Telecom
MFS Africa Acquires Baxi, Expands into Nigeria

MFS Africa, has announced a signed agreement to acquire Nigeria’s super-agent networks, Baxi.

“Nigeria is home to one of the most dynamic markets on the continent; it is Africa’s largest economy and home to the largest number of SMEs. It is also the largest remittance market in Africa and home to one-third of intra-Africa remittance flows.”
MFS Africa’s presence in Nigeria to date has been limited given the country’s small number of mobile wallets. With the acquisition, MFS Africa will expand its pan-African network into Nigeria, connecting Nigerian businesses to the continent and the rest of the world.
“This deal is a pivotal step in our journey. By combining Baxi’s network of SMEs operating as agents with our pan-African network, we aim to take Nigeria’s SMEs to the rest of Africa and the world. Our expansion into Nigeria brings us one step closer in our mission of making borders matter less,” said Dare Okoudjou, MFS Africa founder and CEO.
Founded in 2014 by Degbola Abudu and Folu Majekodunmi, Baxi is one of Nigeria’s largest independent SME-focused electronic payment networks.
Baxi provides a cash-in/cash-out offering as well as value-added services including account opening, money transfer, bill payment, among others, to the last mile. Through its network of more than 90,000 agents, Baxi has already processed over $1 billion in transactions this year.
Following the acquisition’s close, MFS Africa will build Baxi into a key node on its digital payment network, allowing customers to make regional and global payments to and from Nigeria.
MFS Africa will also expand Baxi’s proposition for offline SMEs to select markets within MFS Africa’s footprint of 320 million mobile wallets across more than 35 African countries.
Previous restrictions to mobile network operators’ participation in mobile money services have restrained the sector’s growth in Nigeria.
To serve the more than 55% of Nigerian consumers currently excluded from formal financial services, Nigerian fintech that has built strong agent networks are the crucial interface to reach Nigeria’s 31,000,000 financially underserved and 67,000,000 financially unserved populations.
Supporting and nurturing SMEs is crucial to Nigeria’s economy, as they contribute 50% of Gross Domestic Product and provide 76% of jobs. With its presence in 36 Nigerian states, Baxi fills a critical gap by providing unbanked Nigerians and informal SMEs access to financial services.
The focus areas of both companies are complementary. Baxi simplifies and integrates online and offline payments for SMEs and merchants in Nigeria through its omni-channel distribution network. MFS Africa simplifies cross-border payments, integrating payments via one hub.
“We’re thrilled to partner with the MFS Africa team to expand our service offering for individuals and SMEs. We believe that we’ve barely scratched the market’s potential. Only 3% of Nigerian SMEs have access to credit products. By teaming up with MFS Africa, and with the strong support of our local commercial banking partners, we can offer more value-added products and services, such as cross-border payments, to support Nigerian SMEs in their growth,” said Degbola Abudu, Baxi CEO.
Following the acquisition of Beyonic in 2020, MFS Africa continues to accelerate and lift its growth with strategic investment and acquisition, which are actively supported by its shareholders. LUN Partners Financial and FT Partners served as financial and strategic advisors to MFS Africa in this transaction.
PWC Nigeria and Nihilent advised MFS Africa on Commercial, Product and Technological due diligence. Da Hui and TNP were legal advisors to MFS Africa. Baxi was advised by financial advisor Verdant Capital and DAI Magister. Their legal counsels were Udo Udoma & Bello-Osagie (UUBO) in Nigeria and Akin Gump Strauss Hauer & Feld LLP in London.
Telecom
Nigeria’s Internet Usage Hits 1.24m Terabytes – NCC

Nigerian Communications Commission (NCC) has said that Nigeria’s internet usage reached a record 1.24 million terabytes in November 2025.

According to the latest data from the NCC, the figure rose modestly from 1.235 million terabytes in October, reflecting steady growth in digital activity across the country.
Broadband penetration in Nigeria crossed the halfway mark in November 2025, reaching 50.58 per cent, up from 45.61 per cent in January, the telecoms regulator reported.
The figure, however, falls short of the 70 per cent coverage target outlined in the National Broadband Plan 2020–2025, which expires this month.
The country had roughly 109 million broadband subscriptions by November. Growth has been uneven, hindered by infrastructure and regulatory constraints, including frequent fibre-optic vandalism that triggers 30 to 43 network cuts daily, high right-of-way fees, and declining subscriber numbers earlier in the year.
Expansion of mobile networks, particularly 3G and 4G services, alongside limited 5G rollouts in urban centres, affordable smartphones, and competitive data plans, has driven uptake.
Investments in the National Communications Backbone and private-sector initiatives have also improved access, especially in underserved areas.
While Nigeria is gradually improving digital inclusion, achieving the original broadband plan remains challenging due to high infrastructure costs, coverage limitations, and deployment hurdles.
The NCC maintains that continued investment in mobile networks and broadband infrastructure will sustain gradual growth in the sector.
Commenting on the development, some Nigerian analysts attributed the surge to the broader mobile and broadband adoption and the growing appetite for streaming, online learning and other digital services.
According to the analysts, the figures suggest that internet connectivity is no longer a luxury but a necessity for both business and leisure, underscoring the slow but steady expansion of Nigeria’s digital economy.
Telecom
NCC Ranked Among Top 3 MDAs for Best Website Performance in 2025

Bureau of Public Service Reforms (BPSR) has named the Nigerian Communications Commission (NCC) among the top three Ministries, Departments and Agencies (MDAs) of the Federal Government with the Best Ranking in Website Performance for 2025.

