Telecom
Four Technologies that can Drive Nigeria’s Cashless Economy

By Victor Irechukwu, Head of Engineering, OnePipe
Waving your hand to pay after shopping at a store, or simply placing your mobile phone on the checkout counter could seem strange – at least to a number of people in Nigeria. But it is possible and in fact, already standard practice in some countries.

Victor Irechukwu,
This, and other cashless methods can also be possible in Nigeria if the right technologies are adopted. After all, some people already use tollgates where courtesy of something called e-tag, they are let through without waiting to pay every time. It is a form of cashless technology too.
Global cashless payment volumes are set to increase by more than 80% from 2020 to 2025, from about 1tn transactions to almost 1.9tn, and to almost triple by 2030, according to analysis by PwC. Asia-Pacific will grow fastest, with cashless transaction volume increasing by 109% from 2020 to 2025 and then by 76% from 2025 to 2030, followed by Africa (78%, 64%) and Europe (64%, 39%). Latin America comes next (52%, 48%), and the US and Canada will have the least rapid growth (43%, 35%).
Here are some technologies Nigeria should be looking into so as to strengthen the move towards being cashless.
QR code
Have you ever come across a sign that says ‘scan to pay’ (with a pattern of black squares) after shopping at a store? Any business or individual that receives payment can provide this option, which is derived from Quick Response codes, which are machine-readable barcodes that store information.
In 2020, Ghana became the first African country to introduce a universal QR code. In South Africa, the Payments Association of South Africa (PASA) has identified a need to streamline the experience of both payer and payee and is in the process of standardising QR codes across the sector.
In 2021, the Nigeria Inter-Bank Settlement System Plc (NIBSS) launched the New Quick Response (NQR) payment solution code, which it describes as “an innovative payment platform implemented on behalf of all financial service providers.” The New Quick Response code solution offers a robust platform that delivers instant value for P2B and P2P transactions by simply scanning to pay.
Generally, making QR codes more widely used will create another easier way for people to transact without cash, and cheaper for merchants to receive their money.
Mobile money
Nigeria still hasn’t fully hacked Mobile Money, despite the successes recorded in other countries across Africa. In 2021, CBN data shows Nigeria recorded 1.2 billion mobile money transactions with a value of N15 trillion (about $34 billion using official rates).
However, in Ghana, with a fraction of Nigeria’s population, the volume of transactions was 4.25 billion in 2021, with a value of GH¢ 978.32 billion (about $75 billion).
Let’s not even compare with Kenya or other African countries blazing the trail in mobile money. It is clear that this technology remains largely underexplored in Nigeria. With the country’s large rural population and low internet penetration, mobile money offers those who would otherwise be disadvantaged a way to send and receive money electronically and with less sophistication required.
Digital wallets
iPhone users should be familiar with Apple Pay and their android contemporaries, Google Pay. But, whenever you are sceptical of inputting your card details on a website, has it occurred to you to use that Apple or Google pay function (which you already trust) on your device?
There are other options which PwC described in a report as ‘super-apps’ such as WeChat Pay and Alipay in China, and in different countries, local options abound with different names. While many people already use these platforms it is still not a widespread means of payment in Nigeria.
These digital wallets allow consumers to load and store payment methods and access funding sources, such as cards or accounts, on their mobile devices. The use of digital wallet–based transactions grew globally by 7% in 2020, according to a report by FIS, a financial services technology group, which predicts that digital wallets will account for more than half of all e-commerce payments worldwide by 2024, as consumers shift from card-based to account- and QR code–based transactions.
Nothing stops the growing fintech industry in Nigeria from introducing similar platforms to take advantage of the immense opportunities.
Contactless payments
This has been referenced a few times earlier and it is one innovative way to not only get more people to go cashless, but also in a way that would excite them.
Imagine that you have finished shopping at a supermarket and the cashier tells you to simply hold your phone near theirs and with the tap of a button, payment is done.
This movement of money from you as a customer to the merchant happens through near-field communication (NFC) technology, a function you may have seen on your phone, never utilised and probably been curious as to what it does.
A Tappit article further explains that instead of swiping or inserting your bank card into a reader and typing a PIN, you simply ‘tap-and-go’ or ‘wave and pay’. To make a payment, you place your bank card or contactless-enabled mobile phone near the reader.
These technologies, in addition to other existing cashless payment methods like the regular bank transfers, card payments, can help drive Nigeria’s cashless economy further.
Telecom
NCC Orders Telcos to Report Cyberattacks Within 4 Hours from 2027

Starting February 2027, Nigerian Communications Commission (NCC), has mandated mobile network operators and other communications service providers to notify it within four hours of detecting any cyberattack.

