E-Business
Nigerian National e-ID Card Bags Award for Financial Inclusion

Nigerian National Electronic Identity (e-ID) card, powered by MasterCard, has been named “the Best Financial Inclusion Product” at this year’s Central Bank of Nigeria’s (CBN) Card, ATM and Mobile Expo Awards, held in Lagos last week.
Supported by Nigeria Inter-Bank Settlement System and CBN, the award recognises the payment product that has effectively expanded financial inclusion and advanced Nigeria’s cashless policy.
The National e-ID card with MasterCard’s prepaid payments functionality is currently being issued by the Nigerian Identity Management Commission (NIMC) to 13 million Nigerians 16 years and older as part of a pilot program launched in August 2014.
Upon completion of the pilot program, NIMC plans to introduce more than 100 million cards to Nigeria’s 170 million citizens, making this the largest rollout of a an electronic payment solution in the country and the broadest financial inclusion program in Africa.
“We are extremely honoured to receive this prestigious award, which recognises the strides we are making in providing a convenient, safe, and cost effective electronic payments product to Nigerians – 64 percent of whom do not have a bank account,” said Barr. Chris ‘E Onyemenam, director general and CEO of NIMC.
“Combining an identity card with MasterCard’s prepaid payment capability creates a game changer as it breaks down the most significant barrier to financial inclusion – proof of identity – while simultaneously enabling Nigerians to access state-of-the-art financial services.”
Using the e-ID as a payments tool, cardholders can deposit funds, save, withdraw cash at ATMs, and pay for goods and services at any of the millions of MasterCard acceptance locations globally or via online shopping portals.
The card also enables citizens to receive funds electronically including government subsidies, social grants, salaries and other disbursements, rather than physically transporting themselves to receive the cash, which is costly, unsafe and inconvenient.
“Too many people lack access to the most basic financial services, leaving them trapped in a cash economy that imposes greater risks and costs on those least able to afford them,” said Omokehinde Ojomuyide, vice president and area business head for West Africa, MasterCard.
“Through the e-ID program, we are creating an avenue to help citizens better manage their finances, and participate in the mainstream economy.”
Ojomuyide said that the broader economic impact of the card will be felt as the previously unbanked build a financial history, which enables them to secure loans from financial institutions.
Small Medium Enterprises will be able to access the financing they need to grow their businesses, in turn creating jobs and sharing in the opportunities for economic growth enjoyed by wealthier segments of the population.
The card’s electronic payments capability also enables the Government to minimize fraud and corruption, reduce leakages and generate significant savings, as it digitizes cash payments and formalizes the shadow economy.
The announcement signals the second accolade awarded to the NIMC in as many months, with the Smart Card and Payments Awards (Middle East) 2015 naming the National e-ID card as “The Best Payment Initiative in Africa” in May 2015.
“We are proud to be associated this program, which has already received recognition globally, and congratulate NIMC on this notable achievement,” said Ojomuyide.
“Making financial inclusion a reality is central to our business and we look forward to working with NIMC and our other partners to achieve our vision of a cashless, more inclusive, Nigeria.”
E-Business
Report Shows Start-ups Fuel Innovations in Africa

Bloomberg has released its second annual “25 African Startups to Watch” list, underscoring the growing influence of venture-backed innovation across the continent.

Published thursday, the list highlights companies building solutions in “environments where infrastructure or systems have failed to deliver.”
The featured start-ups build solutions to challenges such as accessing healthcare in Chad, moving goods in Kenya, securing loans in South Africa, and safeguarding borders in Nigeria.
Nigeria, South Africa and Kenya jointly lead with four companies each, reflecting the ongoing strength of Africa’s three most visible start-up ecosystems.
The 25 companies span 13 countries and sectors including healthcare, fintech, security, climate resilience, waste management, and transport.
Nigeria’s four startups are 10mg Health, Remedial Health, Sycamore and Terra Industries, covering areas from healthcare financing and pharmaceutical supply chain integrity to digital lending and defence technology.
South Africa’s contingent includes Omnisient, Amesect, AURA and Jem. Omnisient uses grocery purchase data and AI to extend credit to those outside traditional financial systems.
Kenya’s notable four include Zeraki, a school-data analytics platform partnering with Safaricom to reach secondary students across the country.
According to Bloomberg, a defining theme this year is the source of funding.
Nearly half of the total capital raised by these start-ups came from African investors, marking a shift from previous years when international capital predominantly drove early growth.
International backers such as 8VC, controlled by Palantir Technologies co-founder Joe Lonsdale, and Google continue to see value in investing in African companies, Bloomberg noted.
The report also highlights that start-ups across the continent almost doubled their debt fundraising in 2025, even as equity financing from venture capital firms declined.
Separately, the Start-up Ecosystem Report 2026 states that Kenya has overtaken Nigeria as Africa’s top startup investment destination, attracting $984 million in 2025.
Jennifer Zabasajja, Bloomberg Television’s chief Africa correspondent and anchor, highlighted the dual significance of the list, the variety of solutions being built and the growing role of African-sourced capital in backing them.
She noted that the list comes at a consequential moment, one shaped by global disruptions, from the conflict in Iran to sweeping cuts in US foreign healthcare assistance, that have made the case for African-owned capital more urgent than ever before.
E-Business
NDPC Raises Alarm: Fake News, Data Abuse Could Destroy Nigeria’s 2027 Elections

