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Usoro Calls for Collaborative Effort to Achieve 95% Target for Financial Inclusion by 2024

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Usoro Usoro, general manager, Mobile Financial Services, MTN Nigeria, has said that in order for the country to meet the 95% target for financial inclusion by 2024 set by the Central Bank of Nigeria, it needs to accelerate the current growth rate in the industry.

Usoro disclosed this during an interactive virtual session by The Economist Intelligence Unit based on a report titled “State of Play: Fintech in Nigeria” sponsored by MTN Nigeria and Mastercard.

The webinar hosted by Camelia Oros, managing director, CT Productions featured presentations by Irene Mia, Global Editorial Director, Thought Leadership and Melanie Noronha, Senior Editor, Thought Leadership, EMEA both of The Economist Intelligence Unit.

The webinar also featured presentations by Usoro Usoro, General Manager, Mobile Financial Services, MTN Nigeria and Ebehijie Momoh, Senior Vice President, General Manager, West Africa, Mastercard.

The session reviewed topics tackled in the Nigerian Fintech report while assessing both industry drivers and impediments to further growth.

Addressing participants at the session, Usoro Usoro remarked, “Fintech and financial inclusion is an important area for MTN Nigeria.

“We always see ourselves as a company that drives economic growth and development everywhere we operate.

“Working with The Economist team and similar stakeholders to produce reports such as this stimulate debate and conversation around the challenges in the sector and how we can work together as an industry to drive our desired objectives”.

He further explained that “The CBN’s National Financial Inclusion Strategy which was revised in 2019 has set a financial inclusion target to 95% by 2024.

“It is barely five years from now and we need a collaborative approach by stakeholders in the industry to ensure that all players can leverage their various assets to meet that target.

“Relatively, Nigeria has more sophisticated products than many other countries on the continent. The challenge is in accessibility and how these products will not only improve convenience for the already banked but further drive inclusion while addressing how we can bring these last batch of 40 million customers that are traditionally excluded into the fold

“Overall, I think we are in the right direction, and studies such as this serve the purpose of stimulating conversation that will provide solutions to the challenges we face as an industry”.

Plans to launch the report to a wide selection of stakeholders in the Nigerian Fintech industry were underway but had to be postponed due to the restrictions posed by the COVID-19 pandemic. The Economist Intelligence Unit confirmed that details of the physical event will be shared at a later date.

 

 


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MTN Nigeria Wins Award for Best Use of Data @MarkHack 4.0 Awards Night

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L-R: Akinbulejo Onabolu, Head, Enterprise Segment, MTN Nigeria; Eneyi Obi, Global Chief Marketing Officer, Rise; Tobi Olanisimi, Marketing Manager, AB InBev; Martha Kayode, Marketing Head, PZ Cussonz; Sulaiman Shaibu, CEO, BFT Consulting Service and Daniel Adeyemi, Managing Editor, Condia Business at the MarkHack 4.0 Conference held at the Landmark Event Centre, Victoria Island, Lagos on Friday, May 23, 2025.
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MTN Nigeria’s commitment to digital innovation took center stage at MarkHack 4.0, the annual marketing and technology conference held at Landmark Event Centre, Victoria Island, Lagos, on Friday, May 23, 2025, with the theme ‘Experience Ignited: Fueling the Customer’s Journey’.

L-R: Akinbulejo Onabolu, Head, Enterprise Segment, MTN Nigeria; Eneyi Obi, Global Chief Marketing Officer, Rise; Tobi Olanisimi, Marketing Manager, AB InBev; Martha Kayode, Marketing Head, PZ Cussonz; Sulaiman Shaibu, CEO, BFT Consulting Service and Daniel Adeyemi, Managing Editor, Condia Business at the MarkHack 4.0 Conference held at the Landmark Event Centre, Victoria Island, Lagos on Friday, May 23, 2025.

In a celebration of innovation, technology, and storytelling, the company also took home the award for Best Use of Data in a Marketing Campaign at the Nigeria MarTech (MarkHack 4.0) Awards Night. This award recognizes brands that have successfully transformed data into compelling narratives and actionable insights to meaningfully engage their audiences.

Akinbulejo Onabolu, Senior Manager, Segment Management, Enterprise Business at MTN, joined a panel to discuss the power of immersive technologies on consumer behaviour. Drawing from MTN’s launch of its 5G Digital Experience Centre in Abuja last year, Onabolu highlighted the rapid evolution of immersive technologies such as Virtual Reality (VR) and Augmented Reality (AR) stating “Our 5G centre is a sandbox for our customers to come and see how technology can shape things. At the launch event, we unveiled a smart city to customers, clients and dignitaries in attendance, with gaming and other tech experiences.”

On the intersection of data, AR and VR, he added: “Co-creating with MTN takes our minds to a platform where different partners, companies and creators can bring their buildings, products and businesses for people to see via augmented reality and connectivity, just swiping through and following through that journey.

