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Moniepoint and Afrigopay Unite to Drive Digital Payments and Financial Inclusion in Nigeria

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L-R Managing Director, Moniepoint MFB, Babatunde Olofin; Chief Operating Officer, AfriGOPay Financial Services, Ugo Obasi; MD/CEO, AfriGOPay Financial Services, Ebehijie Momoh and Co-Founder and Group CEO, Moniepoint Inc, Tosin Eniolorunda during a courtesy visit to AfriGo in Lagos.
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In a significant move to further enhance the availability of digital payment services to Nigerians, Moniepoint Inc has announced a strategic partnership with Afrigopay Financial Services Limited (AFSL), a subsidiary of the Nigeria Inter-Bank Settlement System (NIBSS), to further enhance the government’s digital payment agenda, by driving tap-to-pay solutions as well as accelerating the adoption of AfriGO Card, Nigeria’s National Domestic Card Scheme nationwide.

L-R Managing Director, Moniepoint MFB, Babatunde Olofin; Chief Operating Officer, AfriGOPay Financial Services, Ugo Obasi; MD/CEO, AfriGOPay Financial Services, Ebehijie Momoh and Co-Founder and Group CEO, Moniepoint Inc, Tosin Eniolorunda during a courtesy visit to AfriGo in Lagos.

This collaboration will also leverage Moniepoint’s extensive reach and robust infrastructure to avail an innovative solution which allows users to make payments by tapping or hovering their contactless card or Near Field Communication (NFC) enabled device over a payment terminal or directly on compatible mobile phone devices.

Moniepoint, already a leader in driving digital payments and financial inclusion in Nigeria, will utilize its vast network and technological expertise to facilitate the rapid scaling of the AfriGO cards. Known for its innovative solutions that empower small and medium-sized enterprises (SMEs) and individuals, Moniepoint has consistently demonstrated its commitment to bridging the financial inclusion gap and has committed to deploying 5 million AfriGO cards.

AfriGO aims to deepen financial inclusivity by utilizing innovative products, a customer-focused approach, and cutting-edge technology. By reducing the country’s dependency on foreign exchange (FX) for payment transactions and ensuring data sovereignty, AfriGO Card strengthens and empowers local businesses, creating new opportunities within the growing card business ecosystem in Nigeria.

“Our partnership with AfriGO aligns perfectly with our ongoing mission to engineer financial happiness for every Nigerian while driving convenience, transparency and security with contactless payments,” stated, Tosin Eniolorunda, CEO Moniepoint Inc. “The Moniepoint/AfriGO card is not just a product; it’s a vital tool that will extend our reach, particularly to those who have been traditionally excluded from the formal financial system. Building on Moniepoint’s impressive track record, this partnership will offer Nigerians a more affordable payment option while ensuring instant transaction settlement through AfriGO. Additionally, it will further drive financial inclusion across the country”.

He continues, “the benefits of contactless payments are far reaching and will be great for our ecosystem. There are mutual synergies in unlocking potentials by creating a better life through our services for all Nigerians and we can reshape the digital economy so everyone — individuals, financial institutions, governments and businesses — can realize their ambitions.”

Speaking on the collaboration, the Managing Director & CEO of Afrigopay Financial Services Ltd. (AFSL), Mrs. Ebehijie Momoh, stated, “This partnership is set to transform financial service delivery, particularly in underserved areas, by leveraging AfriGO’s innovative payment solutions. With AfriGO Cards, merchants and agents will experience seamless transaction finalization and instant settlement, leading to improved efficiency, better cash flow management, and reduced risk. Backed by robust technology infrastructure and effective liquidity management, AfriGO ensures smooth and secure operations, further enhancing accessibility and driving financial inclusion”.

She added, “Moniepoint’s extensive agent network will play a key role in expanding this reach, supporting local businesses and delivering essential banking services, including purchases, deposits, withdrawals and money transfers. Together, we are creating a more connected and inclusive financial ecosystem, making transactions faster, more reliable and widely accessible to Nigerians.”

This partnership reinforces the industry’s commitment to offering advanced, efficient payment solutions while significantly giving a boost to digital payment adoption in Nigeria, offering a secure, local alternative to international payment cards and shaping the future of payments in Nigeria.

Moniepoint has been instrumental in transforming Nigeria’s financial landscape by providing reliable and accessible digital payment solutions. Their agent network, spanning across the country, has significantly contributed to bringing financial services closer to underserved communities. The company’s focus on empowering SMEs with reliable point-of-sale (POS) terminals and digital banking tools has fostered economic growth and financial stability.


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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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Lebara Nigeria, MVNO Oils Machine for Q3 Launch with Personalized Number Reservations

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Lebara Nigeria is building excitement for its upcoming Mobile Virtual Network Operator (MVNO) launch, giving customers a chance to secure a personalized piece of their mobile identity.

Lebara Nigeria, MVNO Oils Machine for Q3 Launch with Personalized Number Reservations

The company has opened a Number Reservation Portal, allowing users to reserve their preferred mobile numbers before the official service goes live in the third quarter of 2025.

This strategic move is all about giving customers a sense of ownership from day one. Using the carrier’s 0724 prefix, users can choose a number that’s meaningful to them, whether it’s a birthday, a lucky number, or an easy-to-remember pattern.

The reservation process is straightforward. Users must be at least 13 years old and provide a few basic details to get a one-time password via email.

Once verified, they’ll need to enter their National Identification Number (NIN), which the system uses to confirm personal information.

After this, a list of available numbers appears, and a final confirmation email completes the reservation.

Lebara, a London-based global MVNO, according to yozzo.com,  is no stranger to the telecom world, with a strong presence as a mobile virtual network operator (MVNO) across Europe and other regions.

