Connect with us

Telecom

How KongaPay Saved my life Amid Naira scarcity – Trader

Published

on

Kindly share this post

A petty trader, Mrs. Bolade Inuwa, has narrated how she was spared huge embarrassments and inconveniencies in the wake of the recent policy pronouncement on the redesign of select denominations of the national currency – the Naira, specifically referencing how KongaPay, a mobile money wallet operated by Nigeria’s leading e-commerce giant, the Konga Group, came to her rescue.

Nigerians from all walks of life have had to contend with severe difficulties in the wake of the announcement by the Central Bank of Nigeria (CBN) which initially pegged January 31, 2023 as the deadline for the return of old series of 200, 500 and 1000 Naira notes.

Amid concerns raised in various quarters, the CBN had stuck to its guns, insisting there are no plans to shift the deadline, prompting some businesses to stop receiving the old series of affected denominations even ahead of the deadline for their return.

In a video from a media briefing held on January 24, 2023 after the apex bank’s Monetary Policy Committee (MPC) meeting in Abuja, CBN Governor, Godwin Emefiele, was quoted as saying: “I must say here that unfortunately, I don’t have good news for those who feel that we should shift the deadline. My apologies.

The reason is because just as the president has said on more than two occasions, and even to people privately, that for us, 90 days — in fact, we feel it’s 100 days — is enough for anybody who has the old currency to deposit the money in the banks.

“And we took every measure to ensure that all the banks were open or remain still open to receive all old currencies; 100 days, we believe is more than adequate…’’

However, the CBN had later revised its earlier stance, announcing a 10-day extension of the deadline for the use of old naira notes across Nigeria.

Emefiele, who disclosed he had received the approval of President Muhammadu Buhari for the extension, revealed that the new deadline is now 10 February 2023 instead of the former 31 January deadline, while adding that those who are yet to change their naira notes from the old to new ones, now have an opportunity to do so.

Furthermore, the CBN Governor had urged Nigerians to utilise the opportunity because the deadline will not be extended again. In the wake of this development, events had quickly escalated.

Nigerians had intensified the process of returning their old currencies to the banks, but the new/redesigned denominations were not so forthcoming or readily available, resulting in a scarcity that saw many resort to desperate measures.

Point of Sales (POS) terminal operators led the charge, hiking their service charges astronomically for the new denominations and even the old notes, blaming the excess charges on the difficulties they face in getting cash.

A few banks also had to shut down some of their branches as a result of insufficient cash to treat the deluge of visitors who throng the halls daily, some as early as the wee hours of the morning, in search of cash.

Some branches were also subjected to attacks by increasingly desperate customers. Owing to the associated pressure from a growing number of Nigerians who now sought refuge in online transfers, several bank apps consistently recorded failures, leaving many stranded and frustrated.

Mrs. Inuwa was one of the millions of Nigerians affected.

‘‘When I learnt of the deadline for the return of the old notes, I had immediately notified my family members and made plans to have all the affected denominations with me lodged in the bank even before the initial January 31 deadline.

“It proved to be a costly move as I was now virtually cashless and unable to access either the old currencies or the new notes. For five consecutive days, I had to leave the house very early to go and queue up at a bank in my vicinity, yet I was unable to withdraw any money.

“The queues were very long and before you know it, a representative of the bank would come out to announce that they have exhausted the cash sum for the day.

‘‘Patronizing the POS operators around me also proved to be another very costly venture. Some of them were charging as high as N1000 for N5000 worth of the old notes and even higher for the new notes. Transfers initiated to and from various commercial banking apps were also failing and at best, erratic.

“My kids could not go to school and my business was suffering. It was not just a frustrating experience but one of the worst times I have experienced.’’

Succour, however, came the way of Mrs. Inuwa when a friend of hers introduced her to KongaPay.

‘‘I had stumbled across KongaPay at a party late last year when one of my colleagues used it to process a transfer to the hosts. Back then, everyone had commented on how swiftly the transfer went through and the seamless experience.

“So, when my friend cited how KongaPay has helped her navigate the difficulties with cash scarcity and failing bank transfers, I saw light at the end of the tunnel.

‘‘It was very signing up for an account at www.kongapay.com and upgrading my account after complying with the KYC document requirements.

“Thereafter, I was able to not only say goodbye to the challenges of failed transfers, but I was amazed at all the other things I could do with my KongaPay account, including purchasing airtime, paying for DSTV bills, recharging my prepaid meter line, all without extra charges. It was indeed an eye-opener.

‘‘Most importantly, I have been able to pay my suppliers and resume my business after signing up as a merchant, while my children have also been able to return to school.

“Surprisingly, I have processed well over 90 transfers since I started using KongaPay in early February and I am yet to experience one failed transfer.

“I can also access and generate my statement of account with ease. It has been a gem of a discovery,’’ she concluded.

Launched in 2015, KongaPay debuted as a pilot product in partnership with Nigerian commercial banks in response to concerns expressed by customers about the confidentiality of their details while trying to make payment for products on the Konga website.

