Telecom
Chief Commercial Officer of Itex, Adekunle Adebiyi Highlights Role of Fintech in Financial Inclusion

Adekunle Adebiyi, Chief Commercial Officer at Itex Integrated Services Ltd, spoke extensively on the impact of fintech and Nigeria’s financial inclusion goals, in a recent interview on popular Lagos radio station, Nigeria Info FM.

Adebiyi shed light on the role of fintech in the country’s financial inclusion strategy, and how a focus on rural distribution can help reach more unbanked Nigerians. “Fintechs work with traditional banks to improve the sustainability and accessibility of the services they offer to the public.
“Because of this, distribution is crucial if we are to reach Nigerians without bank accounts. Rural areas, where more unbanked people reside, must become the focus instead of metropolitan and semi-urban areas.
“As a country, we have made progress toward financial inclusion, but if we are to meet our goal, we must use financial technology.”
Rural communities continue to suffer as banks cut operational costs by reducing the number of ATMs and branches, focusing instead on getting more customers to embrace digital banking through smartphones. Yet, 40 percent of adults living in rural areas have no formal bank account and limited smartphone access.
Thankfully, PoS terminals and mobile money agents are increasing, providing financial services and, in some cases, acting as an agent through which the unbanked can open tier 1 bank accounts requiring only passport photographs.
It was important to understand that traditional banking and fintech were both sides of the same coin. “Traditional banking and financial technology are not on either side of the divide; I see a convergence. Fintech is about using technology to enhance the process of financing, making it easier, accessible and sustainable.
For example, Itex has made buying electric bills easier; with a mobile device you can top up and pay for power without leaving the comfort of your home, that’s the effect of financial technology.”
Although Nigeria has the largest economy in Africa and is home to five of Africa’s seven unicorns, its target for financial inclusion as stated in the National Financial Inclusion Strategy (Revised) in 2018 had a goal to reach 80% financial inclusion in the year 2020, but only 64% of Nigerian adults were financially included by the end of 2020.
According to World Bank’s 2021 Global Findex, Nigeria was one of seven nations that contributed to half of the world’s unbanked population. By the end of 2021, the number of financially excluded persons in Nigeria was estimated to be 38 million, even though the gap between banked and unbanked people has been closing since 2011.
These numbers are not surprising given that 47.25 per cent of the Nigerian population live in rural areas and cannot get efficient financial services because most traditional banks do not have extensive branch networks.
However, Nigeria is progressively narrowing the gap between the banked and unbanked, and the Central Bank of Nigeria’s goal for financial inclusion no longer feels like a far-off dream since the rise of fintech and agent banking in the financial sector.
Following the COVID-19 pandemic, digital financial transactions increased by 325 per cent to ₦704.04 trillion in 2020 from ₦165.8 trillion in 2019.
According to NIBSS data as of August 2022, the volume of financial transactions in a month had reached an all-time high, totalling ₦238.7 trillion. Nigerians may support the CBN’s cashless strategy, but that does not necessarily mean that the unbanked have increased access to these financial services. As a result, fintech is crucial in Nigeria’s effort to achieve financial inclusion.
The Central bank of Nigeria has set a target to reach 95 per cent financial inclusion by 2040. With innovations spearheaded by fintech, an increase in mobile money operators, the recent increase in Nigeria’s financial inclusion rate, and collaboration among stakeholders, the projection is not nearly as unachievable as it may have seemed years ago.
Telecom
NCC Orders Telcos Inform Subscribers of Data Breach within 48 Hours

Nigerian Communications Commission (NCC) has directed telecom operators in the country to notify affected customers of any data breach within 48 hours ( that is two day) of detecting such unauthorised infringement.

This directive was contained in the revised Internet Code of Practice 2026 by the NCC, on Friday.
The document seeks to define the rights and obligations of telecom operators in handing the rights of internet users to an open internet.
In the move to protect customer information, Mobile Network Operators (MNOs) and Internet Service Providers (ISPs) are to take necessary measures to protect customers’ data from unauthorised use, disclosure, access or breach.
Telecom operators must now notify affected customers within 48 hours of detecting a compromise through text message, email or any other effective means. As contained in Chapter 3.4 of the regulation titled “Data Breach Notifications,”
The telecoms companies are also directed to notify the NCC of such a breach not later than 48 hours after determining such a breach.
“Where full details of the breach are not immediately available, the provider shall issue a preliminary notification within the same period and furnish a comprehensive update within Fourteen (14) days thereafter, or within such extended period as the Commission may approve,” part of the section reads.
The guidelines, according to NCC, are in tandem with the provisions contained in the Nigerian Data Protection Act 2023 and Part VI of Schedule 1 of the Consumer Code of Practice Regulations 2024.
The regulation also joins other agencies’ policies, ensuring protection. Agencies such as the Nigeria Data Protection Commission (NDPC) and the Federal Competition and Consumer Protection Commission (FCCPC) protect consumers against misuse of personal data, identity theft, financial loss, and reputation damage.
The review comes at a time when privacy becomes core amid frequent breaches and illegal harvest of data such as biometric, national IDs, financial information, traffic and usage, and others.
Regulations are necessary for the proper handling, consent, and regulatory compliance regarding sensitive data, ensuring it is only processed for legitimate purposes.
Under Chapter 3.5, the Internet Code of Practice 2026 addressed the handling of harvesting of transactional data by notifying and getting approval from the NCC of any usage by a third party. It noted that the NCC approval will be defined by a review and assessment of such access and “its potential effects on national considerations, consumer information and personal data.”
Telecom
Globacom Promotes Valentine Gifting with Huge Discounts on Smartphones

