Telecom
Mercury Bank Blocks Accounts Linked to Nigerian Startups, Others

American financial technology company, Mercury, has announced plans to terminate the accounts of businesses based in several countries, including Nigeria, effective from August 22, 2024.
This decision comes as part of revised eligibility criteria for opening accounts, recently updated by the company.
In a list posted on its website, Mercury has identified 15 African nations among 37 countries worldwide where it will no longer offer services. Countries such as Russia are also included in this list. Additionally, Mercury will cease serving companies whose founders hold passports from countries like Belarus, Cuba, Iran, North Korea, Syria, Ukraine, and Venezuela.
Affected customers received emails notifying them of the upcoming account closures. Mercury expressed regret for any inconvenience caused and assured support during the transition period, stating:
“We support U.S. companies founded by people across the globe as well as founders and venture capital firms. However, we currently can’t open accounts for founders living in the following countries and regions…”
Customers have been advised to take necessary actions before the August 22 deadline, after which access will be limited to viewing account documents.
The company did not provide detailed reasons for these changes in eligibility criteria. Oo Nwoye, a prominent voice in the Nigerian tech community, expressed concerns on social media about the potential impact on fintech startups in the country, tweeting, “Hopefully it doesn’t affect all those our Multi Currency startups.”
This move is not the first time Mercury has taken action against African tech startups. Founded in 2017, Mercury serves over 100,000 businesses, with a significant portion being startups.
In a previous incident in March 2022, the company faced scrutiny over its practices concerning foreign account openings through its partner, Choice Bank. The FDIC raised concerns about accounts being opened in countries deemed legally risky, prompting Mercury to shut down accounts of numerous African tech startups, including many from Nigeria.
At the time, Mercury did not provide clear explanations for its actions nor did it issue warnings to the affected startups until concerns were publicly raised within the African tech ecosystem. CEO Immad Akhund later clarified that the company was adhering to internal procedures in compliance with regulatory standards.
Mercury’s decision underscores ongoing challenges faced by international startups navigating U.S. banking regulations, impacting businesses across diverse global regions.
Telecom
NCC Bars Ex-Officials from Joining Telecom Firms for 5 Years

Nigerian Communications Commission (NCC) has introduced strict corporate governance rules that will bar its top officials from taking up roles in telecom companies they regulate until five years after leaving office.
Under the new Corporate Governance Guidelines for the Communications Industry, the Chairman, Executive Vice-Chairman, and Board Commissioners, both executive and non-executive, are barred from being appointed to any position in a licensed telecom company until five years after their exit from the Commission.
Similarly, Directors of Departments at the NCC face a three-year cooling-off period before they can take jobs with any licensee under the Commission’s supervision.
The move, announced on August 11, 2025, seeks to enhance transparency, accountability, and ethical standards in Nigeria’s fast-growing telecommunications industry.
Departmental directors face a three-year cooling-off period before joining any licensee under the agency’s oversight.
This policy aims to prevent conflicts of interest and ensure impartial regulation.
By creating a clear separation between regulators and the industry, the NCC hopes to curb undue influence and maintain public trust.
]The guidelines reflect a global trend in regulatory bodies enforcing cooling-off periods.
Similar measures exist in industries like finance and energy to safeguard against regulatory capture.
For Nigeria’s telecom sector, this is a significant step toward aligning with international best practices.
The NCC’s new framework also targets telecom operators’ internal governance.
Board chairmen or vice-chairmen are barred from holding executive powers or serving as MD/CEO of a licensee.
Former board chairmen and non-executive directors must wait five years before assuming executive roles in the same company or its affiliates.
Additionally, no more than two family members can serve on a licensee’s board simultaneously.
These measures aim to promote balanced board structures and reduce nepotism.
Dr Aminu Maida, executive vice-chairman, NCC, emphasised the importance of these reforms.
“Corporate governance is no longer a soft requirement. It is now a strategic imperative,” he said during the guidelines’ launch in Lagos.
Maida highlighted that robust governance correlates with better business performance, citing an NCC internal review. Companies with strong governance frameworks consistently outperform peers in service delivery, financial management, and regulatory compliance.
Nigeria’s telecom sector is a cornerstone of its digital economy. With over 222 million active mobile subscriptions as of Q1 2025, the industry supports critical sectors like finance, healthcare, and education.
However, challenges like cybersecurity threats, energy shocks, and rising consumer demands have exposed governance weaknesses. The NCC’s new rules aim to address these by fostering transparency, accountability, and innovation.
The guidelines apply to all communications companies holding individual licences and paying Annual Operating Levies (AOL) under the AOL Regulations 2022.
The NCC has indicated flexibility in applying the rules across different licence categories, with phased compliance measures to be communicated in writing. While the rules may cause short-term disruptions for operators, the NCC insists that long-term benefits, like improved service quality and market trust, will outweigh these challenges.
Telecom
Airtel, Vodacom sign Network Infrastructure Agreement to Drive Digital Inclusion

