Nigeria’s telecommunications industry has shown remarkable resilience, rebounding from previous setbacks to achieve a significant milestone. As of January 2025, active mobile subscriptions have surged to 169.3 million, marking a substantial increase from the 164.9 million recorded in December 2024. This growth is primarily driven by the robust performance of major operators MTN and Airtel, which have expanded their subscriber bases during this period. The sector’s recovery follows a challenging period where subscriptions plummeted due to the mass deactivation of unverified SIM cards in February 2024. This led to a sharp decline in subscriptions, which hit a low of 154.9 million in September 2024. However, the industry has gradually regained momentum, with MTN strengthening its market position to 51.7% and Airtel securing 34.1% of the market share. This surge in subscriptions has also boosted Nigeria’s teledensity to 78.10%, up from 76.08% in December 2024. The sector’s growth shows its critical role in driving economic activity and digital transformation across the country. With ambitious plans to increase broadband penetration to 70% by 2025 and a target for the telecom sector to contribute 25% to GDP, Nigeria’s telecommunications industry is poised for further expansion and innovation.
Nigeria aims to achieve global rail standards with new five-year plan
Nigeria is on the cusp of a transformative era in its rail sector, with the Nigerian Railway Corporation (NRC) unveiling ambitious plans to revolutionize the country’s rail infrastructure over the next five years. This initiative aligns with the government’s Renewed Hope Agenda, aiming to elevate Nigeria’s rail system to global standards. Dr. Kayode Opeifa, the NRC’s Managing Director, has emphasized the government’s commitment to reversing decades of stagnation in the rail sector. Despite building 3,500 kilometers of tracks in 60 years, expansion stalled for six decades. However, with a comprehensive railway master plan set to be unveiled in April, Nigeria is poised for significant change. The NRC will focus on freight movement and collaborate with state governments to develop intra-city rail services, aiming for all states to have functional rail systems operating around the clock. This vision is supported by substantial investments, including N41.49 billion allocated in the initial 2025 budget for rail projects such as the completion of major rail lines and security upgrades. Meanwhile, the Minister of Transportation, Senator Said Alkali, has highlighted rail modernization as a key priority for 2025. This includes the commissioning of a new 62km rail corridor linking Port Harcourt and Aba, designed to connect Eastern Ports to the hinterland. These projects shows the government’s commitment to leveraging rail systems as a sustainable alternative to road transport, driving economic growth and national development.
EFCC partners with France to boost cybercrime investigations and asset tracking
The Economic and Financial Crimes Commission (EFCC) has announced a strengthened partnership with the French government to enhance efforts in asset tracking, cybercrime investigations, and security training in Nigeria. This agreement was formalized during a meeting on Tuesday, March 4, 2025, at the EFCC headquarters in Abuja. Lieutenant General Régis Colombet, Director of Security and Defence Cooperation at the French Ministry for Europe and Foreign Affairs, led the French delegation and met with EFCC Chairman Ola Olukoyede. The collaboration shows the importance of international cooperation in addressing cross-border financial crimes and cyber threats. During the meeting, Colombet highlighted France’s extensive efforts in regional security, including the establishment of specialized training centers. He pointed to initiatives such as the Cyber School in Dakar, Senegal, which provides training on cyber investigations, ransomware threats, and asset tracking. Additionally, he referenced an academy in Abidjan, Côte d’Ivoire, focused on counterterrorism training. “In our cooperation, we prioritize developing academic centers and training hubs, particularly in cyber investigations and security threats,” Colombet said. “Since crime knows no borders, international collaboration is essential, and the EFCC’s role in combating financial and cybercrimes is crucial to our collective security efforts.” Colombet also noted that this visit builds on a strategic meeting held in December 2024 aimed at deepening Nigeria-France security ties. The partnership extends beyond cybercrime to include cybersecurity, civil defense, and broader security concerns. EFCC Chairman Ola Olukoyede welcomed the renewed partnership, emphasizing the longstanding relationship between Nigeria and France in combating crime. He stressed the need for joint efforts to address transnational financial offenses such as money laundering and cybercrimes. “Nigeria and France have a long history of collaboration in crime prevention and investigation,” Olukoyede stated. “Given the borderless nature of financial and cybercrimes, international cooperation is crucial in curbing these