Its entry into Nigeria is a calculated move to carve out a space in the highly competitive market.

By allowing customers to pick their numbers early, Lebara hopes to build loyalty and highlight its customer-first philosophy.

The company plans to operate a lean, technology-driven model by leveraging existing network infrastructure, which will help keep costs low and make its pricing competitive.

At launch, Lebara will offer nationwide coverage, a dedicated 0724 number series, and both SIM and eSIM options.

Beyond traditional connectivity, Lebara is also partnering with local government and the Ministry of Arts, Culture, Tourism, and Creative Economy to launch public Wi-Fi hubs and promote digital inclusion for creators and underserved communities.

The core of its proposition is affordability, transparent billing, and a strong customer service model designed to challenge established players.

Lebara’s entry won’t be without its challenges.

It will face off against many other competitors in Nigeria’s emerging MVNO space.

This wave of new entrants comes after the Nigerian Communications Commission (NCC) issued 46 MVNO licenses, with many of the licensees expected to have already launched.

Despite this, the local media’s focus has largely been on only a couple of them, Vitel and now Lebara.


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Why Half of MVNOs in Nigeria May Collapse- Experts

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Telecoms stakeholders have cautioned that many Mobile Virtual Network Operators (MVNOs) in Nigeria could struggle to survive unless they address infrastructure gaps, target niche markets, and adapt to local realities.

Why Half of MVNOs in Nigeria May Collapse- Experts

The warning came during the sixth edition of the Telecoms Sector Sustainability Forum, organised by Business Remarks in Lagos on Tuesday.

According to the stakeholders, securing a license from the Nigerian Communications Commission (NCC) is not enough to ensure survival in a market dominated by major Mobile Network Operators (MNOs) like MTN, Airtel, and Glo.

Chidi Ajuzie, director of USK Mobile, highlighted the stark reality facing MVNOs, noting that none of the over 40 licensed operators have fully launched services.

“Licenses are not cash cows. Too many people think that once you get a license, the money will start rolling in. The truth is, you must build infrastructure, study the market, and create services that meet consumer needs. Without that, many MVNOs will die out quickly,” Ajuzie said.

Ajuzie pointed out that smaller operators, particularly those in Tier 4 and Tier 5 categories, face significant financial hurdles in building their own infrastructure to support capacity.

However, he sees this as an opportunity for innovation, urging MVNOs to target niche markets such as youth, migrant workers, or fintech services, as seen in successful models in South Africa and India.

“Half of us may launch, but only those with clear strategies will survive,” he warned, predicting mergers and consolidations in the coming years.

Tony Emoekpere, president of the Association of Telecommunications Companies of Nigeria (ATCON), echoed Ajuzie’s concerns, stressing that market differentiation is critical for MVNO survival.

“The MNOs already provide enterprise services, internet, and fintech. MVNOs must find gaps and focus on those,” Emoekpere said.

He cited Kenya’s M-Pesa, which revolutionized payments by targeting rural and low-income users, as a model for local innovation.

Emoekpere suggested that MVNOs could capitalize on Nigeria’s underserved rural areas, where millions lack access to reliable telecom and financial services. “Something as simple as a low-data package for POS machines in rural areas could be a game-changer,” he added.

Olusola Teniola, director, IPNX, cautioned against adopting foreign business models without considering Nigeria’s unique environment. “In some villages, people still travel by canoe or horse for hours to access basic services. If your business model doesn’t account for that, it will fail,” Teniola said.

He urged MVNOs to focus on the bottom of the pyramid, where millions lack basic connectivity, rather than competing for urban smartphone users.

Teniola also warned that failure to strengthen indigenous companies could lead to more profits leaving Nigeria through foreign-owned operators, emphasizing the need for policies to protect data sovereignty and foster local innovation.

The stakeholders said while MVNOs have the potential to expand Nigeria’s telecom sector and increase consumer choice, their survival hinges on strategic planning, niche targeting, and a focus on rural connectivity.

Without urgent action to address infrastructure challenges and adapt to local needs, many MVNOs risk disappearing before they can establish a foothold in Nigeria’s competitive telecom landscape.

 

 

 

 


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NCC Claims Nigeria’s Telecom Tariffs among Cheapest despite 50 Percent Hike

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Nigerian Communications Commission (NCC) has defended the recent upward review of telecom tariffs, insisting that Nigeria’s rates remain among the cheapest in the world due to strong industry competition.

NCC Claims Nigeria’s Telecom Tariffs among Cheapest despite 50 Percent Hike

Speaking at a media briefing in Abuja recently, Dr. Aminu Maida, executive vice chairman, NCC, said that despite a 50% hike in tariffs, call rates have only moved from ₦15 per minute in the early 2000s to about ₦18–₦19 per minute today.

“Even with the increase, not all operators adjusted their tariffs. Some are still undercutting others. That is competition at work,” Maida explained.

He assured that the commission will continue to strengthen regulations to encourage competitiveness and transparency.

According to him, NCC is adopting an information disclosure strategy to enable consumers to make informed choices.

Maida also cautioned Nigerians against relying on Truecaller for identity verification, stressing that it is not linked to Nigeria’s SIM registration database and often provides misleading results.

He noted that while all SIMs in use are registered, some individuals deliberately use proxies, including domestic staff, to register SIMs an act he described as a crime.

The NCC boss disclosed that in September, the commission will launch a coverage and tariff map to help subscribers compare network quality and pricing across operators.

He further revealed plans for spectrum trades and leases to optimise usage and improve service delivery, adding that most Nigerian phones already support 4G, which remains the “sweet spot” for mobile broadband.

Maida emphasised the need for fresh capital and stronger corporate governance within the sector to sustain growth, enhance service quality, and strengthen national security.


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