MTN Group is exploring banking licences in some of its African markets as the telecommunications giant seeks to expand its lending business and use its balance sheet to provide loans directly to customers. MTN Group chief executive officer, Ralph Mupita, disclosed this on Tuesday while speaking with journalists. He said the proposed banking model would …
Nigeria’s Securities and Exchange Commission (SEC) is moving to bring more of the country’s rapidly expanding digital asset market under formal regulatory oversight. But the growing scale of crypto activity means the regulator now faces a bigger challenge, that is, turning a largely market-driven ecosystem into a compliant and investor-protected financial market. The SEC recently …
Financial Services Innovators (FSI), in partnership with Mentors Without Borders (MWB), has expanded its one-year Tech Mentorship Programme to Aliko Dangote University of Science and Technology (ADUSTECH), Wudil, Kano State. The initiative is designed to equip university students with practical technology skills, industry knowledge and professional mentorship to improve their employability and career prospects in …
The International Monetary Fund (IMF) has said artificial intelligence (AI) could increase Sub-Saharan Africa's gross domestic product by about four per cent over the next decade if countries, including Nigeria, address long-standing constraints such as unreliable electricity, weak digital infrastructure and skills shortages. In its 2026 departmental paper, 'Unlocking the Potential: AI in Sub-Saharan Africa', …
A Federal High Court judgment has affirmed the validity of the rules for the Federal Competition and Consumer Protection Commission (FCCPC) to resume the implementation and enforcement of the Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations, 2025 (DEON Regulations). The FCCPC disclosed this in a statement on Monday, July 20. It said the decision …
President Bola Tinubu has signed a new Executive Order establishing a coordinated regulatory framework for virtual assets, creating a CBN-led council to strengthen oversight of the digital economy, curb fraud and close regulatory gaps exploited by unregistered operators. The Presidential Executive Order on Virtual Assets Coordination, 2026, which takes immediate effect, is designed to harmonise …
The Federal Government has directed regulatory agencies under the Ministry of Communications, Innovation and Digital Economy to adopt a unified approach on policies affecting internet platforms, online intermediaries and other cross-cutting digital economy issues, as it moves to eliminate regulatory overlap and strengthen investor confidence. The directive was issued by the Minister of Communications, Innovation …
The Securities and Exchange Commission (SEC) has granted Approval-in-Principle (AIP) to seven fintech and digital asset firms under its Accelerated Regulatory Incubation Programme (ARIP). The admission allows the firms to operate within the SEC regulatory sandbox as the Commission steps up efforts to support innovation while protecting investors. The approval, announced in a public notice …
The decision by the Nigerian Communications Commission (NCC) and the Corporate Affairs Commission (CAC) to require regulatory approval for significant changes in telecom company ownership raises concerns about whether the measure will strengthen market transparency or create fresh hurdles for investors. Under the new framework announced on June 21, any transfer of shares amounting to …
The Nigerian Communications Commission (NCC) has directed telecommunications companies to obtain its approval before any transfer of shares amounting to 10 per cent or more of their ownership structure. The agency gave the directive in a joint statement issued on Sunday by the commission and the Corporate Affairs Commission (CAC). It said the new requirement …
