General News
Regulation, Big Operators Emasculate Smaller Firms — Banjo

Bayo Banjo, is president of Nigeria Internet Group (NIG), a non-governmental organisation dedicated to promotion and growth of Internet in Nigeria. A veteran within the business echelons across Nigeria; he is also the CEO of Discom Limited, a leading telco in the forefront of revolutionizing telecommunication industry in Nigeria. Banjo is a pioneer in the fields of satellite communications, digital and mobile telephony and has an outstanding track record spanning a highly acclaimed career in communications, publicity and promotions. His consult is a recognized and highly valued resource. He shared his thoughts with Chike Onwuegbuchi
Internet Connectivity to Rural Areas
This is one of the most difficult things to do particularly in our environment. Abroad they can easily do this because in most cases they have people of integrity running it. If you want to go to a rural area, you go there find somebody who lives in that rural area and that is interested in doing the business. You will find that every village right now has a business centre. Somebody is running some sort of business, whether he is using Vsat or some other device to get the internet. You encourage that kind of person, you bring out special licenses that will cost maybe N2, 000. Do not call it a licence, call it a registration and you show him all the cheap ways that he can set up a proper distribution system. You can even task operators, maybe give them some tax relief if they supply internet to rural area. It must be done with policy and innovative ideas and you must find these people who like such place and want to stay there you encourage them. That is what federal governments do. When governments want to do anything in an unusual environment they send a team to go and investigate. Who are the people who like the environment? These are people who do not want to leave that village. They love the village, they are local champions in the village, if such people go to Lagos they will be nobody, so they are happy in the village. You encourage those kinds of people and say you have this grant from the World Bank, Unesco or whatever, help him with the process to buy small equipment that will cover the village. You then say to the big operators- for every point you provide, we give you a tax relief. You find some policy that will encourage the companies to help assist these people.
Human beings only operate on two fronts and that is the carrot and stick. If you want someone to do something, you either flog him or give him a reward. You must have a team at the NCC that in many cases is talking to this person that is not well educated. His interest is in cybercafé, he has set up his equipment by calling on one small boy from the city. Set up a team to train them to make them aware of how easy it is to provide the service, but that is the problem.
Digitization
First of all I think it was a mistake in the beginning to have allowed the issue of foreign broadcasting. We Nigerians behave as if we do not know anything. In America, unless you are an American citizen, you cannot have an outfit and it does not matter here. Foreign companies come and register and if you make too much noise they will go and get a Nigerian chairman or shareholders. That does not work abroad. You trace the interest, who has control? It does not matter what is on paper. This has been going on for a long time since the 70s.Once you see it is foreign controlled, you stop it immediately. You encourage Nigerians to reach certain level. That should be done in the broadcast industry. You find realistic ways on major policies to ensure that it is a Nigerian broadcaster in control.
Broadcasting is more powerful than military evasion. You can destroy a country by filling it with propaganda and misinformation. The old Soviet Union was toppled without firing a shot, using the media, inciting them into Western and capitalists’ values and the whole empire that was stronger, if not stronger than the United States crumbled on that basis and same thing is happening here. Lots of our values, God so kind, Nollywood has sort of taken off and pushed lots of the foreign films aside. You see films where homosexuality is normal and all these foreign vices. Children being rude to their parents, all these things have depreciated.
As for digitization, it is a welcome development. What I think is going to happen eventually is that there will be emerge of what is called centre point transmission companies. That means we would have two companies in Lagos that would broadcast; because a frequency allocation of 8MGHz in the olden days carrying one channel can now carry 14 to 16 channels. I think what would happen is that they would probably have central points for broadcast and these companies would provide channels.
When you want to broadcast you go to the NBC, you show them how you want to broadcast, what type of programme and the content. They would direct you to the broadcast person who charges a fee per year to help you broadcast and these people would broadcast maybe 50, 100, 200 channels. I do not think if the government is doing their policy right that when they renew the licences of AIT and others, I do not think it should come with a frequency. It would be like what you see with this Chinese company broadcasting for NTA. They are already carrying AIT and all others so the government policy would just say open air, no coding. I mean no payment because all television would be digitized and those televisions that are not would buy a small box so the only thing there is that the government must make sure that the boxes and new television come in. If you want to have a coding system, it must be slot in type card so that it can be changed. If tomorrow this system becomes obsolete, you can take out the card and slot in another card. Those are the standards that should be arranged.
Then of course you must remember that there is going to be broadcasting on the internet. Once we get broadband then a lot of broadcasting would be done on the internet. I think it is a good trend but there and then the government must judge the advantages and disadvantages.
Dwindling Fortune of Small Operators
It is a matter of regulation. Most of the small companies were run out of business by big operators who engage in a systematic approach of sabotage. They are still doing it even among themselves. They do all sorts of sabotage but with the smaller operators they do things like cutting them off. The smaller operators then complain to the NCC. This is a process of letters you see. You complain to the NCC, the NCC then writes the operator saying we heard you cut the small operator off.
Under the procedure, you have to reply within three weeks. By the time you do three or four letters, two months have gone by and the small operator would have lost all his customers. There is no provision for damage. If we have a policy where the NCC says if you cut off this circuit, this is the amount of money the operator was making from you before he was cut off, you will now pay him that amount. Then you could rescue the small operators but right now most smaller operators do not have confidence in the NCC at all. The main thing we must understand is that you cannot progress with a big operator. A big operator by its very design is a saboteur of development. If I am a big operator, I install equipment nationwide and that equipment becomes obsolete, what would be my natural reaction to this? My reaction would be to make sure that none of the new equipment comes out and it is small operators that will bring out new equipment so I would sabotage them and keep the old technology and the old equipment running. This is a natural behavioural pattern. You cannot blame the operators for that but it is up to the NCC to realize that in this business in five years even sometimes three what just came out two years ago would be obsolete today and a big company would always try to get full value for its investments and the solution is to hold everybody back. If you want to get things running in Nigeria, you must have someone in charge at the NCC who has guts, strong, sound and is respected. Until we have such people we are still going to face this problem.
Reviving Smaller Operators
The major problem for small operators is that they do not trust the NCC that it would follow the laws and procedures to protect them from the big operators. It is like when investors are not confident in your country because there is war or whatever unrest in your country. What do you do to regain the confidence? To reassure the small operators, I would say first of all that the NCC should make the licensing procedures swift. Luckily an internet licence is N500,000 but obviously there must be something for the village, what they call registration. Those small companies find it difficult to raise funds because they usually work with their own funds and those from other interested parties so you must first try not to stress them too much.
You must make sure that the NCC branches have full representation, for example if I am in Sokoto, does the NCC have an office in Sokoto? Well, if they have, can the person go to that office and do everything he needs to do swiftly without having to spend money on airfare and hotel anytime he wants to do any little thing flying to Abuja. The NCC branches should be equipped so that when I walk in there, they do things quickly. If they have to do anything at the head office, let it go through the internet, send back the reply and give the authority.
General News
Nigeria Market Powers Jumia’s Momentum as E-commerce Platform Demand Accelerates

