Connect with us

Telecom

Lagos FI Chapter Graduates 21, Changes to Stanbic IBTC-Founder Institute Lagos

Published

on

Kindly share this post

Founder Institute, Lagos Chapter, in its maiden edition of Velocity, graduated its first cohort of entrepreneurs, after a rigorous 14-week class.

The graduation ceremony which took place, on Saturday, November 16, 2019, at Victoria Island, Lagos, saw a huge the turn out stakeholders in the industry event.

The atmosphere at the Commerce House, where the graduation took place, was lit, as the graduates, (founders), start-up mentors, entrepreneurs, captains of industries, top bank executives and potential start-up founders all graced the occasion.

Delivering the welcome address of the day, Demola Sogunle, deputy managing director, Stanbic IBTC Bank, who was represented by Wole Adeniyi, executive director, Personal and Business Banking, Stanbic IBTC Bank, emphasised the role of technology, in enhancing business.

“Technology is about enabling business, making it easier and convenient, to make progress and just like what we are set to do daily, making progress with our customers is part of the alignment in several fonts”, Sogunle observed.

A cross-section of Mentors and FI Directors

The DMD expressed his delight, at being part of the Founder Institute project. “There are many other projects that can be done going forward; so many opportunities for growth and most important is, in adding value, but we take it a step at a time”, he emphasized.

“We are confident that, the start-ups have been empowered to deliver value. We are very proud to be part of the story and we believe that, you will do well”, added Demola, as he congratulated the graduates and the management of Founder Institute.

Delivering the keynote speech, John Obaro, founder, SystemSpecs and developer of Remita, the payment platform, titled his keynote address; “My 27 pence”. Obaro noted that, problems are opportunities, waiting to be unraveled, emphasising the need to fail forward, in pursuit of success. “According to Stanbic IBTC, over 80% of Nigerian start-ups fail, within their first five years”, he noted.

John Obaro, Founder, SystemSpecs, delivering the keynote address

 

Obaro expressed some valuable points in his keynote speech. Some of these include the following:

  • The need to get hungry, to provide a working solution and make an impact
  • The need to build a strong team
  • The power of focus, (identifying a clear problem and having a solution)

“There are too many “technologies” and “solutions” out there, looking for a problem to solve.”

  • The need for quality products and services
  • The need for brainstorming and balanced thinking
  • Building a good business policy, with values

“Be aware of trends and adapt your business models and practices, to suite the same. Relevance is the currency of the digital age. Consistently seek it – through innovation!”, stressed Obaro.

Obaro concluded by emphasising the need for the graduates, to collaborate as the partnership formed with others, will be used to harness strengths and extend the opportunity window.

There was, also, a panel session that had a discussion on start-ups and the Nigerian market.

Present among the panelists were, Onyema Akumah, Founder and CEO, Farmcrowdy, Peter Obadare, co-founder, Digital Encode, Tosin Faniro-Dada , Head, Lagos Innovate, LSETF and other guests.

Highlights from the panel discussion include:

  • The importance of business networking
  • Startu-ps collaboration with others
  • Creating platforms that would foster online and offline presence
  • The need for founders, to continue learning

21 Founders out of the initial 46 that started the class, graduated, in the first cohort of the Lagos Founder Institute Chapter.

They are Colord tees, Corrents, DiGita, Eazycheck, EscroWallet, Osteena Organics, LaborHack, Baller Zone, LaserPay, Lime start, Scrapays, Agenpo, Athlst, Cargo-L,Padimi, Paperloops, Rentit, Sabiteach,Tokeeto,Tres Melanin and Zowasel.

A cross-section of the founders, Mentors and FI Directors

They all presented their pitch, in the course of the event and got presented with certificates, at the end of the graduation ceremony.

It was announced by the Directors, that Founder Institute, Lagos, has been renamed, Stanbic IBTC-Founder Institute Lagos.

 


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

New Investment Fund Targets Acceleration of Emerging Technology in Nigeria

Published

on

Kindly share this post

The International Rescue Committee (IRC) has announced the formation of Airbel Ventures, a new humanitarian impact investing fund aimed at accelerating the introduction and scaling of breakthrough technologies in crisis-affected communities.

The fund will invest in companies whose ideas have the potential to change humanitarian response, including digital infrastructure for frontline health systems and climate-resilient agriculture.

The launch of Airbel Ventures follows a period of rapid innovation at the IRC, despite the humanitarian sector facing record funding cuts.

In the past year, the IRC’s Airbel Impact Lab has advanced more than twenty Artificial Intelligence (AI) and technology initiatives—from anticipatory action tools powered by climate and vulnerability data, to frontline service delivery using safe, orchestrated AI systems, to breakthrough diagnostic tools for emerging diseases.

Airbel Ventures’ first impact investment is in Signalytic, a company delivering solar-powered computing devices that ensure reliable electricity and connectivity for remote health facilities.

