Technology
BitMinutes Boosts Nigerian Economy with Blockchain Tech
By Modupe Gbadeyanka
Founder/CEO of BitMinutes Incorporated, Mr Tom Meredith, has expressed satisfaction with the impressive growth his company is recording in Nigeria few weeks after entering into the Africa’s largest market.
BitMinutes is a financial services technology company (FinTech) that leverages blockchain and tokenization for delivering its financial services to consumers.
Expanding into Africa through a strategic partnership with Nigeria-based BODC Trading & Investment Company, the program includes the creation of a Trusted Agent Network (TAN) in which the BitMinutes Nigeria team will lead an effort to identify and oversee TAN Agents, who are often store merchants.
TAN agents sell BitMinutes (BMTs), which can be converted to mobile phone minutes on a wide range of carriers and used as a store of value for making payments.
The BitMinutes Nigeria program has already trained over 100 agents, who are fielding dozens of new signups each day, and growing.
“We’re ecstatic that Nigeria’s citizens have embraced the BitMinutes Nigeria program,” Mr Meredith said, noting that, “They recognize that the economic incentives, including five percent cash back on purchases of BitMinutes and 12 percent annualized return on those BitMinutes that remain in their account, are very compelling propositions.”
And there are other benefits associated with BitMinutes, such as the ability to send BMTs to friends and family, which can be converted to mobile phone minutes on their respective carriers; convert BMTs into local currency (Naira) for deposit into bank account; and making purchases for goods and services at TAN retailers.
In both instances, the transactions are free, thanks to the efficiencies of the underlying blockchain technology.
Ravi Narain, the Director of the BitMinutes Nigeria program, believes it is only a matter of time before BitMinutes becomes ubiquitous in Nigeria.
“We’ve been very pleased with the interest of Nigerians, both in becoming trusted agents and BitMinutes account holders,” said Narain. “We are well on our way to making a real difference in our economy and the lives of our people.”
The economic constraints of so many communities in Africa have been on Meredith’s mind for years and were a driver in the creation of the BitMinutes technology.
But the technology has only been one piece of the equation. BitMinutes needed a business model to deliver on that promise, which is where the TAN comes in.
In fact, Inc. Magazine wrote last spring about how BitMinutes’ model could be a boost for small businesses that participate in the Trusted Agent Network.
Nigeria will serve as a proof point for BitMinutes, before the company advances the business model across the continent and in other developing nations throughout the world.
“This has been a long time coming,” said Meredith, who has an engineering degree from Stanford and an MBA from Harvard. “Blockchain-based financial services can bring a lot of good to the world. We are determined to show that in Nigeria.”
By Modupe Gbadeyanka
The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Mr Aminu Maida, has reemphasised the need to protect the nation’s telecommunications infrastructure, especially fibre networks, noting that damage to fibre networks carries significant economic consequences.
Speaking virtually at the Association of Telecommunications Companies of Nigeria (ATCON) Critical Conversation Forum on Fibre-to-the-Home (FTTH) in Lagos recently, he described FTTH as a critical enabler of Nigeria’s digital future.
“FTTH is uniquely positioned to meet Nigerians' next phase of data demand. The quality of our broadband will increasingly shape the competitiveness of our businesses, the growth of our digital industry and the opportunities available to our citizens,” the NCC chief stated.
“We must uphold deployment standards. Nigeria needs fibre that is properly installed, properly documented, and properly protected,” Mr Maida further said at the event themed Fibre to the Home in Nigeria: Addressing Challenges, Strengthening Standards and Ensuring Sustainable Deployment.
During a panel discussion titled Policy, Governance and Regulatory Alignment, the Deputy Director of Strategic Business Initiatives at ipNX, Mr Segun Okuneye, highlighted the need for stronger collaboration across the telecommunications ecosystem to unlock the full potential of fibre broadband in Nigeria.
According to him, sustainable fibre deployment extends beyond technology and investment to include policy consistency, stakeholder alignment, infrastructure protection, and shared responsibility.
“Achieving universal fibre connectivity requires more than deploying infrastructure; it requires sustained collaboration between operators, regulators, government agencies and host communities.
