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Mobile Phones to Ring Naira from June

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Mobile Money: the face of things to come
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Nigeria is at the threshold of Mobile Money Transfer and Payment (MMTP), a new revolution that is potentially more profound than the arrival of mobile phones in the country but this time sweeping and exponential, Nigeria CommunicationsWeek can now reveal.
Hailed as the next big thing, mobile payment industry will change the way consumers interact with financial services and make payments and the major plank will be the mobile phone.
With only 22 million bank accounts and less than10, 000 bank branches for 140 million citizens, mobile payments will reach over 80 million mobile phone holders and millions of others that do not have access to formal financial services in urban and rural areas.
Emmanuel Okoegwale, chief executive officer of Africa Center for Mobile Financial Inclusion (ACMFI) said that “mobile payment revolution that is currently sweeping across the African continent will berth in Nigeria in coming months if not weeks”
ACMFI is at the fore front of pioneering mobile financial inclusion in Nigeria and Africa and seeing the challenges ahead for potential players
According to Okoegwale, mobile financial services will include consumer accounts information, updates, alerts, bill payments, person to person transactions and remittances.
Central Bank of Nigeria (CBN) is expected in June this year to start issuing more mobile payment licenses to operators which are expected to leverage on the ubiquity of the mobile phone and the interoperability of the technology to provide easy to use and secure mechanism for millions of people nationwide.
MoneyBoxAfrica, a mobile saving and payment platform became the first M–payment licencee in the country in 2009 but is yet to activate the licence.
Nigeria CommunicationsWeek recalled that Mr. Abayomi Atoloye, acting director of Banking Operation at the apex bank had in January, said that the CBN has set up a payment policy and oversight office which is to recommend operators that would be granted licenses to handle all issues concerning mobile payment system.
Already queuing for the licenses are Eartholuem Networks promoted by Bola Adeyinka and Peter Afam Emeleogu and Mobile Media Info Tech limited (MMIT) led by Jide Akindele.
Others are Mtech Communications, leading mobile Value Added Services (VAS) company listed on the Nigerian Stock Exchange (NSE); Ingres Quality Rollout, a Telecom/IT consulting firm which specializes in Telecom/IT service delivery and infrastructure development led by Chidiebere Anosike; Pagatech piloted by team of Jay Alabraba, Tayo Oviosu, Aisha Bello and Phillip Uwamurogie and Celltrust which is based in Abuja and has Samuel Ucheagha overseeing its operations.
Others in the race for partnerships but not seeking licenses of their own are M-Naira promoted byJohn Enoh and MyPesa led by Femi Alla.
Nigeria CommunicationsWeek could not ascertain what the likes of Tagattitude led by Femi Akinware, UBA Bank and GTB are up to as at the time of going to press.
What is however clear is that each licensee must meet CBN conditions including having minimum paid up capital of N500 million.
It is also clear that some potentials players will be granted provisional approval in June to commence pilot projects to enable the CBN evaluate the workability of the system using global acceptable standards.
Okoegwale said that there is really huge market for mobile payment if operators can get it right.
“In Nigeria 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” he added
The success of M-pesa in Kenya (over 2 million users) has demonstrated the strong compelling need for a platform that can empower Africans to make transaction cashless and without need to visit a bank.

 


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Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

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UK Appoints Peter Vowles as British High Commissioner to Nigeria

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The UK Government has announced the appointment of Mr Peter Vowles as the next British High Commissioner to the Federal Republic of Nigeria.

Mr Vowles succeeds Dr Richard Montgomery CMG and is expected to take up his post in Abuja in September 2026. Dr Montgomery remains in post until that time.

Mr Vowles brings extensive diplomatic and development experience to the role, having served as His Majesty’s Ambassador to Zimbabwe from 2023 to 2026 and previously as Ambassador to Myanmar from 2021 to 2022.

He has held senior leadership positions across the FCDO and its predecessor department DFID, including as Transformation Director and Director for Asia, Caribbean and Overseas Territories.

Earlier in his career, Mr Vowles worked in international development across South Asia, Central Africa and East Africa, including postings in Bangladesh, India, the Democratic Republic of Congo and Kenya. He began his career in Zimbabwe, where he worked in education and development.

