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Founder Institute Launches Newest Chapter in Lagos

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L-R: Oluwarotimi Fasuyi, CEO, VasDigiMobility; Ifedy Eze, Co-founder, Maisematrix Consulting; Wande Adalemo CEO, Wave3 Wireless and Chukwuemeka Fred Agbata Jnr. “CFA”, Co-founder, GoDo.ng
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The Founder Institute, world’s premier idea-stage accelerator and startup launch program has officially launched its newest chapter in Lagos.

Speaking at the launch, Wande Adalemo CEO, Wave3 Wireless / Director, Founder Institute said, that the primary goal of launching Founder institute in Nigeria is to provide a safe place for startups to materialize and hone their entrepreneurial skills.

According to him, “Founder Institute is geared towards providing a safe place for startups to materialize and hone their entrepreneurial skills in order to reverse business failures in their nascent stage”.

In his words, “About 90% of startups fail within the first two years of their starting, it doesn’t matter how much you raised or not and that’s a huge problem.

“The solution to this problem is finding the right kind of jobs that will employ the right kind of people, the solution is finding companies that can scale and survive within the harsh environment that we operate in here.

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“So Founder Institute is that institute that’s set to change all of these problems.

“We are the world’s premier startup accelerator that helps startups scale the first few years of their starting.

“We also help entrepreneurs build an enduring company with a support network that is, investing in the success of these entrepreneurs through a structured business building process that ensures that they no longer fail.

Earlier, while giving an insight on how the institute program works, Chukwuemeka Fred Agbata Jnr. “CFA”, Co-founder, GoDo.ng / Director, Founder Institute said that they plan to run two semesters annually.

He also revealed that their aim is to launch over 20 meaningful and enduring technology companies per year in Lagos.

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In order to celebrate the launch, the Lagos Founder Institute will host a series of free startup events for the general public, where attendees can learn how to build a company and learn more about the program. See the full list of events at http://fi.co/events/lagos.

For aspiring and early-stage entrepreneurs up to the challenge, the Founder Institute’s comprehensive step-by-step program provides the structure, mentor support, and global network of entrepreneurs needed to start an enduring company.

The Founder Institute is the only program of its kind that focuses on people versus ideas, accepts founders with day jobs, and shares equity with all participants.

Founder Institute Graduate companies include fast-rising startups across 6 continents like Udemy, Realty Mogul, Travelcar, goplaceit, Appota, and many more.

In addition, the Lagos 2019 program will include the Founder Institute’s newest company-building curriculum suitable to address the needs of advanced founders (MVP stage) as well as aspiring new entrepreneurs at the idea-stage – a project just released this year in collaboration with hundreds of startup leaders across the globe.

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The Lagos Chapter will once again be led by local startup leaders Chukwuemeka Fred Agbata Jnr. “CFA”, Co-founder, GoDo.ng & Presenter, Tech Trends on Channels TV; Oluwarotimi Fasuyi, CEO, VasDigiMobility; Wande Adalemo CEO, Wave3 Wireless and Ifedy Eze, Co-founder, Maisematrix Consulting.

If you are a corporate executive who has always desired to start your own enterprise, then FI is for you.

If you are already a founder but would like to re-validate certain aspect of your offerings or be part of a global network of start-ups, then you might want to jump-in early.

Apply to the Lagos Founder Institute at http://fi.co/apply/lagos Today!

Anyone who applies by the Early Application Deadline (2019-04-28) is eligible for a variety of scholarships – including the Female Founder Fellowship, which is offered to the best overall female applicant.

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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 Asks Telcos to Make Budgetary Provisions for Cybersecurity

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Nigerian Communications Commission (NCC) has directed telecommunications operators to make dedicated budgetary provisions for cybersecurity as part of efforts to strengthen the resilience of Nigeria’s communications infrastructure against the growing wave of cyber threats.

NCC Asks Telcos to Make Budgetary Provisions for Cybersecurity

 

The directive forms part of the Commission’s Cyber Resilience Framework for the Nigerian Communications Sector (CRF-NCS), which introduces new governance, risk management and operational requirements aimed at safeguarding the country’s critical telecommunications infrastructure from increasingly sophisticated cyberattacks.

Under the framework, all licensed telecom operators are expected to establish formal cybersecurity governance structures, dedicate adequate financial resources to cyber resilience programmes, and integrate cybersecurity into their enterprise-wide risk management processes.

The Commission said operators must ensure cybersecurity investments are no longer treated as optional operational expenses but as strategic business priorities necessary to protect network infrastructure, customer information and the country’s digital economy.

