Telecom
Fidelity Bank Reinforces Commitment to Digital Technology, Adopts Open Banking
In line with its commitment to the adoption of innovative digital technology to drive its retail strategy, reduce cost and improve revenue and returns, Fidelity Bank has signed a Memorandum of Understanding with Open Technology Foundation (OTF) for the adoption of a standard Application Programming Interface (API) for its operations as a financial institution.
Open Banking is a system that provides a user with a network of financial institutions’ data through the use of application programming interfaces (APIs).
The Open Banking Nigeria Standard defines how financial data and services should be created, shared and accessed. By relying on networks instead of centralisation, open banking helps customers to securely share their financial data with other financial institutions.
The bank recently took a bold step to further provide its consumers with improved services and solutions that meet their needs by leveraging the collaborative model of Open Banking.
Through this partnership, Fidelity Bank would deepen its financial services delivery through appropriate and time sensitive channels whilst collaborating with other stakeholders within the ecosystem.
Open Banking has been seen as the most transformational financial technology over the next decade which has seen about 47 countries at various stage of implementation.
Recently, the Central Bank of Nigeria signaled its intention to lead Africa in digital payments innovation with the request for information about the National Payments System Vision 2030 for which Open Banking is a strategic priority.
Additionally, Fidelity Bank has by this development, joined other leading banking and financial services industry players, who have not only adopted but are also promoting this mode of operation, which among other benefits would drastically consolidate customer satisfaction, grow revenue across diverse streams, promote financial inclusion, as well as assure a smooth but controlled data flow.
“As a digitally innovative and forward-thinking bank, we believe in the importance of investing in digital technologies and its significant contributions to shaping the future of banking globally” said Fidelity Bank CEO, Nnamdi Okonkwo.
“Therefore, this partnership with the Open Technology Foundation for the adoption of a standard, industry-wide API is a step in the right direction and is in alignment with our commitment to digital innovation, for the satisfaction of our customers” he explained further.
The Open Technology Foundation was established to analyse the need of the industry for a common API standard among banks and other financial institutions, develop the common API standards, provide a sandbox and other testing tools for certification, promote the adoption of an Open Banking standard with stakeholders across Nigeria, and to enable further innovation in the financial services industry.
“At Open Technology Foundation, it is our utmost delight to collaborate with players across the banking and services ecosystems for the introduction, adoption and promotion of Open Technology practices.
“We are convinced that this is one great move that would transform the financial space in Nigeria, with ripple effects across other industries in the country and by extension Africa,” said Ope Adeoye, a trustee of Open Technology Foundation.
Focused on select niche corporate banking sectors as well as Micro Small and Medium Enterprises (MSMEs), Fidelity Bank is rapidly implementing a digital based retail banking strategy which has resulted in exponential growth with savings deposits tripling over the last five years and over 40 percent of customers enrolled on the Bank’s flagship mobile/internet banking products.
Nigeria’s telecom providers intend to establish the Telecom Infrastructure Protection Trust Fund to pay for equipment protection as the industry faces an alarming increase in infrastructure sabotage.
The sector attended a meeting co-hosted by the Nigeria Information Technology Reporters Association (NITRA) and the Association of Licensed Telecommunications Operators of Nigeria (ALTON), where they discussed ways for safeguarding critical ICT assets in the country.
During the conference the Nigerian Communications Commission (NCC) warned that major mobile operators now suffer more than 1,100 fibre-optic cuts every week.
Speaking at the conference in Lagos, Dr. Aminu Maida, executive vice chairman, NCC, represented by Edoyemi Ogoh, director of technical standards and network integrity, said the damage is crippling service reliability and undermining national security.
To curb the damage, the NCC is enforcing stricter infrastructure standards for fibre deployment and tower construction, launching nationwide awareness campaigns, and working closely with the Office of the National Security Adviser to align with broader security frameworks.
“When vandalism occurs, it’s not just operators that lose, ordinary Nigerians feel the impact when banking, healthcare, and emergency systems fail,” Maida stressed.
Gbenga Adebayo, chairman, ALTON, reiterated the worries, criticising operators for failing to implement basic security measures such as perimeter fencing or CCTV.
He denounced the booming black market for stolen telecom components, which is frequently supported by insider cooperation.
“We need tougher prosecutions so those caught face the full weight of the law,” he urged.
In the case of NITRA, Chike Onwuegbuchi, chairman, proposed establishing a Telecom Infrastructure Protection Trust Fund to pay for preventative measures.
He also stated that educating communities about the costs of vandalism is critical to maintaining connectivity and protecting critical services.