“When policies are aligned, deployment standards are consistently enforced, and critical infrastructure is protected, we create an environment where investment thrives and more Nigerians can enjoy reliable, high-speed broadband.
“At ipNX, we remain committed to working with all stakeholders to build resilient digital infrastructure that will support Nigeria’s economic growth for generations to come.”
Earlier in his welcome address, ATCON President, Mr Tony Emoekpere, underscored the strategic importance of FTTH in achieving the country’s broadband penetration targets while calling for greater public awareness around protecting communications infrastructure.
“This forum is critical because Fibre-to-the-Home is the technology that will enable the country to achieve full broadband penetration. We all depend on communication infrastructure, and it must be protected,” he declared.
Drawing a comparison with power infrastructure in the country, he added, “If somebody comes to your neighbourhood to tamper with your transformer or power cables, everybody will come out. The same thing needs to apply for communications infrastructure. When we see people damaging fibre cables, we should raise an alarm.”
By Modupe Gbadeyanka
Thursday, July 23, 2026, provided an opportunity for financial services professionals to converge on Landmark Event Centre, Lagos, to brainstorm on ways to meet the rising customers’ expectations.
The platform used for this purpose was Core by Interswitch. It is part of the company’s broader commitment to strengthening Africa’s digital payments ecosystem by fostering collaboration, knowledge sharing and operational excellence across the financial services value chain.
At the event, participants, numbering over 400, also highlighted the growing importance of operational excellence in sustaining resilient payment infrastructure.
As digital financial services continue to expand across Africa, closer collaboration among financial institutions, fintechs and payment service providers will be essential to improving responsiveness, resolving operational challenges more effectively and delivering consistently reliable customer experiences.
The Executive Vice President for Operations and Technology at Interswitch, Mr Babafemi Ogungbamila, said the forum reflects the company’s belief that exceptional customer experiences are built not only on innovative technology but also on the expertise, collaboration and commitment of the professionals who keep payment systems running every day.
“Every successful digital transaction is powered by professionals whose work often goes unseen but is fundamental to building trust in digital payments. Core by Interswitch was created to recognise their contribution, strengthen collaboration across the industry and create opportunities for shared learning that ultimately benefit financial institutions and the customers they serve.
“As digital payments continue to evolve, investing in the people and processes that power the technology is just as important as investing in the technology itself,” Mr Ogungbamila said.
Beyond recognising the professionals whose work often goes unnoticed, the programme underscored the value of creating stronger connections across the payments ecosystem.
By creating a dedicated platform for knowledge sharing, collaboration and professional development, Core by Interswitch aims to build a more connected community of payments operations professionals equipped to respond to the evolving demands of the digital economy.
By Aduragbemi Omiyale
WhatsApp has been updated with a web calling feature, allowing users to now make and receive audio and video calls, both one-on-one and group, directly from WhatsApp Web.
A notice from the Meta-owned messaging platform disclosed that this feature works without the need to download any app.
It was disclosed that this update was made to WhatsApp to make it easier for users to make calls wherever they are and on whatever device, phone or laptop.
Users will have access to features available on their other devices, including screen sharing, reactions, and a dedicated Calls tab with full call history and favourites, all from their browsers.
WhatsApp noted that calls from this feature are end-to-end encrypted, with no time limits and at no cost, as it is the same private experience they expect from the platform.
WhatsApp has also been embedded with easy call transfer, enabling the movement of an active group call from one device to another without hanging up. Users can seamlessly transfer calls to WhatsApp Web or Desktop when they arrive home to collaborate on a larger screen – or vice versa.
The platform further said it now has QuickHD, which allows for an improved video experience at the beginning of a call. With QuickHD, users can now enjoy high-definition video immediately in the very first few seconds of the call.
In addition, it has launched noise suppression to remove the background noise around callers so their voices come through clearly to the person on the other end, even in loud or busy environments. This can be managed at any time in in-call settings.
WhatsApp said these features are rolling out gradually and will be available to everyone soon, expressing its desire to make WhatsApp calling simpler to use.
