News
CBN Grills Applicants, Prepares to Issue MMT Licenses

It is all coming together now as the Central Bank of Nigeria (CBN) prepares to issue the first set of licenses to mobile money providers that would provide services to the under-banked and under served segments of the country, Nigeria CommunicationsWeek can now reveal.
There were flurry of activities at the apex bank at the weekend as applicants besieged the CBN in Abuja to tidy their documentations.
The applicants met with official s of the apex bank and defended their proposals which cover technical, financial projections, risk management and settlement issues that must be surmounted before licenses are granted.
Nigeria CommunicationsWeek gathered that risk management and settlement issues seem to be high on the agenda of the CBN.
Some of the applicants who shared some insights with us were however not forthcoming on license announcement dates.
Abayomi Atoloye, director Banking Operations, CBN had in an earlier interview with this newspaper said that no operator was licensed yet for mobile money services.
He said the apex bank will soon start issuing licenses to operators who are expected to leverage on the ubiquity of the mobile phone and the interoperability of the technology to provide easy to use and secure mechanism for millions of people nationwide.
The apex bank had in June 2009 released the mobile payment guidelines and the general misconception is that one or two operators have the license and are yet to activate their services.
What can however be confirmed is that some bank-led consortia like UBA, Stanbic IBTC, First Bank and others are in the provisional list to be released by the CBN .
Elsewhere, independent led model like Cash 2 Card, Easi Pay and Mtech are also on the list.
Already, Moneybox Africa, a licenced mobile banking provider recently launched services in Lagos.
With the license, a mobile payment provider can provide mobile banking, payment and associated services using agent networks and using the mobile phone as a means of authentication.
Nigeria CommunicationsWeek gathered that the CBN is very keen to licence providers in Nigeria where millions are excluded from formal financial services.
But most of the potential players are still skeptical about the role of mobile network operators and access to their network resources.
Emmanuel Okoegwale, of MobileMoneyAfrica explained that though the fears are genuine efforts are being made to address.
He said that some of the initiatives are the third party regulatory framework which Nigeria Communications Commission (NCC) is party to.
According to him, this will address the fears of stakeholders with Mobile Network Operators (MNO’s) since NCC can enforce certain aspects of the regulatory document where the CBN is hamstrung.
Okoegwale also said major issues like Unstructured Supplementary Services Data (USSD) access, generally associated with real-time or instant messaging type phone services, will be sorted out in the next few months by Clickatell
Nigeria CommunicationsWeek gathered that Nigeria is at the threshold of Mobile Money Transfer and Payment, a new revolution that is potentially more profound than the arrival of mobile phones in the country but this time sweeping and exponential.
Hailed as the next big bang, mobile payment industry will change the way consumers interact with financial services and make payments and the major plank will be the mobile phone.
With only 22 million bank accounts and less than10, 000 bank branches for 140 million citizens, mobile payments will reach over 80 million mobile phone holders and million others that do not have access to formal financial services in urban and rural areas.
News
Google, UpSkill Universe Relaunch Hustle Academy to Bring Free AI Skills to Africans

Google and UpSkill Universe, Sub-Saharan Africa’s leading AI and business skills training partner, have announced a major redesign of the Google Hustle Academy programme.

For the first time, the free training initiative is open to everyone, not just business owners. The new curriculum is focused on equipping individuals and entrepreneurs with practical AI skills.
Small businesses are the engine of Africa’s economy, creating over 80% of jobs on the continent. To help them grow, the Hustle Academy was launched in 2022, providing bootcamp-style training on business strategy, digital skills, AI, and leadership. The program has since trained over 18,000 SMEs, with many reporting increased revenue and job creation.
Now, as AI reshapes the job market, the program is evolving. The 2026 edition is built for anyone in Sub-Saharan Africa, including employees, students, and jobseekers, who wants to use AI to advance their career.
To meet the needs of a diverse audience, the new format includes short, 60-minute webinars and more immersive, high-impact bootcamps. These sessions are laser-focused on putting AI to work immediately in areas like digital commerce, marketing, and growth strategy.
Speaking about the academy, Gori Yahaya, Founder & CEO UpSkill Universe said “The 2026 Hustle Academy is designed to close the AI Skills gap with hands-on training that is short, focused, and immediately useful. AI is reshaping how businesses win and how careers are built, right across this continent.
“We’re excited to renew our partnership, now in its fifth year with Google, combining their global AI leadership with our deep regional AI expertise. The next wave of AI leaders will come from this continent. We are making sure they are ready.”
The Hustle Academy initiative has strengthened digital competitiveness across emerging African economies by enabling SMEs to move beyond AI awareness to practical implementation, positioning them for sustained growth in an increasingly AI-driven business environment.
“We believe that the future of Africa’s digital economy lies in the hands of individuals and entrepreneurs alike. Our new strategy focuses on scaling reach by training individuals in the latest AI-centered tools and techniques,” said a Google representative.
News
Lagos Govt Drags Top Firms to Court Over Billion-Naira Tax Debts

