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Removal of ATM Charges to Wait Till May Next Year

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The removal of charges on Automated Teller Machine (ATM) for inter-bank withdrawals would only be possible from the second quarter of next year because enormous works are still required to implement the agreement of the Bankers’ Committee, Nigeria CommunicationsWeek can now reveal.

Bankers’ Committee, a regular and compulsory meeting between the Central Bank of Nigeria (CBN) and all the managing directors of commercial banks operating in Nigeria had in November agreed to remove the N100 ATM inter-bank charge.

After the initial jubilation that greeted the removal of the charges, various reasons have been advanced by both banks and switching companies why the implementation would not be effected immediately.

Image-makers of banks under the aegis Association of Corporate Affairs Managers of Banks (ACAMB) said that the banks would strive to remove impediments towards the scrapping of the charge.

Mr. Tunde Sofowora, president, ACAMB said that  “The rough edges will be smoothened in a few days and customers will enjoy this,” new freedom of using ATM charge.”

He urged customers to be patient to allow banks to work out modalities with third party service providers on implementing the scrapping.

Elsewhere,  Ugo Okoroafor, director, Corporate Affairs, CBN said the apex bank would continue to remind the banks to honour their decision and encourage them to abide by it in the interest of the customers.

He said that the directive was not directly from the CBN but “they thought it wise to scrap the charges.”

Nigeria CommunicationsWeek gathered however that the Bankers’ committee has just constituted a smaller committee that will work out the modalities for the implementation of the removal of the ATM charges.

The committee has just settled down to work and this forecloses any hope of implementing the removal of the charges this year.

The committee is expected to work out how to pay for charges accruing to switching companies which are not members of the Bankers’ committee as well as other charges involved in the process of such transactions.

Nigeria CommunicationsWeek  also gathered that going by the scope of work that the committee has been saddled with ,it is expected to conclude its work by the end of first quarter of 2013, while the full implementation will commence by second quarter when it must have been approved.

Inter-bank transactions on the ATM cost the cardholder making the withdrawal N100 per transactions, while intra-bank withdrawals are not charged by some banks.

Nigeria CommunicationsWeek investigations revealed that the N100 charge for the inter-bank withdrawals from the machine is shared among three parties in the transactions which included, the bank that issued the card, the bank that owns the ATM both shares N65 while the switching company that provided the platform that coordinated the handshake gets N35.

The major obstacle to the implementation of this directive, it was learnt is how the pay switching companies that provided the platform upon which the transaction was carried out.

It would be recalled Bisi Onasanya, managing director, First Bank, who was flanked by Agnes Olatokunbo, CBN Director of Banking Supervision, Emeka Emua, Group Managing Director, Union Bank and Shehu Mohammed, Acting Managing Director of Keystone Bank, had said the bankers agreed to start bearing the N100 cost rather than leaving it for customers to pay.

He said the committee would schedule subsequent meetings and work out modalities that will make commercial banks bear the cost, adding that the decision was in line with global best practice.


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ALX Broadens AI Training in Africa

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Pan-African talent accelerator ALX is expanding its footprint and shifting to a fully self-paced learning model to train and integrate young Africans into the workforce, as the global economy reorganises around artificial intelligence (AI).

Partnering with the MasterCard Foundation, the technology training provider and career accelerator designed to equip African talent, says it enables learners to access tech training for $5 a month.

It emphasises a shift in demographics saying that by 2035, more young Africans will enter the workforce annually.

ALX notes that its model has graduated 347,100 learners, with 63% finding employment within six months. Women represent over half of all graduates. To increase flexibility, the organisation emphasises that learning is now entirely self-paced.

“Learners progress through modular blocks, earning credentials as they go, ensuring that the training fits around their existing responsibilities,” says Shana-Michelle Rabonda, Chief Operating Officer of ALX.

Rabonda adds that global employers are taking notice: “We are building a direct pipeline to the global digital economy. When companies look for elite tech talent, they are looking at Africa.”

Due to this demand, firms such as Absa, Stanbic Bank, MTN, and KPMG now employ between 50 and 180 ALX graduates each. Meanwhile, community entrepreneurs have created over 60,100 jobs through AI startups like Signvrse and Edulga.

With Africa’s AI market projected to grow to $16.5 billion by 2030, ALX operates alongside competitors like Moringa School and GoMyCode to secure mindshare.

“With the right skills and networks, young Africans can seize these opportunities,” Rabonda emphasises. “Africa’s youth should not just be consumers of AI; they should be creators shaping innovations that will define the global economy.”


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Swift Network Faces Winding-up Battle over Alleged N115m Debt

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A Federal High Court sitting in Lagos has ordered the advertisement of a winding-up petition filed against telecommunications service provider, Swift Network Plc, over its alleged inability to settle a debt exceeding N115 million.

