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Nigerians Trust Phones More than Banks-Study

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Preliminary findings from a mobile perception survey have shown that Nigerians trust mobile phones more than banking institutions and suggested that mass banking through the mobile is imminent in the country.
The survey conducted by MobileMoneyAfrica, Africa’s leading resource for mobile financial inclusion was exclusively shared with Nigeria CommunicationsWeek.
Mobile perception survey, a five months study, due for final release by end of March drew from interviews and questionnaires conducted in the six states across the geopolitical zones of Nigeria.
According to the study, more than 65 percent of the semi urban and rural population that were interviewed completely choose to have mobile phones as the primary channel for financial services rather than visit a bank. Another 95 per cent choose not to go back home to pick their cheque book/ savings books but will go back to pick their phones if left at home.
Emmanuel Okoegwale, lead researcher said that the study is direct attestation of the growing influence of mobile money.
Nigeria CommunicationsWeek gathered that though mobile phone banking is yet to take root in Nigeria, the initiative is however expanding across the African continent from South Africa to Kenya and is putting the poor directly in control of their own finances like never before.
In Africa, traditional banking is not a viable option for many of the poor and those living in rural areas. High fees, low education and literacy, as well as long distances between banking facilities get in the way of simple transactions.
According to the Consultative Group to Assist the Poor (CGAP), an estimated 80 percent of those living in the United Nations-designated least developed countries (LDCs) are unbanked.  However, technologies like mobile phone banking are contributing to overcoming these constraints.
That is not to return a damning indictment on the banking institutions because the mobile perception survey found that 45 per cent of the study group is comfortable going to the bank branches to receive international remittances. Also 25 percent said that they can explore options likes ATM while 30 per cent said they will access remittances from post offices and approved agents if possible in their own domains.
Nigeria CommunicationsWeek gathered that the study also found that 72 percent of the people receiving remittances do not have an account and when asked why, they claimed that the amount usually received is for pressing needs which had to be disbursed as soon as possible.
Other said the currency in which they received do not encourage them to open an account and that the banks did not offer any incentive for them to open an account at the point of receiving.
On alternatives to sending low value remittances locally, only 25 per cent agreed to have received or send airtime as a means of value to be sold at a discount at a nearby airtime dealer outlet  while  majority expressed frustrations in monetizing values that were more than N3,000 ( for instance) airtime face value.
The final report promises to be very comprehensive and will guide the industry as financial institutions and mobile operators set to roll out mobile money services in coming months.
The outcomes also support the use of agents to reach the unbanked millions in Nigeria and placing Nigeria on same status with Kenya and Brazil. In Brazil alone, Lemon Bank operates with no single Bank Branch and reaching customers through 6,500 agents.
Okoegwale, the lead researcher has been actively involved in many mobile commerce initiatives local and internationally. Apart from promoting MobileMoneyAfrica, he also serves on the board of the world’s first open source mobile finance platform, FrontlineSMS credit in USA and serving alongside the likes of Witney Schneidman, co-chair of the Obama Africa Transition Team.
He is also an executive director at the mobile authentications solutions provider in West Africa, Tagattitude Nigeria. Drawing from his field experiences with his team of 300, he plans to take financial services to the door step of every Nigerian in coming months by championing ‘commoditizing’  of banks accounts in Nigeria.
He is a man who wants to put Nigeria in the Guinness Book of World Records by deploying the most extensive Human ATM network on the face of the earth, using gas stations, eateries, stores and merchants all over Nigeria.

 

 


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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.

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Stanley Amandi, Nollywood Actor Arrested over Alleged Coup Plot against Tinubu

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Stanley Amandi, veteran Nollywood actor and filmmaker, has been arrested by the Nigerian military over his alleged role in a foiled coup plot to overthrow President Bola Tinubu’s government, according to an exclusive report by Premium Times.

Stanley Amandi, Nollywood Actor Arrested over Alleged Coup Plot against Tinubu

Stanley Amandi, Nollywood Actor

The filmmaker, also a former chairman of the Actors Guild of Nigeria (AGN) Enugu State chapter, was reportedly detained in September 2025 alongside several military officers accused of planning a violent overthrow, including potential assassinations of top officials, according to the newspaper’s sources.

Reports indicated that the coup plotters planned to wholesale assassination of top government officials including President Tinubu, Vice President Kashim Shettima, Senate President Godswill Akpabio, and Speaker of the House of Representatives Tajudeen Abbas, among others.

On Monday, the Defence Headquarters confirmed the plan to illegally oust the Tinubu administration, saying the indicted officers will be arraigned before military judicial panels.

In its statement, the Defence Headquarters said the investigation has been completed and forwarded to “appropriate superior authority in line with extant regulations.”

According to the military, the investigation was “comprehensive” and conducted in line with established procedures, examining “all circumstances surrounding the conduct of the affected personnel.”

The military disclosed that the findings identified “a number of the officers with allegations of plotting to overthrow the government,” describing such conduct as “inconsistent with the ethics, values and professional standards required of members of the Armed Forces of Nigeria.”

