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Technext Rallies Blockchain Stakeholders on the Future of Digital Currencies @ Africa’s Largest Cryptocurrency Gathering in Lagos

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Technology news platform, Technext, held the maiden edition of its Technext coinference on Thursday, December 9th at the Pistis Conference Center in Lekki, Lagos.

During a Panel session themed ” Blockchain: Opportunities for Africa” at the event on Thursday, in Lagos.

The event, with the general theme “Reimagining crypto as the future of finance,” gathers brilliant minds in the Nigerian blockchain sector to have essential discussions about the future.

David Afolayan, Content chief at Technext, in his opening address reiterates that it is important to have such a conversation around digital currencies as it is the new approach to trade and central to our survival.

“We need instruments to achieve conveniences, and trade is that instrument. Trade has taken different forms, and now we are lucky to be at the foothold of that change where digital currencies are replacing fiat money and we can transact without borders. ” – Content chief at Technext, David Afolayan,

He also noted that the rules guiding trade many years ago are no longer applicable and many people are not finding that convenient. To address these concerns, innovators, enthusiasts, and regulators need to have a conversation, one that the event provides.

The hybrid event brought together individuals and institutions from across Nigeria and beyond. Stakeholders and individuals from regulatory bodies were also present at the event.

Giving a keynote address at the event, Prince Clem Ikanade Agba, minister of state budget and national planning, stated that the event captures the mutual desire of the government and its citizens to explore innovative methods towards economic recovery, growth, and development.

According to the minister, the government remains enthusiastic about the numerous possibilities the crypto industry provides despite the seemingly growing restrictions.

“So far, I hope I’ve demonstrated that both citizens and governments see the benefits of cryptocurrencies and share a mutual belief in them.

“I believe it is crucial for all stakeholders to view each player as a key teammate in forging a path toward a healthy crypto space in Nigeria. ”

He noted that cryptocurrencies could be the biggest disruptor in finance and governance the world has ever witnessed. However, the government needs to regulate the industry.

Regulations of the industry don’t mean “a giant hammer slamming down on the activities going on in an industry,” but rather to optimize conditions for growth, tailored towards the industry.

The event also had insightful takes from enthusiasts and innovators in the blockchain industry who addressed lingering questions and myths around the sector.

The first panel discussions involved Uzoma Dozie, CEO of Sparkle; Buchi Okoro, CEO of Quidax; Dickson Nsofor, CEO of Korapay; Austin Okere, CEO of CWG; Nkemdili Uwaje, CEO of Future Software; and Chimezie Chuta, Founder of the Blockchain Nigeria User Group.

The session was focused on untying the regulatory knots in the space, and a key idea that was mentioned by all speakers was the pace at which cryptocurrency is changing the financial system.

A panelist, Uzoma Dozie, spoke about the difficulties of scaling crypto because it is currently one of the fastest payment systems in the world.

He reiterated that the Nigerian CBDC, enaira, is not going to compete with card payments. It will only be one of the many available payment systems.

Buchi Okoro, CEO of Quidax, elaborated that the central bank’s development of eNaira is a step towards meeting stakeholders halfway and will encourage digital liquidity.

He explained that in the same way that WhatsApp can’t replace hugs and physical interactions, cryptos can’t replace fiat cash. Both currencies can only collaborate to bring better lives to the people.

Patricia’s CEO, Hanu Fejiro Agbodje, giving the keynote speech on Blockchain for Africa: The endless possibilities illustrate how Michael Faraday did not envisage that one day, Elon Musk would use his creation, electricity, to power his electric vehicles.

According to him, the world is still in its very early days of blockchain technology. It is one that people will constantly try to understand and use in various ways into the unknown future.

“We have been succeeding in this industry with zero support. Imagine if we got support from the government. He concluded by saying, “We can win and we will win as long as we continue to strive,”

The second panel comprised experts like Emmanuel Babalola, Africa Director at Binance and Interim CEO of Bundle; Modibe Matsepena, Senior Associate of Growth in Africa at Paxful; Founder of Aza Pay, Jacqueline Madu, and Bitmama CEO, Ruth Iselema.

Owing to the popular belief that crypto transactions are not traceable, users wanted to know the veracity behind that claim.

Buchi Okoro replied that Bitcoin is not anonymous. Bitcoin is pseudonymous.

“When you track patterns on ether scan and blockchain explorer, you can actually see every transaction that’s happened on the blockchain up until the very first production of that bitcoin,” he says.

Further highlights from the event were the brand moments, where institutions in the crypto scene gave insights into their various innovative products aimed at making the Nigerian blockchain industry a success.

Most of the conversations from the event centred around regulations and what the future holds for the crypto space in Nigeria.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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New Investment Fund Targets Acceleration of Emerging Technology in Nigeria

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The International Rescue Committee (IRC) has announced the formation of Airbel Ventures, a new humanitarian impact investing fund aimed at accelerating the introduction and scaling of breakthrough technologies in crisis-affected communities.

The fund will invest in companies whose ideas have the potential to change humanitarian response, including digital infrastructure for frontline health systems and climate-resilient agriculture.

The launch of Airbel Ventures follows a period of rapid innovation at the IRC, despite the humanitarian sector facing record funding cuts.

