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VFD and Autochek partner to enable more affordable car financing in Nigeria

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L-R: Gbenga Omolokun, MD, VFD Microfinance Bank (V Bank); Winifred Allison, Executive Director, Product and Marketing, VFD MFB; Mayokun Fadeyibi, Chief Operations Officer, and Philip Ayere, Senior Credit Manager, both of Autocheck Marketplace, at the press conference to announce the partnership between V Bank and Autocheck, in Lagos, yesterday.
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VFD Microfinance Bank, manager of V Bank, Nigeria’s leading digital banking platform, and Autochek, the automotive technology company making car ownership more accessible and affordable across Africa, have joined forces to make it easier for businesses and consumers in Nigeria to access affordable financing for the vehicles they desire.

L-R: Gbenga Omolokun, MD, VFD Microfinance Bank (V Bank); Winifred Allison, Executive Director, Product and Marketing, VFD MFB; Mayokun Fadeyibi, Chief Operations Officer, and Philip Ayere, Senior Credit Manager, both of Autocheck Marketplace, at the press conference to announce the partnership between V Bank and Autocheck, in Lagos, yesterday.

Cars are central to how Nigerians live and work. However, recent economic headwinds have pushed many businesses and individuals to prioritise affordability when considering the cars they would like to purchase. From the ongoing situation with access to foreign exchange and inflation to subsidy removal and other headwinds, these developments have impacted the cost of owning and maintaining vehicles in Nigeria and more Nigerians are exploring new ways to manage the situation more efficiently. Financing presents a viable option for making car ownership more accessible and affordable, for alleviating various transportation challenges and impacting the whole value chain including dealers, workshops, SMEs, and ultimately the consumer.

V Bank is committed to helping its customers achieve their desires and create wealth, and it is on a mission to become the number one provider of microfinance solutions for businesses and individuals in Nigeria. With this partnership, businesses and individuals will now be able to access the bank’s market-leading financing options when they apply for financing for their chosen vehicles. They simply need to find the vehicles they want to purchase on Autochek’s online marketplace or via a dealer in the company’s extensive network, submit an application for financing and they will be able to choose the V Bank option once their application has been approved. With a 30 percent equity contribution to the value of the new car and affordable monthly repayments, customers will also be able to access insurance, registration, maintenance, and other value-added services from accredited Autochek partners.

Similarly, Autochek has built the infrastructure to drive the penetration of auto financing across Africa, powered by a data analytics engine that makes it easier to offer credit for automotive purchases. Customers can get instant financing offers once the necessity criteria have been met. With operations in 9 countries across East, South, West, and North Africa, more than 70 banking partners, and a partner-led footprint of more than 2,000 dealers and workshop locations, the company has unrivaled access to insights on vehicle-related transactions that positions it to develop effective solutions for the continent’s automotive ecosystem.

Commenting on the partnership Mayokun Fadeyibi, COO at Autochek Marketplace, said “Vbank’s commitment to providing affordable financing aligns perfectly with our mission to drive the penetration of car financing across the continent, and we are excited to deepen our relationship with this collaboration. With our combined expertise, I am confident that we will be able to connect more customers to the financing they need to access the vehicles they desire, which should in turn catalyze more growth across the automotive sector and the economy at large.”

Commenting on the partnership between Vbank and Autochek, the MD, Gbenga Omolokun said:

“At Vbank, our mission has always been to empower and uplift our customers and we are guided by the core principles encapsulated within our brand positioning “Enabling you to achieve”. ACHIEVE is an acronym which captures our key focus areas with the letter V symbolizing Vehicle/Mobility.

This partnership with Autochek will bring forth a wave of opportunities for businesses and individuals alike, stimulating economic growth and driving progress across Nigeria. With Vbank’s financing options, a 30 percent equity contribution, and affordable monthly repayments, we aim to not only ease the burden of car ownership but also impact the entire value chain, benefiting dealers, workshops, SMEs, and, most importantly, the consumers we serve.”

 


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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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Airtel Nigeria Commits to Upgrade of its Network Infrastructure for Improved Quality of Service

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Airtel Nigeria has unveiled a robust update on a range of network, infrastructure and technology advancements that position the company at the forefront of quality of service leadership in Nigeria’s telecommunications industry.

Announced at its first media roundtable of 2026, the updates reflect sustained investments made over the past 12 to 24 months and signal an accelerated push to stay ahead of surging data demand in a rapidly digitising economy.

Speaking to senior editors and industry correspondents, Airtel Nigeria Chief Executive Officer, Dinesh Balsingh, said the company’s strategy is anchored on deliberate scale, depth and resilience.

“Over the last two years, we have invested with discipline and clarity to strengthen our network nationwide. Those investments are now translating into measurable improvements in performance, customer experience and reach, including in underserved and hard to reach communities,” he said. “In 2026, we are accelerating these upgrades because Nigeria’s data appetite is growing, and leadership in this industry will belong to those who plan ahead.”