“As a part of impacting our customer’s lives, a few years ago, we also played around with the Metaverse and we ended up creating some of our back-office processes with some of our customer journeys on augmented reality and virtual reality such that a customer somewhere can engage with a virtual agent to solve real life problems and integrating that back into our operating systems. As an organization, at a lot of our events, you will find a lot of AR and VR experiences.”

Speaking on how MTN is embedding immersive technology into its day-to-day operations, he explained that the company is prioritizing both internal capability development and external engagement. “85% of our organization has undergone extensive training on AI and that already is a great addition to our daily lives. We’re using it to do things differently, developing user journeys and brainstorming different things. In terms of Augmented Reality and Virtual Reality, we are working with organizations to develop training programs which we use internally.”

He described the bases for this tech as stable connectivity, high bandwidth, high speed and low latency. “Over the past year, we’ve doubled our 5G capacity across the entire country. Wherever you are, you’ll probably start to pick up 5G. With our FibreX service, we’re going way beyond connectivity to create the systems and platforms to support the ecosystem, AR and VR. In addition to this, we’re also engaging regulatory systems to start to tease this out and build the proper governance.”

The session, moderated by Daniel Adeyemi, Managing Editor at Condia Business, also featured insights from leaders in FMCG, consulting, and global marketing, all underscoring the transformative potential of immersive technologies for Africa’s future.


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MTN Nigeria Invests ₦900Bn in 2025 to Boost Network Quality in Lagos & Abuja

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MTN Nigeria has announced a massive capital expenditure (CAPEX) drive for 2025, nearly doubling its investment to almost 900 billion Naira, as it seeks to significantly enhance network service quality in major cities like Lagos and Abuja and extend improvements to other areas.

 

Karl Toriola

Karl Toriola

This financial commitment, up from a combined total of approximately 440 billion Naira spent in 2023 and 2024, was detailed by MTN Nigeria CEO, Dr. Karl Toriola, during a recent interview on Arise TV.

Toriola highlighted that a key focus of the increased CAPEX will be on “putting additional capacity in a city like Lagos, particularly in Abuja, where you have a lot of buildings coming up, you need additional sites because there are coverage issues.”

Beyond these critical urban centres, the investment aims to bolster network resilience and ensure power stability for its infrastructure nationwide. This includes proactively addressing site outages by ensuring timely payment for operational necessities such as diesel for generators, a persistent challenge in the Nigerian operating environment

The CEO outlined the comprehensive nature of the upgrade process, which involves “placing orders formally, opening letters of credit, and then the equipment gets shipped in and installed.” He added that where necessary, MTN will be “acquiring new sites” and “laying fiber to the base station to create better stability.”

While the immediate CAPEX is geared towards improving existing service quality and capacity, this investment aligns with MTN’s broader goals, which include enhancing financial inclusion in underserved rural areas, suggesting a long-term vision for network expansion and service improvement that extends beyond metropolitan areas.

Customers are expected to begin experiencing the positive impact of these investments with a “significant improvement in quality of service” anticipated by the end of the second quarter or early in the third quarter of 2025, according to Toriola.


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Airtel’s AI Spam Alert Flags 9.6m Spam Attempts

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Airtel Nigeria, telecom service provider, has announced that its AI-powered Spam Alert Service issued over 9.6 million spam alerts between March 13 and May 20, 2025.

Airtel’s AI Spam Alert Flags 9.6m Spam Attempts

As part of its ongoing commitment to protecting customers from unwanted and potentially fraudulent communications, Airtel designed the AI Spam Alert service to analyze traffic patterns and detect anomalies.

In the period since launch the AI pinpointed a total of 9,667,008 SMS as potential spam messages in the two months after its launch.

Of these, the system identified 528,080 on-net (Airtel-to-Airtel) and 9,138,928 off-net (from other networks) numbers as suspected spam messages, demonstrating the scale of the threat and Airtel’s advanced processing capability.

Airtel Nigeria is a subsidiary of Airtel Africa.

Commenting on this development, Dinesh Balsingh, CEO, Airtel Nigeria, restated Airtel`s commitment to protecting its customers.

“This milestone demonstrates the strength of our AI-driven infrastructure in combating the growing menace of spam and scam calls. At Airtel Nigeria, we are focused on connecting Nigerians and ensuring their safety and confidence while using our network.

“We understand that trust is the cornerstone of digital communication. That’s why we’ve invested heavily in intelligent systems that not only detect potential threats but also learn and evolve with data. As threats become more sophisticated, so will our solutions. As a company, we remain focused on leading the industry in innovation and customer satisfaction, ensuring that every Nigerian can enjoy a safer and smarter digital experience,” Mr. Balsingh said.

The Spam Alert Service is part of Airtel Nigeria’s broader strategy to integrate artificial intelligence into its core offerings to deliver smarter and safer experiences for its customers across the country.

Recall that the Spam Alert Service was launched on March 13, 2025. A groundbreaking and free solution from Airtel, it notifies users in real-time of suspected spam SMS messages by analyzing over 250 parameters.

The Airtel AI Spam Alert Service is available to all Airtel subscribers on smartphones and feature phones.

 

 


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