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MoMo Organises Symposium and Exhibition to Accelerate SME Growth in Nigeria

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MoMO PSB
L-R: Emmanuel Akhigbe, Manager, Merchant Channel, MoMo PSB; Chioma Nwahiri, Head, Go-To-Market & Customer Acquisition, MoMo PSB; Adejumoke Abolade, Partner, Corporate Account, MoMo PSB; Alhaji Nurudeen Buhari, President, LASCOTA; Nnebuogo Egboh, Director, Corporate Retention, Royal Certification Limited and Consultant to NASME and Solomon Aderoju, Vice President, South West, NASME at the MoMo X NASME Symposium and Exhibition, which held at Landmark Centre, Plot 3/4 Water Corporation Road, Victoria Island, Lagos Nigeria on November 17, 2023.
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MoMo PSB in partnership with the Nigerian Association of Small and Medium Enterprises (NASME) hosted a two-day symposium and exhibition on empowering nano and small businesses in Lagos State.

MoMO PSB

The event which was held on November 17 and 18 2023 at the Landmark Center Lagos, hosted a myriad of SME and trade Associations in Nigeria, including, the West African Association for Cross-Border Trade, in Agroforestry-pastoral, Fisheries Products and Food (WACTAF), Lagos State Council of Tradesmen and Artisans (LASCOTA), Nigerian Association of Small Scale Industrialists (NASSI), Coalition Network of Stakeholders in Agricultural Mechanisation (CONESAM), Small and Medium Enterprise Development Agency of Nigeria (SMEDAN), Royal Certification Limited and the Federal Ministry of Women Affairs.

In her opening remark, Elsa Muzzolini, Chief Commercial Officer, MoMo PSB, emphasised the significance of collaboration in expediting SME growth in Nigeria. “At MoMo PSB, we believe in co-creation and designing solutions that directly address the needs of our customers. Our partnership with NASME on the symposium and exhibition underscores our dedication to empowering nano and small businesses across Nigeria with MoMo solutions for merchants and customers.

MoMo for merchants started as a simple USSD solution for transactions and has evolved to a merchant application that caters to smartphone users, enabling transactions with or without internet connectivity.”

The event included training sessions fostering knowledge sharing between experienced coaches and SMEs. The topics covered a range of subjects such as finance management, compliance, security, and controls tailored to SMEs, along with discussions on harnessing digital tools for business expansion. Additionally, businesses from diverse industries showcased their products, aiming to gain more visibility and boost sales during the event.

“I am honoured to be part of this collaborative effort between MTN MoMo and NASME, symbolising a commitment to fostering growth, innovation, and connectivity within Small and Medium Enterprises”, said, Solomon Aderoju, Vice President, South West, NASME, who represented the president at the event.

He further spoke to the mutually beneficial nature of the exhibition saying, ‘This initiative aligns with the ‘One Billion Naira Youth and Women Empowerment Fund’ in achieving the Sustainable Development Goals for 2023. The overarching purpose of this event is to introduce and familiarise the NASME community with the MTN MoMo wallet and products, bridging the gap between innovative financial solutions and the dynamic needs of the SMEs.”

The event provided a comprehensive assessment, enabling the MoMo team to gain deeper insights into the specific requirements of SMEs. This analytical approach is expected to aid the fintech in addressing the needs of SMEs, ensuring a more seamless and tailored business transaction experience through the MoMo PSB.

Furthermore, the event was instrumental in introducing SMEs to the MoMo N40 Million Grant initiative. This program is designed to incentivise active merchants who actively transact on their MoMo wallet. The grant will encourage increased engagement and participation among SMEs while fostering a mutually beneficial relationship between MoMo PSB and its users. This strategic effort solidifies MoMo’s commitment to supporting and empowering SMEs within the business landscape.

 


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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NCC Orders Telcos to Report Cyberattacks Within 4 Hours from 2027

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Starting February 2027, Nigerian Communications Commission (NCC), has mandated mobile network operators and other communications service providers to notify it within four hours of detecting any cyberattack.

NCC Orders Telcos to Report Cyberattacks Within 4 Hours from 2027

This is aimed at strengthening the protection of telecom infrastructure and subscriber data.

The directive is contained in the Cyber Resilience Framework for the Nigerian Communications Sector (CRF-NCS) released by the NCC last month.

According to the NCC, the rule will take effect in February 2027, giving operators a year to put in place the necessary monitoring and reporting systems.

Under the framework, telecommunications companies must alert the regulator within four hours of detecting a cyber incident and continue to provide updates every four hours until the situation is contained.

Operators are also required to submit a confirmation report within 24 hours through a dedicated reporting portal.

The commission said the framework is designed to strengthen cybersecurity oversight in a sector that handles vast volumes of sensitive consumer and national infrastructure data.

Cyber threats targeting telecom networks can lead to service disruptions, data breaches affecting subscriber information, malware infections and other attacks capable of crippling communications systems, according to the regulator.

By introducing faster reporting timelines, the commission said it hopes to improve sector-wide situational awareness and ensure quicker response to threats before they escalate into major outages or data compromises.

The framework also requires telecommunications companies to establish dedicated Security Operations Centres (SOC) to monitor networks continuously for suspicious activity and cyber threats.

These centres are expected to detect and report malicious activities promptly while coordinating responses internally.