At the core of Airtel Nigeria’s quality of service drive is the rapid expansion of its network footprint. Since December 2023, the company has increased the number of network sites by 15.5%, adding 2,242 new sites and bringing its total to nearly 16,711 nationwide. Further deployments are planned in 2026 to strengthen coverage, capacity and resilience across urban and rural locations.

Network capacity upgrades have also reached significant scale. In 2025, Airtel completed capacity enhancements on 30% of its sites, covering over 5032 sites nationwide.

Today, 99% of Airtel Nigeria’s sites deliver high-speed 4G mobile broadband, establishing the operator as a full nationwide 4G network. This year, capacity upgrades are being extended to more sites to sustain performance as data usage continues to rise.

According to Harmanpreet Singh Dhillon, Chief Technology Officer, spectrum depth and optimisation remain critical to network quality. “We have increased our 4G spectrum by 10MHz and we are actively optimising our holdings. These actions allow us to support higher data throughput, better speeds and more consistent service, especially in high-traffic areas,” he said.

Airtel Nigeria is also accelerating its 5G rollout. Over the last three months, the company has more than doubled the number of active 5G sites. The accelerated 5G upgrade happening now will connect the top 20 Nigerian cities to high-speed 5G networks, with a significant part of Airtel’s network in these cities becoming 5G-enabled in the coming year.

Beyond terrestrial infrastructure, Airtel is extending connectivity through space-based solutions. The company has established and signed partnerships with satellite providers OneWeb and Starlink, enabling enterprise-grade connectivity for businesses in remote locations, hard to reach areas and operational outposts. Recently, Airtel announced Nigeria’s first Direct-to-Cell partnership with Starlink, a breakthrough that will allow customers to remain connected while travelling through deep remote areas and enable small rural communities to access Airtel’s digital and fintech services.

The backbone supporting these services continues to expand. Airtel Nigeria has built an extensive fibre footprint across almost all states, developed through years of sustained deployment. Following the announcement to double capital expenditure last year, the company committed to expanding its fibre network by 25%, and intensive rollout activity is ongoing across cities and states. Airtel has also confirmed plans to extend its fibre footprint even further, both within major cities and between states.

A pivotal national milestone is also on the horizon. Nigeria currently relies on a single internet submarine cable landing and breakout point in Lagos. Airtel Nigeria has announced that it will launch a second internet breakout from the South of Nigeria, leveraging the 2Africa submarine cable. In partnership with 2Africa, Airtel will shortly begin carrying internet breakout traffic from Kwa Ibo in Akwa Ibom State.

“This will create a faster and alternative path for large parts of the North and South, improve resilience for the entire ecosystem. Airtel is proud to take the lead in making this happen,” Balsingh said.

Underpinning these advances is a robust IT and cloud backbone. Airtel Nigeria operates an enterprise-grade private cloud with thousands of virtual machines, managing massive storage and compute power across locations.

The infrastructure includes large GPU clusters, supporting AI-driven applications such as fraud detection, intelligent network self-healing and advanced customer analytics.

The company recently announced the upcoming launch of its hyperscaler-ready 38 megawatt data centre in Eko Atlantic. This is designed for Nigeria’s next phase of digital growth, powered by AI.

From a customer access perspective, Airtel Nigeria maintains one of the largest retail footprints in the country. Its products and services are available in over 200,000 outlets nationwide, supported by more than 4,000 exclusive shops across all local government areas and 250 flagship stores.

Balsing added that, “Quality of service today is about resilience, redundancy and intelligence, and that is what Airtel is delivering. From fibre to cloud to satellite-enabled connectivity, we are building a platform that allows Nigerian businesses to scale with confidence, regardless of location.”

He reaffirmed Airtel Nigeria’s long-term commitment to the country. “Our focus is consistent investment, disciplined execution and deep confidence in Nigeria’s future,” he said.

Aside from Singh Dhillon, other members of the Airtel Nigeria leadership on hand with subject matter expertise at the roundtable included Director, Airtel Business, Ogo Ofomata; Director, Marketing, Ismail Adeshina; Director, Information Technology, Kemi Ariyo; and Director, Corporate Communications and CSR, Femi Adeniran.


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MTN Guns for $2.76bn IHS Towers Buyout in African Telecom Power Grab

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MTN Group, the continent’s telecom behemoth, has plunged into advanced negotiations to acquire the outstanding 75 percent stake in IHS Towers for a staggering $2.76 billion, a seismic move that would hand Africa’s largest mobile operator full reins over one of the world’s premier independent tower companies and redefine infrastructure control across emerging markets.

MTN Guns for $2.76bn IHS Towers Buyout in African Telecom Power Grab

MTN

The proposed transaction, pegged to IHS’s latest New York Stock Exchange closing price where it trades alongside a Frankfurt listing, builds on MTN’s existing 25 percent holding forged in a landmark 2014 deal that saw the operator offload most tower assets to IHS in exchange for cash and long-term leases.

