Connect with us

Telecom

Nigerians Lose N12.5bBn to Telecom-Related Financial Crimes – PwC

Published

on

Kindly share this post

Nigerians lost about N12.5 billion to telecom-related financial crimes from 2019 to January 2023, underscoring the scale and persistence of this threat to the telecommunications industry, PwC Nigeria has said, citing data from the Nigerian Communications Commission (NCC).

Nigerians Lose N12.5bBn to Telecom-Related Financial Crimes - PwC

PwC, in its latest report, ‘AI’s Dual Role in Telecom Fraud: Why Artificial Intelligence is Both a Threat and a Shield for Telcos’, said the growing adoption of AI by fraudsters is amplifying the frequency and impact of fraud.

The report said fraud has long been a persistent challenge in the telecoms landscape, leading to substantial financial losses for customers and reputational damages for telecommunication companies (telcos).

PwC’s latest report, ‘AI’s dual role in telecom fraud’, highlights global trends in how AI is reshaping both the threats and defences in telecommunications.

The publication examined what these shifts mean for operators in the local market and how they can stay ahead by adopting proactive, AI driven fraud management strategies.

It offered insights into how AI is enabling more sophisticated fraud schemes, from deepfake social engineering to automated attacks; the emerging role of AI powered detection and monitoring tools in strengthening fraud prevention frameworks.

The report also gave practical steps for telecom operators to balance innovation, resilience, and customer trust in an AI driven fraud ecosystem.

PwC noted that the impact of fraud on telecommunications companies is far-reaching, resulting in financial losses, reputational damage, and compliance issues.

The report said for instance, that in 2023, global telecom fraud was estimated at $38.95 billion.

It, however, stated that in Nigeria, where telecom acts as a key gateway to financial services through Unstructured Supplementary Service Data (USSD) and some are moving into fintech, these evolving risks place added pressure on operators.

The report stated that while operators have developed systems and controls to manage these risks, the sector’s expansion into adjacent domains (such as mobile money and payment service banking) is blurring the traditional boundaries of telecom fraud.

“The result is a more complex and interconnected risk environment, where both the frequency and impact of fraud are escalating. Adding to this complexity is the rapid pace of technological advancement.

For instance, Russian cybersecurity firm F6 reported a rise in SIM swapping incidents, particularly related to the shift to eSIM technology. These fraudsters are hijacking phone numbers and bypassing security measures to access bank accounts,” the report said.

The report, authored by Udochi Muogilim, Partner and Technology, Media and Telecommunications Leader,  PwC Nigeria, and Adeola Adekunle, associate director, Forensic Services,  however, said as AI continues to mature, it is reshaping the fraud landscape—introducing heightened threats and powerful new tools.

“On one hand, AI can be exploited to scale and automate fraud schemes with unprecedented sophistication. On the other, it equips telcos with advanced capabilities for fraud detection, prevention, and response.

“This dual role—AI as both a tool and a target—underscores the urgent need for Nigerian telecom players to adopt AI thoughtfully and strategically.

“Navigating this evolving landscape requires more than just investment in technology; it demands a deep understanding of what’s happening today in the world of technological disruption, and what’s to come,” the experts stated.

The report reiterated that telecom fraud affects a wide range of stakeholders, from individual consumers facing unauthorised charges to large corporations suffering reputation damage.

“The combination of AI and various fraud types significantly increases the success rate of these schemes.

“Furthermore, the global nature of telecommunications networks allows fraud to swiftly cross borders, complicating efforts to investigate and prosecute offenders, thus presenting a pressing concern for telecom companies and their regulators,” PwC said.

The firm, however, emphasised that AI has the potential to revolutionise how telecom companies and regulators combat fraud while enhancing the quality of service, ultimately fostering greater trust among consumers.

To fully harness this potential, PwC said it is crucial for industry players to stay informed about evolving technology trends and anticipate future challenges.

This awareness, it added, will empower them to leverage AI’s capabilities for more effective fraud prevention and the proactive management of emerging fraud types, all while adhering to responsible AI principles.

“A well-coordinated combination of the right resources and strategic alliances will enable the industry to make a significant impact in the fight against telecom fraud and build a safer, more efficient telecommunications ecosystem,” PwC affirmed.

The firm even went a notch higher by offering to help industry players and stakeholders turn fraud-related friction into forward movement, powered by the right technology.

“We bring trust and transparency to the heart of your decision-making, helping you use AI, data and tech to reduce the risk of fraud, respond swiftly to breaches, and emerge stronger—so you can prepare your business for what’s next,” PwC offered.

