Telecom
Transactions with ATM Hit 65m in May
Automated Teller Machine (ATM) transactions hit an all time high in May, when dealings through the money dispensing machine reached 65 million, Nigeria CommunicationsWeek investigation has shown.
This is despite the challenges of system failure and fears created by fraudsters in the e-payment system
It also underscored Nigeria’s rapid progress towards becoming a cashless society and the dwindling fortunes of the over the counter cash payments.
The 65 million transactions for the month of May were achieved on the switching platforms of Interswitch and ValuCard acquirer of V-pay debit card.
The growth in non-cash payment has been seriously supported by the advancement in Information and Communication Technology (ICT) in Nigeria and elsewhere in the world.
Nigeria CommunicationsWeek also gathered that Interswitch recorded a little above 61 million while ValuCard pulled over 4 million.
This accounts for over 100 per cent of the figure of 33.3million recorded in October last year when Interswitch, the major debit card switching company released the record.
ValuCard which re-launched its operations in the e-payment system in the country with V-pay debit card last year recorded a volume of less than one million has increased to an estimated four million as most banks have join to ValuCard switch.
It was also revealed that banks on ValuCard switching platform have issued over 2 million V-pay cards.
Ngeria CommunicationsWeek investigations also revealed that none of the 24 banks in the country that have deployed over four thousand ATM has met the required standard for optimal functioning of ATMs which has resulted in increased downtime cardholders experience while attempting to withdraw money from ATM.
The entire bank deployed ATMs that require two connectivity links has only one connectivity link which has resulted in high downtime rate. They have blamed this to high cost associated with providing redundant link.
It would be recalled that e-payment system in the country is facing technology challenge as greater per cent of debit card issued in the country are on magnetic stripe against EMV chip.
It was gathered that all ATMs deployed in the country are EMV compliant and that it requires upgrade for them to accept EMV chip cards.
Mr. Bukar Kyari, managing director, ValuCard Nigeria, said that EMV chip card is the global accepted technology all over the world because of its robust feature in security of cardholders’ information stored in it.
He urged operators in the card industry to upgrade their system to EMV compliant as a security proof against the rising cases of fraudsters soliciting for cardholders debit card pin numbers.
Telecom
Celebrating African Creativity: Made by Africa, Loved by the World’ Returns for Its Fifth Year
The “Made by Africa, Loved by the World” campaign is back for its fifth year, celebrating African creativity and global influence. This year’s theme, “Where Culture Meets Connection,” highlights how social media fosters conversations around cultural moments worldwide.
The campaign features three cinematic films premiering on the Meta Africa page, showcasing the groundbreaking work and personal stories of six dynamic African creatives.
These artists, from Nigeria, Kenya, Ghana, and South Africa, represent diverse disciplines, including rap, animation, dance, photography, fashion, and videography.
Here are some of the featured talents:
- Ladipoe (Nigeria) – A BET-nominated rapper known for blending global hip-hop with African rhythms.
- Fatboy Animations (Kenya) – An animation studio founded by Michael Muthiga, recognized by Forbes for its original African storytelling.
- Lisa Quama (Ghana) – A dancer who gained fame after appearing in Beyoncé’s “Already” music video.
- Gilbert Asante (Ghana) – A photographer and creative director featured in GQ and Glam Africa.
- David Tlale (South Africa) – A fashion designer whose bold designs have been showcased at major fashion events, including the Met Gala.
- Ofentse Mwase (South Africa) – A filmmaker with over 24 international awards for his unique visual storytelling.
Kezia Anim-Addo, Communications Director for Africa, Middle East & Turkey, emphasized that the campaign not only celebrates individual success stories but also showcases how culture and social media drive meaningful connections and inspiration.
Association of Telecommunications Companies of Nigeria (ATCON), has raised the alarm over a diesel supply crisis caused by an ongoing strike by the National Union of Petroleum and Natural Gas Workers (NUPENG).
Mr Tony Emoekpere, president, ATCON in a statement said that the fuel supply disruption is critically affecting telecom base stations, pushing them to the brink of a shutdown and threatening millions of mobile and internet users in the region.
“This strike, which stems from the persistent harassment of tanker and petroleum product drivers by police officers in Lagos State, has effectively halted all truck loading operations and fuel movements,” Emoekpere stated.
He explained that diesel supply to telecom infrastructure has been severely impacted, leaving critical sites with dangerously low fuel levels.
According to him, if urgent measures are not taken, the situation could escalate into a full-blown network blackout, disrupting essential services, including mobile and internet access, business operations, emergency response systems, and daily communications.
ATCON has called on the governors of Lagos and Ogun states to intervene immediately by facilitating the release of diesel from depots to telecom operators to prevent further deterioration of the situation.
“This is not just a telecom issue—it is a national emergency that could cripple economic activities and compromise public safety,” Emoekpere stressed.
The association also appealed to security agencies and petroleum unions to resolve the crisis swiftly to safeguard Nigeria’s connectivity and economic stability.
ATCON emphasised that a prolonged disruption in fuel supply to telecom infrastructure could have far-reaching consequences for both businesses and individuals who rely on stable communication networks for daily operations.
In 2023, Nigerians spent a total of about ₦5.3 trillion on telecommunications services, which includes calls, data, SMS, and other telecom services, according to the Leadership.
Specifically for voice calls, Nigerians made approximately 408.5 billion minutes of local calls, generating around ₦3.28 trillion from outgoing calls and ₦3.23 trillion from incoming calls, totaling about ₦6.51 trillion in call-related revenue according to projections based on 2023 call volumes and tariff data.
However, the ₦5.3 trillion figure represents the overall telecom sector revenue, with voice calls being a major component but also including data and other services.
For individual spending, MTN subscribers spent an average of ₦2,508 monthly on voice calls in 2023, showing a 14.4% increase from 2022, while Airtel customers spent about ₦1,694 monthly on voice calls.
Total telecom spending (calls, data, SMS, etc.): ₦5.3 trillion in 2023
Estimated revenue from voice calls alone: around ₦6.5 trillion based on call minutes and tariffs
Average monthly spending on calls per subscriber: ₦1,694 to ₦2,508 depending on the network
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