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Nigerian Fintech Solution Introduces Bill Payment for the Unbanked Population

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A recent report by EFInA shows up to 38 million Nigerian adults, translating to about 36% of the total adult population in the country, were financially excluded. Against this backdrop, MoMo Bill Payment aims to promote faster progress toward bill payment and financial inclusion, particularly for excluded groups such as women in rural  and Northern Nigerians.

Earlier in 2022, MoMo Payment Service Bank (Momo PSB) began commercial operations in Nigeria. The announcement was made after the company received approval from the Central Bank of Nigeria to begin operations in the country. MoMo PSB carries out a variety of CBN-approved financial services, including operating electronic purses, account management, airtime and data purchases and money transfer for both individuals and businesses.

For CBN to successfully implement its financial inclusion policy and the digital inclusion objective of the Minister of Communications and Digital Economy, all Nigerians must have access to simple-to-use, affordable financial services. We are eager to contribute and are enthusiastic about the possibilities to collaborate with important institutions across many industries to co-create and increase access across the country,’’ says Chief Executive officer, Usoro Usoro.

Outside Momo PSB core payment business, the fintech solution is also championing bill payments for the unbanked and underserved population. It offers a convenient option for businesses  and consumers to pay bills online. Currently, MoMo Bill Payment allows users to pay electricity, cable TV, betting, and loan collection bills to specific vendors. Additionally, you can use MoMo Pay to pay merchants and business owners.

Usoro Usoro, Executive Director Commercial, MoMo PSB, said, “Many Nigerians lack access to financial services, including bank accounts, although they do have phones. Only 40 million of the 80 million individuals in our country have accounts. It follows that anybody in this nation with a phone would by default be able to obtain a bank account. But that hasn’t been the case. We understand and recognize the importance of bill payment and this is why we are ensuring all Nigerians have access to it’’.

MoMo PSB has made strides to make life simpler and easier for its customers through MoMo Bill Payment. It uses a USSD code to provide a quick, secure, and affordable way to make sure that all of your bills are paid from the convenience of your homes or offices. Its goal is to improve financial inclusion in Nigeria, by providing access to bill payments services, financial information and decisions.


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NITDA Deepens Digital Gender Inclusion with IgniteHer Bootcamp

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In a powerful demonstration of its commitment to the Renewed Hope Agenda of the present administration of President Bola Ahmed Tinubu GCFR, the National Information Technology Development Agency (NITDA) has launched the second cohort of the IgniteHer Bootcamp for Women Entrepreneurs, a strategic initiative aimed at accelerating gender inclusion and economic empowerment through digital innovation.

The bootcamp, themed “Empowering Women Entrepreneurs for Growth and Innovation”, was launched in partnership with the Japan International Cooperation Agency (JICA) and brought together selected women entrepreneurs from across Nigeria, both physically and virtually, for rigorous training in digital skills, innovation management, business development, and investor readiness.

The NITDA Director General, Kashifu Inuwa CCIE, who declared the bootcamp open, reaffirmed the Agency’s role in aligning Nigeria’s digital development with the national priorities of reforming the economy for sustained inclusive growth and accelerating economic diversification through industrialisation and digitisation.

“Through IgniteHer, we are actualising President Bola Ahmed Tinubu’s Renewed Hope Agenda by expanding women’s access to technology and economic opportunity,” he stated.

The DG, who was represented by the agency’s Acting Director of the Digital Literacy and Capacity Building department, Dr. Ahmed Tambuwal, noted that inclusive innovation is a cornerstone of NITDA’s Strategic Roadmap and Action Plan (SRAP 2.0: 2024–2027), which supports national aspirations for inclusive growth, poverty eradication, and youth empowerment.

“We are not merely imparting skills; we are creating self-reliant entrepreneurs, change-makers, and leaders,” he added.

Inuwa disclosed that the IgniteHer Bootcamp is also a key component of the National Gender Digital Inclusion Strategy (NGDIS), through which NITDA is working to empower 12.7 million Nigerian women with digital literacy skills by 2027. He averred that the programme complements broader government efforts to bridge gender gaps, enhance productivity, and reduce unemployment, especially among young women.

Citing a report by the World Wide Web Foundation, the DG emphasised that closing the digital gender gap in Nigeria could unlock an estimated $13 billion in GDP growth over the next decade.

“This training is a step towards harnessing this economic potential and ensuring that women play an integral role in shaping the digital landscape of Nigeria,” he noted.