L-R: Head Special Projects, Nigerian Export Promotion Council (NEPC), Salamatu Andu; Executive Commissioner, Technical Services, Nigerian Communication Commission (NCC), Engr. Abaraham Oshadame; Director General Bureau of Public Service Reforms (BPSR), Head Customer Support Service, Galaxy Backbone, Rosemary Ehize; Secretary to the ES. Nigerian Content Development and Monitoring Board, Tahir Aminu at the BPSR award ceremony for top four MDAs in BPSR Website Performance and Ranking 2025 at the BPSR office on Tuesday, 23rd December, 2025.
This is coming barely three weeks after the telecom regulator was recognized as one of the top five best-performing Federal Government agencies for 2025 by the Presidential Enabling Business Environment Council (PEBEC) – a testament to the Commission’s consistency in investment in technology for ensuring efficient service delivery.
In the BPSR 2024/2025 scorecard ranking of agencies’ websites, the NCC came second in the ranking, trailing behind Galaxy Backbone Limited, which came first while the Nigeria Export Promotion Council (NEPC) clinched the third position, from a pool of 235 MDAs, whose website were evaluated.
BPSR deployed 14 evaluation criteria in include MDA’s website compliance with .gov.ng domain name, appearance and aesthetics (look and feel) of the website, content, relevance to MDAs mandate/government policy and the website’ structure.
Others include website’s responsiveness (device compatibility), security, load time, usability/ease of navigation, availability/uptime, functionality, interactivity, accessibility and capacity building.
The recognition was announced at the official release of Federal Government 2024/2025 Scorecard Ranking for MDAs’ Website held at the Federal Ministry of Finance Auditorium in Abuja on Monday (December 22, 2025) while the award presentation took place at BPSR’s Office on Tuesday (December 23, 2025).
The award, which is an important index metric of the National e-Government Masterplan for determining the Nigeria e-Government Status, was received by the Commission in recognition of its commitment to maintaining a world-class website that enhances service delivery to the citizens.
Receiving the award on behalf of the Executive Vice Chairman of the NCC, Dr. Aminu Maida, the NCC’s Executive Commissioner, Technical Services, Abraham Oshadami, appreciated the BPSR for the recognition, describing the award as “another encouragement for the Commission to be a better public service institution leveraging digital platforms such as our web presence to enhance public service delivery to our various stakeholders, thereby implementing the Federal Government’s Ease of Doing Business policy direction.”
While presenting the award to the NCC, alongside other two agencies, BPSR’s Director-General, Mr. Dasuki Arabi, commended the top three for their proactive decisions in maintaining world-class websites, which are compliant with the Federal Government’s policy direction in effective and efficient service delivery to the citizens.
According to the DG, the 2024/2025 MDA’s websites’ ranking represents a collective effort of federal public institutions in Nigeria to be transparent, accountable and open in governance, as well as a confirmation to align with global best practices in service delivery to the citizens.
Developed about six years ago, Arabi said as a result of the annual ranking, more public institutions have indicated readiness to embrace reforms, and align with the policy direction of the current administration’s Renewed Hope agenda on improve governance for effective service delivery, as introduced by His Excellency President Bola Ahmed Tinubu.
“The ideals of harnessing and deploying technological tools for service delivery has become imperative following the COVID pandemic, and distortions of socio-economic system of nations, culminating in the evolution of competitiveness, cost effectiveness, and agile governance.
“As engine room of governance, it behoves on us in the public service to perform our statutory duties and we must put in place technological innovations and standardized websites to operate services as well as deliver service needs to citizens,” he said.
The Scorecard exercise, he said, is part of the BPSR reform broader function of conducting research on reform implementation efforts and presenting ‘best practice’ models to the entire Public Service, and to among others, improve access to government information, facilitate seamless financial transaction, eliminate corruption and cyber theft, as well as facilitate access to government services.
Speaking on the rigorous nature of the exercise that produced the top three winners, the DG said “in the past few weeks members of the Scorecard Jury drawn from inter-Ministerial Agencies, had worked tirelessly to mill websites of selected MDAs through a rigorous process of enduring criteria for the ranking and the outcome had also passed through a quality assurance mechanism to validate the outcome.”
Telecom
Oyedele Dismisses Claims Bank Accounts Without TIN Will Be Frozen

Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, has dismissed reports that bank accounts not linked to a Tax Identification Number (TIN) will be frozen or automatically debited from January 1, 2026.

Taiwo Oyedele
Oyedele described the claims as false and misleading, warning Nigerians against panic over misinformation surrounding recent tax and financial reforms.
In a post on his X handle Tuesday morning, he wrote: “Don’t let anyone manipulate you. Your bank account is safe. Misinformation makes you panic and fear a reform that is designed to help you.
“When they tell you that your account will be frozen or automatically debited from January 2026, ask them for the evidence in the new law. Be wise.”
He stressed that no provision in the new tax laws authorises the freezing of bank accounts, adding that the rumours are part of widespread misrepresentation of the reforms.
The committee chairman reiterated that the reforms are intended to simplify Nigeria’s tax system and ease the burden on ordinary citizens, not to impose punitive measures on bank customers.
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