Connect with us

Telecom

MTN Alleges N22Bn Fraud on Mobile Money Banking

Published

on

Kindly share this post

MTN Communications Limited’s newly licensed Mobile Money Payment Service Bank Limited (MOMO PSB) has alleged a fraudulent loss of N22 billion in one month of operations.

MTN Alleges N22Bn Fraud on Mobile Money Banking

In a suit instituted by the MOMO bank against 18 banks in the country, the subsidiary service provider revealed that an aggregate sum of N22,300,000,000, which is an equivalent of about $53.7 million, was transferred in error to accounts maintained by customers of the banks in the country.

In an originating summons dated May 30, brought by Lotanna Chuka Okoli (SAN), MTN’s MOMO PSB is contending that the funds having been erroneously transferred belonged to it, and not to the customers of the banks.

Among other reliefs, the MTN bank is also seeking an order of the court directing the 18 banks to individually account for the sums available in their customer accounts and the sums which have been removed by the customers and are no longer available.

In an affidavit in support of the originating summons, Mr. Anthony Usoro Usoro, chief executive officer (CEO), MOMO PSB Ltd, claimed that MOMO PSB Ltd is the bona fide owner of the aggregate sum of N22.3B which is maintained in its MOMO settlement account.

He averred that on or about the 24th day of May, 2022, it was noticed that funds had been erroneously transferred from its settlement account to various accounts maintained by the 18 banks.

Usoro further claimed that a total of 700, 000 transactions were processed with credits made into about 8,000 various accounts in the listed 18 banks.

He stated that upon becoming aware of the incident, MOMO PSB Ltd management responded by immediately shutting down the service to limit the impact and triggered engagement with the banks for the commencement of recovery activities from the accounts of the various beneficiaries in the 18 banks.

MOMO is contending that, under the Central Bank of Nigeria (CBN) Regulation on Instant (Inter-Bank) Electronic Funds Transfer Services, made pursuant to sections 2(D), 33(1)6) and 47(2) of the CBN Act 2007, it is incumbent on the 18 banks to make refund and provide the required information.

No date has been fixed for the hearing.

 


Kindly share this post

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.

Telecom

Nnaemeka Ani – The Architect of ‘Code and Courage’

Published

on

Kindly share this post

In the rapidly evolving landscape of African technology, few figures bridge the gap between high-level research and grassroots digital execution as effectively as Nnaemeka Ani.

Nnaemeka Ani - The Architect of ‘Code and Courage’

Nnaemeka Ani

As the Founder of MGX Research Center and the visionary behind MexyGabriel, Ani has emerged as a leading protagonist in the narrative of Nigeria’s technological self-reliance.

The Visionary: Founding MGX Research

At the heart of Ani’s philosophy is MGX Research, a center dedicated to “first-principles thinking.” Under his leadership, the center has become a beacon for data-driven innovation, moving beyond the “hype” of the tech world to focus on persistent, localized solutions.

Through MGX Research Center, he is building a multidisciplinary ecosystem that cuts across artificial intelligence, data science, cybersecurity, smart cities, digital identity, e-governance, EdTech, HealthTech, robotics, and automation

Ani’s mantra – “Africa’s rise begins with its own innovation” – is not just a slogan; it is a call to arms for African builders to stop seeking international validation and start authoring their own digital destiny.

As Founder and CEO of MexyGabriel Tech Company, Nnaemeka has driven multiple large-scale technology projects across Nigeria, focusing on digital infrastructure, enterprise solutions, identity and payment platforms, and youth-centered innovation programs. MGX Research Center functions as the research and development arm of this broader ecosystem, providing the thinking laboratory, prototypes, and strategic insights that inform products, policies, and investment decisions.

Nnaemeka is passionate about youth empowerment, innovation, and Africa’s digital future. His work through MGX Research Center aims to position Nigeria not just as a consumer of technology but as a creator of solutions, producing world-class research, thought leadership, and practical tools that can be deployed across states, universities, and private organizations.

He frequently collaborates with universities, government ministries, tech hubs, and global partners, championing a model where research is not locked up in theory but translated into deployable systems, smart policies, and scalable ventures.

Ani has demonstrated a unique ability to turn complex code into commercial and social value. His work has focused on:

  • Infrastructure for Good: Developing platforms that bridge the divide between urban tech hubs and rural communities.
  • Sovereign Technology: Championing the idea that African data should be managed by African-built systems.

The Public Servant: Digitizing Enugu State

Ani’s influence extends into the corridors of power. Serving as the Special Adviser to the Enugu State Governor on ICT, he has been instrumental in transforming the state into a burgeoning digital ecosystem.

His work in Enugu serves as a blueprint for “Governance-Tech Synergy,” proving that when political will meets technical expertise, public service delivery can be revolutionized.

“We are no longer just ’emerging’; we are competing. Africa will rise by code, by courage, and by us,” said Nnaemeka Ani.