MTN Nigeria has announced the commencement of the seventh edition of its mPulse Spelling Bee, a national competition that has grown into one of the most impactful youth literacy initiatives in the country. With a new structure that emphasises nationwide inclusion and physical regional competitions, this year’s edition will engage thousands of students and amplify the brilliance of young Nigerians across all six geopolitical zones.
Kicking off with a practice stage on July 28, 2025, the competition is open to Nigerian students aged 9 to 15 in primary and secondary schools. For the first time, regional competitions will be held physically in three cities: Ibadan for participants in the South-West, Enugu for participants in the South-East and South-South, and Abuja for participants in the North-Central, North-East, and North-West. This new structure reflects MTN’s commitment to giving every child, regardless of region, the opportunity to learn, compete, and shine.
The Spelling Bee competition unfolds in five progressive stages: Practice Stage, Round1 (Entry Phase), Round 2 (Regional Qualification), Round 3 (Physical Regional Competitions), and the Grand Finale. From the first round, the top 3,000students (500 per zone) will qualify for regional rounds, and the best 20spellers from across Nigeria will proceed to the Grand Finale in Lagos. Seven top finalists, each from the regional competitions in Ibadan and Enugu, and six top finalists from the competition in Abuja, will make up the Top 20 finalists for the Grand Finale in Lagos.
The total prize pool for this year’s edition is over ₦40 million, with rewards spread across students, schools, and teachers. The overall winner will be crowned MTN CEO for a Day, receive a ₦5million educational grant, and be named mPulse Face of the Year. The winner will also receive a brand-new laptop and smartphone. Their teacher will receive₦500,000, while the winner’s school will be awarded 10 laptops, 10 MTN 5G routers, and a ₦10 million flagship project.
“The MTN mPulse Spelling Bee isn’t just a competition; it’s a platform for young Nigerians to access recognition, leadership opportunities, and academic support. We are proud to be empowering the next generation of innovators and leaders,” said Onyinye Ikenna-Emeka, Chief Marketing Officer of MTN Nigeria.
Last year’s winner, Ikenna Ikechukwu, described his journey to the top as one that required determination and sacrifice. “Preparing for the competition meant sleepless nights. There were so many words to learn, and while it’s impossible to know them all,I aimed to master at least 60 to 70%. This platform doesn’t just reward winners; it gives you the confidence to aim higher and believe in your abilities. A special thanks to MTN for this amazing initiative that helps students learn, play, and shine,” he shared.
Now in its seventh year, the mPulse Spelling Bee continues to serve as a bridge between education and opportunity, empowering young minds to grow beyond the classroom. With thousands of students set to participate, this edition hopes to spark conversations, spotlight regional talent, and showcase the power of words in shaping Nigeria’s future.
Hosted on the mPulse website (https://mpulse.mtn.ng), the mPulse Spelling Bee is designed to promote literacy, strengthen comprehension and build confidence through digital learning and healthy competition.
MTN Nigeria has announced the launch of the MTN Cloud Accelerator, a 12-week programme designed to propel African growth-stage startups into their next phase of expansion by providing access to funding, mentorship, and MTN’s robust cloud infrastructure.
Lynda Saint-Nwafor, Chief Enterprise Business Officer, MTN Nigeria
Applications opened on July 7, 2025, and will close on August 15, 2025, with the first cohort of selected startups set to be announced on September 1, 2025. The programme will run from September 6 to December 6, 2025, offering founders a powerful platform to scale their businesses faster, smarter, and more sustainably.
“This initiative reflects MTN’s belief in Africa’s innovators and their ability to transform communities and economies,” said Lynda Saint-Nwafor, Chief Enterprise Business Officer, MTN Nigeria. “Through the MTN Cloud Accelerator, we are giving founders the tools, networks and resources they need to compete not just locally but globally.”
Targeting startups with MVPs or live products, the MTN Cloud Accelerator is designed for innovators operating in high-impact sectors, including fintech, health tech, agritech, edtech, AI and data infrastructure, cybersecurity, and retail/e-commerce.
Participants will gain access to funding opportunities, mentorship from industry experts, API integrations into MTN’s ecosystem, and go-to-market and sales support to accelerate customer acquisition and scale faster.
The MTN Cloud Accelerator builds on MTN’s ongoing investment in Africa’s technology infrastructure. This forms part of MTN’s commitment to accelerating Africa’s digital economy and positioning the continent’s startups for global competitiveness.
Applications are now open, and startups meeting the criteria are encouraged to apply by visiting www.mtnaccelerate.com before the deadline on August 15, 2025.
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