In addition, each operator must designate a cybersecurity lead responsible for working with the commission’s Computer Security Incident Response Team (CSIRT) to share intelligence and coordinate responses to incidents affecting the communications ecosystem.

The NCC said the new framework forms part of broader efforts to strengthen resilience across Nigeria’s communications infrastructure and promote a unified cybersecurity posture in the sector.

The measures come amid growing global and domestic concern over data breaches and cyber intrusions targeting companies that manage large volumes of digital information.

Telecommunications companies, which serve as gateways for internet traffic, mobile banking, messaging and other digital services, are increasingly seen as critical infrastructure vulnerable to cyber threats.

Nigeria’s telecom regulator has in recent years tightened rules around data protection and network security as the country’s digital economy expands.

 

 


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US Court Dismisses All Claims Against Binance in Major Anti-Terrorism Lawsuit Victory

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 A United States federal court in the Southern District of New York has comprehensively dismissed all claims against Binance, the world’s largest cryptocurrency exchange by registered users, in a high-profile lawsuit under the Anti-Terrorism Act (ATA).

US Court Dismisses All Claims Against Binance in Major Anti-Terrorism Lawsuit Victory

Binance

The 62-page decision represents a decisive legal victory, rejecting allegations from 535 plaintiffs who claimed the platform provided material support linked to 64 terrorist attacks.

The court meticulously examined and dismissed every central allegation, ruling that plaintiffs failed to establish Binance assisted terrorists, associated itself with the attacks, participated in or sought to advance them, or engaged in any conspiracy with terrorist organisations.

This full dismissal underscores the absence of evidence supporting the claims, affirming Binance’s long-standing position that the suit was meritless.

Binance General Counsel Eleanor Hughes described the outcome as “a complete vindication of all false allegations.” She emphasised: “The court has unambiguously rejected the false and damaging narrative that Binance assisted terrorists.

“We have always maintained these claims were without merit, and today’s ruling confirms that. We will continue to defend ourselves aggressively against any litigation or reporting that misrepresents who we are and how we operate.”

While the ruling grants plaintiffs 60 days to file an amended complaint in light of a recent appellate decision, Binance expressed strong confidence that no revisions can remedy the “fundamental deficiencies” identified by the court. The exchange views this as a thorough examination and rejection of the underlying assertions.

Binance reaffirmed its commitment to industry-leading compliance infrastructure, proactive regulatory engagement, and robust legal governance worldwide.

The company stressed that its operations do not support, facilitate, or enable terrorism in any form, and it plans to maintain constructive dialogue with regulators while pursuing vigorous defences against misleading narratives.

This development bolsters Binance’s position amid ongoing global scrutiny of crypto platforms, highlighting its operational integrity in a sector often targeted by unsubstantiated claims.


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TikTok Pumps $200k into AI Media Literacy for Sub-Saharan Africa at Nairobi Summit

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TikTok has announced an additional $200,000 investment in AI media literacy initiatives across Sub-Saharan Africa during its third annual Safer Internet Summit in Nairobi, underscoring the platform’s push for safer online spaces amid rising digital challenges.

TikTok Pumps $200k into AI Media Literacy for Sub-Saharan Africa at Nairobi Summit

TikTok

The two-day event, themed #SaferTogether: ‘Innovation and Safety’, gathered government officials, regulators, safety partners, and industry leaders from the region. It builds on prior summits in Ghana (2024) and Cape Town (2025), focusing on collaborative solutions for online protection.

TikTok’s Head of Government Relations and Public Policy for Sub-Saharan Africa, Tokunbo Ibrahim, stated: “Our mission is clear: to share learnings, tackle challenges, and advance actionable solutions that protect citizens online. By uniting policymakers, innovators, and creators, we ensure all-inclusive conversations for a resilient digital landscape.”

Kenya’s Cabinet Secretary for ICT, Hon. William Kabogo, who opened the summit, added: “This reflects our commitment to collaboration, sector growth, and a safe digital space. We must advance digital innovation, responsible AI governance, and strong regional partnerships.”

Boosting AI Literacy with Local Partners

A summit highlight was TikTok’s expanded $2 million AI Literacy Fund, launched globally in November 2025. The new $200,000 in ad credits targets local organisations to combat misinformation and empower users.

In Sub-Saharan Africa, initial grantees include:

  • Mtoto News (Kenya): Producing content to help youth engage responsibly with AI.

  • Africa Check (Nigeria, South Africa, Kenya): Enhancing fact-checking against AI-generated deepfakes.

  • CJID/DUBAWA (West Africa): Amplifying truth via independent fact-checking to fight information disorder.

Valiant Richey, TikTok’s Global Head of Partnerships, Elections & Market Integrity, said: “We partner with trusted locals because their expertise makes AI literacy impactful, empowering communities as viewers or creators.”

Transparency and Moderation Advances

Delegates explored TikTok’s AI-driven safety measures, including mandatory labelling of AI-generated content (AIGC), advanced detection, and partnerships like the Coalition for Content Provenance and Authenticity (C2PA) for watermarking.

With over 100 million daily uploads, AI aids proactive moderation: Q3 2025 data shows 14 million videos removed in Sub-Saharan Africa, 96.7% via automated tech, complementing human oversight.

The summit ended with pledges for ongoing digital safety efforts across the region.


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