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CBN Lacks Powers to Order MTN to Refund $8.1Bn- ATCON

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Association of Telecoms Companies of Nigeria (ATCON) has said that the Central Bank of Nigeria (CBN), has no powers to order MTN Nigeria to refund $8.1billion.

 

ATCON said that the cash in question belongs to MTN in the first place and wondered what the CBN wants to achieve by its order.

 

Recall that the CBN accused MTN of untidy business transactions involving alleged repatriation of $8.1billion which it ordered the carrier to refund, while the Office of the Attorney General of the Federation has also issued demand notice of $2billion unpaid taxes over a 10-year period to the telco.

 

Four local lenders alleged to have facilitated the repatriation were also sanctioned by the apex bank but MTN has strongly denied both allegations, adding that it had the clearance of the apex bank and a clean bill of record with the tax authorities.

 

But Oulsola Teniola, president, ATCON, said the industry does not understand what the CBN intends to achieve by the directive to an operator on which it has no regulatory oversight.

 

He said: “It is very important to note that the figure referred to has almost been fully paid by MTN and that the $8.1billion doesn’t belong to CBN but belongs to MTN. So, on this basis, it is hard to understand  what CBN seeks (to achieve) by its demands on MTN that it doesn’t have regulatory oversight over.”

 

On how the logjam could be resolved, he said dialogue and transparency would do the magic.

 

“Clarity, transparency and continued dialogue among  CBN, the banks and MTN to amicably resolve this matter in the interest of the wider stakeholder community, especially, potential investors closely watching developments on this issue.

 

“At the moment, processing of CCIs (Certificate of Capital Importation) is shrouded in confusion in what should be a relatively straight forward process in between the banks and CBN their regulator.

 

According to him, there is no likelihood that MTN refund such huge cash because of its timing.

 

He said: “A refund is very unlikely. The size of the demand and timing is unreasonable and not in the interest of the country. After all, the Naira equivalent will have to be returned to MTN Nigeria. It is then an interesting situation that this seeks to redress events that occurred when CBN had full oversight and approved the transactions. How do they intend to do that?”

 

According to Teniola, the matter should be between the banks and the apex bank and not necessarily the banks’ customers (MTN).

“This I believe is a matter that should be in between the banks and CBN and not the client of the banks. NCC may decide to intervene if events unfold that threaten the survival of MTN and the telecom industry that they regulate. For now, it is too early to see which way this will take,” he said, adding, however, that he is not in an official capacity or position to quantify or qualify the impact of the development to corporate brand of the telco.

 

“I fully believe MTN will continue to engage with the relevant authorities to resolve this latest setback,” Teniola said.

 

CBN, had in a letter to MTN, said its investigation revealed that the shareholders of the telco invested $402,590,261.03 in the company from 2001 to 2006, which was carried out through the inflow of foreign currency cash transfers and equipment importation, as evidenced by the CCIs issued by Standard Chartered Bank (SCB), Citi Bank (CB) and Diamond Bank (DB);  and the CCIs issued at the time of the investment by the above banks to MTN for $402,590,261.03 showed that $59,436,923.44 was invested as shareholders’ loan and $343,153,339.56 as equity.

 

“However, a review of your organisation’s financial statements for the year ended December 31, 2007 revealed that $399,594,146.00 was recorded/invested as shareholders’ loan and $2,996,117 as equity investment, in accordance with the shareholder’s agreement but contrary to the CCIs issued by the banks

 


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Telecom

NCC Blames Growing Data Demand Network Quality Issues

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Nigerian Communications Commission (NCC) has linked Quality of Service (QoS) challenges across telecom networks to rising data consumption, stating that operators are ramping up efforts to sustain investments to improve coverage and capacity.

NCC Blames Growing Data Demand Network Quality Issues

Dr Aminu Maida, executive vice chairman, NCC,

Dr Aminu Maida, executive vice chairman, NCC, stated this during a breakfast meeting with the media in Abuja on Friday, where he noted that while service quality is improving, it is yet to meet regulatory expectations.

He said recent data shows positive signals from independent user-based measurements, indicating that network performance is getting better rather than deteriorating.

However, he explained that increased usage is offsetting gains, creating a cycle where improved services trigger higher demand, which in turn puts fresh pressure on infrastructure.

“We’re still not where we want to be, but are we satisfied as a regulator? I would say within the context for which we operate, I think the area of satisfaction is the fact that we’re beginning to see the right signals. But at the same time, we also see a rise in consumption. So it’s like a cycle. As they’re making investments and making upgrades, people are consuming more,” he said.

Maida disclosed that data consumption has risen by about 170 per cent in the last two years, describing the surge as a major factor behind network strain.

The EVC added that operators are responding with increased investments, with site upgrades expected to rise significantly this year to expand both coverage and capacity.

He also highlighted regulatory efforts to improve industry sustainability, including ongoing policy reviews, cybersecurity framework implementation, and collaboration with security agencies to protect telecom infrastructure.

 

 


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FG Pushes Digital Economy Bill to Fast-Track AI, Cloud Adoption

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Nigeria’s drive toward a fully digital economy is gathering pace as the Federal Government intensifies work on e-governance and digital economy bill to strengthen the regulatory framework for emerging technologies and boost public sector innovation.

FG Pushes Digital Economy Bill to Fast-Track AI, Cloud Adoption

The Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa Abdullahi, CCIE, represented the Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, at the Global Partnership for Human-Centric ICT Standardisation (GIST) Nigeria Introductory Stakeholder Workshop in Abuja.

