Echotitbits – Nigeria News

Tag: Nigeria tech

  • Nigeria to Host Major Conference on Africa’s Digital Economy

    Nigeria to Host Major Conference on Africa’s Digital Economy

    ThisDay reports that Nigeria has been selected to host the 2026 Conference on Africa’s Borderless Digital Economy.

    The event is expected to convene policymakers, tech entrepreneurs, and investors to discuss digital payments integration and harmonized data regulation across Africa, with an AfCFTA implementation lens.

    The Nation and BusinessDay also noted anticipated focus areas such as reducing cross-border transaction costs and showcasing Nigerian innovation to a global audience.

    Echotitbits take: Hosting is an opportunity for Nigeria’s fintech and enterprise tech ecosystem, but credibility will depend on fixing the basics: affordable data, reliable power, and predictable regulation. Expect deal-making around cross-border payments, digital identity, and AfCFTA-compliant trade digitization.

    Source: This Day – https://www.thisdaylive.com/2026/01/30/nigeria-to-host-2026-conference-on-africas-borderless-digital-economy/  2026-01-30

    Photo Credit: This Day

  • Regulators Mandate Fast Refunds for Failed Electronic Transactions

    Regulators Mandate Fast Refunds for Failed Electronic Transactions

    According to Premium Times, the Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) have finalized a joint regulatory framework to address the persistent issue of failed airtime and data purchases. The new policy mandates that subscribers who are debited without receiving value must be refunded within a specified short window, significantly reducing the current resolution time which often stretches into days.

    The framework introduces a Central Monitoring Dashboard, which will be co-hosted by the two regulators. The dashboard is designed to provide real-time visibility into transaction failures across Mobile Network Operators (MNOs) and Deposit Money Banks (DMBs), ensuring providers are held accountable for technical glitches and system downtimes.

    Stakeholders including Value Added Service (VAS) providers and financial institutions participated in months of negotiations to reach the agreement. Regulators say it responds to a surge in complaints about “hanging” funds during network instabilities, which has eroded trust in the digital economy.

    The Punch reports that banks and telecom operators have been given a March 1, 2026 deadline to fully implement the new refund framework, while BusinessDay highlights the technical target of near-instant refunds for failed airtime and data purchases to match the pace of modern fintech competitors.

    Echotitbits take: This is a major win for consumer rights in Nigeria’s digital space. By integrating NCC and CBN monitoring systems, the policy reduces the long-running “blame game” between banks and telcos. If implemented well, it could lift digital transaction volumes as confidence improves.

    Source: The Punch – https://punchng.com/ncc-cbn-unveil-refund-framework-for-failed-airtime-data-transactions/ 2026-01-09

    Photo Credit: The Punch

  • PalmPay Launches ‘Purple December’ Rewards Push

    PalmPay Launches ‘Purple December’ Rewards Push

    PalmPay has launched a month-long ‘Purple December’ campaign encouraging users to complete weekly digital tasks for prizes, culminating in a Christmas-themed social challenge.

    The fintech says the activation celebrates user loyalty and highlights everyday digital-payment stories during the festive season.

    Source: Punch, 2025-12-09