Telecom
NCC Reaffirms Commitment to Stimulate Development & Growth of Fintech Sector in Nigeria

Nigerian Communications Commission. (NCC) says it’s committed to stimulating the development and growth of Fintech sector in Nigeria.

Dr. Aminu Maida, Executive Vice Chairman of NCC, stated this while delivering a keynote address at the 2023 NITRA Financial Technology (Fintech) Forum with the theme “Harnessing Nigeria’s Fintech Potentials: Challenges and Opportunities” held on Thursday, October 26, 2023 at CitiHeight Hotel, Ikeja, Lagos,
Dr. Maida who was represented at the event by Mr. Henry Ojiokpota, NCC’s Lagos Zonal Controller, said that the commission will continue to support the Fintech sector in hamessing its enormous potentials as well as overcoming the challenges identified.
“This can be achieved through adequate provision of secure infrastructure and USSD channels that enable delivery of Digital Financial Services delivery in efficient ways.
“The NCC is also keen on maintaining minimum standards Quality of Service (QOS), for an uninterrupted network that will boost the sector. In support of this objective, the Commission has executed the Memorandum of Understanding with CBN on driving payment systems and financial inclusion, which is in line with the Nigeria Payments System Vision 2025.
“Furthermore, the Commission is playing an important role in harnessing the potentials of Fintech through maximum support for Fintech policies, enforcing regulations, and strengthening collaborations with relevant authorities such as the CBN and other stakeholders.
“Beyond this, the NCC is also promoting incubation and sound practices of Fintech firms and highly secured platforms to further enhance the development of the Fintech ecosystem as well as the digital economy space in general.
“These measures would ultimately enable the attainment of the objectives of the Nigerian Startup Bill, particularly in the Financial Services sector, and maximize the benefits of Fintech while mitigating the risks involved, NCC EVC explained.
Maida also noted the significant roles Fintech sector has been playing in boosting financial inclusion initiative, job creation, among others.
In his words: “Fintech comes with a lot of business opportunities in terms of innovation, job creation and investment. Therefore, Fintech has the potential to deepen the existing payment and financial system infrastructure to reach unserved and underserved areas and further stimulate economic growth.
“Fintech applications such as robo-advisors, payment apps, peer-to-peer (P2P) lending apps, investment apps, and crypto apps, among others, create business opportunities f0f individuals. With the youth population accounting for an estimated 70per cent of Nigeria’s population, the digitally savvy, young, and middle-aged individuals adopting these Fintech applications for socioeconomic gains will add value to the economy. Recent industry statistics has shown that active subscriptions across mobile networks in Nigeria rose to 220.7 million in August 2023 (NCC).
“Similarly, the increasing rate of smartphone penetration, internet access, and focused regulatory drive have continued to create a favourable atmosphere for Fintech to thrive. Furthermore, greater accessibility to customer, convenience, and low-cost access to short-term loans will further deepen the acceptability of Fintech products and services. Records have shown that the Fintech sector has benefitted a lot from external investment, amounting to over US$I billion investment since 2018.”
Earlier in his welcome address, Mr. Chike Onwuegbuchi, the National Chairman of the Nigeria Information Technology Reporters’ Association (NITRA), noted that Financial Technology (Fintech) has become perhaps the most exciting sector in the ICT industry, and in Nigeria as a whole.
“The Fintech sector is seen as the engine of financial dealings, economic growth and transactional unification, and is touted to present and aid various other sectors from the grassroots to international business/trade.
“In spite of this significant relevance of this sub-sector, Nigeria saw a slowdown in Fintech funding in the past few years. According to Partech Africa’s tech Venture Capital Report, Nigeria recorded $798 million in 2022 from $1.3 billion recorded in 2021,” NITRA Chairman noted.
Telecom
Chamber Raises Alarm over Increasing Telecoms Infrastructure Vandalism

Lagos Chamber of Commerce and Industry (LCCI) has raised an alarm that members of the business community have drawn it’s attention to the rising incidents of vandalism of telecommunications infrastructure across Nigeria.

