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FG to enact policies for fintech innovation

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Mr Lanre Osibona, Senior Special Assistant to the President on ICT, has said that Federal Government plans to enact policies that will encourage innovation and dynamism in the financial technology space.

Osibona made this known on Wednesday during the First Edition of the FINTECH Week 2019 held in Lagos.

The theme of the event was FinTech: “Exploring the huge opportunities”.

He said that aside from enacting policies, digital infrastructure was also critical to the scaling of fintechs.

The presidential aide on ICT said that enacting policies and building digital infrastructure would help the country towards becoming a digital economy.

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“The approach to new technology investment initiatives of this administration ensures that there is associated skills transfer and human capacity development in line with the Executive Order 005.

“This is because there is a huge opportunity to ride on the fourth industrial revolution towards economic diversification and growth, social inclusion, job creation and transparency of process across sectors,” he added.

Osibona noted that the recent Payment Service Bank framework would position Nigeria as the digital economy giant.

“Digital financial services is a critical pillar of a robust digital economy.

“We are determined to bring affordable digital financial services to people who are currently unbanked or underbanked.

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“We have also developed a data protection and privacy bill to ensuring trust between the government and citizens.

On ensuring cybersecurity, he said that the government was developing a robust cybersecurity framework following the outcome of the cyber security assessment initiated.

He said that government would collaborate with the private sector in developing policies and regulations that would address the challenges of data sovereignty, data ownership and commercialisation of data.

“We can not be defensive in our approach as no one can hold down the pace of development. We must be more proactive in ensuring that we prepare for the opportunities that the future will present to us,” he said.

Osibona, however, said that a big hindrance to the digital economy was the lack of connectivity and supporting infrastructure.

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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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NCC Leads Tecno, Hyperspace, Digital Realty To NITRA Forum On Scientific Innovation

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The need for Nigeria to think outside the box in its need to drive towards global relevance with innovations and scientific developments will be on the front burner at the NITRA Innovative & Scientific Conference scheduled to hold on Thursday July 23, 2026 in Ikeja, Lagos.

NCC Leads Tecno, Hyperspace, Digital Realty To NITRA Forum On Scientific Innovation

NITRA

The Nigerian Communications Commission (NCC) will lead other delegates to discuss and take far-reaching decisions at the event, which has its theme as “Bridging Nigeria’s Digital Divide With Scientific Innovation”.

Other companies that have indicated interest in partnering with NITRA include mobile communications company, Tecno; Africa’s premier end-to-end AI solutions company, Hyperspace; and telecommunications data infrastructure company, Digital Realty.

Speaking on the proposed event, the Chairman, Nigeria Information Technology Reporters Association (NITRA), Chike Onwuegbuchi noted that the event will seek to create a platform for government and private organisations to deliberate on policies around scientific innovations in Nigeria, challenges, place of indigenous and foreign collaboration, roles of each stakeholder, and grassroots development in that regard, among others.

According to him: “The Federal government, with series of programmes and partnerships, has established the urgent need to create an ecosystem that thrives on scientific innovation, breeding institutions and individuals with a target of placing the country at the fore-front of Next-Gen development.

It is a known fact that digital and scientific innovations are crucial, not only to the survivability of a nation, but also to the sustainability of its growth and development, with significant effect on economic strength, global image, defense and security, government capabilities to function, and public health and safety, communication and digital footprint, among others.

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The federal government is actively driving scientific innovation to foster economic diversification and build a $1 trillion economy by 2030. Efforts are heavily focused on commercializing research, establishing massive research funds, and funding strategic infrastructure, particularly in technology, biotechnology, and healthcare. Core government initiatives and policies include the newly instituted National Research and Innovation Development Fund (NRIDF), which aims to mobilize about $500 million annually to support research and the commercialization of scientific outputs; and the Nigeria Genomic City, a multi-ministerial initiative aimed at transforming Nigeria into a leading hub for genomics, precision medicine, and biotechnology. It is designed to protect indigenous data, stimulate artificial intelligence in health, and develop a highly skilled scientific workforce.

