News
FintechNGR Unveils Line-up of Local and International speakers for Nigeria Fintech Week 2024

The Fintech Association of Nigeria, an industry-led organization that represents and promotes the interests of the fintech sector in Nigeria, has announced a line-up of high-profile local and international speakers for the 7th edition Nigeria Fintech Week, which is scheduled to take place between October 8-10 2024 at The Landmark Centre in Lagos.

Nigeria Fintech Week is the largest fintech event in Africa. Over the last six editions, the event has attracted more than 20,000 participants, more than 500 brands and representatives from more than 50 countries to explore trends, foster collaboration and shape the future of Africa’s dynamic and rapidly evolving fintech industry.
This year’s theme – “Positioning Africa’s Fintech Ecosystem to Accelerate Inclusive Growth” – underscores the critical role of financial technology solutions in driving much-needed economic expansion and development. Talking points will include corporate governance, Generative AI, Smart Regulation, Digital Assets, Risk Management and cybersecurity/fraud management, digital and economic inclusion, and other relevant topics.
This year’s event will be a hybrid event (online and in-person) and it is expected to host more than 20,000 attendees from more than 80 countries, as well as more than 100 speakers and more than 50 exhibitors.
The event will also include an investor forum where startups can pitch to select investors, a job fair for interactions between employers, recruiters and job seekers, opportunities for one-to-one meetings with regulators and other opportunities.
Rodger Werkhoven, Independent Creative Director at OpenAI has been confirmed as one of the keynote speakers. Other confirmed speakers include, Temi Popoola, Group CEO of Nigeria Exchange Group, Dr Aminu Maida, Executive Vice Chairman/Chief Executive Officer of the Nigerian Communications Commission (NCC), Dr Emomotimi Agama, Director General of Securities & Exchange Commission, Temitope Ajanaku, Group CFO Xpress Payments, Nimide Falasinu, Vice President, Client Experience at Zest Payment, Dr Kashifu Inuwa Abdullahi, Director-General/CEO of the National Information Technology Development Agency, Gbolayo Atoyebi, Head, FSI Sales at Mainone, Mujib Ishola Executive Director/CTO of Remita, Dr. Chinasa T. Okolo, Fellow at The Brookings Institution, Ifeoluwa Adekunle-Yusuf, Vice President, Product and Engineering at Zest Payments, James Edeh, Head of Compliance at FairMoney Microfinance Bank, Branka Mracajac, CEO of 9 Payment Service Bank and Adetoyese Adedokun, Director at Maycode. Other speakers from The Central Bank of Nigeria, Interswitch, Unified Payments, PalmPay and more will be confirmed shortly.
Speaking ahead of the event, Dr Babatunde Obrimah, COO, FintechNGR said “ since we started in 2017, Nigeria Fintech Week has emerged as the premier platform for advancing the African financial technology ecosystem, bringing together key stakeholders to ensure that fintech innovation continues to drive sustainable economic development on the continent.
“Our aim for this year’s event is to drive impactful conversations on key topics such as Artificial Intelligence, digital assets, governance and financial inclusion, all while fostering collaboration that will shape the future of fintech in Africa. We look forward to welcoming participants from around the world for what promises to be our most transformative event yet.”
The event is free to attend. However, registration is necessary. Interested participants can find out more information or register to attend at: https://nfw.fintechng.org/participate/
Nigeria Fintech Week 2024 will be delivered in collaboration with Africa Fintech Network, Maycode and Talking Drum Communications.
News
Ogbaga, Abuja Lawyer to Sue Telcos, DStv over Alleged Unfair Practices

Ogba Ogbaga, an Abuja-based lawyer, has said that he has been instructed to institute legal proceedings against MTN Nigeria, Airtel Nigeria, Globacom, 9mobile and MultiChoice Nigeria, operators of DStv, over what he described as unfair consumer practices relating to expiring data bundles and television subscriptions.

