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2nd National Fintech Conference Begins Tomorrow in Lagos

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By Dipo Olowookere

The second edition of the much-anticipated National Fintech Conference is slated to begin on Thursday, January 25, 2018.

The two-day event will take place at the Landmark Event Centre in Lagos and several experts in the industry have been lined up to speak at the conference.

The National Fintech Conference is an exclusive gathering of Africa’s largest financial institutions, best fintech start-ups, technology companies, industry experts and most active venture investors.

The total investment in Fintech in 2016 was $24.6 billion according to KPMG while an annual 20 percent ROI is expected on Fintech related projects as indicated in a PWC report.

Similarly, in Fintech Trends Report for 3rd quarter of 2017, industries under the sector closed 496 deals worth $8 billion in the first half of 2017.

Many African countries particularly Nigeria have benefited from the massive investments in Fintech and are creating world class innovation that promises to significantly contribute to the development of their economies.

In Nigeria, activities in the Fintech ecosystem continue to soar with series of investment in up and coming Fintechs with special emphasis placed on Fintech partnership and collaboration.

During the conference that begins tomorrow, expert will try to look at how should incumbents especially financial institutions relate in a win-win scenario with up and coming and established FinTechs?

Also, they will focus on what needs to be done to develop Fintech ecosystem in Nigeria to position Nigeria not only as Africa’s Fintech leader but a force to reckon with in the global Fintech landscape?

Other issues they will beam their searchlights on include what are needed to create solutions that address real life problems and challenges of Nigeria? How to adapt and leverage international best practices to fast-track Fintech growth and contribution to economic development? And what are the emerging technologies and initiatives that are trending across the globe?

Organisers of the event are Fintech Associates Limited (Fintech), FinTechStage, and the CIBN Centre for Financial Studies (CIBNCFS).

Speakers include Mr Ogbonnaya Onu, Minister of Science and Technology; Dr Segun Aina, Chairman, Fintech Associates Limited & President, FinTech Nigeria; Matteo Rizzi, Co-Founder, FinTechStage; Dr Amine Mati, Senior Resident Representative, IMF; and Lazaro Campos, Co-Founder, FinTechStage.

Others are Tunde Badejo, MD/CEO, Soft Alliance & Resources Limited; Dr Bola Akindele, Founder/CEO, Courteville Business Solutions; Ashley Lewis, Investment Officer West Africa, Accion Venture Lab; and Prof Segun Ajibola, President, Chartered Institute of Bankers of Nigeria.

Also to speak at the conference Tokunboh Ishmael, Co-Founder & Managing Director, Alitheia Capital; Mrs Temitope Akin-Fadeyi, Head, Financial Inclusion Secretariat (CBN); Mary Aina, Director, Wealth & Vendor Oversight; Prof Oye Ibidapo-Obe, Director, Zenith Bank; Ike Williams, CIO, Heritage Bank Plc; Mohammed Kari, Commissioner for Insurance National Insurance Commission; amongst many others.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Nigeria to Buy Two New Communication Satellites to Drive Digital Growth

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Communication Satellites

By Adedapo Adesanya

Nigeria will purchase to new communication satellites to boost Nigeria’s digital infrastructure as part of efforts to achieve President Bola Tinubu’s plan to grow the economy to $1 trillion.

The Minister of Communications and Digital Economy, Mr Bosun Tijani, disclosed this on Wednesday in Abuja at a press conference to mark Global Privacy Day 2026, organised by the Nigerian Data Protection Commission (NPDC).

Mr Tijani said the approval marked a significant shift in Nigeria’s digital strategy, noting that the country currently stands out in West Africa for lacking active communication satellites, a gap the new assets are expected to address.

“As you know, Mr President has been very clear about his ambition to build a $1 trillion economy, and digital technology is central to achieving that vision,” adding that, “The President has now approved that we should procure two new satellites. Nigeria today is the only country in West Africa with non-communication satellites. And we have been given the go-ahead to procure two new ones, ensuring that we can use that satellite to connect.”

He also said progress had been made on the Federal Government’s flagship 90,000-kilometre fibre optic backbone project, which is aimed at expanding broadband access across the country. According to the minister, about 60 per cent of the fibre project has been completed, while funding for the remaining work has already been secured.

“The 90,000 kilometres fibre optic project is not a dream. About 60 per cent of the work has already been completed, and the funding for the project is secure. As we bring more Nigerians online, connectivity without protection is incomplete. Privacy is the foundation of trust, safety, and sustainability in the digital world.”

“The success of Nigeria’s digital economy will depend not just on infrastructure and talent, but on trust, and the NDPC remains central to building that trust,” the minister said.

Mr Tijani said the Tinubu administration was positioning digital technology as a key driver of inclusive growth, improved public service delivery, and long-term economic expansion, adding that investments were also being channelled into digital skills, rural connectivity, and institutional reforms.