This is aimed at strengthening the protection of telecom infrastructure and subscriber data.
The directive is contained in the Cyber Resilience Framework for the Nigerian Communications Sector (CRF-NCS) released by the NCC last month.
According to the NCC, the rule will take effect in February 2027, giving operators a year to put in place the necessary monitoring and reporting systems.
Under the framework, telecommunications companies must alert the regulator within four hours of detecting a cyber incident and continue to provide updates every four hours until the situation is contained.
Operators are also required to submit a confirmation report within 24 hours through a dedicated reporting portal.
The commission said the framework is designed to strengthen cybersecurity oversight in a sector that handles vast volumes of sensitive consumer and national infrastructure data.
Cyber threats targeting telecom networks can lead to service disruptions, data breaches affecting subscriber information, malware infections and other attacks capable of crippling communications systems, according to the regulator.
By introducing faster reporting timelines, the commission said it hopes to improve sector-wide situational awareness and ensure quicker response to threats before they escalate into major outages or data compromises.
The framework also requires telecommunications companies to establish dedicated Security Operations Centres (SOC) to monitor networks continuously for suspicious activity and cyber threats.
These centres are expected to detect and report malicious activities promptly while coordinating responses internally.
In addition, each operator must designate a cybersecurity lead responsible for working with the commission’s Computer Security Incident Response Team (CSIRT) to share intelligence and coordinate responses to incidents affecting the communications ecosystem.
The NCC said the new framework forms part of broader efforts to strengthen resilience across Nigeria’s communications infrastructure and promote a unified cybersecurity posture in the sector.
The measures come amid growing global and domestic concern over data breaches and cyber intrusions targeting companies that manage large volumes of digital information.
Telecommunications companies, which serve as gateways for internet traffic, mobile banking, messaging and other digital services, are increasingly seen as critical infrastructure vulnerable to cyber threats.
Nigeria’s telecom regulator has in recent years tightened rules around data protection and network security as the country’s digital economy expands.
Telecom
US Court Dismisses All Claims Against Binance in Major Anti-Terrorism Lawsuit Victory

A United States federal court in the Southern District of New York has comprehensively dismissed all claims against Binance, the world’s largest cryptocurrency exchange by registered users, in a high-profile lawsuit under the Anti-Terrorism Act (ATA).

Binance
The 62-page decision represents a decisive legal victory, rejecting allegations from 535 plaintiffs who claimed the platform provided material support linked to 64 terrorist attacks.
The court meticulously examined and dismissed every central allegation, ruling that plaintiffs failed to establish Binance assisted terrorists, associated itself with the attacks, participated in or sought to advance them, or engaged in any conspiracy with terrorist organisations.
This full dismissal underscores the absence of evidence supporting the claims, affirming Binance’s long-standing position that the suit was meritless.
Binance General Counsel Eleanor Hughes described the outcome as “a complete vindication of all false allegations.” She emphasised: “The court has unambiguously rejected the false and damaging narrative that Binance assisted terrorists.
“We have always maintained these claims were without merit, and today’s ruling confirms that. We will continue to defend ourselves aggressively against any litigation or reporting that misrepresents who we are and how we operate.”
While the ruling grants plaintiffs 60 days to file an amended complaint in light of a recent appellate decision, Binance expressed strong confidence that no revisions can remedy the “fundamental deficiencies” identified by the court. The exchange views this as a thorough examination and rejection of the underlying assertions.
Binance reaffirmed its commitment to industry-leading compliance infrastructure, proactive regulatory engagement, and robust legal governance worldwide.
The company stressed that its operations do not support, facilitate, or enable terrorism in any form, and it plans to maintain constructive dialogue with regulators while pursuing vigorous defences against misleading narratives.
This development bolsters Binance’s position amid ongoing global scrutiny of crypto platforms, highlighting its operational integrity in a sector often targeted by unsubstantiated claims.
Telecom
TikTok Pumps $200k into AI Media Literacy for Sub-Saharan Africa at Nairobi Summit

TikTok has announced an additional $200,000 investment in AI media literacy initiatives across Sub-Saharan Africa during its third annual Safer Internet Summit in Nairobi, underscoring the platform’s push for safer online spaces amid rising digital challenges.

TikTok
The two-day event, themed #SaferTogether: ‘Innovation and Safety’, gathered government officials, regulators, safety partners, and industry leaders from the region. It builds on prior summits in Ghana (2024) and Cape Town (2025), focusing on collaborative solutions for online protection.
TikTok’s Head of Government Relations and Public Policy for Sub-Saharan Africa, Tokunbo Ibrahim, stated: “Our mission is clear: to share learnings, tackle challenges, and advance actionable solutions that protect citizens online. By uniting policymakers, innovators, and creators, we ensure all-inclusive conversations for a resilient digital landscape.”
Kenya’s Cabinet Secretary for ICT, Hon. William Kabogo, who opened the summit, added: “This reflects our commitment to collaboration, sector growth, and a safe digital space. We must advance digital innovation, responsible AI governance, and strong regional partnerships.”
Boosting AI Literacy with Local Partners
A summit highlight was TikTok’s expanded $2 million AI Literacy Fund, launched globally in November 2025. The new $200,000 in ad credits targets local organisations to combat misinformation and empower users.
In Sub-Saharan Africa, initial grantees include:
Mtoto News (Kenya): Producing content to help youth engage responsibly with AI.
Africa Check (Nigeria, South Africa, Kenya): Enhancing fact-checking against AI-generated deepfakes.
CJID/DUBAWA (West Africa): Amplifying truth via independent fact-checking to fight information disorder.
Valiant Richey, TikTok’s Global Head of Partnerships, Elections & Market Integrity, said: “We partner with trusted locals because their expertise makes AI literacy impactful, empowering communities as viewers or creators.”
Transparency and Moderation Advances
Delegates explored TikTok’s AI-driven safety measures, including mandatory labelling of AI-generated content (AIGC), advanced detection, and partnerships like the Coalition for Content Provenance and Authenticity (C2PA) for watermarking.
With over 100 million daily uploads, AI aids proactive moderation: Q3 2025 data shows 14 million videos removed in Sub-Saharan Africa, 96.7% via automated tech, complementing human oversight.
The summit ended with pledges for ongoing digital safety efforts across the region.
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