At the Global Partnership for Human-Centric ICT Standardisation (GIST) Nigeria Introductory Stakeholder Workshop in Abuja, the Director-General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa representing the Minister of Communications, Innovation and Digital Economy, Bosun Tijani said the country has moved beyond strategy design to implementation of its national Artificial Intelligence (AI) roadmap.

He noted that the current phase focuses on developing clear guidelines and regulatory frameworks to ensure AI deployment aligns with ethical standards, accountability, and strong safeguards.

As part of the broader digital transformation agenda, the government is also advancing data classification efforts to ensure the availability of clean, reliable datasets for AI training. In parallel, it is promoting cloud adoption across public institutions to enhance efficiency, scalability, and service delivery.

Inuwa stressed the importance of a “cloud-first” policy, warning that continued dependence on premise systems could slow large scale digital transformation. However, he added that cloud integration would be approached cautiously to safeguard Nigeria’s digital sovereignty and protect critical national data.

Progress is also being recorded in the e-governance space, with the development of an interoperability framework and the Nigerian Government Enterprise Architecture. Additionally, work is ongoing on a data exchange platform to support Government Statistics Digital Public Infrastructure (DPI), aimed at improving data sharing and coordination among Ministries, Departments, and Agencies (MDAs).

The initiative is expected to harmonise public sector digital projects while creating opportunities for private sector participation.

Inuwa stressed the need for stronger collaboration among government, industry, and other stakeholders to build resilient digital infrastructure. He expressed confidence that the proposed legislation and related initiatives would enhance Nigeria’s standing in digital governance while promoting innovation, transparency, and inclusive growth.

Earlier, the European Commission’s Team Leader for Digital Governance, Peter Marien DG INTPA, highlighted the role of international cooperation in shaping global digital standards. He said the European Union’s digital strategy prioritises partnerships and ecosystem alignment across regions, including Nigeria and the United Kingdom.

Marien referenced a recent engagement in Brussels on e-governance, organised with Smart Africa, which included participation from NITDA. He described Nigeria’s involvement in the GIST initiative as a strong signal of its commitment to global digital governance.

He emphasised the EU’s focus on a human-centric digital ecosystem that prioritises inclusivity, privacy, and security, noting that its 27 member states have, over two decades, built a cohesive digital framework centred on citizens.

Marien also identified Nigeria as a strategic player in Africa’s quest for a unified digital market, highlighting its role in advancing cross-border digital integration.

According to him, standards serve as the “invisible backbone” of modern societies, supporting critical systems across sectors. He said the GIST platform enables alignment of technical standards and fosters knowledge exchange between regions.


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How Nigerians Are Secretly Using AI to Master Creative Skills Fast

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Google has revealed new insights showing that Nigerians are increasingly leveraging Search and artificial intelligence tools to develop creative skills and explore artistic pursuits in 2026.

How Nigerians Are Secretly Using AI to Master Creative Skills Fast

Google AI

According to the latest trends for March, there is a growing shift toward using technology as a practical assistant for personal growth, learning and creative expression across the country.

Nigeria’s longstanding reputation as a creative powerhouse continues to shape this trend. From the global dominance of Afrobeats to the rise of Nollywood—now ranked as the fifth-largest film industry globally—the country’s cultural influence remains strong. Industry data shows Nollywood’s value is approaching $8 billion, with over 70 per cent of viewership for Nigerian-produced content coming from international audiences. Similarly, Afrobeats continues its global surge, recording more than 13 billion streams annually on platforms like Spotify.

Google’s data indicates that Nigerians are deliberately using digital tools to sharpen their creative abilities. Interest in learning painting has surged by 90 per cent over the past year, while calligraphy has emerged as a breakout trend, reflecting new forms of artistic exploration.

Music-related learning is also on the rise, with searches for guitar lessons increasing by 80 per cent. At the same time, users are exploring emerging AI-powered tools such as Lyria 3, highlighting a blend of creativity and advanced technology.

Beyond the arts, Nigerians are turning to digital tools to broaden global connections. Interest in learning Italian has jumped by 130 per cent, while searches for Japanese language learning have doubled within the past year.

This growing appetite for digital learning is supported by Nigeria’s expanding tech-driven economy. Research by Public First suggests that every dollar invested in digital technology generates more than eight dollars in economic value. The ICT sector has also emerged as a key contributor, accounting for over 16 per cent of the country’s real GDP.

Students and families are equally tapping into AI-powered tools for education. Searches for AI tutors have become a breakout trend, while interest in combining AI with subjects like chemistry has doubled over the past year. Homework-related searches have also risen by 70 per cent.

These developments are being bolstered by improved digital infrastructure, including projects such as the Equiano subsea cable, which significantly increases internet capacity and connectivity across the region.

Commenting on the trend, Taiwo Kola-Ogunlade said it is encouraging to see Nigerians using AI creatively to unlock new opportunities.

He noted that the rise in creative arts and language learning reflects a population actively shaping its future with technology, using AI tools as “24/7 tutors” to build skills and connect globally.

Google added that tools such as Search and Workspace are already delivering measurable productivity gains, with Nigerian knowledge workers saving over 22 million hours weekly—equivalent to an estimated $4.7 billion boost in productivity.

The surge in AI literacy, which has grown by 840 per cent, further underscores a broader shift as Nigerians increasingly integrate technology into their creative, academic and professional lives.


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