Telecom
Mobile Payment: Potential and reality for Nigeria
The ability to pay for goods and services without having to carry cash or cards has universal appeal. In Africa it is being driven by the need to reduce the risk of theft. The mobile is ideal because it is cheap and ubiquitous and can authenticate the payer and payee and record the transaction. The recent re-awakening of initiatives in the mobile and financial industry on mobile banking and payment services is causing a stream of field trials and potential new revenue streams and customers for the financial services sector.
The mobile payment industry will change the way consumers interact with financial services and make payments. Mobile financial services will include consumer accounts information, updates, alerts, bill payments, person to person transactions and remittances.
The mobile will play a key part in the foundation of sustainable development in Nigeria. In a country where electricity and transportation are unreliable, the mobile phone is a driving force for change – and not just for voice calls. Mobile phones can address one of the biggest cost barriers in the value chain.
The success of M-pesa in Kenya has demonstrated the strong compelling need for a platform that can empower Africans to make transaction cashless and without need to visit a Bank. Nigeria’s seeming slow uptake of mobile payment presents a huge opportunity that can revolutionize the payment world, create new set of mobile entrepreneurs and new Business models with strong value realization in a market of 54 million mobile subscribers and an addressable market of 140 million people.
The mobile phone is a powerful channel for developing business. The Banks can still not yet win the youth segment accounts because they are approaching them via traditional channel and not what they always have with them, the mobile phone. The youth segment will most likely adopt mobile payment faster than the older segment because they are early adopters of technology and the good news is that they constitute a large segment in the mobile subscription pyramid in Nigeria and still largely unbanked or under-banked. Simple arithmetic from total subscriber base in Nigeria, shows that 54 million mobile subscription base is twice the Bank account holders of about 24 million, this clearly shows a huge 30 million people out there with mobile phones but without a Bank account.
Nigeria financial industry players seeks elusive mobile technologies and standards but slow progress is being made towards achieving interoperable and transparent standards for mobile payments. The process is complicated by the large number of stakeholders involved, in addition to the challenge of integrating various business models and technology layers into one platform. Even the term ‘mobile payments’ has different definitions. While some Banks currently offering Mobile Banking are erroneously classifying their service as mobile payment even when the subscribers cannot do more than check account balance or transfer money between self account in same Bank.
Wizzit in South Africa, M-pesa in Kenya, Gcash in Philippines are country with similar demographics with Nigeria are examples of very successful mobile payments deployments.
Mobile operators are known not to be very adept in providing core payment and financial services, hence there is need for cross industry collaborations like what we have seen in the Glo / First bank cash card and the MTN / UBA x-change cards. Such collaborations is paying off in the mobile Banking arena in South Africa’s MTN and Standard Bank’s partnership. In South Africa, MTN, launched a SIM-based m-banking service with Standard Bank in a 50:50 joint venture, MTN MobileMoney. The Y’ello Bank, as it is often referred to after MTN’s pan-regional Y’ello branding campaign, operates as a separate division of Standard Bank, and as such is regulated under Standard Bank’s banking licence which brings compliance and interoperability to the rest of the payment infrastructure.
Many Nigerian Banks are evaluating different mobile payment systems from offshore providers but they are yet to learn from Africa’s own painful experiences in wap Banking. Offshore transfer of WAP banking technology was a disaster because an internet-based technology was applied to the mobile phone, resulting in an experience that was slow, unreliable and costly for consumers in a continent with expensive mobile internet cost, poor coverage, hand set limitations and inadequate customer education. Simpler technologies would have achieved more.
SMS text messages will continue to be the dominant channel for mobile payments, although take-up of WAP, USSD and near field communications (NFC) contactless services will also grow. NFC technology seems to be attracting attention of players in Nigeria because of its ease of use and the European Hype but they are not factoring the end user into the plan at this early stage. The main draw back for NFC is that users will require acquiring NFC enabled handsets and that will be a major obstacle in a economy where income per head is low and average Hand set replacement rate is four years.Near sound Data transfer technology of the likes of Tag attitude of France are clear bridge gap measures not requiring any form of new hand set acquisition from the end user and it is immediately compatible with all Phone models.
Already, informal exchanges of Mobile Airtime locally in Nigeria accounts for over 5 percent of airtime purchases and Banks might start losing market share if people find it more convenient to move money around and repay their debts, send little amounts to friends and relatives via this informal channel for small value payments.
A mobile payment system therefore needs to adapt its technology and business model to its specific target demographic and not the other way around. The potential for mobile payments, especially in emerging markets where many people are unbanked and few other payment options exist, is obvious. In developed countries, on the other hand, these types of services will likely appeal more as a matter of convenience and extension of the other payment options available, rather than as a replacement bank.
Mobile payment is not a problem of technology. It is the management of the ecosystems of players like Banks which lack the technology, telcos industry non collaborative positions and inadequate understanding of financial matters and lastly, regulations which does not take into consideration, the speed of technology innovation that will hinder the growth of the sector that is already striving underground though not illegally but informally.
Telecom
Minister Claims Bandits Exploit Poor Network, Bounce Calls Off Multiple Towers

Bosun Tijani, minister of Communications, Innovation and Digital Economy, yesterday claimed that bandits and terrorists are able to communicate and coordinate their activities with ease because they exploit gaps in the country’s telecommunications network.