Mr Amandi has featured in many Nollywood movies and is known for his work as an actor, production manager and director.

His notable works include “The Album,” where he served as director; “Tiger King,” where he also served as director and produced in 2008; “Cornerstone,” produced in 2019; and “Once Upon a Dream,” in which he appeared as an actor in 2024.

Mr Amandi’s last Instagram post was on 19 September 2025, shortly before his arrest.


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Firms Commit to Boost African Robotics Market

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AfricAI and Micropolis Robotics have signed a multi-year exclusive distribution and deployment agreement, which marks one of the continent’s most significant robotics market entries.

Micropolis AI Robotics is a United Arab Emirates-based robotics manufacturer operating in autonomous systems, while AfricAI is a company building practical, revenue-driven artificial intelligence (AI) systems for African businesses, governments, and global partners operating in emerging markets.

According to the agreement, Micropolis Robotics named AfricAI as its exclusive continental partner, prohibiting direct sales, alternative distributors, and third-party agents from operating in the territory.

The partnership establishes AfricAI as the primary execution, localisation, and go-to-market platform for intelligent robotics in Africa’s industrial, security, logistics, and infrastructure sectors.

AfricAI said this exclusive mandate positions the company as the gateway for advanced autonomous systems entering African markets, ensuring regulatory compliance, local capacity building, and sovereign control over deployment frameworks.

The partnership, according to the two parties, moves beyond software- based AI into the realm of physical AI — intelligent machines capable of operating in complex, real-world African environments.

“This is not a collaboration, it is a market-shaping mandate,” said Fareed Aljawhari, CEO of Micropolis Robotics. “AfricAI now represents the exclusive gateway through which Micropolis technologies enter Africa. Their sovereign AI vision, operational reach, and regulatory fluency make them the only partner capable of executing at a continental scale.

Furthermore, the agreement enables AfricAI to integrate Micropolis’ autonomous robotics systems with AfricAI’s sovereign AI stack, resulting in AI-powered security and surveillance platforms, robotics-enabled logistics and port operations, industrial automation, smart infrastructure, and municipal robotics tailored to African operating conditions.

Initial deployments will commence in security, smart infrastructure, and logistics, with phased expansion across multiple African states as part of AfricAI’s broader continental AI, data, and intelligent infrastructure strategy.

The agreement also includes long-term performance-linked expansion rights, automatic renewals, and a defined localisation framework to support robotics deployment, workforce training, and skills transfer across Africa.

Prince Malik Ado-Ibrahim, executive chairman of AfricAI, said: “Africa does not need imported automation — it needs sovereign, context-aware intelligent systems. This exclusive mandate allows AfricAI to industrialise robotics deployment at scale while retaining control, compliance, and value creation on the continent.”

 


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Subair: LIRS Won’t Raid Accounts – Unless You’ve Lost Every Court Battle

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Lagos State Internal Revenue Service Executive Chairman Ayodele Subair Tuesday demolished online panic over alleged bank account raids, insisting the agency’s “Power of Substitution” targets only hardcore tax dodgers who have exhausted every appeal from tribunals to the Supreme Court over half a decade of disputes.

Subair: LIRS Won't Raid Accounts – Unless You've Lost Every Court Battle

Ayodele Subair

Subair, speaking on Arise TV, shredded viral fears that LIRS would swoop on residents’ savings without warning, clarifying the mechanism under Section 60 of the Nigeria Tax Administration Act 2025 kicks in solely after assessments spark objections, reconciliations, demand notices, and a gruelling courtroom odyssey through High Court, Court of Appeal, and apex rulings.

The LIRS weekend notice had ignited fury by announcing enforcement via third parties – banks, employers, tenants, debtors – to claw back unpaid Personal Income Tax, Capital Gains Tax, Stamp Duties, and Withholding Tax from chronic defaulters holding funds or owing money to them, whether due now or accruing later.

Subair likened the process to a “long timeframe, not less than five years,” where recalcitrant bigwigs who stonewall every step become fair game, with LIRS directing agents like customers or partners to divert payments straight to the taxman in lawful settlement.

Far from arbitrary grabs, the chairman stressed it’s a final resort for “entirely recalcitrant” holdouts who ignore Notice of Refusal to Amend (NORA) and every olive branch, ensuring Lagos coffers snag rightful revenue fuelling the state’s bulging budget without shotgun raids on compliant payers.

As social media buzzes with defiance – “They can’t touch my account!” – Subair’s blueprint spotlights Nigeria’s tax evasion scourge starving subnationals of trillions yearly, with Lagos alone chasing billions in arrears amid federal revenue wars and economic headwinds squeezing the commercial capital’s 25 million souls.

Industry voices nod to the legality but plead for digital dashboards tracking disputes transparently, warning overzealous recovery could spook investors in Africa’s fintech and startup mecca already reeling from naira nosedives and grid glitches.

With LIRS poised to unleash the hammer on vetted violators, Subair’s clarion call aims to separate myth from muscle, bolstering Lagos’ IGR juggernaut that hit N815 billion last year while daring defaulters to test the full judicial gauntlet before crying foul.


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