 


Kindly share this post

Ebere Melum-Nwogbo is a trained and practicing journalist. She is passionate about ICT and business journalism. She has over a decade experience spanning money and capital market as well as information technology

Telecom

UK Bans TikTok, Instagram, Facebook for Under-16s in Landmark Crackdown

Published

on

Kindly share this post

British Prime Minister Sir Keir Starmer has announced plans to ban children under the age of 16 from accessing major social media platforms, describing the move as necessary to protect young people from online harm.

UK Bans TikTok, Instagram, Facebook for Under-16s in Landmark Crackdown

The proposed restrictions will apply to platforms including TikTok, Instagram, Facebook, Snapchat, YouTube and X.

Messaging services such as WhatsApp and Signal will not be affected by the measures.

In a recorded video message released on Monday, Starmer said the government was taking decisive action in response to growing concerns about the impact of social media on children’s wellbeing.

“It’s a big step for our country. Social media is making our children unhappy and unsafe, and as a parent, as much as a Prime Minister, I just can’t let that go on anymore,” he said.

The announcement follows a national consultation conducted between March and May, which received more than 116,000 responses on children’s use of technology.

According to the findings, more than 83 per cent of parents believed the risks associated with social media outweighed its benefits, while 90 per cent supported setting 16 as the minimum age for accessing social media platforms.

The British government said legislation would be introduced before Christmas, with the protections expected to come into force next spring.

Under the proposed framework, children under 16 will also be prevented from using livestreaming features and from communicating with strangers on affected platforms.

Starmer acknowledged that implementing age restrictions would be challenging but said the government had carefully reviewed available evidence and lessons from other countries before deciding to proceed.

“It’s not an easy thing to do. We haven’t rushed into it. We’ve looked carefully at the evidence and will continue adapting our approach as technology changes,” he said.

The Prime Minister also signalled a willingness to confront major technology firms that may oppose the policy.

“We will take them on, and we will win, because the need for action could not be any clearer,” he added.

The move comes amid increasing global efforts to regulate children’s access to social media.

Last year, Australia became the first country to enact legislation restricting access to major social media platforms for children under 16.

However, Australian authorities have reported enforcement challenges, with a recent study indicating that many children continued to maintain accounts despite the restrictions.

Alongside the proposed ban, the British government announced a £132.5 million “Every Child Can” programme aimed at expanding access to sports, arts and nature-based activities in schools and local communities as alternatives to excessive screen time.

The initiative follows recent calls by the government for technology companies, including Apple and Google, to strengthen safeguards preventing children from taking, sharing or viewing nude images online.

The government said the measures were designed to combat online exploitation, reduce children’s exposure to harmful content and improve online safety.

Meanwhile, social media companies in the United States continue to face legal challenges alleging that their platforms contributed to mental health problems among young users and failed to adequately protect children from online predators.

Supporters of stricter age-verification requirements argue that they are necessary to shield children from harmful online content, while critics have raised concerns over privacy, data protection and freedom of expression.


Kindly share this post
Continue Reading

Telecom

TikTok Is Changing Football Fandom in Nigeria — New Data Proves It

Published

on

Kindly share this post

TikTok says football remains one of the strongest passions among its users in Nigeria, with 59 per cent of users on the platform following the sport.

TikTok Is Changing Football Fandom in Nigeria — New Data Proves It

TikTok

The social media platform disclosed this in a report highlighting the growing influence of football communities and sports content across Sub-Saharan Africa.

According to TikTok, 28 per cent of its users in Nigeria actively participate in football, underscoring the sport’s significance as a cultural touchpoint and a driver of engagement on the platform.

The report noted that football-related hashtags such as #football, #soccer, #SuperEagles and #NaijaFootball have become active hubs for fan reactions, commentary, highlights and match-day conversations.

TikTok said it had evolved into a leading platform for sports entertainment and football culture, bringing together fans, athletes, clubs and content creators through its #SportsOnTikTok initiative.

It revealed that more than 6.5 million videos had been created under the #SportsOnTikTok hashtag, reflecting growing interest in sports content ranging from match reactions and tactical analysis to creator-led storytelling.

“Football communities across Africa are increasingly using TikTok to celebrate their teams, share reactions, debate key moments and connect with global football audiences in authentic and engaging ways,” the report stated.