Lagos State has dragged 45 individuals and firms, including Bi-Courtney Aviation, DAAR Communications and Leaders & Company, to revenue court for tax debts running into billions of naira.

Lagos Govt
Bi-Courtney, operators of Murtala Muhammed Airport Terminal Two, faces N38.7 million claim; DAAR, behind Africa Independent Television, owes N22.4 million; ThisDay publishers Leaders & Company allegedly skip N67.1 million.
GMT Energy Resources tops corporates at N145.8 million, followed by Sheriff Deputies at N132.1 million; others like Heyden Petroleum, AA Rescue, BRT operator Primero also listed.
Individuals owe N13.5 million to N35 million each.
Attorney-General Lawal Pedro said suits followed ignored notices, aiming to enforce laws and fund infrastructure.
More defendants: IENG Nigeria, James Fisher, V Care Diagnostics, Venture Garden, Saro Africa, Barry Callebaut, Native Media, First Consulting, Eyowo Payments.
Compliant taxpayers post-notice escaped prosecution; defaulters risk penalties, interest, jail.
Pedro urged prompt filings and payments.
News
Beware of Fake Cerelac Products – NAFDAC

National Agency for Food and Drug Administration and Control (NAFDAC) has alerted Nigerians on counterfeit and unregistered Cerelac Mixed Fruits and Wheat products being sold in Lagos.

NAFDAC said Nestle Nigeria, the genuine Marketing Authorisation Holder of the product, received a complaint of suspected counterfeit purportedly manufactured by Nestlé Spain, bearing Batch Code 308002910.
It said that Nestle Nigeria reported that the complainant described that the counterfeit product emitted an odour suggestive of possible contact with fuel.
NAFDAC said that preliminary review of the product by Nestle Nigeria indicated that it had expired, in spite of the container displaying an expiry date of 10-2026, which suggested that the date coding had been tampered with (revalidated).
Nestle Cerelac Mixed Fruits and Wheat is a nutritious infant cereal, designed to be a delicious first food for infants.
NAFDAC said that its post-marketing surveillance’s directorate officers in Lagos conducted a surveillance visit to Maxland Shopping Centre, 193 Ago Palace, Okota, where the product was purchased by the complainant.
It added that the suspected counterfeit and unregistered Cerelac were found on sale at the premises and subsequently mopped up, while Nestle assisted in identifying the distinguishing features between registered and unregistered product.
According to the regulatory agency, Nestle revealed that the unregistered product used a hyphen (-) to separate the day from the year, while the registered product used a slash (/) to separate the day from the year.
“It is important to note that Nestle Nigeria is not aware of the channels through which the products are supplied into the country.
“Healthcare professionals and consumers are advised to report any suspicion of the sale of substandard and falsified regulated products to the nearest NAFDAC office, call 0800-162-3322, or send an email to [email protected],” NAFDAC said.
The agency warned that counterfeit formula often lacked essential nutrients, vitamins and minerals, leading to stunted growth or developmental issues.
It said that such formula might also contain contaminants that might lead to severe health consequences to infants or even death.
NAFDAC reiterated its commitment to safeguarding public health adding that it would continue surveillance activities to ensure the quality, safety, and efficacy of all NAFDAC-regulated products circulating in Nigeria.
It said that all zonal directors of the agency and state coordinators had been directed to carry out surveillance and mop up the revalidated product, if found within the zones and states.
The agency urged distributors, retailers, healthcare professionals, and caregivers to exercise caution and vigilance within the supply chain, to avoid the distribution, sale, and use of fake products.
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