Since inception, the platform has grown immensely and under the drive of the new management of Konga, is leading the new-found appetite for digital payments among e-commerce patrons and other subscribers, processing tons of transactions on a daily basis.

KongaPay was recently identified as the leading provider of digital payment services for e-commerce transactions in Nigeria. The rating came from Statista, a globally renowned market and consumer data firm.


Kindly share this post

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

Telecom

Xenophobia: MTN Nigeria Belongs to Nigerians, Not Only South Africans — Toriola

Published

on

Kindly share this post

Karl Toriola, chief executive officer, MTN Nigeria, has stated that the telecom company is “a Nigerian company through and through,” emphasising that it belongs as much to Nigerians as to its global investors, with over 11 million Nigerians holding indirect stakes through pension funds.

Xenophobia: MTN Nigeria Belongs to Nigerians, Not Only South Africans — Toriola

Toriola also defended the federal government’s approval of telecom tariff adjustments, noting that the move helped prevent a financial crisis in the sector and enabled the company to ramp up capital expenditure to about N1 trillion in 2025 to improve network quality.

Speaking during an interview on Arise News, the MTN boss dismissed claims that the company is solely South African, despite its origins.

According to him, MTN Nigeria is incorporated locally, listed on the Nigerian Exchange, pays taxes in Nigeria, and is largely managed by Nigerians.

“We are labelled as a South African company because MTN Group was founded in South Africa. But the reality is that MTN Group has a very diverse global shareholding. Only about 50 percent of the shareholding is African, while the rest is held by investors from North America, Europe, the United Kingdom, the Middle East and Asia-Pacific,” he said.

Speaking further on MTN Nigeria’s identity, Toriola stressed the company’s deep roots in the Nigerian economy.

“MTN Nigeria is a Nigerian company through and through. We are domiciled in Nigeria. We are listed on the Nigerian Exchange. We pay all the taxes, duties and levies expected of us, and we are run by Nigerians.

“I am Nigerian. Apart from one executive, every member of our executive committee is Nigerian, while our entire expatriate workforce in Nigeria is just four people.

“We have over 201,000 retail investors, while about 11 million Nigerians own MTN shares indirectly through pension funds. We are very proud of our Nigerian identity,” he stated.

On the recent telecom tariff adjustment, Toriola said the increase was driven by necessity rather than profit motives, noting that operators were struggling to meet basic financial obligations before the review.

“People perceived the tariff increase as an aspiration for profitability, but the reality was that we were on our knees financially. We couldn’t even pay our month-to-month bills with the revenues we were generating. The tariff adjustment was an absolute necessity. It enabled us to stay alive,” he said.

He added that the improved revenue base has enabled MTN to scale up infrastructure investments to enhance service delivery.

“In the first quarter of this year alone, we spent N390 billion on capital expenditure, compared with a profit after tax of N359 billion. That shows our commitment to improving quality of service,” he said.

Addressing concerns over poor network quality, Toriola attributed the challenges to increasing demand, infrastructure gaps, vandalism, insecurity, and unreliable power supply.

“There are people who deliberately pour petrol into our manholes and set them on fire. A single incident can knock out services for millions of subscribers. We also face security challenges that prevent our engineers from quickly accessing some sites.

“In addition, we operate about 18,000 sites nationwide, each requiring generators, batteries, rectifiers and constant fuelling because of inadequate public electricity supply. All these affect quality of service,” he explained.

While acknowledging that service quality still needs improvement, he assured customers of continued investment.

“We are not perfect, but we are investing aggressively and continuously striving to do better,” he added.

On allegations that telecom operators deliberately deplete customers’ data, Toriola said findings often point to background data usage by smartphone applications.

“There is a perception that MTN goes and takes customers’ data, but our studies have shown repeatedly that background applications are consuming much of that data.

“I encourage customers to check their device settings. Daily automatic backups are unnecessary for many users. If possible, carry out backups over Wi-Fi instead of mobile data,” he advised.


Kindly share this post
Continue Reading

Telecom

MTN Nigeria Celebrates Volunteers at Y’ello Care Impact Showcase

Published

on

Kindly share this post

MTN Nigeria celebrated its 2026 edition of the 25 Days of Y’ello Care employee volunteerism initiative with an impact showcase held at the MTN Rooftop, Ikoyi, on Wednesday, June 24, 2026.

MTN Nigeria Celebrates Volunteers at Y’ello Care Impact Showcase

MTN Nigeria

This year’s edition saw employees move beyond financial donations to invest their time, skills, and even their blood [donations] into underserved communities across the country.

The impact showcase served as a reflection point on weeks of intensive outreach, including the recent medical intervention at Badore Market in Ajah, where traders received free screenings for hypertension, diabetes, and other non-communicable diseases which schools benefit from and many more.

Hundreds of market women, artisans, and residents benefited from on-the-spot consultations, medications, and health education sessions led by MTN staff volunteers.