Sources close to the talks confirm discussions remain fluid with no binding agreement yet inked, and both sides caution that negotiations could shift or stall entirely—MTN has signalled readiness to pivot to alternative value-unlocking strategies for its stake if a full buyout eludes grasp.

Strategically, the power play catapults MTN toward vertical integration in a sector where operators increasingly crave direct grip on passive infrastructure to slash lease bills, streamline upgrades, and rocket-roll 4G/5G amid Africa’s insatiable data deluge.

IHS Towers, MTN’s anchor tenant across swathes of Africa with tens of thousands of masts from Nigeria’s 13,500 tenancies—renewed amid naira-dollar tussles—to South Africa and beyond the Middle East into Latin America, represents a golden infrastructure war chest primed for the operator’s 20-nation blitz.

The saga traces to 2014’s seismic sale that freed MTN capital for spectrum wars while birthing enduring lease pacts, now ripe for reversal as governance dust-ups over shareholder nominations and agendas underscore the buyout’s boardroom chess.

Market tremors rippled through IHS shares post-leak, underscoring the $2.76 billion tag’s gravity as MTN eyes cost efficiencies, network agility, and expansion muscle in oil-volatile economies where tower mastery spells survival.

Should the ink dry, MTN vaults to ownership of a colossus fuelling digital bridges from Lagos megacities to rural frontiers, slashing third-party dependence while supercharging investments in fibre-deep data dreams and 5G horizons.

Analysts buzz that the mega-deal heralds telecom consolidation waves, with operators reclaiming tower turf to fortify against rivals and unlock synergies in a landscape where infrastructure crowns kings.

Neither MTN nor IHS commented officially by press time, but the high-stakes huddle spotlights Africa’s telecom arena hurtling toward an era where owning the poles decides who dominates the digital skies.


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NCC, NSCDC Warn Construction Firms Against Damaging Fibre Optic Cables

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Nigerian Communications Commission (NCC) and the Nigeria Security and Civil Defence Corps (NSCDC) have issued a forceful warning to road construction companies, government contractors and civil engineering firms across the country, declaring that the era of unchecked fibre-optic cable damage during excavation works is over, with perpetrators now facing criminal prosecution.

NCC, NSCDC Warn Construction Firms Against Damaging Fibre Optic Cables

NCC, NSCDC

The two agencies, in a joint statement, highlighted the alarming surge in avoidable fibre cuts caused by negligence, poor planning or outright disregard for infrastructure protection protocols, stressing that such incidents severely disrupt Nigeria’s digital backbone and will attract the full weight of the law moving forward.

They described fibre optic cables as indispensable national assets that fuel the nation’s burgeoning digital economy, ensuring uninterrupted communication services, powering emergency response systems, linking businesses for commerce and trade, and enabling seamless government operations at all levels.

Any destruction of these cables, whether through careless excavation, lack of coordination with telecom operators or deliberate sabotage, directly endangers national security, undermines economic stability and compromises public safety, the organisations warned, painting a grim picture of the cascading effects of even brief network outages on hospitals, financial institutions and security agencies nationwide.

Under the Designation and Protection of Critical National Information Infrastructure (CNII) Order 2024, telecommunication fibre infrastructure has been officially classified as Critical National Information Infrastructure, making any damage from unauthorised digging, construction activities or failure to collaborate with relevant authorities a clear-cut criminal offence punishable under existing statutes.

Individuals, private construction companies and even government contractors found culpable will face immediate prosecution and stiff sanctions as stipulated in the Cybercrimes (Prohibition, Prevention, etc.) Act 2015, with the agencies vowing zero tolerance for what they termed economic sabotage disguised as construction mishaps.

“Future damage to fibre optic infrastructure caused by excavation, road construction or any civil engineering activity conducted without due consultation or collaboration with network operators and relevant regulators will attract strict legal consequences,” the NCC and NSCDC declared categorically, underscoring their resolve to safeguard this vital ecosystem through heightened enforcement.

To forestall further incidents, the agencies implored federal, state and local government bodies, road construction firms, utility service providers and private property developers to adopt proactive measures including thorough pre-construction verification of underground fibre routes using approved mapping tools, early collaboration with the NCC, telecom operators and NSCDC both before and during project execution, strict adherence to national guidelines on excavation procedures and right-of-way management, and prompt reporting of any accidental damage to facilitate swift repairs and minimise downtime.

They emphasised that these steps represent the bare minimum for compliance in an era where digital connectivity is non-negotiable for Nigeria’s progress.

Members of the public have also been enlisted in this protection drive, with calls to report suspected sabotage, vandalism or unintended damage to fibre optic installations at the nearest NSCDC office, via email to [email protected] or [email protected], or by dialling the toll-free line 622 for immediate action.

This collaborative approach, the agencies believe, will not only deter would-be offenders but also foster a culture of accountability among all stakeholders handling earth-moving equipment or infrastructure projects in a country racing towards full digital transformation.


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