The order followed an application filed by Optics and Wireless Limited through its counsel, Bimbo Adebayo-Ogunlaja, urging the court to permit the publication of the winding-up petition instituted against the company.

In the petition, Optics and Wireless Limited alleged that Swift Network Plc is indebted to it in the sum of N115,482,302.88, being the outstanding payment for network devices supplied to the telecommunications firm since April 2024.

The petitioner is also seeking the payment of N70,530,062 as accrued interest arising from a loan facility allegedly obtained to finance the transaction between both parties, as well as general damages for breach of contract.

According to court documents, the dispute arose from a series of transactions carried out between April 2024 and February 2025, during which Swift Network Plc, through its procurement officer, allegedly requested the petitioner to manufacture and supply various network devices based on purchase orders issued by the company.

The petitioner stated that payment for the supplied items was expected either immediately after delivery or within 30 days of supply, but alleged that Swift Network repeatedly failed to honour the agreement despite receiving the products.

Optics and Wireless Limited further claimed that it became apparent after the final order for servers in April 2025 that the respondent was either unwilling or unable to settle the accumulated debt.

The petitioner also informed the court that its solicitors, Messrs Zionla Legal Practitioners & Solicitors, subsequently issued a statutory notice of demand dated December 11, 2025, demanding payment of the outstanding sum and accrued interest.

According to the petitioner, all efforts to recover the debt proved unsuccessful, adding that the situation has exposed the company to serious financial challenges and possible legal action from the bank that allegedly granted it the loan facility used to execute the supply contracts.

Optics and Wireless Limited argued that Swift Network Plc is insolvent and unable to meet its financial obligations, urging the court to wind up the company in line with the provisions of the Companies and Allied Matters Act and the Winding-Up Rules.

Among the reliefs sought, the petitioner asked the court to order that Swift Network Plc be wound up by the court and that any voluntary winding-up process involving the company should continue under the supervision of the court.

Justice Lewis Allagoa subsequently adjourned the matter till July 10 for further hearing.

 


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Simba Infrastructure, Galaxy Backbone Partner to Deliver Hosted Unified Communications and Call Centre Solutions Across Nigeria

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Aminu Usman, Profit Centre Head, SIMBA, Dr. Abdul-Malik Suleiman, GM Strategic Partnerships & Regions, Galaxy Backbone Ravi Bajaj, GM Sales SIMBA and Ramatu Buhari, GM Sales, Galaxy Backbone Limited
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Simba Infrastructure Limited, a leading provider of customer experience and communications technology, has entered into a strategic partnership with Galaxy Backbone Limited (GBB), the Federal Government of Nigeria’s ICT infrastructure and shared services provider, to deliver Hosted Unified Communications (UC) and Hosted Call Centre Solutions to organisations across both the public and private sectors.

This collaboration brings together Simba Infrastructure’s deep expertise in converged communication technologies, systems integration, and private-sector engagement with Galaxy Backbone’s trusted government relationships, world-class Tier III and Tier IV data centre infrastructure, and an extensive fibre-optic network spanning 30 states and the Federal Capital Territory.

Together, both organisations will deliver secure, scalable, and cost-effective communication solutions designed to transform how businesses and government institutions engage with customers and citizens.

Under this this partnership, Simba Infrastructure will lead business development efforts within the private sector, delivering tailored Unified Communications and Call Centre solutions aligned with the unique needs of enterprises. Galaxy Backbone, on the other hand, will drive adoption within the public sector, providing secure, locally hosted data centre services that ensure compliance, reliability, and operational efficiency.

Commenting on the partnership, Sanjay Vaswani, Director at Simba Infrastructure said: ”Simba is pleased to mark this first phase of collaboration, with a long-term vision of deploying fully localized, AI-driven technologies that enable developers to build and scale using Naira-based solutions.

“While Aminu Usman, Profit Centre Head at Simba Infrastructure tressed on the fact that partnering with Galaxy Backbone will marks a significant milestone in our mission to deliver innovative, cloud-based communication solutions to Nigerian organizations.

“By combining Galaxy Backbone’s robust infrastructure and strong public sector presence with Simba’s customer-centric approach and technological expertise, we are creating a powerful platform to drive digital transformation and business growth.”

Also speaking, the GM Strategic Partnerships & Regional Business, Galaxy Backbone Limited,  Abdul-Malik Suleiman noted; “Galaxy Backbone remains committed to advancing digital inclusion, secure communication, and reliable ICT services across Nigeria. Our partnership with Simba Infrastructure strengthens our ability to deliver innovative, locally hosted Unified Communications and Call Centre solutions that will benefit both public and private sector organisations.”

This partnership underscores a shared commitment to advancing Nigeria’s digital transformation agenda by equipping organisations with the tools to enhance collaboration, streamline communication, and improve customer experience—while ensuring that critical data remains securely hosted within Nigeria.

 


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