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According to the NCC, licensees are expected to allocate sufficient budgets to support cyber risk assessments, security technologies, staff training, incident response capabilities, continuous monitoring and compliance with regulatory requirements.

The framework also requires operators to designate senior executives responsible for cybersecurity oversight.

At the same time, boards of directors are expected to provide strategic direction and ensure adequate funding for cyber resilience initiatives.

Speaking on the need for a stronger cybersecurity regime during the unveiling of the framework, Abraham Oshadami, executive commissioner, Technical Services, NCC,  said, “Given the increasing digitalisation of services, the rapid growth of data exchange, and the sophisticated nature of modern cyber threats, the need for a robust, adaptive and inclusive cybersecurity framework has become more urgent.”

He added, “Both state and non-state actors are targeting essential sectors—including ours—through coordinated cyber and physical attacks. These attacks frequently target control systems and data integrity, underscoring the critical risks posed to operational technology (OT), especially in our sector.”

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“As cyber threats evolve, they endanger not only system performance but also human safety, amplifying the severity and consequences of disruptions to vital communications infrastructure. Cybersecurity now encompasses human safety and must address the real risk to people’s lives when a system is attacked or compromised.”

The Commission further stated that operators are required to develop comprehensive cybersecurity implementation plans, conduct periodic risk assessments, establish business continuity and disaster recovery procedures, and regularly test their cyber defence capabilities.

In addition, the framework makes cyber incident reporting compulsory. Licensees must inform the NCC’s CSIRT of any major cybersecurity breach within four hours of discovery, and provide a thorough post-incident analysis after mitigation is complete.

 

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Glo Leads Internet Growth Figures in Nigeria for May

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Digital solution provider, Globacom has recorded the highest Internet subscriber growth among Nigeria’s major telecom companies for the month of May.

Data from the Nigerian Communications Commission, NCC, Nigeria’s total Internet users increased to 157 million in May, up from 154.3 million in April. That is a growth of 2.67 million users in one month.

Globacom led the market by adding about 1.2 million new Internet subscribers. This means Glo was responsible for almost half of all new Internet users in May.

The company’s subscriber base grew from 15.5 million in April to 16.8 million in May. Airtel came second with 1.07 million new users, moving from 54.8 million to 55.8 million. MTN added 382,894 users to reach 83.5 million.

T2 Mobile, formerly 9mobile, recorded no growth for the second month in a row. Its subscriber base remained at 802,534. This is despite its roaming agreement with MTN, which was approved almost a year ago to help T2 customers use MTN’s network in areas with poor coverage.

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Industry experts say Glo’s strong growth is due to its ongoing network upgrade. Since last year, the company has been building new base stations, expanding its fibre network, and adding thousands of new 4G sites across cities and rural areas.

The upgrades have improved voice and data quality for customers, while Globacom remain committed to providing better network experience and affordable Internet services to more Nigerians.

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MTN Paid 600Bn in Taxes in H1 2026 – Kadri, MTN CFO

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MTN Nigeria’s half-year 2026 performance reflects more than revenue growth, highlighting the wider economic activity generated through tax payments, infrastructure investment and shareholder returns.

MTN Paid 600 Billion in Taxes in H1 2026 - Kadri, MTN CFO

Kadri, MTN CFO

Beyond its financial results, the telecommunications operator said it continues to channel substantial resources into expanding network infrastructure, meeting statutory obligations and delivering value across its stakeholder ecosystem.

The company disclosed that it paid more than ₦600 billion in taxes, customs duties, regulatory levies and other statutory obligations over the past year.

It also invested over ₦1.6 trillion in capital expenditure since January 2025 to expand network capacity and improve service quality, while declaring an interim dividend of ₦26 per share for shareholders.

Speaking on Arise News’ Global Business Report, MTN Nigeria’s Chief Financial Officer, Modupe Kadri, explained that the company’s earnings are shared across several stakeholders before returns reach investors. “For every one naira of revenue, about 24 kobo becomes profit.

“The government receives over ₦600 billion through taxes and levies, operating costs account for a significant portion of our revenue, and every participant within the ecosystem benefits from the value we create,” he said.

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According to the Nigerian Communications Commission (NCC), telecommunications remains one of the largest contributors to Nigeria’s Gross Domestic Product, supporting digital financial services, education, healthcare, commerce and public services. Continued investment by operators has also been identified as critical to expanding broadband access and improving digital inclusion across the country.

Kadri noted that shareholder returns remain an important part of MTN’s capital allocation strategy, but stressed that they represent only one aspect of the company’s broader economic contribution.

“Even when we declare dividends, the government still receives withholding tax, while we continue investing heavily in our network because sustaining quality service requires ongoing capital commitment,” he said.

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