The platform also highlighted strong engagement during the 2025 Africa Cup of Nations (AFCON), noting that more than 1.2 million posts were created globally under the #AFCON2025 hashtag.

According to TikTok, 28.6 per cent of those posts originated from Sub-Saharan Africa, reinforcing the platform’s role as a major destination for football fans following tournaments in real time.

The report further showed that sports content on TikTok continues to influence audiences beyond the platform.

It stated that 85 per cent of sports fans globally use TikTok as a second-screen experience while watching sporting events, while 42 per cent are more likely to tune into live matches after viewing sports content on the platform.

Additionally, 90 per cent of fans reportedly take at least one action outside the platform after watching sports-related content, while 72 per cent enjoy viewing fan edits, reaction videos and other fan-generated sports content.

TikTok also highlighted the increasing participation of women in sports conversations on the platform.

According to the report, 64 per cent of women globally choose TikTok as their preferred destination for sports content, accounting for 46 per cent of all sports-related views on the platform during the first half of 2025.

The company said the findings reflected a new era of digital sports engagement in which football and other sporting experiences extend beyond the pitch through fan participation, content creation and online communities.

It added that TikTok was becoming a key destination for the next generation of football fandom, transforming passive viewership into active participation through shared experiences and real-time interactions.


Kindly share this post
Continue Reading

Telecom

Nigeria Innovation Summit 2026 Set to Convene West Africa’s Brightest Minds to Shape the Future of Innovation

Published

on

Kindly share this post

InnovationHub Africa, Africa’s foremost driver of technology and innovation, is proud to announce the Nigeria Innovation Summit (NIS) 11.0, the 11th edition of West Africa’s biggest and most celebrated innovation gathering, scheduled for October 6, 2026, at the Shell Hall, Muson Centre, Lagos.

Nigeria Innovation Summit 2026 Set to Convene West Africa’s Brightest Minds to Shape the Future of Innovation

Nigeria Innovation Summit 2026

The Summit promises to be the most ambitious, high-impact edition yet, bringing together Nigeria’s most brilliant minds, innovators, startups, trailblazing entrepreneurs, global thought leaders, and policy architects under one electrifying roof.

Disclosing the event’s agenda, Mr. Tony Ajah, the Programme Director of the Summit says, “The theme for this year’s event is ‘Innovating in the Age of AI’.” The theme confronts one of the defining questions of our time: how can Nigeria and Africa harness the power of AI to drive transformative innovation, accelerate economic growth, and compete boldly on the global stage?”

“We are living through the most consequential technological shift of our generation. AI is happening right now, reshaping industries, redefining careers, and rewriting the rules of competition. As AI reshapes every sector from agriculture to fintech, from healthcare to education, we are creating the most critical space for Nigeria’s innovators to get ahead of the curve,” Mr. Ajah says.

“NIS 11.0 is our clarion call to every Nigerian innovator and institution to get in the room, understand the wave, and ride it. We must not be spectators in the AI revolution but architects of it. So, this year’s event will go beyond inspiration to deliver actionable insights and measurable impact, empowering stakeholders to build resilient and future-ready systems,” he added.

NIS has established itself as a premier platform for advancing technology, entrepreneurship, and sustainable development, and continues to foster cross-sector collaboration and inspire solutions to pressing socio-economic challenges. It brings in experts within the Nigerian innovation ecosystem and around the world to connect, share ideas, and collaborate.

This year’s event will feature insightful discussions, Nigeria Innovation Experience talks (NiX Talks), innovative showcases of emerging technologies and their applications, workshops, fireside chats, startup pitches, and exhibitions. The Summit will climax with the 2026 Nigeria Innovation Awards.

Beyond discussions, the Summit is designed to catalyze strategic partnerships, investment opportunities, and policy directions that support innovation-led growth. Through previous editions, NIS has attracted over 15,000 delegates, 240 speakers and panellists, 100 tertiary institutions and research centres, 40 government ministries, attendees from 36 states, over 170 sponsors and partners, 42 countries, and over 97 innovation award recipients.

Participation in this event is open to local and international businesses, innovators, startups, MSMEs, public and private institutions, embassies/high commissions, investors, the academic community, and all the stakeholders in the innovation ecosystem. The event will also be live-streamed to a wider audience across Nigeria and beyond. Attendance is free and open to all registered delegates.

NIS 11.0 offers great opportunities through sponsorship, partnership, and exhibitions of innovative products, ideas, and services. For more inquiries and participation, please visit: https://innovationsummit.ng/


Kindly share this post
Continue Reading

Trending