Quick Facts: Nnaemeka Ani

Category

Detail

Current Roles

Founder, MGX Research; Founder, MexyGabriel; SA on ICT to Enugu State Governor.

Core Philosophy

“First-Principles Thinking” – Breaking problems down to their core truths.

Key Advocacy

Digital Sovereignty, Sovereign AI, and localized STEM education.

Notable Mantra

“By Code and By Courage.”


Why He Matters in 2026

As Nigeria enters a transformative year marked by the January 1, 2026 Tax Reforms and the push toward 70% Broadband Penetration, Ani represents the “New Guard” of leadership. He is one of the few voices consistently advocating for the Tripod Method, balancing technology, local policing, and traditional authority, to ensure that Nigeria’s digital growth is matched by national security.

Nnaemeka Ani is not just as a “tech guy,” but as a Strategic Reformer. He is a “Leader to Watch” because he understands that for technology to thrive in Nigeria, it must be supported by sound policy and cultural relevance.


Kindly share this post
Continue Reading

Telecom

MTN Nigeria Appreciates Partners, Customers at Lagos Prestige Experience

Published

on

Kindly share this post

MTN Nigeria has hosted the Prestige Experience, a refined evening of culture, connection and celebration, as part of its ongoing Y’ellotide initiative marking the Yuletide season.

MTN Nigeria Appreciates Partners, Customers at Lagos Prestige Experience

MTN Nigeria

The event, held on Friday at The Royal Box, Victoria Island, Lagos, brought together customers, partners, stakeholders, and dignitaries in an atmosphere of appreciation and festivity.

The Prestige Experience showcased Nigerian creativity and elegance through a curated blend of fine dining, fashion, and music. Guests were treated to Michelin-inspired cuisine prepared by renowned Chef Stone, fashion showcases highlighting African heritage, and soulful performances by acclaimed singer Asa.

The evening was anchored by popular hosts Ebuka Obi-Uchendu and Michelle Dede, with comedic interludes from veteran comedian Alibaba.

Speaking at the event, Dr Ernest Ndukwe (OFR), Chairman of MTN Nigeria, described the gathering as an expression of gratitude and partnership. He said the Prestige Experience reflected MTN’s appreciation for the trust Nigerians continue to place in the brand.

“The MTN Prestige Experience is a cornerstone of our commitment to you, our valued partners. Your trust and continued patronage are the bedrock of our success, and this gathering reflects our appreciation for that trust.

“We are not just a service provider but are committed to being a trusted partner in Nigeria’s progress,” Ndukwe said.

In his remarks, Dr Karl Toriola, Chief Executive Officer of MTN Nigeria, emphasised the importance of genuine connection during the festive season.

“We recognise the immense value of the relationships we have built together, and we are committed to ensuring that your experience remains unparalleled.

“You are essential partners in our journey, and we look forward to many more years of shared success and collaboration,” Toriola said.

Distinguished guests at the event included members of MTN’s Board and Executive Management, industry leaders, government officials, members of the diplomatic community, and representatives from the creative sector, reflecting the diversity and richness of the MTN ecosystem.

The Prestige Experience forms part of MTN’s broader Y’ellotide celebrations, which reaffirm the company’s belief that meaningful connections and shared experiences remain central to its relationship with Nigerians.


Kindly share this post
Continue Reading

Telecom

Google Finally Allows Users to Change Gmail Address, Keeps Data and Services Intact

Published

on

Gmail.jpg
Kindly share this post

Google has unveiled a new feature that allows Gmail users to change their existing email addresses without losing data or access to services, marking a major shift in the company’s long-standing policy.

Google Finally Allows Users to Change Gmail Address, Keeps Data and Services Intact

Gmail

According to an update on Google’s account help page, the new option enables account holders to replace their current @gmail.com address with a new one while retaining all associated data, including emails, photos, and integrations with services such as Google Drive, Maps, and YouTube.

The guidance, however, was first spotted on the Hindi version of Google’s support page, suggesting that the rollout may begin in India or Hindi-speaking markets before expanding globally.

The English-language support page still carries the older advisory that Gmail addresses “usually cannot be changed.”

Google explained that under the new policy, users who update their Gmail address will automatically keep their original address as an alias.

This means emails sent to the old address will continue to arrive in the inbox, and the original address will remain valid for signing in to Google services.

Previously, users seeking a new Gmail address had to create an entirely new account and manually transfer their data, a process that often disrupted third-party app integrations. The new feature eliminates that inconvenience, ensuring continuity for users.

The company further clarified that while users can reuse their old Gmail address at any time, accounts that change their address will face certain restrictions.

These include a 12-month waiting period before another new Gmail address can be created, and the inability to delete the newly chosen address once it has been set.

Google assured users that all existing data would remain intact after an address update, including stored photos, messages, and emails.

The gradual rollout of the feature indicates that full global adoption is expected in the coming months, a move likely to be welcomed by millions of users who have long requested the ability to update their Gmail identities without starting afresh.


Kindly share this post
Continue Reading

Trending