News
Mastercard Partners JAN to Empower Young Digital Entrepreneurs

Mastercard has gone into a partnership with the Junior Achievement Nigeria (JAN) to help bridge the digital and financial literacy gap among school students and young adults in Nigeria.

A statement by JAN explained that through a series of programmes, the students would be equipped with essential skills to prepare them for future success as digital entrepreneurs.
The statement also noted that JAN is part of Junior Achievement Worldwide, the world’s oldest and largest non-profit economic education organisation operating in 120 countries.
It further stated that the partnership forms part of Mastercard’s global commitments to connect 25 million women entrepreneurs to the digital economy, reach 50 million small businesses and financially include one billion people in the next five years.
It stated that leveraging the expertise of Mastercard employee volunteers, the partnership with JAN would inspire young adults across Nigeria through three unique activations:
“Mastercard Girls4Tech Programme: An inquiry-based STEM (Science, Technology, Engineering and Math) programme, Girls4Tech inspires young girls to build the skills they need in STEM to become problem solvers and the leaders of tomorrow, thereby expanding the employment pool for women STEM professionals in the future.
“The programme incorporates Mastercard’s deep expertise in payments technology and innovation, and includes topics such as algorithms, digital convergence and cryptology.
“JA Company Program teaches senior secondary level students how to start and run their own business, develop a product or service, and market their brand. Mastercard employees will volunteer as mentors to the six finalist teams (companies) who emerged from JAN’s Virtual Company of the Year competition, by helping them refine their business proposals as they compete for the National Company of the Year Award.”
It further stated: “Together, Mastercard and JAN will educate over 200 young adults on the future of payments in Nigeria. Participants will range from senior secondary students to National Youth Service Corps (NYSC) members. This session will enlighten the next generation on their role in building and driving the digital economy through technology.
“The partnership will also see the first Junior Achievement – Mastercard prize awarded to the most outstanding student company during the virtual edition of the National Company of the Year (NCOY) competition.”
Ifeoma Dozie, director, Marketing Communication, Sub-Saharan Africa, Mastercard, said creating inclusive, equal opportunities is a key priority for Mastercard.
She also noted that through the partnership with JAN, they are able to broaden their commitment to Nigeria’s next generation of women leaders and young entrepreneurs.
“By encouraging students to embrace subjects and mentoring them through challenges that will prepare them to be part of tomorrow’s workforce, we are collaborating to develop a talented supply of skilled professionals to aid the country’s future economy,” she added.
While commenting on the partnership, Oduolayinka Osunloye, director of Marketing and Innovation, Junior Achievement Nigeria, expressed appreciation to MasterCard, while adding that the partnership is a huge step in achieving JAN’s vision of developing 1 million digital entrepreneurs over the next five years.
News
Ogbaga, Abuja Lawyer to Sue Telcos, DStv over Alleged Unfair Practices

Ogba Ogbaga, an Abuja-based lawyer, has said that he has been instructed to institute legal proceedings against MTN Nigeria, Airtel Nigeria, Globacom, 9mobile and MultiChoice Nigeria, operators of DStv, over what he described as unfair consumer practices relating to expiring data bundles and television subscriptions.

In a statement posted on Facebook, Ogbaga said his law firm, GIMBG Legals, received instructions from its client, KAA, also known as KaaTruths, to challenge the companies’ subscription policies in court.
According to him, the proposed suit will question whether telecom operators and DStv’s subscription models comply with provisions of the Federal Competition and Consumer Protection Act (FCCPA) 2018 and other applicable laws.
Ogbaga alleged that telecom providers operate internet data services that are unfair to consumers, claiming subscribers sometimes do not receive the services they paid for but still lose their subscriptions once the validity period expires.
He also criticised DStv’s subscription model, arguing that consumers lose paid viewing time due to factors such as power outages, adverse weather conditions and service interruptions, while subscriptions continue to count down regardless.
“Our clients have complained that MTN data services are unduly one-sided,” Ogbaga said, adding that the legal action would also extend to other telecommunications providers and DStv.
He said the court action would seek judicial determination on whether the companies’ subscription practices comply with consumer protection laws.
The lawyer also invited interested legal practitioners to collaborate on the case, saying his firm would provide updates as the matter progresses.
In a separate Facebook post on Wednesday, Ogbaga said previous policy discussions, town hall meetings and debates at the National Assembly had failed to address the concerns raised by consumers.
He argued that telecom operators regularly carry out maintenance and network upgrades that temporarily disrupt services without extending customers’ subscription periods, while DStv subscribers also lose viewing time because of electricity outages and weather-related disruptions.
News
NAICOM Issues New Licences to 43 Recapitalized Insurers

The National Insurance Commission (NAICOM) has commenced the issuance of new licence certificates to insurance companies that successfully met the industry’s new minimum capital requirements, marking the formal beginning of a new regulatory era aimed at strengthening the financial capacity, governance and global competitiveness of Nigeria’s insurance sector.

At a ceremony held at the Commission’s headquarters in Abuja, the Commissioner for Insurance, Olusegun Ayo Omosehin, presented the new licence certificates to compliant operators, describing the exercise as a major milestone in the industry’s recapitalisation programme.
According to the Commission, a total of 43 insurance companies declared compliant with the new capital requirements are expected to receive the new licence certificates in phases.
Omosehin congratulated the successful companies, saying the issuance of the new licences signals the beginning of a stronger regulatory framework anchored on improved capitalisation, sound corporate governance, innovation and sustainable growth.
He urged operators to leverage their enhanced capital base to develop innovative insurance products, improve operational efficiency and deepen insurance penetration across the country.
The Commissioner said the Commission expects the recapitalised companies to deliver stronger financial performance while maintaining high standards of professionalism and customer service.
He also announced that NAICOM’s next major regulatory initiative would be the implementation of the Risk-Based Capital (RBC) framework, under which insurers’ capital levels would be aligned with the risks inherent in their respective business portfolios.
According to him, the new framework will further strengthen the industry’s resilience by ensuring that insurers maintain capital commensurate with the risks they underwrite, thereby enhancing policyholder protection and boosting market confidence.
Omosehin reaffirmed the Commission’s commitment to removing regulatory impediments where necessary while maintaining effective oversight to safeguard policyholders and strengthen confidence in the insurance market.
The issuance of the new licence certificates marks the commencement of a phased transition to higher capital standards aimed at improving the financial capacity, solvency and claims-paying ability of insurance companies operating in Nigeria.
News
Nigeria CommunicationsWeek Retracts Story on Pan African Towers Litigation

Management of Nigeria CommunicationsWeek Media has withdrawn its publication titled “Adefolarin Ogunsanya and the Allegations of Shareholder Interference and Self-Dealing at Pan African Towers,” which was published on its platform.

The decision to retract the story follows an editorial review to ensure that the platform maintains the highest standards of accuracy, fairness and responsible journalism in reporting matters that are the subject of ongoing judicial proceedings.
Nigeria CommunicationsWeek acknowledges that the issues raised in the publication remain before the courts and have not been finally determined.
Accordingly, the organisation has decided to remove the article from its platforms pending the conclusion of the legal processes or the availability of additional verified information.
The publication regrets any inconvenience or misunderstanding the report may have caused to readers or any individuals or organisations mentioned in the story.
Nigeria CommunicationsWeek remains committed to the principles of balanced, factual and ethical journalism and will continue to uphold professional standards in its coverage of judicial and corporate governance matters.
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