According to the General Secretary of NITRA, Mr. Chidiebere Nwankwo, the forum will also be a vehicle to propagating the views of decision makers to the public, thereby furthering the cause of public awareness and information dissemination on the topic.

The focus, he said will be on how Nigeria can sustain digital innovative growth and scientific development in Nigeria

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Jarvis Raises Network Reliability Concerns @MTN Nigeria’s Data on Trial Event

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Concerns over network reliability and its impact on Nigeria’s growing creator economy took centre stage at MTN Nigeria’s Data on Trial event, where content creator and streamer, Jarvis, challenged telecommunications operators to improve connectivity for digital creators.

Jarvis Raises Network Reliability Concerns @MTN Nigeria's Data on Trial Event

Speaking during the event, Jarvis asked whether there were locations in Nigeria where uninterrupted internet connectivity could support real-life (IRL) streaming without network disruptions.

“Are there places where there is no breakage when streaming IRL?” she asked.

Her question highlighted the challenges faced by content creators who depend on stable internet services for live streaming, content uploads and real-time engagement with audiences.

Responding, MTN Nigeria’s Chief Technical Officer, Mr Yahaya Ibrahim, said network performance depends on several factors, including location, network coverage, device capability and the number of users connected to a particular base station.

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He noted that operators continue to invest in expanding network capacity to meet the growing demand for data services.

Earlier, MTN’s General Manager, Network Performance and Quality Assurance, Mr Michael Ndukwe, explained the evolution of mobile network technology in Nigeria, from first-generation (1G) services to the current fifth-generation (5G) technology.

According to him, each phase of technological advancement has significantly increased network capacity and enabled new digital services.

Ndukwe cited Nigerian Communications Commission (NCC) data showing that Nigerians consumed about 13.2 million terabytes of data in 2025.

He added that data usage reached approximately 4.06 million terabytes in the first quarter of 2026, reflecting the country’s increasing reliance on digital platforms and online services.

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According to him, the growth is being driven by wider adoption of 4G and 5G networks, increased smartphone penetration, the proliferation of smart devices and expanding use of social media platforms.

Participants at the event noted that as more Nigerians build businesses and careers around digital content, access to reliable and high-speed internet has become critical to sustaining the country’s digital economy and creator ecosystem.

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Data On Trial: Why MTN Chose Transparency Over Corporate Silence

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In an era where customer complaints about data consumption often play out on social media, MTN Nigeria took an unusual step. Rather than issue another statement, the company opened its doors and invited critics, customers, influencers and journalists to interrogate its operations at the Data On Trial in Lagos.

Data On Trial: Why MTN Chose Transparency Over Corporate Silence

Dr Karl Toriola, MTN Nigeria

The session offered a rare glimpse into the realities behind Nigeria’s digital economy. MTN Nigeria CEO, Dr Karl Toriola, acknowledged public concerns and encouraged participants to ask difficult questions. “Give it to us as hard as you can. Ask us the most difficult questions, don’t hold back,” he said. The company used the platform to explain how factors such as automatic cloud backups, video streaming and app settings contribute significantly to data consumption, issues many users often overlook.

Beyond addressing consumer concerns, MTN shed light on the scale of investment required to keep Nigeria connected. Toriola disclosed that the company invested close to ₦1 trillion in network infrastructure last year and plans to exceed that figure this year. He explained that these investments support network expansion, improved capacity and service delivery for millions of Nigerians across the country.

The session also highlighted MTN’s commitment to accountability. Company executives explained that MTN’s billing systems are independently audited and reviewed by regulators to ensure accuracy and fairness. “What we are saying authoritatively is we will never deliberately shortchange you on the consumption of your data,” Toriola stated, reaffirming the company’s position on customer trust and transparency.

More than a defence of its network, Data On Trial reflected a company willing to engage openly with the people it serves. At a time when digital connectivity has become central to everyday life, MTN’s decision to answer tough questions in public signalled a broader commitment to transparency, customer education and continuous investment in Nigeria’s digital future.

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