Airtel Africa and Vodacom Group have announced a strategic infrastructure sharing agreement in key markets including Mozambique, Tanzania and the Democratic Republic of Congo (DRC), subject to regulatory approvals in the various countries.
The agreement marks a transformative milestone in promoting digital inclusion and expanding access to reliable connectivity across Africa.
The initial partnership focuses on sharing fibre networks and tower infrastructure, to accelerate the roll-out of digital services in these markets, increasing connectivity for customers while reducing operators’ infrastructure costs and improving speed to market.
By leveraging existing infrastructure, the collaboration aims to deliver improved connectivity, faster internet speeds, and more reliable services. This will not only enhance customer experience but also assist with providing access to digital services for a broader population, particularly those in underserved areas, helping to bridge the digital divide in Africa.
Vodacom Group’s chief executive officer Shameel Joosub said: “Providing connectivity to empower people is at the core of our strategy. Our partnership with Airtel Africa is a proactive step forward in creating a sustainable, inclusive, and connected digital future for the continent.
Through infrastructure sharing, we can provide cost-effective services to more people, more rapidly, ensuring that no one is left behind in the digital age. As we fulfil our ambition to connect 260 million customers by 2030, the need for scalable and cost-efficient network solutions becomes increasingly significant.
This partnership provides us with the opportunity to narrow the digital divide, empowering more individuals and communities through digitalisation across the continent. It is aligned with our purpose to connect for a better future,” concludes Joosub.
Airtel Africa’s chief executive officer Sunil Taldar said: “This partnership is aligned with our unwavering commitment to delighting our customers by always making our network available to them even in the remotest locations.
“Working with Vodacom, we will open greater access to digital and financial opportunities which will transform the lives of our customers while complying with all regulatory requirements.
“Even as competitors, it has become a business imperative for us to collaborate in the provision of critical infrastructure required to build resilient network with strong capacity to support the emerging digital technologies as well as the growing need for data-enabled products and services.
“Accelerating the deployment of fibre connectivity is a key enabler in the acceleration of 4G and 5G technologies in Africa to deliver the high-speed, low-latency, and reliable connections needed for modern digital applications.
“This partnership allows for further opportunities for both operators to enhance network performance, extend coverage, and increase mobile, fixed, and financial services leveraging a broader footprint on the continent.”
Telecom
Truecaller Crosses 100m Users in MEA Region

Truecaller, a global caller ID and spam prevention platform, has reached 100 million active users in the Middle East and Africa (MEA) region, representing a 19% year-over-year increase.
According to the platform, the region’s main markets include Egypt, Nigeria, South Africa, Kenya, Algeria, Ghana, and Jordan.
Truecaller is routinely utilised on 20% to 45% of connected cellphones in these areas, including Android and iOS devices, according to the business.
The app has gained traction across the African continent with its concept of resolving communication issues for individuals and businesses by blocking unsolicited calls.
It has also collaborated with local businesses, forming major partnerships including a recent cooperation with Telecom Egypt to change consumer communication and experience by providing safe, customised, and seamless calling experiences.
Truecaller’s CEO, Rishit Jhunjhunwala, stated that the service has grown organically in markets such as MEA and India due to the mobile first environment, which uses a user’s mobile number as the primary identifier of calls. He under-lined that the MEA market provides a growth-enabling environment.
“We’re continuing to strengthen our organisation and our partnerships in the region, because we believe that the MEA is poised for significant growth for many years ahead,” said Jhunjhunwala.
- News3 days ago
Google Hit by AI-driven Cyber Attack
- General News3 days ago
Kuwait Busts Nigerian Cybercrime Ring Targeting Telecom Tower, Banks
- News3 days ago
FIRS Rolls out e-invoicing System for Large Corporate Taxpayers
- E-Business3 days ago
PalmPay Partners AXA Mansard Health to Make Digital Insurance Accessible, Affordable
- E-Business3 days ago
Zequence Digital Boss Calls for Strong IP Laws Enforcement, to Protect Nigeria’s Software Sector
- Telecom3 days ago
MTN Nigeria’s Mega Billion Promo Turns Airtime into Fortune for Thousands Amid Economic Strain
- E-Financial2 days ago
NBS Reports ₦6.72 Trillion VAT Haul as Tax Reforms Pay Off
- Telecom3 days ago
I see Crisis, Resignations @ MTN, Airtel, Others – Primate Ayodele