Bosun Tijani, minister of Communications, Innovation and Digital Economy,
Tijani, who spoke Politics Today, a Channels Television’s programme, on Friday, Tijani said the criminals exploit gaps in the country’s telecommunications network.
He also claimed the bandits use advanced technology to bounce calls across multiple towers in areas with poor connectivity.
“They weren’t using the normal towers; they bounced calls off multiple towers, which is why they favor areas that are largely unconnected,” he said.
When asked about reports that unregistered or fraudulently registered SIM cards are still in use despite the Bank Verification Number (BVN) and the National Identification Number (NIN)–Subscriber Identity Module linkage policies, Tijani said the issue is technically complex and the reports are not fully verified.
“Whether it’s fact or not, I do not know where you’re getting that from, and I do not know who has evidence that there are people with unregistered SIMs,” he added.
The minister stated that the federal government is investing in telecom towers in underserved regions, upgrading the country’s communication satellites to improve coverage, and expanding fiber-optic networks to strengthen the country’s digital infrastructure.
“If our towers are not working, our satellites will work. Nigeria is the only country in West Africa with communication satellites, and we are bringing new satellites to upgrade their capabilities,” Tijani said.
He added that these initiatives aim to ensure better connectivity for Nigerians while closing loopholes that criminals exploit, thereby enhancing national security.
The minister’s comments come amid rising concerns over insecurity in several parts of the North, where banditry, kidnapping, and terrorism have escalated in recent years.
There are also reports of bandits flaunting ransom payments on social media platforms such as TikTok, raising alarm among authorities and the public
Telecom
Sophos XDR Achieves its Best-Ever Results in the MITRE ATT&CK Enterprise 2025 Evaluation

Sophos, a global leader of innovative security solutions for defeating cyberattacks, has announced its best-ever results in the MITRE ATT&CK Enterprise 2025 Evaluation.

MITRE ATT&CK Enterprise 2025 Evaluation
Sophos XDR detected 100% of adversary behaviors (sub-steps)1 across two complex attack scenarios: Scattered Spider, which Sophos X-Ops tracks as GOLD HARVEST, a financially motivated cybercriminal collective, and Mustang Panda, which Sophos X-Ops tracks as BRONZE PRESIDENT, a People’s Republic of China (PRC) espionage group.
The Scattered Spider scenario included activity across Windows, Linux, and AWS cloud environments, and the Mustang Panda scenario focused on Windows only.
Further, Sophos achieved the highest-possible “Technique”-level rating for 86 out of 90 total sub-steps in the evaluation, by generating high-fidelity detections with details on execution, impact, and adversary behavior, providing clear who, what, when, where, how, and why insights.
Sophos XDR achieved:
- 100% detection coverage1 for all 90 adversary sub-steps across two complex attack scenarios across Windows, Linux, and AWS cloud environments
- Highest possible (“Technique”) ratings for 86 of 90 sub-steps, demonstrating deep visibility and actionable detections
- Highest possible (“Technique”) ratings for 61 out of 62 of sub-steps in the Scattered Spider scenario involving identity abuse, cloud exploitation, and data exfiltration
“Scattered Spider and Mustang Panda represent distinct threat profiles that challenge defenders in very different ways,” said Simon Reed, chief research and scientific officer, Sophos. “Achieving full detection coverage against both validates the accuracy and depth of Sophos’ analytics and demonstrates how the company’s AI-native XDR platform converts complex telemetry into clear, actionable intelligence, helping security teams detect, understand, and stop advanced attacks with confidence.
“Sophos’ consistently strong performance in these rigorous evaluations underscores the power and precision of our threat detection and response capabilities, and our commitment to stopping the world’s most sophisticated cyberthreats.
“Over the five years that Sophos has participated in ATT&CK Evaluations, we have continually invested in strengthening our platform, and that investment has translated into stronger results year after year – both in the evaluations, and in the security outcomes we deliver for our customers.”
These results demonstrate the power of the Sophos XDR platform to defend against sophisticated cyber threats. Every day, Sophos processes 223+ terabytes of telemetry in Sophos Central, generating 34+ million detections and automatically blocking 11+ million threats.
This scale of customer insights ensures that Sophos’ detections are being tested and improved to provide continuous protection while delivering stronger outcomes for organizations worldwide.
Understanding The Threat Actors
Sophos X-Ops has tracked GOLD HARVEST (Scattered Spider) since 2022, observing a loosely affiliated cybercriminal collective driven by both financial motives and a desire to elevate their reputations on underground forums.
Despite several arrests, operators and associates continue to launch high-profile attacks across the U.K. and U.S., at times partnering with major Russian-speaking ransomware groups.
Their sophisticated social engineering capabilities enable them to compromise even well-defended organizations, underscoring the importance of strong behavioral detections within modern security operations.
In parallel, Sophos X-Ops has monitored BRONZE PRESIDENT (Mustang Panda) for many years.
This long-running PRC espionage group conducts intelligence-led operations that align closely with priorities of China’s Ministry of State Security. Recent targeting includes activity against Tibetan communities surrounding the Dalai Lama’s 90th birthday, as well as intrusions on Thai government and military offices during periods of heightened regional tension.
BRONZE PRESIDENT remains one of the most active and persistent state-aligned threat actors operating today.
MITRE ATT&CK Evaluations are among the world’s most rigorous independent security tests.
They emulate the tactics, techniques, and procedures (TTPs) used by real-world adversaries to assess each participating vendor’s ability to detect, analyze, and articulate threats in alignment with the MITRE ATT&CK Framework.
These evaluations continually strengthen Sophos’ capabilities for the benefit of the organizations it protects. This was the seventh round of MITRE’s “Enterprise” ATT&CK Evaluation, a product-focused assessment designed to help organizations better understand how security operations solutions like Sophos EDR and Sophos XDR can help them defend against sophisticated, multi-stage attacks.
When evaluating EDR or XDR solutions, Sophos recommends reviewing MITRE ATT&CK Evaluations alongside other independent proof points.
Telecom
CBN, NCC to Launch Short Code for Swift Consumer Complaint Resolution

