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CWG Extends MTN XaaS to Power Diamond Y’ello Account

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L-R: Adedeji Adesemoye, CBN Representative;  Austin Okere, Founder & Group CEO, Computer Warehouse Group Plc; Babatunde Osho, Chief Enterprise Solutions Officer, MTN; Honourable Jethro Akun, National Chairman (NAMB); Valentine Whensu, Chairman (NAMB), Lagos State  at the launch of Microfinance Banking Software as a Service dubbed MTN Xaas in Lagos in 2012.
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In furtherance of the Cashless Initiative of the Central Bank of Nigeria (CBN), Computer Warehouse Group Plc has extended the MTN XaaS platform to power the Diamond Y’ello Account in collaboration with Diamond Bank and MTN Nigeria.

MTN XaaS runs on indigenous software from Computer Warehouse Group Plc designed to provide efficient cloud based banking services.

Diamond Y’ello Account is a mobile banking product built on MTN Xaas platform to enable MTN subscribers, including the unbanked and under-banked populace in Nigeria enjoy the banking services from Diamond Bank.

The Diamond Y’ello Account allows automatic account opening just at the dial of *710# by all MTN subscribers, presently put at 58.4 million.

During the launch of this innovative service, Dr. Alex Otti, managing director and chief executive officer of Diamond Bank, said the move was aimed at deepening the cash-less initiative, considering that only about 40 million out of the estimated over 150 million Nigerians have been banked.

He noted that the development would afford millions of Nigerians who have mobile phones but are alienated from banking activities due to procedures to seamlessly key into the formal banking system.

Mr. James Agada, chief technology officer of Computer Warehouse Group Plc while noting that Diamond Y’ello Account is riding on indigenous technology provided by the Computer Warehouse Group Plc also stated that “ this technology and many others in the pipeline which include our SMERP platform, our PosApp solution and our teleport services all form part of the CWG 2.0 initiative where CWG is working with several partners to deploy solutions and services to the wider MSME and consumer markets. The teleport services have been announced with SES and will democratize digital broadcasting in Nigeria. Partners like MTN and Diamond bank are making these initiatives real. We expect CWG 2.0 to be a transformative program for not just CWG Plc but also the entire Nigerian economy”

Also speaking at the launch, Mr. Michael Ikpoki, managing director and chief executive officer of MTN Nigeria, said the telecommunications outfit was ready to absorb the anticipated surge into her digital solutions, allaying fears of disruptions.

It will be recalled that during the MTNXaas launch in 2012, Mr. Austin Okere, founder and chief executive officer of CWG Plc, noted that MTNXaaS is just one of the Technology platforms that CWG will develop for business operation enhancement.

“This is the beginning of so many innovations we are going to unveil; we are going to look at Hospitals, Hotels, Insurance and all those who are locked out of being able to provide competitive services due to IT deficiency and develop suitable technology that will enhance their business growth. CWG and MTN will break the barrier.”

Today, CWG has developed numerous platforms that are being used in different sectors of the Economy such as Education, Financial, Telco and for SMEs while new platforms for other sectors are still in the pipeline.

 


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MTN Says New N6.98 USSD Charge Won’t Affect Airtime Recharge

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Lynda Saint-Nwafor, chief Enterprise business officer, MTN Nigeria, has assured the network subscribers that the new end-user billing system for the use of USSD services will jot affect them.

MTN Says New N6.98 USSD Charge Won’t Affect Airtime Recharge

USSD, otherwise Unstructured Supplementary Service Data codes are commonly used for banking transactions, airtime recharges, and other mobile services.

The telco said that  there is no significant impact or change other than the fact that they will now pay the same N6.98 per session (120 seconds) with their airtime instead of direct bank debit.

Saint-Nwafor, said this during a chat with MTN MIP fellows, explaining that the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have ordered telecom operators to ensure that the new billing model resolves trust issues and ensures transparency in the billing process.

“Our regulator insisted that at the end of every month, we are going to be providing history and statistics on the performance of the service across the board”, she explained.

Saint-Nwafor added that the new billing model has standardized messaging across all operators and ensures consistent communication with customers.

“We will take all the error codes and map them into messages that are standardised across the board. So, if you initiate a transaction, you will know if it is failing. And, when the transaction fails, you will know if it is from your bank or the telco,” she explained.

 


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Crypto Scam Unmasked: U.S. Recovers Record $225m in Global Fraud Bust

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The U.S. government has recovered $225 million in what is now the largest seizure of funds linked to a cryptocurrency investment scam.

In a statement released Wednesday, June 18, the U.S. Attorney’s Office said the recovery followed an extensive investigation by the FBI and the U.S. Secret Service, using blockchain analysis and other forensic tools. The statement did not confirm whether any arrests had been made.

According to the authorities, the stolen funds originated from fraudulent cryptocurrency investment schemes that tricked victims into believing they were making legitimate investments. More than 400 individuals around the world, including dozens in the United States, were reportedly affected.

The operation involved a sophisticated money laundering network that carried out hundreds of thousands of blockchain transactions to obscure the source and ownership of the stolen assets.

“These scams prey on trust, often resulting in extreme financial hardship for the victims,” said Shawn Bradstreet, Special Agent in Charge at the U.S. Secret Service office in San Francisco.

Bradstreet added that U.S. officials hope the recovered funds can eventually be returned to the rightful victims.

Cryptocurrency investment fraud accounted for over $5.8 billion in reported losses in 2024 alone, according to the statement.


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Nnaemeka Ani Calls on African Techies to Rewrite the Narrative

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Hon. Nnaemeka Ani
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In a rousing declaration that is electrifying minds across the continent, Hon. Nnaemeka Ani, Special Adviser on ICT to Enugu State Governor, Dr. Peter Mbah, has called for a homegrown digital revolution under the banner “Africa Will Rise: By Code, By Courage, By Us.”

Hon. Nnaemeka Ani

The message, part challenge, part philosophical—seeks to galvanize African innovators to move beyond buzzwords and build technology with impact and legacy in mind.

“Let’s stop building for hype. Let’s start building for legacy,” Ani urged while speaking to ICT journalists over the weekend. “Let’s stop waiting for someone else. Let’s start creating the future—on our own terms.”

At the heart of Ani’s vision is a shift from tech consumerism to tech authorship. With innovation hubs sprouting across cities like Enugu, Lagos, Kigali, Jo’Burg, and Nairobi, and a growing community of developers, engineers, and entrepreneurs determined to solve Africa’s unique challenges, the movement is already taking shape.

Ani emphasized that Africa’s future lies not in flashy apps or international admiration but in persistent, intentional solutions that uplift communities—solutions that digitize public services, bridge rural-urban divides, empower women and youth, and build resilience in food and climate systems.

“We have the talent,” he said. “Now it’s time to harness it—to stop building for likes and start building for lasting impact.”

With support from leaders like Ani and rising momentum in Africa’s tech corridors, it seems that a new chapter is being written—one line of code at a time.


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