He stressed that the expansion of connectivity must be matched with stronger data protection, especially as Nigeria’s young and digitally active population continues to grow.

Recall that Nigerian Communications Commission (NCC) recently granted licenses to three global internet service providers – Amazon’s Project Kuiper, BeetleSat-1, and and Germany-based Satelio IoT Services – as part of efforts to strengthen internet connectivity via satellite and to boost competition among existing internet service providers in the country.

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DataPro Predicts Surge in Individual Claims, Constitutional Privacy Actions

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DataPro 2026 Privacy Week

By Dipo Olowookere

In 2026, there should be a surge in individual claims and constitutional privacy actions, a leading Data Protection Compliance Organisation (DPCO) in Nigeria, DataPro, has projected.

In a statement signed by its Head of Emerging Services, Ademikun Adeseyoju, the company noted that this means organisations must remain “litigation ready” by preserving processing records and strengthening internal controls.

In the disclosure to prepare for this year’s Privacy Week themed Privacy in the Age of Emerging Technologies: Trust, Ethics, and Innovation, it noted that 2026 would also be defined by board and executive ownership, as privacy will no longer be an IT-only concern but a standing governance issue requiring regular risk reports and dedicated budgets.

“DataPro anticipates intensity on sector-specific enforcement, with the NDPC (Nigeria Data Protection Commission) focusing on high-risk industries like fintech, healthcare, etc,” a part of the statement made available to Business Post on Wednesday said.

Giving a review of key milestones from the 2025 ecosystem, DataPro said the NDPC moved decisively into active enforcement, publicly naming non-compliant entities, particularly in the financial services sector.

It also said the year witnessed landmark court rulings, affirming that transparency in personal data handling is a constitutionally protected right, as courts awarded significant damages to data subjects for privacy breaches, signalling that organisational size no longer shields against accountability.

The firm noted that regulatory settlements with multinational technology firms have set a high bar for behavioural advertising and data processing standards in Nigeria.

In the cybersecurity landscape, the year under review experienced an unprecedented surge in cyber threats, as attackers shifted their focus from technical exploits to identity-driven campaigns, targeting valid credentials with high precision.

“This identity-centric threat environment has made robust access management a non-negotiable requirement for corporate resilience,” it stressed.

As for the 2026 Privacy Week, DataPro has lined up activities, with launch of the Privacy Pulse A year-in-review of Nigeria’s Data Protection Ecosystem on Thursday, January 29.

The next day, a webinar tagged Privacy Pulse to train attendees on the new mandatory bi-annual in-house audits and DPO certification requirements will hold and next Monday, there is an interactive quiz designed to test organizational response to identity-driven cyber campaigns.

A social media session answering complex privacy questions via concise 30-second videos is slated for Tuesday, February 3, and the next day, it is for a social media showcase where winners will be selected for their insights on building Trust, maintaining Ethics in AI, and fostering Innovation under the NDPA.

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MTN Nigeria Suffers 9,218 Fibre Cuts in 2025

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Karl Toriola MTN Nigeria

By Adedapo Adesanya

MTN Nigeria has revealed that it experienced 9,218 fibre cuts in 2025, causing widespread network disruptions across the country.

The telecommunications giant also reported that 211 sites were affected by theft and vandalism as of November 30, 2025, impacting essential services relied upon by customers daily.

The company recorded a total of 1,624,263 customer complaints, all of which were resolved across various service channels during the year. Despite these challenges, MTN reached 85 million subscribers by September 2025.

The chief executive of the telco, Mr Karl Toriola, made these revelations in his latest post on LinkedIn, acknowledging the company’s responsibility for network performance and its efforts to improve the customer experience.

He stated that the services fell short of customers’ expectations and clarified that some of these gaps were shaped by real operational challenges such as fibre cuts, theft, and vandalism.

“Their impact is felt directly by customers and reflected in what they tell us. We take responsibility for the signals we receive and for how we respond to the realities that shape the customer experience on our network,” he said.

Regardless, Mr Toriola added that, “There is progress to be proud of. And we clearly still have work to do.”

“We are not where we want to be yet, but our commitment to putting the customer at the centre of everything we do remains constant.”

As MTN prepares to celebrate its 25th anniversary in 2026, Mr Toriola reaffirmed the company’s dedication to listening to customers, responding quickly to issues, and driving consistent service improvements.

Some other milestones announced include addressing 1,624,263 customer complaints across all communication channels as well as receiving best network recognition from Ookla, getting back to profitability, and declaring interim dividends to shareholders.

The report comes in the wake of a February 2025 initiative by the Federal Ministry of Works and the Federal Ministry of Communications, Innovation, and Digital Economy, which established a joint standing committee on the protection of fibre optic cables in Nigeria.

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