Telecom
LCCI President, Others Seek Adoption of Blockchain Technology to Drive Business, Regulatory
Mrs. Toki Mabogunje, president, Lagos Chamber of Commerce & Industry, LCCI, has urged Nigerians in private and public sectors to adoption Blockchain innovations to drive business, regulatory and governance processes.
Mrs. Toki Mabogunje, President, Lagos Chamber of Commerce & Industry, LCCI
She gave the advice at a webinar with the theme: “Unlocking the Opportunities of BlockChain Technology” on Wednesday in Lagos.
She said that the webinar was organized to deepen awareness of stakeholders about the noticeably benefits of adoption of Blockchain innovations
Mrs. Mabogunje said: “Nigeria’s participation in the blockchain technology global market, especially in cryptocurrencies, has been recognised.
“According to Chainalysis (the blockchain data platform), Nigeria has the 8th highest crypto adoption in the world and generally, blockchain could potentially contribute up to US$ 29 billion to Nigeria’s GDP by 2030.
“Unlocking these inherent potentials, requires a level-playing field for all participants in both private and public sectors by eliminating entry barriers.
“This does not, however, imply total liberalisation or allowing self-rule to regulate the Nigeria blockchain ecosystem,” she said.
She also noted that the proposed digital currency, e-Naira built on blockchain, would create employment for the teeming youth, financial inclusion, faster and safer digital transactions, and reduced transaction risks
She advised that regulation of blockchain should be dynamic, robust, responsive, globally competitive and fit for the Nigerian context.
“This will give fillip to the tech savvy youth to innovate, spur confidence of tech investors, and attract significant investments in the blockchain ecosystem,” she said.
Mr Uche Elendu, Chief Executive Officer, Appzone Switch, said that blockchain provided trust without human intermediaries, and auto execute contracts transparently.
Elendu listed the features of blockchain to include enhanced security, data immutability, transparency, privacy; and allowed peer to peer transactions without intermediary.
He called for massive stakeholder education and sensitisation, and the creation of platforms for traditional veterans to collaborate with tech entrepreneurs to unlock the value in the technology.
“Blockchain has governance and regulatory framework which ensures that security audits would be done on smart contracts to verify that their logic is in line with rules of business network.
“It is safe and secured, and is one of the biggest opportunities we can think of in the next decades.
“The proper implementation of blockchain technology would enable the cashless economy that the country has been trying to achieve,” he said.
Mr Ernest Mbenkum, Founder, Bantu Blockchain Foundation, charged entrepreneurs to embrace blockchain technology, particularly, the African development model, “Bantu for improved global payment and trade.”
Mbenkum revealed that the Bantu blockchain was designed to quickly and securely transfer, swap, and trade digital assets globally and at almost zero cost.
He noted that blockchain opportunities for Africa would dramatically increase local production and exports via asset tokenisation and reduce dependence on imports.
He said that another opportunity for Africa was in the need for an open, secure and transparent Africa led global infrastructure to unlock unlimited liquidity via resources and asset tokenisation and real time value transfer.
“Bantu is enabling a Pan-African market infrastructure that unifies the secure issuance, trading, settlement, clearing and custody of digital assets in all their manifestation and mutations in real time.
“This will unlock the capital trapped in the informal sectors of the economy which will positively impact the Gross Domestic Product (GDP) of the continent.
“With Bantu, we can tokenise agricultural commodities, infrastructure, raw materials, real estate and we need to support it to grow our own ecosystem,” he said.
At the recently concluded NextNow Business Forum in Victoria Island, MTN Nigeria electrified the business community with a live demonstration of its forthcoming Communication Platform as a Service (CPaaS), a solution engineered to redefine how Nigerian enterprises connect with their customers.
Unlike traditional communication systems, MTN’s CPaaS is built for the realities of a mobile-first market. The platform unifies SMS, voice, WhatsApp, email, and more into a single, intuitive interface. This approach is especially significant in Nigeria, with over 107 million internet users, 45.4% of the total population, according to Data Report. This figure underscores the necessity for businesses to meet customers where they are.
During the demo, attendees witnessed how CPaaS enables two-way, real-time conversations between brands and customers. The platform’s support for rich media, instant analytics, and seamless integration with business workflows drew particular attention. These features are designed to empower businesses with data-driven insights and the agility to personalise every interaction, whether it’s a service notification, marketing campaign, or customer support exchange.
Akinbulejo Onabolu, Head of Enterprise Segment at MTN Nigeria, articulated the vision: “CPaaS gives enterprises the flexibility to interact with their customers on their preferred platforms; whether it’s chat, voice, or messaging, in a way that feels personal and immediate. We’re looking forward to the value this will unlock for businesses across industries once it launches.”