Nigeria powered Jumia Technologies AG’s strongest growth in 2025, cementing its position as the company’s most important market as rising consumer demand, SME activity and logistics expansion boosted performance across the e-commerce platform.

In the fourth quarter of 2025, Jumia’s Nigeria operations recorded a 50% year-on-year increase in Gross Merchandise Value (GMV) and a 33% rise in orders. The performance highlighted growing adoption of online shopping and Jumia’s increasing relevance to African consumers.
Nigeria’s momentum helped drive 36% year-on-year GMV growth and 34% revenue growth across the group in the quarter, alongside a 26% increase in quarterly active customers. Growth was supported by stronger customer retention and higher order frequency.
Beyond sales growth, Jumia said its Nigeria operations are delivering wider economic impact. The platform supports thousands of local SMEs, enabling them to reach customers nationwide, while continued investment in fulfilment centres and last-mile delivery is creating income opportunities for logistics partners and sales agents.
Efficiency gains were also evident. Fulfilment costs per order declined 12% year-on-year, contributing to a 39% reduction in operating losses and a 47% drop in adjusted EBITDA losses in the fourth quarter. Cash used in operating activities fell sharply to $1.7 million, compared with $26.5 million a year earlier, while liquidity stood at $77.8 million at year-end.
Temidayo Ojo, Chief Executive Officer of Jumia Nigeria, said the results reflect growing trust from consumers and businesses. “Nigeria is central to Jumia’s growth,” Ojo said. “Each order supports local sellers, delivery partners and jobs, while improving access to affordable products for consumers.”
For the full year, Jumia reported 14% GMV growth and 13% revenue growth, with losses narrowing significantly. Looking ahead, the company expects Nigeria to remain a key growth driver as it targets 27–32% GMV growth in 2026 and aims to reach adjusted EBITDA breakeven by the fourth quarter of 2026.
General News
PalmPay Celebrates Valentine with #LoveWithPalmPay Campaign

This Valentine’s Day, PalmPay is celebrating love in all its forms with the launch of #LoveWithPalmPay, a campaign highlighting how simple, everyday shared money moments can bring relationships closer.