Dr. Chinyere Almona, director general of LCCI,
Dr. Chinyere Almona, director general of LCCI, who stated this in Lagos recently, said that the increasing infrastructure vandalism was posing a serious threat to economic productivity, national security, digital inclusion, and investor confidence.
According to her, “our members have drawn our attention to the rising incidents of vandalism of telecommunications infrastructure across Nigeria. This trend is a serious threat to economic productivity, national security, digital inclusion, and investor confidence.
“Telecommunications infrastructure remains critical to modern economic activity, supporting banking services, e-commerce, education, healthcare, logistics, public administration, and millions of small businesses.
Persistent attacks on fiber-optic cables, base stations, power systems, and related assets disrupt essential services, increase service providers’ operating costs, and reduce service quality for consumers and businesses.”
Speaking further, Dr. Almona explained that “to address this challenge, the chamber urges governments at all levels to treat telecommunications infrastructure as critical national assets that require stronger protection.
“This should include enhanced security surveillance, stricter enforcement of laws against vandalism, faster prosecution of offenders, and closer collaboration between security agencies, regulators, communities, and network operators.”
She added: “The Chamber also calls for improved rightof-way management, better coordination during road construction and urban works, and stronger public awareness campaigns on the economic damage caused by vandalism.”
Telecom
Firm Shares 5-step Safety Action Plan on What to Do When You Discover Your Phone is Missing

Misplacing a device, or having one stolen, is a stressful occurrence. Along with the inconvenience of no longer having a smartphone or tablet, comes the risk of unauthorised access to banking accounts and the potential for identity theft. With this in mind, Kaspersky experts have released a practical, minute-by-minute action plan for the moment you realise your phone is missing.

Step 1: Try to locate it via another device
The first step that could help to find your phone is to activate the Find My Device feature for Android or Find My for iOS to locate it. You can enter your Google or Apple ID account from the other device and see the list of devices linked to the account. Kaspersky for Android users can locate their device using the “Where Is My Device” feature via the My Kaspersky web portal. It is important that in order to use any functionality related to the device location, all those features must be activated in advance.
Step 2: Block your phone and watch for scammers
After logging into the account and finding the missing device in the device list, set it to “Lost” mode. After that click the “Вlock” button. You can set a new password, as well as add a message or a contact number that the person who found the phone will see. If the device is not connected to the Internet, the lock will take effect as soon as it connects.
Along with locating the device, Kaspersky for Android users can go beyond simple locking:
- Turn on a loud alarm, even if the phone is on silent. Perfect for finding it under a couch or forcing a thief to abandon it.
- Take a Mugshot. On devices with a front camera, Kaspersky captures a photo of the person currently using your phone. This evidence can be shared with authorities. Kaspersky’s Mugshot feature works even if the thief ignores native lock commands.
Stay cautious, if the phone falls into the hands of intruders, they may try to contact you and extort personal data to access the phone. It’s highly recommended to warn your friends and relatives about the device loss whilst your mobile phone can be used for calls or messages from your number with requests for money or questions, all of which should be ignored.
Step 3: Block access – SIM, bank cards, passwords
Promptly contact the mobile operator and block your SIM card, so you will eliminate the risk of using it for unscrupulous purposes. Also contact your bank to block any cards linked to the device or unlink those accounts.
After that, think about resetting passwords for all important services and log out of your accounts wherever possible. If you use a password manager, change its master password to protect all saved credentials.
If you’ve enabled SIM Watch in Kaspersky’s app in advance, the solution automatically blocks the device the moment someone inserts a new SIM card. This stops thieves from using their own SIM to bypass your locks.
Additionally, it’s recommended to protect the Kaspersky app itself from being uninstalled. Thieves often try to remove security apps first. Kaspersky’s anti-uninstall protection (one of the features of Where Is My Device) prevents the app from being removed and blocks changes to system settings – without your screen lock password.
Step 4: Check for the backups
As for other data such as photos, notes or messages stored on the phone, unfortunately, it will be only possible to restore it if you have backups or syncing with the cloud configured. If you had enabled device backups before the loss, you can restore almost everything, from contacts and photos to text messages.
Step 5: Remotely erase your device, if there is no hope of finding it
In parallel with how you perform all the actions described above, it is highly recommended to report the loss to local authorities and follow their guidance. However, if you are certain that the phone cannot be recovered, the final recourse is to completely erase all data from the device. This can be performed via Find My Device feature for Android, Find My for iOS or from the My Kaspersky web portal (for Android).
“In the routine of daily operations, it is easy to overlook how many critical aspects of our digital lives are tied to our mobile devices, and how seldom we consider that losing a phone may lead not only to inconvenience, but also to data loss, compromised access to essential accounts, or even identity theft.
At Kaspersky, we think in advance for your safety, going beyond just an antivirus solution. We fully understand the risks and disruptions that a lost or stolen phone can cause. That is why our solutions are designed to mitigate those risks,” comments Dmitry Kalinin, Senior Malware Analyst at Kaspersky.
Step 0: Protect yourself in advance
Here are some additional steps that, if taken in advance, may significantly reduce the negative effects of losing the phone:
- Enable location tracking. Both Android and iOS have special functionality to track a phone’s location and remotely erase data from it. Kaspersky for Android provides this functionality with the Where Is My Device feature activated.
- Allow automatic backups. Due to the regular backups all photos, videos, documents, contacts, and other important data can be recovered if the phone goes missing.
- Store all sensitive data in the protected format. Use a dedicated security solution like Kaspersky password manager, which apart from securely keeping passwords, logins and bank cards, has a special secret vault functionality aimed at storing important documents, for example, scanned Passports/IDs and PDF files, addresses and notes.
- Set immediate auto-locks. This ensures the phone is always locked when not actively being used, helping to prevent thieves or cybercriminals from accessing stored information.
- Keep the phone physically secure. While being in a public place, avoid leaving a device unattended or easily accessible such as on tables or in back pockets.
Telecom
MTN Foundation Expands Digital Access as Iwerekun Junior High School Records Stronger Academic Results

