Technology
AfCTFA Will Benefit FinTechs—FG Assures
By Adedapo Adesanya
Financial technology companies (FinTechs) will benefit massively from the African Continental Free Trade Area Agreement (AfCFTA), says Nigeria’s National Action Committee on AfCFTA.
The team, which is in Lagos on a visit to sensitise stakeholders in the media, manufacturing, trade, and financial services sector, said the deal will help all members get preferential market access over non-members.
According to Mr Francis Anatogu, the Senior Special Assistant to the President on Public Sector Matters, the agreement hopes to create a single market for well-produced goods and services on the continent.
He added that the adopted multilateral contract will afford signatory countries access to a combined Gross Domestic Product (GDP) of $3.4 trillion.
“With over 1.27 billion consumers and an aggregate GDP of $3.4 trillion, which AfCFTA is expected to help deliver, we are convinced that this will be a game-changer for the African business community, which Lagos state and Nigeria currently plays a leading role.
“We, therefore, encourage fintechs to take advantage of this initiative,” Mr Anatogu said.
Speaking on the timeline for the delivery of the deal, Mr Anatogu, who doubles as the Secretary of the National Action Committee, explained that it was a gradual process that would be delivered over time.
The AfCFTA agreement requires members to remove tariffs from 90 per cent of goods traded, allowing free access to commodities, goods, and services across the continent and the elimination of tariffs could boost trade in Africa by 15-25 per cent in the medium term.
Answering questions on the likely impact of this on the country’s revenue generation, Mr Anatogu explained that over time, the country would get on its feet as AfcFTA fits into Nigeria’s economic diversification objectives because it provides huge export opportunities on the continent for products manufactured in Nigeria and services rendered by local businesses.
He added that there was the situation of increased variety as imports become easier and cheaper, consumers will gain access to a variety of products that are inexpensive as tough competition will make countries produce more products they are most efficient at.
Lagos Commits to AfCFTA
The Lagos State Government on Tuesday pledged its readiness to AfCFTA after a delegation paid a courtesy visit to the Governor of the state, Mr Babajide Sanwo-Olu at the Lagos House, Alausa, Ikeja.
Mr Sanwo-Olu said, “I assure you that Lagos is not just the commercial or economic nerve centre by mouth, it’s also so that we can take that leadership role in the comity of states and lead effectively. We need to scale up infrastructure, capability to be able to take full advantage of what the entire African economy has to offer our country and state.
“With almost a billion population and a total Gross Domestic Product, GDP that is over 3 trillion I think it’s a ready-made market for us as a nation and in Lagos, in particular, to be able to take advantage.
“It’s no small feat being the largest cosmopolitan in Africa and we do not take it for granted, we know that we can be home to everybody and so we want to build that capacity which can only be possible if we have enough infrastructure and understanding what is expected of us.
“Over the weekend, we inspected the Lekki ports and see the things we are doing at the free trade zones. We looked at the refinery and fertilizer plants and all the opportunities that abound in the zone.
“Lagos indeed is getting ready because of the ports, which create about 20 to 30 per cent of GDP ( for big economies). Lekki port will open up Nigeria to international and African businesses more, both for import and export.
“The Apapa and Tincan Ports can only take 4,000 MTUs as the biggest vessel that can come there but the Lekki port, once completed by last quarter next year, is 18,000 MTU that’s about four times. This means that in both ways we can receive a lot more imputes and take more.
“So, mark to business will be quicker and faster and we see also developing the entire infrastructure that is required to do this business, road, power and extensive community engagement so that they are ready and able to take full advantage of the opportunity.
“We are happy it’s still a 5 to 10 years first phase, and we know that though we don’t have all the t’s crossed and i’s dotted, but in another 12 months, am sure Lagos will be fully ready. “We are also intervening in power, off-grid capacities, buying meters for our people so that we can be ready.
“This is the largest investment in fintech in Africa, we are not just collaborating with the private sector, we are also enabling startups on a yearly basis, we will approve another set for some of our tech startups, granting them funding as seed for them to come up with creative ideas, some of them even get international recognition, so we are getting ready on all platforms.