In a statement posted on Facebook, Ogbaga said his law firm, GIMBG Legals, received instructions from its client, KAA, also known as KaaTruths, to challenge the companies’ subscription policies in court.
According to him, the proposed suit will question whether telecom operators and DStv’s subscription models comply with provisions of the Federal Competition and Consumer Protection Act (FCCPA) 2018 and other applicable laws.
Ogbaga alleged that telecom providers operate internet data services that are unfair to consumers, claiming subscribers sometimes do not receive the services they paid for but still lose their subscriptions once the validity period expires.
He also criticised DStv’s subscription model, arguing that consumers lose paid viewing time due to factors such as power outages, adverse weather conditions and service interruptions, while subscriptions continue to count down regardless.
“Our clients have complained that MTN data services are unduly one-sided,” Ogbaga said, adding that the legal action would also extend to other telecommunications providers and DStv.
He said the court action would seek judicial determination on whether the companies’ subscription practices comply with consumer protection laws.
The lawyer also invited interested legal practitioners to collaborate on the case, saying his firm would provide updates as the matter progresses.
In a separate Facebook post on Wednesday, Ogbaga said previous policy discussions, town hall meetings and debates at the National Assembly had failed to address the concerns raised by consumers.
He argued that telecom operators regularly carry out maintenance and network upgrades that temporarily disrupt services without extending customers’ subscription periods, while DStv subscribers also lose viewing time because of electricity outages and weather-related disruptions.
News
NAICOM Issues New Licences to 43 Recapitalized Insurers

The National Insurance Commission (NAICOM) has commenced the issuance of new licence certificates to insurance companies that successfully met the industry’s new minimum capital requirements, marking the formal beginning of a new regulatory era aimed at strengthening the financial capacity, governance and global competitiveness of Nigeria’s insurance sector.

At a ceremony held at the Commission’s headquarters in Abuja, the Commissioner for Insurance, Olusegun Ayo Omosehin, presented the new licence certificates to compliant operators, describing the exercise as a major milestone in the industry’s recapitalisation programme.
According to the Commission, a total of 43 insurance companies declared compliant with the new capital requirements are expected to receive the new licence certificates in phases.
Omosehin congratulated the successful companies, saying the issuance of the new licences signals the beginning of a stronger regulatory framework anchored on improved capitalisation, sound corporate governance, innovation and sustainable growth.
He urged operators to leverage their enhanced capital base to develop innovative insurance products, improve operational efficiency and deepen insurance penetration across the country.
The Commissioner said the Commission expects the recapitalised companies to deliver stronger financial performance while maintaining high standards of professionalism and customer service.
He also announced that NAICOM’s next major regulatory initiative would be the implementation of the Risk-Based Capital (RBC) framework, under which insurers’ capital levels would be aligned with the risks inherent in their respective business portfolios.
According to him, the new framework will further strengthen the industry’s resilience by ensuring that insurers maintain capital commensurate with the risks they underwrite, thereby enhancing policyholder protection and boosting market confidence.
Omosehin reaffirmed the Commission’s commitment to removing regulatory impediments where necessary while maintaining effective oversight to safeguard policyholders and strengthen confidence in the insurance market.
The issuance of the new licence certificates marks the commencement of a phased transition to higher capital standards aimed at improving the financial capacity, solvency and claims-paying ability of insurance companies operating in Nigeria.
News
Nigeria CommunicationsWeek Retracts Story on Pan African Towers Litigation

Management of Nigeria CommunicationsWeek Media has withdrawn its publication titled “Adefolarin Ogunsanya and the Allegations of Shareholder Interference and Self-Dealing at Pan African Towers,” which was published on its platform.

The decision to retract the story follows an editorial review to ensure that the platform maintains the highest standards of accuracy, fairness and responsible journalism in reporting matters that are the subject of ongoing judicial proceedings.
Nigeria CommunicationsWeek acknowledges that the issues raised in the publication remain before the courts and have not been finally determined.
Accordingly, the organisation has decided to remove the article from its platforms pending the conclusion of the legal processes or the availability of additional verified information.
The publication regrets any inconvenience or misunderstanding the report may have caused to readers or any individuals or organisations mentioned in the story.
Nigeria CommunicationsWeek remains committed to the principles of balanced, factual and ethical journalism and will continue to uphold professional standards in its coverage of judicial and corporate governance matters.
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