The recent access to digital tools and facilities in Lakowe’s Iwerekun Junior Secondary School has become a thing of pride. The school is one of the beneficiaries of the MTN Foundation’s What Can We Do Together (WCWDT) initiative. With a student population of over 2,000 (including more than 400 in technical classes), the school needed a suitable ICT Lab last year. A call that WCWDT answered, renovating the ICT laboratory into a world class facility to support the students.

MTN Foundation
According to the Universal Basic Education Commission (UBEC), over 8 million students are enrolled in junior secondary schools across Nigeria, yet only 416,291 teachers. This creates a rising need for better facilities and tools that would support and amplify teaching efforts. With efforts from initiatives like WCWDT communities across the country are getting access to the facilities that will drive educational efforts.
Today, the ICT laboratory has changed the learning experience for many students in the school. What used to be limited access to digital learning tools has gradually become a more engaging and practical learning environment, giving students room to learn, explore and build confidence with technology.
For the school’s Principal, Mr. Azeez Olatunji Fatai, the difference became noticeable almost immediately. “Since the installation of the ICT lab, we have seen significant improvements amongst students,” he said. “Our students now have access to digital tools and learning resources that were previously unavailable, and their confidence in using technology has improved greatly.”
That renewed confidence is beginning to reflect in how students engage both inside and outside the classroom. Recently, the school emerged first in an inter-school competition, a milestone many within the school community see as evidence of the growing exposure and encouragement students now receive. Teachers say students are showing greater enthusiasm during lessons and are becoming more willing to participate in practical and extracurricular activities.
The ICT lab has also strengthened the school’s focus on practical learning. Since November, students have participated in more structured digital learning sessions, while some have also gained additional exposure through extracurricular and skill-based programmes designed to strengthen their digital and technical capabilities.
For the MTN Foundation, this outcome reflects the broader goal of the What Can We Do Together initiative, which continues to address critical gaps in education and community infrastructure.
As nominations open for Phase 6 of the initiative, the Foundation is calling on Nigerians to nominate deserving schools and communities for the opportunity to benefit from upgraded science laboratories and primary healthcare centres, helping to create more success stories like Iwerekun Junior Secondary School and expand access to quality learning and development opportunities across the country.
General News2 days agoPalmPay, LASUBEB Deepen Efforts to Keep More Children in School
News2 days agoNational Assembly to Review National Data Protection Act
E-Financial2 days agoCBN Warns Non-Interest Banks against Governance, Compliance Risks
E-Business2 days agoFirm Shares Insights into Ransomware Trends and Tactics @ International Anti-Ransomware Day-2026
E-Financial2 days agoFG Seeks Fresh $1.25Bn Loan from World Bank to Create Jobs, Others
E-Financial2 days agoFidelity Bank Hits N1trn Milestone as Earnings Surge 45%
Telecom2 days agoATCON Says Telecom Network Under Threat, Urges Stronger Efforts to Protect Infrastructure
E-Financial2 days agoEcobank Group Announces $3b Trade Finance Commitment to Boost Intra African Trade

