Nigeria Data Protection Commission has warned that the growing misuse of personal data and digital platforms could undermine Nigeria’s democratic process ahead of the 2027 general elections.

NDPC
The warning was delivered during the 2026 Press Week organised by the FCT Council of the Nigeria Union of Journalists in Abuja.
Speaking at the event, Vincent Olatunji, national commissioner and chief executive officer, NDPC, who was represented by Itunu Dosekun, head of Media Unit at the commission, said disinformation and unlawful exploitation of personal data posed serious threats to credible elections.
The event had the theme: “2027 Election: Defending Democracy in the Era of Disinformation.”
Dosekun said the struggle for credible elections was no longer confined to polling units, noting that digital platforms had become major channels for manipulated narratives, fake news, propaganda and AI-generated misinformation.
According to him, the rapid growth of social media platforms, messaging applications and data-driven political campaigns has created vulnerabilities capable of influencing voter perception and weakening public trust in democratic institutions.
He warned that the abuse of personal data for political profiling and psychological targeting had become one of the most dangerous threats facing democracies worldwide.
“The misuse of citizens’ personal information carries serious social implications, especially for vulnerable groups who may not fully understand how their data is harvested, processed and weaponised online,” he said.
Dosekun noted that coordinated disinformation campaigns could inflame ethnic tensions, spread fear and discourage civic participation, particularly among young Nigerians.
He described the Nigeria Data Protection Act, 2023, as a critical legal framework aimed at protecting citizens against unlawful data processing and digital exploitation.
According to him, the law gives Nigerians greater control over their personal information while placing obligations on organisations, institutions and political actors to handle data responsibly.
Dosekun also called for stronger collaboration among political parties, media organisations, technology firms, civil society groups and citizens to promote responsible digital behaviour ahead of the elections.
He stressed the role of journalists and media professionals in combating fake news, fact-checking information and safeguarding public discourse.
According to him, protecting personal data should not only be seen as a privacy issue but also as a democratic responsibility necessary for maintaining public confidence, national stability and electoral credibility.
Stakeholders at the event emphasised the need for improved digital literacy, stronger regulation and increased public awareness to prevent the abuse of digital platforms during future elections.
E-Business
Anthropic Raises $65 Bn to Expand AI Research, Innovation

Anthropic, artificial Intelligence company, has said that it has secured sixty-five billion dollars in a new funding round, raising the company’s valuation to about nine hundred and sixty-five billion dollars.

The development places the company ahead of its rival, OpenAI, maker of ChatGPT, which was valued at about eight hundred and fifty-two billion dollars earlier this year.
Anthropic, founded by former OpenAI employees and led by Dario Amodei, chief executive officer, has emerged as one of the leading firms in the global Artificial Intelligence industry.
The company is widely recognised for its advanced coding capabilities and generative AI models, particularly its AI assistant known as Claude.
Unlike some competitors focusing mainly on general consumers, Anthropic has concentrated on delivering AI solutions to enterprise and business clients.
The company also says it places strong emphasis on AI safety while expanding its products and services amid growing competition in the sector.
Krishna Rao, chief financial officer of Anthropic, said the new funding would support the company’s research efforts and help meet rising global demand for its AI technologies.
Reports indicate that the investment round attracted major Silicon Valley venture capital firms, including Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital.
Telecom3 days agoTelcos Mull Calculator to Address Data Depletion Complaints
E-Business3 days agoAnthropic Raises $65 Bn to Expand AI Research, Innovation
General News3 days agoNCDC Says Lagos, FCT, Others on High Ebola Alert
E-Financial2 days agoNigerian Capital Market to Transition to T+1 Settlement Cycle on Monday
Telecom2 days agoNCC Expands IPv6 Board with the Appointment of Olusola Teniola, Funke Opeke Others
E-Business2 days agoReport Shows Start-ups Fuel Innovations in Africa
E-Business2 days agoNDPC Raises Alarm: Fake News, Data Abuse Could Destroy Nigeria’s 2027 Elections
Telecom2 days agoQNET, Manchester City Host Football Clinic for Young Talents in Ghana