In the past year, the IRC’s Airbel Impact Lab has advanced more than twenty Artificial Intelligence (AI) and technology initiatives—from anticipatory action tools powered by climate and vulnerability data, to frontline service delivery using safe, orchestrated AI systems, to breakthrough diagnostic tools for emerging diseases.

Airbel Ventures’ first impact investment is in Signalytic, a company delivering solar-powered computing devices that ensure reliable electricity and connectivity for remote health facilities.

Following the investment, the IRC will pilot Signalytic’s technology with its Nigeria Health team, demonstrating the viability of next-generation digital infrastructure in humanitarian settings.

“We know breakthrough solutions already exist—what’s missing is the path to scale in humanitarian contexts,” said Dr. Jeannie Annan, Senior Vice President for Research & Innovation at the IRC and head of the Airbel Impact Lab.

 


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MTN Nigeria Suffers 9,218 Fibre Cuts in 2025 as Vandalism, Theft Cripple Network

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MTN Nigeria, the country’s largest telecommunications operator, recorded a historic surge in network disruptions in 2025, suffering 9,218 fibre cuts as of December 31, alongside 211 base station sites affected by theft and vandalism, incidents that disrupted mobile and data services relied upon daily by millions of Nigerians.

MTN Nigeria Suffers 9,218 Fibre Cuts in 2025 as Vandalism, Theft Cripple Network

The data was revealed by Dr Karl Toriola, chief executive officer/managing director, MTN Nigeria via a social media post titled ‘MTN Nigeria 2025 Wrapped’.

The scale of the damage highlights the growing vulnerability of Nigeria’s telecommunications infrastructure, which has come under increasing pressure from road construction activities, cable theft and deliberate acts of vandalism.

MTN said 5,478 fibre cuts occurred within just the first seven months of 2025, with 760 incidents recorded in July alone, underscoring the intensity of the challenge.

Some of the incidents had wide-ranging consequences, knocking out connectivity across multiple states simultaneously and affecting voice calls, data services, digital payments and enterprise operations.

The company described the situation as a national infrastructure problem, rather than an isolated corporate issue, given the economy’s deep dependence on mobile networks.

“These gaps were shaped by real operational challenges such as fibre cuts, theft, and vandalism. Their impact is felt directly by customers and reflected in what they tell us,” Toriola,

The disruptions were reflected in customer feedback volumes, as MTN handled an unprecedented number of complaints during the year. The operator said it resolved 1,624,263 customer complaints in 2025, spanning call centres, social media platforms, emails and physical service centres nationwide.

Despite the setbacks, MTN pointed to signs of operational resilience. The company retained its ranking as Nigeria’s best network by Ookla, returned to profitability after a challenging period, declared an interim dividend, and expanded its subscriber base to over 85 million users by September 2025.

The figures show that while Nigeria’s telecom operators continue to invest heavily in network expansion and customer service, infrastructure sabotage remains a major drag on service quality and operating costs.

MTN acknowledged that performance improvements remain a work in progress. “We are not where we want to be yet. We see you. We hear you. We exist because of you. And we will get better,” Toriola said.

As the company enters its 25th year of operations in Nigeria, Toriola said MTN is doubling down on customer-centricity, treating every piece of feedback as a guide for improvement, while also stepping up engagement with government agencies.

The CEO renewed calls for stronger regulatory and legal protections for telecommunications infrastructure, urging policymakers to classify fibre cables, base stations and other critical assets as national infrastructure and criminalise vandalism to deter repeat attacks.


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NCC Licences Six New ISPs to Challenge Telcos, Satellite Giants

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Nigerian Communications Commission (NCC) has granted operating licences to six new Internet Service Providers (ISPs), effective January 1, 2026, raising the total number of authorised ISPs in the country to 231 from 225 recorded in December 2025.

NCC Licences Six New ISPs to Challenge Telcos, Satellite Giants

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The newly licensed firms are Intellvision Technologies Limited, Granet Technologies Limited, Fiber Sonic Limited, Dasol Solution Services Ltd, Boost ISP Limited, and Amazon Kuiper Nigeria Limited.

Five of these companies are headquartered in Lagos, while Granet Technologies Limited operates from Owerri in Imo State, highlighting the persistent concentration of broadband infrastructure in major commercial hubs like Lagos, Abuja, and Port Harcourt.

This development intensifies competition in Nigeria’s broadband market, which faces pressure from dominant mobile network operators such as MTN and Airtel, alongside rapid expansion by satellite providers like Starlink.

Traditional ISPs continue to grapple with shrinking customer bases, aggressive data pricing from telcos, and satellite disruptions, even as NCC data from Q2 2025 showed Spectranet, Starlink, and FibreOne controlling about 65 per cent of the 313,713 active ISP subscribers.

The inclusion of Amazon Kuiper Nigeria Limited marks a significant entry of global satellite broadband competition, building on Nigeria’s recent approvals for other low Earth orbit providers to enhance connectivity in underserved areas.

Industry analysts view the licences as a strategic push to improve internet quality amid rising demand for digital services, though geographic clustering underscores ongoing infrastructure challenges outside urban centres.

NCC’s move aligns with broader efforts to foster a competitive telecoms sector critical to Nigeria’s digital economy ambitions.


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