In Lagos, the initiative brought critical health and wellness resources directly to the youth at Kuramo Senior College. Volunteers led intensive health awareness campaigns and structured medical outreach programmes, equipping students with vital information on preventive care and personal well-being.

Simultaneously, the regional execution extended to the nation’s capital to support the busy transit community at Utako Motor Park in Jabi, Abuja.

This regional activation targeted transport workers and commuters with the “Know Your Numbers” campaign, providing accessible basic health screenings, general wellness education, and essential medical checkups designed to promote long-term preventive healthcare.

Setting the tone for the ceremony, Ayham Moussa, Chief Operating Officer, MTN Nigeria, praised the dedication of staff volunteers who consistently showed up across the campaign’s field activations. “From day one, we said we don’t just give money we sacrifice, we put in the effort, we go to the field, and we even give our blood.

“Not many companies are doing what we are doing today. We are one of the very few making this kind of big impact,” he said.

Building on that sentiment, Odunayo Sanya, Executive Director of the MTN Foundation, celebrated the cultural shift the initiative has triggered both inside and outside the organisation. “The greatest takeaway from Y’ello Care is that it confronts you with your privilege and helps you channel that privilege in the right direction.

“Someone told me today that she never knew MTN would do these kinds of things in the market. We are changing the narrative of what MTN means to communities,” she noted.

The impact showcase ultimately reinforced that Y’ello Care is a sustained movement embedded in MTN Nigeria’s corporate culture. With healthier markets, empowered communities, and inspired employees as visible proof of impact, the company signaled that its commitment to equitable health and social good will continue well beyond the 25 days shaping a future where business and purpose remain inseparable.

 


Kindly share this post
Continue Reading

Telecom

Listicle: 10 Essential Meta Safety Tools Every Parent and Teen Should Know

Published

on

Kindly share this post

As teens spend more time online connecting, creating, and exploring their interests, safety needs to be built into their digital experiences.

Listicle: 10 Essential Meta Safety Tools Every Parent and Teen Should Know

To ensure safe, age-appropriate online experiences for teens, Meta has Teen Accounts to give parents more peace of mind and address their top concerns: making sure teens see age-appropriate content and don’t experience unwanted contact.

Here are 10 ways Teen Accounts are helping create safer and more positive online experiences for young people.

  1. Teen Accounts Are Private by Default: Teen Accounts automatically come with private settings enabled. This means teens must approve new followers, and people who don’t follow them cannot view or interact with their content. And with Teen Accounts teens under 16 need a parent’s permission to change any settings to be less strict.

  2. Stricter Messaging Controls Reduce Unwanted Contact: Teen Accounts are automatically placed in the strictest messaging settings, allowing messages only from people teens already follow or are connected to.

  3. Sensitive Content Is Limited Automatically: Teens are automatically enrolled in Teen Accounts and defaulted into 13+ age appropriate content settings, These settings help create a more age-appropriate experience by limiting exposure to sensitive content such as violence, graphic imagery or content promoting cosmetic procedures. Teens also won’t be able to follow, message or see accounts that regularly share age-inappropriate content, or whose profile photo, name or bio suggests the account may not be suitable for younger users.

  4. Protections Against Bullying Are Built In: Meta automatically enables its strongest anti-bullying protections for Teen Accounts. Hidden Words filters offensive language from comments and message requests, helping create a more positive experience.

  5. Tagging and Mentions Are More Controlled: To reduce unwanted interactions, teens can only be tagged or mentioned by people they already follow.

  6. Screen Time Reminders Encourage Healthier Habits: After 60 minutes of daily usage, teens receive reminders encouraging them to take a break from the app and spend time offline.

  7. Sleep Mode Supports Better Digital Wellbeing: Teen Accounts automatically switch to Sleep Mode between 10 PM and 7 AM, muting notifications and sending automatic replies to direct messages overnight.

  8. Parents Can See Who Their Teens Are Chatting With: While parents cannot read their teen’s messages, supervision tools allow them to view who their teen has messaged over the previous seven days, creating greater transparency while respecting privacy.

  9. Parents Can Set Time Limits and Usage Schedules: Parents can establish daily Instagram usage limits and block access during specific times, such as school hours, study periods, or overnight.

  10. Family Center Gives Parents Resources and Support: Meta’s Family Center brings all parental tools across Instagram, Facebook, and Messenger into one hub, so parents can manage and supervise their teen’s experiences more easily. Parents can also see the topics their teen has chosen to explore, and access expert-backed resources to help them have meaningful conversations about being online.
    Building Safer Digital Experiences Together

Teen Accounts are designed to help parents feel more confident about their teens’ online experiences while empowering young people to connect, create, and discover content in age-appropriate ways. Combined with parental supervision tools, Family Center resources, and digital literacy initiatives, Teen Accounts represent Meta’s ongoing commitment to creating safer online spaces for young people and their families.


Kindly share this post
Continue Reading

Trending