Peter Vowles said: “I am honoured to be appointed as British High Commissioner to Nigeria. Nigeria is a country of immense importance to the United Kingdom, and I look forward to working closely with Nigerian partners to strengthen our relationship across trade, development and security.”


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Nigeria’s Apapa, Tin Can Ports Make Global Top 20 Improvement List

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World Bank has ranked the Apapa and Tin Can Island Port complexes in Lagos among the world’s 20 most improved ports in its 2025 Container Port Performance Index (CPPI), released in June 2026.

Nigeria’s Apapa, Tin Can Ports Make Global Top 20 Improvement List

The ranking places both ports in the “Top 20 Port Improvement Since 2020” category, reflecting significant gains in operational efficiency and vessel turnaround time.

The CPPI is a global benchmark used to assess the efficiency of container ports based on factors such as cargo handling speed, ship turnaround time and overall logistics performance.

According to the report, the improvement highlights ongoing reforms and modernization efforts within Nigeria’s maritime sector.

The Managing Director of the Nigerian Ports Authority (NPA), Mr Abubakar Dantsoho, attributed the recognition to ongoing policy reforms and infrastructure upgrades in the sector.

He said the development reflects the impact of economic policies of President Bola Tinubu and the support of the Minister of Marine and Blue Economy, Mr Adegboyega Oyetola.

“With the investor-friendly policies of President Bola Ahmed Tinubu providing the impetus for increased investment to drive our port infrastructure and equipment modernisation programme, coupled with the unflinching support of the Honourable Minister of Marine and Blue Economy, Adegboyega Oyetola, we have all it takes to further enhance trade facilitation, improve competitiveness and boost the national economy,” he said.

The NPA said the recognition is expected to strengthen investor confidence in Nigeria’s maritime sector and enhance the country’s position as a regional trade and logistics hub.

It noted that improvements in port operations are already contributing to increased efficiency in cargo movement and reduced delays at key terminals.

The authority also pointed to ongoing efforts to modernise port infrastructure and expand digital systems aimed at improving service delivery.

Earlier in February 2026, the NPA said the federal government had intensified efforts to position Nigeria as a leading maritime destination through port rehabilitation and modernization projects.

It also highlighted public-private partnership initiatives, including developments at the Lekki Deep Sea Port, as part of broader reforms aimed at improving efficiency and attracting investment.

The CPPI ranking is expected to further boost Nigeria’s maritime profile and encourage additional investment in the sector.


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PalmPay Joins Industry Leaders @ Digital Pay Expo 2026

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As digital payment adoption continues to grow across Nigeria and emerging markets, the next phase will depend not just on innovation, but on the strength, reliability, and trustworthiness of the infrastructure behind it.

While the ecosystem has made clear progress in recent years, trust remains a critical issue for users, businesses, and operators alike. Questions around resilience, security, interoperability and transaction reliability continue to shape how the market evolves and how confidently digital payments can scale.

These issues will be central to the deliberations at Digital Pay Expo 2026, where fintech leaders, payment operators, and other ecosystem stakeholders will gather under the theme, “Seamless Digital: Fostering Pan-African Market Expansion in the Era of AI.”

PalmPay’s participation reflects its continued commitment to building trusted and scalable payment infrastructure, while contributing to the broader industry efforts to strengthen systems, standards, and partnerships needed to support long-term ecosystem growth.

Speaking ahead of the event, Olorunfemi Hanson, Head of Marketing and Communications at PalmPay Nigeria, said: “As the financial services ecosystem continues to grow, trust and reliability become even more important.

“The industry’s next phase will be shaped not only by innovation, but by the strength of the infrastructure supporting it. Digital Pay Expo provides an important platform to address the resilience, interoperability, and trust issues that will shape the future of digital payments growth across Africa.”

The event, scheduled to be held from the 17th to the 18th of June, 2026, will feature Chika Nwosu, Managing Director of PalmPay Nigeria, alongside other distinguished guests, including the Director-General, Payment System Management Department (PSMD), Central Bank of Nigeria. The event will examine how the industry can balance innovation, regulation, and scalability while strengthening trust across the digital payments value chain.

For PalmPay, this event reinforces its role in supporting a more resilient, secure and scalable payments ecosystem for Nigeria and emerging markets more broadly.


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