Following the investment, the IRC will pilot Signalytic’s technology with its Nigeria Health team, demonstrating the viability of next-generation digital infrastructure in humanitarian settings.

“We know breakthrough solutions already exist—what’s missing is the path to scale in humanitarian contexts,” said Dr. Jeannie Annan, Senior Vice President for Research & Innovation at the IRC and head of the Airbel Impact Lab.

 


Kindly share this post
Continue Reading

Telecom

MTN Nigeria Suffers 9,218 Fibre Cuts in 2025 as Vandalism, Theft Cripple Network

Published

on

Kindly share this post

MTN Nigeria, the country’s largest telecommunications operator, recorded a historic surge in network disruptions in 2025, suffering 9,218 fibre cuts as of December 31, alongside 211 base station sites affected by theft and vandalism, incidents that disrupted mobile and data services relied upon daily by millions of Nigerians.

MTN Nigeria Suffers 9,218 Fibre Cuts in 2025 as Vandalism, Theft Cripple Network

The data was revealed by Dr Karl Toriola, chief executive officer/managing director, MTN Nigeria via a social media post titled ‘MTN Nigeria 2025 Wrapped’.

The scale of the damage highlights the growing vulnerability of Nigeria’s telecommunications infrastructure, which has come under increasing pressure from road construction activities, cable theft and deliberate acts of vandalism.

MTN said 5,478 fibre cuts occurred within just the first seven months of 2025, with 760 incidents recorded in July alone, underscoring the intensity of the challenge.

Some of the incidents had wide-ranging consequences, knocking out connectivity across multiple states simultaneously and affecting voice calls, data services, digital payments and enterprise operations.

The company described the situation as a national infrastructure problem, rather than an isolated corporate issue, given the economy’s deep dependence on mobile networks.

“These gaps were shaped by real operational challenges such as fibre cuts, theft, and vandalism. Their impact is felt directly by customers and reflected in what they tell us,” Toriola,

The disruptions were reflected in customer feedback volumes, as MTN handled an unprecedented number of complaints during the year. The operator said it resolved 1,624,263 customer complaints in 2025, spanning call centres, social media platforms, emails and physical service centres nationwide.

Despite the setbacks, MTN pointed to signs of operational resilience. The company retained its ranking as Nigeria’s best network by Ookla, returned to profitability after a challenging period, declared an interim dividend, and expanded its subscriber base to over 85 million users by September 2025.

The figures show that while Nigeria’s telecom operators continue to invest heavily in network expansion and customer service, infrastructure sabotage remains a major drag on service quality and operating costs.

MTN acknowledged that performance improvements remain a work in progress. “We are not where we want to be yet. We see you. We hear you. We exist because of you. And we will get better,” Toriola said.

As the company enters its 25th year of operations in Nigeria, Toriola said MTN is doubling down on customer-centricity, treating every piece of feedback as a guide for improvement, while also stepping up engagement with government agencies.

The CEO renewed calls for stronger regulatory and legal protections for telecommunications infrastructure, urging policymakers to classify fibre cables, base stations and other critical assets as national infrastructure and criminalise vandalism to deter repeat attacks.


Kindly share this post
Continue Reading

Telecom

NCC Licences Six New ISPs to Challenge Telcos, Satellite Giants

Published

on

Kindly share this post

Nigerian Communications Commission (NCC) has granted operating licences to six new Internet Service Providers (ISPs), effective January 1, 2026, raising the total number of authorised ISPs in the country to 231 from 225 recorded in December 2025.

NCC Licences Six New ISPs to Challenge Telcos, Satellite Giants

NCC

The newly licensed firms are Intellvision Technologies Limited, Granet Technologies Limited, Fiber Sonic Limited, Dasol Solution Services Ltd, Boost ISP Limited, and Amazon Kuiper Nigeria Limited.

Five of these companies are headquartered in Lagos, while Granet Technologies Limited operates from Owerri in Imo State, highlighting the persistent concentration of broadband infrastructure in major commercial hubs like Lagos, Abuja, and Port Harcourt.

This development intensifies competition in Nigeria’s broadband market, which faces pressure from dominant mobile network operators such as MTN and Airtel, alongside rapid expansion by satellite providers like Starlink.

Traditional ISPs continue to grapple with shrinking customer bases, aggressive data pricing from telcos, and satellite disruptions, even as NCC data from Q2 2025 showed Spectranet, Starlink, and FibreOne controlling about 65 per cent of the 313,713 active ISP subscribers.

The inclusion of Amazon Kuiper Nigeria Limited marks a significant entry of global satellite broadband competition, building on Nigeria’s recent approvals for other low Earth orbit providers to enhance connectivity in underserved areas.

Industry analysts view the licences as a strategic push to improve internet quality amid rising demand for digital services, though geographic clustering underscores ongoing infrastructure challenges outside urban centres.

NCC’s move aligns with broader efforts to foster a competitive telecoms sector critical to Nigeria’s digital economy ambitions.


Kindly share this post
Continue Reading

Trending