“We are building another terminal at the airport, thanks to the federal government, and this attracts a sizeable percentage of international travel.
“We are doing a 3000 kilometres metropolitan fibre optics connectivity to grid Lagos. Once we get this right. What is required for telecom companies, small businesses, to rise and use it for security, health services, education and other platforms that can be the future that we see?
“Our vision and programs sit with what AfCFTA is all about and we see your committee as partners. We want our people to think local but act global so they can have the opportunity to send their goods and products to every part of Africa and the world.
“We will work with your team, set up a local action committee where we can have a one-stop-shop for the private sector on information, guidelines, understanding what is expected of them so that this thing can take footing quickly and Nigeria can take its full benefit.
“We want others to enjoy the benefits, but we are not a big nation for nothing. We want to take the full benefits but also to open our markets for others to access.”
Technology
Expert Reveals Top Cyber Threats Organisations Will Encounter in 2026
By Adedapo Adesanya
Organisations in 2026 face a cybersecurity landscape markedly different from previous years, driven by rapid artificial intelligence adoption, entrenched remote work models, and increasingly interconnected digital systems, with experts warning that these shifts have expanded attack surfaces faster than many security teams can effectively monitor.
According to the World Economic Forum’s Global Cybersecurity Outlook 2026, AI-related vulnerabilities now rank among the most urgent concerns, with 87 per cent of cybersecurity professionals worldwide highlighting them as a top risk.
In a note shared with Business Post, Mr Danny Mitchell, Cybersecurity Writer at Heimdal, said artificial intelligence presents a “category shift” in cyber risk.
“Attackers are manipulating the logic systems that increasingly run critical business processes,” he explained, noting that AI models controlling loan decisions or infrastructure have become high-value targets. Machine learning systems can be poisoned with corrupted training data or manipulated through adversarial inputs, often without immediate detection.
Mr Mitchell also warned that AI-powered phishing and fraud are growing more sophisticated. Deepfake technology and advanced language models now produce convincing emails, voice calls and videos that evade traditional detection.
“The sophistication of modern phishing means organisations can no longer rely solely on employee awareness training,” he said, urging multi-channel verification for sensitive transactions.
Supply chain vulnerabilities remain another major threat. Modern software ecosystems rely on numerous vendors and open-source components, each representing a potential entry point.
“Most organisations lack complete visibility into their software supply chain,” Mr Mitchell said, adding that attackers frequently exploit trusted vendors or update mechanisms to bypass perimeter defences.
Meanwhile, unpatched software vulnerabilities continue to expose organisations to risk, as attackers use automated tools to scan for weaknesses within hours of public disclosure. Legacy systems and critical infrastructure are especially difficult to secure.
Ransomware operations have also evolved, with criminals spending weeks inside networks before launching attacks.
“Modern ransomware operations function like businesses,” Mitchell observed, employing double extortion tactics to maximise pressure on victims.
Mr Mitchell concluded that the common thread across 2026 threats is complexity, noting that organisations need to abandon the idea that they can defend against everything equally, as this approach spreads resources too thin and leaves critical assets exposed.
“You cannot protect what you don’t know exists,” he said, urging organisations to prioritise visibility, map dependencies, and focus resources on the most critical assets.
Technology
NCC Begins Review of National Telecommunications Policy After 26 Years
By Adedapo Adesanya
In a consultation paper released to the public, the commission said it is seeking input from stakeholders, including telecom operators, tech companies, legal experts, and the general public, on proposed revisions designed to reposition Nigeria’s telecommunications framework to match current digital demands. Submissions are expected by March 20, 2026.
The NTP 2000 marked a turning point in Nigeria’s telecom landscape. It replaced the 1998 policy, introducing full liberalisation and a unified regulatory framework under the NCC, and paved the way for the licensing of GSM operators such as MTN, Econet (now Airtel), and Globacom in 2001 and 2002.