Valentine’s Day is more than grand gestures; it’s built on the small, meaningful actions that shape relationships, sending timely support, saving together, or managing shared responsibilities. PalmPay encourages users to share 30–60 second real-life stories, either solo or duet style, showing how PalmPay always works and has helped them support or stay connected with someone they love.
The campaign runs from February 9th to 21st across Facebook, Instagram, X (formerly Twitter), and TikTok. Four winners will receive ₦100,000 each week for two weeks, totalling a prize pool of ₦800,000.
Entries can take many forms, including couple videos, solo stories, split-screen duets for long-distance couples, or voiceover narratives with photos or clips, making the campaign inclusive for married couples, parents, and long-term partners.
How to Participate:
- Share an authentic love story about your partner
- Clearly show PalmPay in action (transfers, savings, or other in-app activities)
- Be creative and emotionally engaging
- Post between February 9th – 21st with the hashtag #LoveWithPalmPay
- Share on any of PalmPay’s social media platforms
“Love evolves, and so do relationships,” said Olorunfemi Hanson, Head of Marketing and Communication, PalmPay. “From dating to parenthood, the small money moments we share every day play a big role in keeping us connected. With #LoveWithPalmPay, we want to celebrate those stories and show how PalmPay always works, making everyday love simpler, reliable, and meaningful.”
This Valentine’s Day, PalmPay celebrates love as it truly is real, intentional, and built on shared moments.
PalmPay is a leading digital banking platform driving financial inclusion and economic empowerment in underserved emerging markets. Through its secure, user-friendly, and inclusive suite of financial services, PalmPay empowers individuals and businesses with tools to manage and grow their money.
PalmPay offers a comprehensive range of products, including mobile payments, savings, and micro-insurance via its app and mobile money agent network.
Since launching in Nigeria in 2019 under a Mobile Money Operator license, the platform has grown to over 35 million app users and processes up to 15 million transactions daily. PalmPay has operations in Nigeria, Ghana, Tanzania, and Bangladesh. For more information, visit www.palmpay.com
General News
CBN, NCC Propose Instant Refunds for Failed Airtime, Data

Central Bank of Nigeria (CBN)and the Nigerian Communications Commission (NCC) have proposed that customers must receive refunds within 30 seconds for failed airtime and data purchases to curb persistent billing complaints in the telecommunications sector.

This was indicated in the Exposure Draft of the Joint CBN–NCC Framework for Resolution of Failed Airtime and Data Purchase Transactions, which was published on the website of the CBN on Monday.
The landmark exposure draft, dated 5 February 2026, seeks to “institutionalise clear accountability” and establish a “coordinated approach to consumer redress” across the financial and telecommunications sectors.
The most significant shift in the proposed framework is the introduction of standardised, automated timelines for resolving failed transactions.
Currently, Nigerians often face long delays when airtime purchases fail at the bank, aggregator, or Mobile Network Operator level.
To solve this, the regulators have proposed a 30-second window for automated reversals. Section 6.0 (ii) of the draft exposure, which dwelt on failed transactions, especially as it relates to unfulfilled airtime/data delivery, proposes a time to refund the purchaser of 30 seconds “if the transaction failed at the bank level… Failed transaction delivery from NCC Authorised Licensees… Failed transaction delivery from MNO to the NCC Authorised Licensee.”
The draft emphasised that stakeholders must “automate reversal processes across all stakeholders” to ensure that refunds require no human intervention from the customer.
The draft exposure also stated that “all parties involved in airtime and data transactions shall take the following actions to ease usage and facilitate consumer satisfaction: a. Stakeholders must immediately connect ONLY to relevant authorised licensees of the NCC and CBN. b. MNOs and banks must only connect to NCC Authorised Licensees/MNO digital channel partners for airtime and data vending… Notifications of failure create final settlement obligations between MNO and NCC-authorised licensees… The NCC and CBN will audit stakeholder compliance jointly or individually at quarterly or other intervals as may be determined.”
From a business and oversight perspective, the regulators are proposing a Central Monitoring Dashboard to be hosted jointly by the CBN and NCC, which will track reversals, Service Level Agreement breaches, and customer complaints in real-time.
“There shall be a Central Monitoring Dashboard hosted by CBN/NCC for tracking reversals, SLA breaches, and customer complaints. This will facilitate the establishment of a real-time national ‘Failed Transactions Dashboard’ with a uniform error code with end-to-end visibility across the value chain’, read the draft exposure.
This is designed to eliminate the “unclear ownership of liability” that often occurs when banks and telcos blame each other for failed recharges. To support this, banks and MNOs will be required to maintain and share daily reports of successful and failed cases.
The proposed framework also addresses the common problem of “lost” money when customers recharge ported phone numbers. The draft mandates that MNOs must validate a phone number against the ported number database before processing any recharge. If the system identifies a number as ported out or invalid, it must “proactively stop recharges” and send a failure code back to the bank to ensure the customer is not debited.
For erroneous recharges sent to the wrong person, the framework sets clear protocols: below N20,000, MNOs will request the recipient’s consent before a reversal, and when it is above N20,000, an affidavit of indemnity or notarised letter is required to process the recovery.
The CBN and NCC in the exposure draft signalled they will take a firm stance on compliance. Both agencies will conduct joint quarterly audits of all stakeholders, including banks, payment service providers, and MNOs, to verify compliance with the new rules. The regulators have warned they will “impose penalties for any breach” of the framework’s provisions.
Banks and other financial institutions have until 10 February 2026 to submit their inputs on the draft before it is finalised. Once implemented, the framework is expected to significantly restore “subscriber trust” in Nigeria’s digital financial ecosystem.
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