, Founder & CEO, Instollar; Nifemi Oluboyede, Chief Product Officer, Credit Direct; and Uche Aniche, Founder, Rebel Seed Capital & Convener, Startup South.

Judges comprised experts in sustainability and innovation including Dr. Tiwalade Adeniyi, Head of ESG, Solon; Dr. William Tsuma, Chief Innovation Officer, UNDP Nigeria; Maximus Ugwuoke, Country Director, Carbon Craft Africa; Peju Ibekwe, CEO, Sterling One Foundation; Temitope Okunnu, Founder, Fabe International; and Yewande Adeyi, Senior Manager, ESG Advisory Services, KPMG West Africa.

The Africa-wide finals will bring together leading innovators from across the continent to showcase their work to industry experts and investors.

For more information and updates on the winners’ journey, visit https://www.mtn.ng/sustainability or contact [email protected]

 


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