Prior to the NTP, the sector was dominated by Nigerian Telecommunications Limited (NITEL), a government-owned monopoly plagued by obsolete equipment, low teledensity, and poor service. At the time, Nigeria had fewer than 400,000 telephone lines for the entire country.
However, the NCC noted that just as the 1998 policy was overtaken by global developments, the 2000 framework has become structurally misaligned with today’s telecom reality, which encompasses broadband, 5G networks, satellite internet, artificial intelligence, and a thriving digital economy worth billions of dollars.
“The rapid pace of technological change and emerging digital services necessitate a comprehensive update to ensure the policy continues to support economic growth while protecting critical infrastructure,” the Commission stated.
The review will target multiple chapters of the policy. Key revisions include: Enhancements on online safety, content moderation, digital services regulation, and improved internet exchange protocols; a modern framework for satellite harmonisation, coexistence with terrestrial networks, and clearer spectrum allocation to boost service quality, and policies to address fiscal support, reduce multiple taxation, and lower operational costs for operators.
The NCC is also proposing entirely new sections to the policy to address emerging priorities. Among the key initiatives are clear broadband objectives aimed at achieving 70 per cent national broadband penetration, with a focus on extending connectivity beyond urban centres to reach rural communities.
The review also seeks to formally recognise telecom infrastructure, including fibre optic cables and network masts, as Critical National Infrastructure to prevent vandalism and enhance security.
In addition, the commission is targeting the harmonisation of Right-of-Way charges across federal, state, and local governments, alongside the introduction of a one-stop permitting process for telecom deployment, designed to reduce bureaucratic delays and lower operational costs for operators.
According to the NCC, the review aims to make fast and affordable internet widely accessible. “The old framework was largely voice-centric. Today, data is the currency of the digital economy,” the commission said, highlighting the need to close the urban-rural broadband divide.
The consultation process is intended to gather diverse perspectives to ensure the updated policy reflects current technological trends, market realities, and consumer needs. By doing so, the NCC hopes to maintain the telecommunications sector’s role as a key driver of economic growth and digital inclusion.
Technology
FG to Scrutinise MTN’s $2.2bn Full Take Over of IHS Towers
By Adedapo Adesanya
The Minister of Communications, Innovation and Digital Economy, Mr Bosun Tijani, says the Nigerian government is assessing MTN Group’s acquisition of IHS Towers to ensure the deal aligns with Nigeria’s telecommunications development goals.
On Tuesday, MTN Group said it has agreed to acquire the remaining 75.3 per cent stake in IHS Holding Limited in an all-cash deal valued at $2.2 billion. The deal will be funded through the rollover of MTN’s existing stake of around 24 per cent in IHS, as well as about $1.1 billion in cash from MTN, roughly $1.1 billion from IHS’s balance sheet, and the rollover of no more than existing IHS debt.
Mr Tijani, in a statement, said the administration of President Bola Tinubu has spent the past two years strengthening the telecom sector through policy clarity, regulatory support, and engagement with industry stakeholders, boosting investor confidence and sector performance.
“Recent financial results from key operators show improved profitability, increased investment in telecoms infrastructure, and operational stability across the sector,” he said.
“These gains reflect the resilience of the industry and the impact of government reforms.”
The minister added that telecommunications infrastructure is critical for national security, economic growth, financial services, innovation, and social inclusion.
“We will undertake a thorough assessment of this development with relevant regulatory authorities to review its impact on the sector,” Mr Tijani said.
He added that the review aims to ensure market consolidation or structural changes, protect consumers, safeguard investments, and preserve the long-term sustainability of the telecom industry.
Mr Tijani also said the government remains committed to maintaining a stable and forward-looking policy environment to keep Nigeria’s telecommunications sector strong and sustainable, in line with the administration’s broader digital economy vision.
Upon completion, the transaction will see MTN transition from being a minority shareholder in IHS to a full owner. It will also see IHS exit from the New York Stock Exchange and become a wholly owned subsidiary of MTN.
For MTN, the deal represents a decisive shift as data demand surges and digital infrastructure becomes increasingly strategic with a booming digitally-oriented youth population on the continent.
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