offenses.” Olukoyede cited a recent success story where an international criminal syndicate operating across Europe and Asia was dismantled before it could establish operations in Nigeria. He noted that some victims of this syndicate were based in France, further underscoring the importance of sustained collaboration. The EFCC chairman also highlighted the differences between investigative approaches in Nigeria and Europe. While European agencies often rely on digital tools for immediate access to records, Nigerian investigations frequently require extensive fieldwork. He expressed optimism that combining Nigeria’s practical expertise with France’s advanced technological tools would create a more effective strategy for combating crime. “We appreciate the opportunities for training and capacity building,” Olukoyede added. “By working together, we can significantly reduce the chances of criminals finding safe havens anywhere in the world.” The partnership reflects a shared commitment to tackling financial crimes linked to arms trafficking, terrorism, and civil unrest. Both parties emphasized that international cooperation is vital for global security. This collaboration marks another step forward in addressing modern security challenges through technology-driven solutions and cross-border partnerships
Nigerians express frustration as CBN’s new ATM withdrawal charges take effect
Bank customers across Nigeria have voiced their dissatisfaction as the Central Bank of Nigeria’s (CBN) revised ATM withdrawal charges officially came into effect on Saturday, March 1, 2025. The updated fee structure has introduced new costs for withdrawing cash from Automated Teller Machines (ATMs), sparking widespread complaints amid ongoing economic challenges. Under the new policy, customers withdrawing up to N20,000 from ATMs located outside their bank’s network will now pay a fee of N100 per transaction. For off-site ATMs, those not directly affiliated with a bank branch, withdrawal fees have increased to N600 per transaction. However, withdrawals from one’s own bank ATMs remain free. The CBN, in a circular issued on February 10, 2025, explained that the changes were necessary to address rising operating costs and improve the efficiency of ATM services across the banking sector. Yet, many Nigerians see the move as an additional burden in an already challenging economic climate. Many customers are struggling to adjust to the new fees. Halima, a shopper, shared her frustration after being charged N600 for withdrawing N15,000 at a shopping mall. “I needed cash to complete payment for some items I bought, and I was shocked by the charge,” she said. John Showemimo, another customer, lamented the lack of viable alternatives. “Using a Point-of-Sale (POS) agent is even more expensive. To withdraw N20,000 via POS, I would pay N500. If I go to my bank’s ATM to avoid fees, I’ll spend N600 on transport. What better option do I have?” he asked. For small business owners like Iya Bode, who rely heavily on cash transactions, the new charges are particularly troubling. “I use my ATM card more than five times daily because of my trade. POS agents charge too much, so I prefer ATMs. Now they’ve increased the fees again, this is too much,” she said. Despite customer complaints, some banking officials believe the new charges are justified and necessary for improving services. A staff member working in a bank’s operations department noted that while customers are unhappy about the fees, there hasn’t been a noticeable decline in ATM usage since the policy took effect. “Customers are still using our ATMs despite the complaints,” she said. “The CBN’s move to reduce cash flow in the economy is aimed at curbing criminal activities and promoting digital transactions, it’s a step in the right direction.” However, others predict a shift in customer behavior. Daniel, an employee at one of Nigeria’s tier-1 banks, anticipates that more people will turn to POS agents for smaller withdrawals to avoid long queues and potential issues with ATMs. “For amounts below N10,000, many will prefer POS agents over traveling to distant ATMs,” he explained. The new charges have also drawn criticism from advocacy groups. The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the CBN over what it describes as an “unlawful and unfair” increase in ATM fees. In an open letter addressed to President Bola Tinubu, SERAP urged him to direct CBN Governor Olayemi Cardoso to suspend the implementation of these charges until the lawsuit is resolved. “Implementing these increased fees while the case is pending undermines both judicial processes and the rule of law,” SERAP stated. On-site ATMs (located within or directly affiliated with bank branches) remain free for customers withdrawing from their own accounts. Off-site ATMs (found in public spaces like malls or fuel stations) now attract higher withdrawal fees. Customers denied withdrawals up to N20,000 per transaction can file complaints with the CBN via cpd@cbn.gov.ng. For international withdrawals, banks will charge customers based on cost recovery, the exact fee imposed by foreign ATM operators.