He therefore called on participants selected from over 12,000 applicants to seize the moment and shape the future of Nigerian entrepreneurship.

While highlighting NITDA’s leadership in strategic partnerships, the DG commended JICA and the Government of Japan for their ongoing collaboration in supporting digital empowerment through programmes like IgniteHer and the iHatch Incubation Programme, which provides startup support, mentorship, and innovation development to early-stage entrepreneurs.

“At NITDA, we believe that inclusive innovation is not just an ideal but a critical strategy that ensures the growth of a stronger economy, the development of smarter solutions, and the existence of more resilient communities. Through IgniteHer, we are dismantling barriers and replacing them with pathways to opportunity,” he concluded.

In his remarks, the Japanese Ambassador to Nigeria, Matsunaga Kazuyoshi, reaffirmed Japan’s long-standing commitment to innovation and gender inclusion in Nigeria. He announced that Japan, through JICA, is currently supporting two grant projects worth $30.9 million, focused on improving Nigeria’s startup ecosystem, strengthening the investment climate, and building an inclusive innovation hub.

The Ambassador also referenced the upcoming Tokyo International Conference on African Development (TICAD 9), themed “Co-create Innovative Solutions with Africa”, as further testament to Japan’s dedication to deepening Africa-Japan cooperation on digital transformation and entrepreneurship.

Lead Facilitator of IgniteHer, Hajiya Hafsat Salabi-Dange, described the programme as a catalyst for social and economic transformation. While praising NITDA’s visionary approach to development, she stated that the programme is a movement that is bridging the digital gender divide and fostering economic independence.

Encouraging the participants to remain curious, intentional, and bold, she said, “What you will gain here goes beyond business; it is a tool for community upliftment, national growth, and generational impact.”


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NAF, NIGCOMSAT to Boost Nigeria’s Security with Satellite Technology

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Nigerian Air Force (NAF) and Nigerian Communications Satellite (NIGCOMSAT) Limited have entered into a strategic alliance aimed at advancing operational effectiveness, sovereignty, and sustainability through space-based innovations.

NAF, NIGCOMSAT to Boost Nigeria’s Security with Satellite Technology

This was during a courtesy visit by Jane Egerton-Idehen, managing director and chief executive officer of NIGCOMSAT, to Air Marshal Hasan Bala Abubakar, chief of the Air Staff (CAS), at the NAF Headquarters in Abuja on Wednesday, August 7, 2025.

According to Air Commodore Ehimen Ejodame, director of Public Relations and Information, Headquarters, Nigerian Air Force,  discussions during the meeting focused on leveraging NIGCOMSAT’s satellite capabilities to enhance the NAF’s mission-critical functions, particularly in the areas of secure communication, real-time intelligence, surveillance, and reconnaissance.

Both parties acknowledged that the future of national defence lies in digital dominance and home-grown technological solutions.

Abubakar stressed the urgent need for indigenous systems to support the evolving demands of modern air operations.

“We must continually seek innovative ways to improve our capabilities and reduce reliance on foreign systems.

Strategic collaboration with institutions like NIGCOMSAT is essential to ensure secure communication and real-time situational awareness across our theatres of operation,” the CAS said.

In her remarks, Egerton-Idehen praised the Air Force’s proactive approach and expressed NIGCOMSAT’s readiness to support the military with tailored satellite solutions that align with national security objectives.

“This partnership is not only timely but critical in strengthening Nigeria’s digital defence infrastructure.

NIGCOMSAT stands ready to deploy its expertise in support of the Nigerian Air Force and contribute meaningfully to national security,” she said.

Both organisations reaffirmed their shared commitment to advancing Nigeria’s security architecture through the use of indigenous space technologies.

 

 

 


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FG Announces New Fossil Fuel Tax

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Federal government has announced it will impose a new 5 percent refined fossil fuel tax from January.

FG Announces New Fossil Fuel Tax

The surcharge, which has been signed into law by President Bola Tinubu to encourage clean energy use, could raise more than half a billion dollars annually.

The fee will apply to petrol and diesel, while cooking gas and compressed natural gas — which the government has tried to promote — are exempted.

Nonprofit group ActionAid Nigeria said the policy will “disproportionately impact the poor” and deepen inequality, noting that Nigerians have not recovered from the inflationary effect of the removal of fuel subsidies in 2023.

 

 


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