Central Bank of Nigeria (CBN) on Thursday announced plans to partner with the Nigerian Communications Commission (NCC) to develop an industry-wide short code for consumers to lodge complaints with financial institutions anytime, anywhere, even without internet access.

CBN
Dr Aisha Isa-Olatinwo, CBN Director, Consumer Protection and Financial Inclusion Department, disclosed this at a virtual Consumer Protection Town Hall meeting titled “Ask the Regulator”, organised by Enhancing Financial Inclusion and Advancement (EFInA).
She said the initiative addresses challenges faced by vulnerable consumers using feature phones who often have to visit bank branches physically to report issues amid the convergence of telecom and banking services.
Isa-Olatinwo said the CBN had achieved 94 per cent month-on-month timely resolution of consumer complaints, adding that the apex bank had streamlined processes and partnered with banks to balance consumer protection with financial system stability.
An EFInA poll presented at the event revealed that 61 per cent of respondents experienced failed transactions in the past 12 months, while 26 per cent had reversals within 24 hours and 54 per cent between 24 and 48 hours.
Other complaints included six per cent for fraud, 14 per cent for hidden charges and 15 per cent for poor customer service, with 66 per cent of respondents aware of complaint escalation steps.
President of Consumer Advocacy Foundation of Nigeria (CAFON), Mrs Sola Salako-Ajulo, lamented that consumers often feel unprotected and urged introduction of fraud insurance for instant reversals, shifting the burden of proof from customers.
She said: “What is missing in our system—unlike more developed economies—is fraud insurance, where banks reverse reported fraud immediately, refund consumers, and investigate later.”
Mr Ajibade Laolu-Adewale, Chairman of Committee of e-Business Industry Heads (CeBIH), represented by Mr Adeyemi Salisu, stressed that banks must resolve disputes between acquiring and issuing banks without redirecting customers to merchants.
The short code initiative is expected to enhance financial inclusion by providing accessible redress mechanisms in Nigeria’s evolving digital payment ecosystem.
Telecom2 days agoMinister Claims Bandits Exploit Poor Network, Bounce Calls Off Multiple Towers
E-Financial2 days agoFIRS says MOU with DGFIP Won’t Compromise Nigeria Tax Data Sovereignty
News3 days agoFRC, ICPC Seal Anti-corruption Alliance
Telecom3 days agoMoMo PSB Brings Relief to UNILAG Students with Ultra-Cheap Bus Fares
News3 days agoDebt Rises in AI Data Centre Boom
General News2 days agoTop Nigerian Startups Secure Funding Boost @ iHatch Demo Day Awards
Telecom2 days agoGoogle.org Backs CyberSafe’s Resilio Africa to Shield 2m People from Cyber Threats
Telecom2 days agoCBN, NCC to Launch Short Code for Swift Consumer Complaint Resolution