Habby Forex embroiled in scandal after trader loses $110,000
The Nigerian forex trading community is grappling with a storm of allegations against Habby Forex, a prominent trading academy founded by Damilare Ogundare. While the academy has built a reputation for offering mentorship programs and trade signals, recent accusations from multiple victims have cast a shadow over its operations. The controversy gained traction after a trader, @deekay_umar, shared his devastating experience. He alleged that Habby Forex mismanaged his account, leading to a staggering $111,000 loss over two years. “I gave @Habbyforex_ $111,000 of my hard-earned money, believing it was in the right hands. Instead, he wiped it out like it was nothing,” the victim shared in an emotional post. He further accused Michael Udoh of playing a significant role in convincing him to invest through Infinox with Habby managing the trades. According to @deekay_umar, he was encouraged to add more funds to “save” the account but ended up losing $62,000 in a single day. What made matters worse was Habby Forex allegedly using screenshots of his account for promotional purposes without consent. In his own words, @deekay_umar recounted:“He (Habby) took screenshots of the $10,000 from my account and posted it on his Telegram group… I checked his Instagram and YouTube only to find videos of my blown account being used as bragging material.” “Imagine—this wasn’t even his withdrawal. I made it myself, yet he used it as proof of his so-called expertise,” he said. The victim described how he was lured into investing through promises of financial growth and stability, after trusting Habby Forex and his associate Michael Udoh. Instead, he faced financial ruin and emotional distress. The allegations have drawn attention from activists like Very Dark Man, who have been vocal about scams in the forex trading industry. They have warned potential investors to exercise caution and thoroughly verify credentials before engaging with trading academies. Very Dark Man emphasized that flashy lifestyles and promises of guaranteed profits are often red flags in the forex space. The academy claims to have helped thousands of individuals gain financial independence through its mentorship programs and sniper entry trading strategies.However, the growing number of complaints has left many questioning its credibility. While some still view Habby Forex as a valuable resource for traders, others see these allegations as evidence of deeper issues within the academy’s operations. The stories of @deekay_umar and other victims highlight the risks associated with unregulated forex trading platforms. In an industry often plagued by scams and misinformation, these cases serve as stark reminders for investors to remain vigilant and avoid handing over funds without thorough due diligence. As calls for accountability grow louder, it remains to be seen how Habby Forex will respond to these mounting allegations. For now, trust in the academy appears to be hanging by a thread.
Wendy Okolo: The first black woman to earn a PhD in aerospace engineering
At just 36 years old, Wendy Okolo is breaking barriers and inspiring a new generation of innovators in aerospace engineering. As the first Black woman to earn a PhD in the field, her story is one of brilliance, determination, and a relentless pursuit of excellence. Born in 1989 and raised in Lagos, Nigeria, Okolo’s academic journey began at Saint Mary’s Primary School and Queen’s College. From a young age, she demonstrated exceptional intelligence, consistently earning top grades. However, her path to engineering was initially shaped by her mother, who envisioned her daughter becoming an engineer long before Okolo herself understood what that entailed. Her passion for aerospace engineering took flight during her undergraduate studies at the University of Texas at Arlington (UTA). It was there that she discovered her true calling and began laying the foundation for an extraordinary career. Rising Through the Ranks at NASAOkolo’s career trajectory has been nothing short of remarkable. She began as an undergraduate intern at Lockheed Martin, where she worked on NASA’s Orion spacecraft. This early exposure gave her hands-on experience in systems and mechanical engineering. Later, as a graduate student, she contributed to the Air Force Research Laboratory at Wright-Patterson Air Force Base. Today, Okolo serves as a sub-project manager and researcher in the Intelligent Systems Division at NASA Ames Research Center. She conducts cutting-edge research in the Discovery and Systems Health Technology (DaSH) division, focusing on autonomous systems and vehicle safety. Her work is helping shape the future of aerospace innovation. A Trailblazer with Numerous AccoladesOkolo’s groundbreaking contributions have earned her numerous prestigious awards. Among her many honors are: The Amelia Earhart Fellowship The Department of Defense National Defense Science and Engineering Graduate (NDSEG) Fellowship NASA Ames Early Career Researcher Award (2019) – becoming the first woman to receive it NASA Exceptional Technology Achievement Medal (2021) Black Engineer of the Year Award for Most Promising Engineer in U.S. Government Recognition as one of the Most Influential People of African Descent by the United Nations (2021) In addition to her professional achievements, Okolo made her literary debut with Learn to Fly: On Becoming a Rocket Scientist in June 2023. The book chronicles her journey and aims to inspire young people, especially women and minorities, to pursue careers in science, technology, engineering, and mathematics (STEM). Wendy Okolo’s story is not just one of personal success but also a testament to what is possible when talent meets opportunity. As she continues to soar in her career, she remains a beacon of hope for aspiring engineers around the world.