Globacom has announced a Valentine Smartphone promotion, which provides incredible savings on a variety of high-end smartphones from top manufacturers including Tecno, Samsung, and Infinix.

Starting on February 9, the promotion provides substantial price reductions on a number of Samsung models, including the Galaxy Z Fold 7, Galaxy A07, Galaxy A56 5G, Galaxy A36 5G, and Galaxy A26 5G. Customers who buy any of the phones will also receive a complimentary travel pouch and charger, as well as up to 18GB of extra data for six months, only available on the Glo network.
Along with other Infinix models, Tecno devices are also offered at attractive discounts, giving customers a large range of smartphones to fit a variety of tastes and price ranges.
The goal of the Glo Valentine promotion is to provide customers with the best possible deals on carefully chosen smartphones that are renowned for their cutting-edge technology, stylish designs, and dependable performance. The offer, which includes alternatives to suit a range of budgets and lifestyles, reaffirms Globacom’s dedication to customer happiness, digital adoption, greater data usage, and client centricity.
The company revealed that the promotion aligned with customers’ expectations during celebratory seasons, when demand is highest for quality smartphones at affordable prices. The company added that its partnership with trusted global and regional brands such as Samsung, Infinix, and Tecno ensures that customers enjoy premium features without compromising on value.
“The Valentine season is about connection, and what better way to stay connected than with a smartphone that fits your needs and aspirations,” the company stated. “This promo gives our customers the chance to get their dream smartphones at some of the best prices of the year, along with generous data bonuses to keep them connected,” the company disclosed.
Customers are encouraged to visit Gloworld outlets nationwide to take advantage of the Valentine Smartphone Promo while stocks last.
Telecom
GBB Expands Broadband to 13 Underserved Communities In 2025

Galaxy Backbone Limited (GBB) has recorded a significant milestone in Nigeria’s digital transformation journey by advancing broadband connectivity to 13 underserved institutions and communities nationwide in 2025, reinforcing its position as the nation’s digital backbone and a trusted partner in national development.

Guided by its mandate to enable a digitally inclusive Nigeria, GBB deliberately extended connectivity to locations within reach of its infrastructure footprint, particularly institutions with strong potential for productive use but limited readiness for immediate commercial engagement. Through this effort, the organisation continues to unlock opportunity, stimulate innovation, and support sustainable growth across critical sectors of the economy.
The expansion reached three Federal Universities, two Local Government Areas, and eight Federal Secretariats, strengthening digital capabilities in education and public administration while enhancing service delivery across the country.
GBB also extended reliable broadband connectivity to strategic and cultural landmarks such as the Nnamdi Azikiwe International Airport, Abuja, underscoring its commitment to supporting national infrastructure that drives economic activity, mobility, and global connectivity.
These deployments highlight Galaxy Backbone’s resolve to bridge the digital divide and empower institutions that shape Nigeria’s future. They demonstrate the measurable national impact of GBB’s infrastructure investments and reflect the tangible progress of the Integrated Digital Transformation Strategy (IDTS), further solidifying the organisation’s role as the platform upon which government institutions and communities can confidently build their digital future.
More importantly, the milestone illustrates that GBB’s work extends beyond technology by enabling education, improving governance, supporting economic participation, and connecting citizens to opportunity.
The initiative aligns with the Federal Government’s broadband penetration objectives and complements national programmes such as Project 774 – Universities’ Hostel Connectivity, ensuring coordinated, scalable, and sustainable impact across the country. Commenting on the achievement, Galaxy Backbone noted that every new connection brings Nigeria closer to a more inclusive digital economy while reinforcing the infrastructure required for innovation and national competitiveness.
As implementation continues, GBB remains committed to expanding access, pushing boundaries, and delivering on the promise of a fully digital nation, with further updates expected as additional phases of the deployment progress.
Galaxy Backbone Limited is the Federal Government’s digital infrastructure and shared services provider, dedicated to delivering secure, reliable, and scalable ICT solutions that support efficient governance, innovation, and sustainable national development.
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