The fireside chat added depth to the conversation, with Omowunmi Olatunbosun, Head of SME Segment at MTN Nigeria, and Stephen Agbi of Bayobab, highlighting how digital engagement bridges the gap between businesses and audiences.
They emphasised that today’s consumers demand immediacy, relevance, and ease, qualities that CPaaS is built to deliver.
The stakes for digital transformation in Nigeria are high. In a report by Punch, the country’s enterprise tech market is projected to reach $22 billion by 2027, reflecting a surge in demand for scalable, cloud-based solutions that drive efficiency and customer loyalty.
The CPAAS Acceleration Alliance have estimated that globally, the CPaaS market is expected to grow from $14.7 billion in 2025 to $72.4 billion by 2035, at a compound annual growth rate of 18.4%, a testament to the platform’s transformative potential.
The event’s closing keynote from META’s Korhan Yunak reinforced the strategic value of digital channels like WhatsApp, which are now indispensable for business communication and engagement at scale.
As MTN Nigeria prepares for the Q3 2025 launch, the anticipation is unmistakable. With its promise of flexibility, intelligence, and seamless integration, MTN’s CPaaS platform is set to become the backbone of next-generation business-customer engagement in Nigeria, enabling enterprises to not just communicate but to connect, adapt, and grow in a digital-first era.
MTN Uganda is seeking input from stakeholders on a plan to structurally separate its mobile money service, MoMo, from its core telecoms business.
According to the company, the proposed change will be discussed at the upcoming extraordinary general meeting on July 2.
If approved, the telco’s fintech business will be run by a new company controlled by MTN Group Fintech Holdings B.V. and a trust benefiting minority shareholders following a merger.
Additionally, the restructuring also aligns with MTN Group’s ambition 2025 strategy which aims to unlock value, attract new investors, and strengthen regulatory compliance by creating standalone fintech entities in Uganda, Ghana, and Nigeria.
The company’s fintech division has over 13 million customers, with an 18.4% revenue increase in the first quarter of 2025, driven by 19.0% growth in mobile money services, 19.8% growth in transaction volumes, and a 31.4% increase in transaction value.
Reports say the decision is part of the telco’s compliance with the National Payment Systems Act 2020, which mandates mobile money businesses to operate as standalone entities, and to align with MTN Group’s regional fintech strategy.
MTN Uganda, which is led by CEO Sylvia Mulinge, highlighted that the implementation of the proposed transaction will be subjected to a number of conditions and regulatory procedures.
“The implementation of the proposed transaction shall be subject to a number of conditions, including the company and MTN MoMo receiving all required regulatory approvals and no-objections and complying with any regulatory conditions,” said MTN Uganda in notice.
Netflix has announced plans to invest more than €1 billion in Spanish film and television productions over the next four years, reinforcing its commitment to Spain as a key creative hub in Europe.
The announcement was made by co-chief executive Ted Sarandos at an event held at Netflix’s production studios near Madrid, celebrating the company’s 10-year presence in the country.
Sarandos emphasized that the investment would contribute significantly to Spain’s economy, create jobs, and enable the streaming platform to produce more local content. He was joined by Spanish Prime Minister Pedro Sánchez in unveiling the initiative.
Netflix first established its international production studios in Madrid in 2019, following the success of the Spanish-language hit series Money Heist.
Since then, its 22,000-square-meter facility has become one of Netflix’s major production centers within the European Union.
The company currently supports over 20,000 jobs in Spain, highlighting the nation’s growing influence in global entertainment.
The investment reflects Netflix’s ongoing strategy to expand its presence in European markets through original content and local talent.
China Expands Zero-Tariff Trade for Nigeria, 52 Other African Nations
Sterling Bank Pledges ₦2bn to Fully Fund University Scholarships
MTN Nigeria Unveils CPaaS Platform to Transform Business Communication
Aliko Dangote Signs out @ Dangote Sugar Refinery as Chairman
Court Declines Access Bank’s Request to Freeze MTNN Account over N180Bn Claims
General News2 days agoAfDB to Provide $184.1mfor Africa’s Largest Solar Energy, Battery Storage Project
News2 days agoReport Reveals New Malware Posing as an AI Assistant Steals User Data
General News2 days agoCourt Declines Access Bank’s Request to Freeze MTNN Account over N180Bn Claims
Telecom3 days agongCERT Issues High Alert to Nigerians Using Android Phones
Telecom3 days agoMTN and Ecobank Launch Chess Championship to Empower Nigeria’s Youth
Telecom2 days agoMTN Mulls Establishment of Fintech Firm in Nigeria, Others
E-Business2 days agoFG Mulls Fibre Optic Layout to Bridge Internet Gaps
General News3 days agoOSGOF, NASRDA Partner to Boost Geospatial Data, Others