The Nation Newspaper

Tag: Mobile

  • ‘Nigerians lost N42b to PoS, mobile fraud in Q2’

    ‘Nigerians lost N42b to PoS, mobile fraud in Q2’

    A new report from Nigeria’s Financial Institutions Training Centre (FITC) has shed light on a rising wave of fraud that cost Nigerians N42 billion between April and June 2024.

    The report highlighted how fraudsters targeted point-of-sale (POS) systems and mobile devices, with fraudulent activities involving these technologies reaching alarming levels.

    The second-quarter report of 2024 recorded11,532 cases of fraud, with a total value of N56.3 billion, marking a sharp increase from N34.8 billion in the first quarter. Out of this, N42.6 billion was successfully stolen, while financial institutions managed to recover N13.7 billion.

    The report showed mobile fraud was the most prevalent, responsible for 33.4 percent of the reported incidents, followed by POS-related fraud at 24.6 percent.

    These forms of fraud, it underlined, include scams carried out through mobile apps and internet banking platforms.

    Web-based fraud accounted for 16.9 percent of the cases, underlining the growing sophistication of cybercriminals.

    The FITC report also noted that most of the losses occurred at the bank branch level, where 95 percent of the total fraud value, approximately ₦54 billion, was recorded.

    According to FITC, this points to a troubling increase in insider involvement, with 49 employees dismissed for their role in these schemes during the quarter.

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    The report indicated fraudsters continue to exploit weaknesses in both modern and traditional systems despite advancements in digital security.

    While card-related fraud declined by 31.8 percent, there was a notable surge in cheque and cash fraud, underscoring the adaptability of criminals in Nigeria’s financial sector.

    The FITC report urged financial institutions to adopt more sophisticated tools, such as artificial intelligence, to combat increasingly complex fraud schemes.

    It also emphasised tougher regulatory oversight, continuous employee training, and enhanced security protocols as crucial steps in safeguarding the sector.

    As Nigeria continues to digitise its economy, the surge in fraud highlights the ongoing struggle between financial institutions and the evolving tactics of cybercriminals.

    The report serves as a warning that robust, innovative responses are needed to protect consumers and institutions alike.

  • Mobile money firm hires payment agents

    Lets Limited, a mobile money brand, is recruiting additional payment agents to facilitate business expansion.

    Speaking on the development, Fets CEO Mrs. Omotade Odunowo, said that over the last few years, the company has seen constant rise in demand for mobile money in Nigeria, and for our services in particular. That is why we would like to encourage interested agents to get in touch.

    Fets Ltd, Nigeria’s leading mobile money transfer company, is recruiting additional payment agents, starting from this week. The recruitment drive is the result of the expansion of mobile money in Nigeria, as well as the growth of fets into one of the country’s chief providers of mobile money services.

    Announcing the recruitment launch, fets CEO Omotade Odunowo said: “Over the last few years, we have seen the rise in demand for mobile money in Nigeria, and for our services in particular. Fetswallet, our award winning app, is now being used regularly by over 2 million individuals and businesses, and there is still significant growth potential. That is why we would like to encourage interested payment agents to get in touch.”

    Odunowo added: “We want our services to be readily accessible to every citizen of Nigeria. That is why Fetswallet is the first mobile money app to be available in five of Nigeria’s main languages. And this is also the reason for our current recruitment drive. We want our users to be able to send money at a touch of button and cash in their transfer within minutes – wherever they are in Nigeria. If you can help us achieve this vision, please get in touch.”

  • Mobile will boost Nigeria’s, others’ economies by $51b

    OVER the next five years, the mobile industry will boost the economies of Nigeria and  other West African  countries with $51 billion, the Global System for Mobile Communication Association (GSMA) has said.

    The group said the sub-region’s mobile ecosystem contributed $37 billion last year, equivalent to 6.5 per cent of Gross Domestic Product (GDP), and will grow to $51 billion (7.7 per cent of GDP) within five years.

    According to a report titled: Mobile West Africa 2018 released by GSMA at the Mobile 360 – West Africa forum in Abidjan, Cote d’Ivoire at the weekend, the economic contribution over this period will be spurred by strong subscriber growth and the move to mobile broadband networks and services, the company says in a statement.

    GSMA Chief Regulatory Officer, John Giusti, said the report shows how important the mobile ecosystem is to the economy of the sub-region.

    He said: “Today’s report demonstrates the vital role West Africa’s mobile ecosystem is playing in driving economic growth and empowering citizens across the region, as well as in delivering against many of the targets of the UN’s Sustainable Development Goals. However, further work is required as more than half of West Africa’s citizens are not yet connected to a mobile service, excluding them from the socio-economic benefits that mobile delivers.”

    According to the report, written by GSMA Intelligence, at the end of last year, there were 176 million unique mobile subscribers across the West African sub-region, which comprises the 15 members of the Economic Community of West African States (ECOWAS). This is equivalent to a penetration rate of 47 per cent of the region’s population, up from just 28 per cent at the start of the decade.

    The ECOWAS region comprises Nigeria, Benin, Burkina Faso, Cape Verde, Côte d’Ivoire, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Senegal, Sierra Leone and Togo. Strong subscriber growth is forecast to continue over the coming years; 72 million additional mobile subscribers are expected to be added in West Africa by 2025, lifting subscriber penetration to 54 per cent.

    Much of this growth is attributable to the demographic situation across the region, as large youth populations are expected to take out mobile subscriptions as they reach adulthood.

    According to the report, more than 40 per cent of the population in many countries across sub-Saharan Africa is below 16.

    Meanwhile, the transition to mobile broadband in the sub-region is being driven by the expansion of 3G and 4G networks, lower data tariffs and the increasing affordability of smartphones. 3G networks cover two-thirds of the regional population and 4G adoption is also rising rapidly.

    The GSMA said as of last month, there were 29 live 4G long-term evolution (LTE) networks in nine countries across West Africa, six of which have launched in the last year, adding that 3G and 4G together accounted for 36 per cent of West African mobile connections in 2017 and are forecast to rise to 94 per cent of the total by 2025.

    Local operators are expected to spend $8 billion (capex) over the next two years building out and upgrading their networks.

  • iPhone X Mobile for launch today in Lagos

    iPhone X Mobile for launch today in Lagos

    The iPhone X Mobile phone will be launched in Lagos today.

    The mobile device, experts say, is arriving Nigeria at a good time when users will have the great experience it gives its users.

    Over the years, the iPhone has become an exciting device to share stories and personal experiences, and this can only get better with the new iPhone X.

    Mobile phones have become the most common gadgets and, usually, those with the means would prefer to build a relationship with brands with excellent storytelling techniques.

    The new phone is a typical example of how brands relate to customers through storytelling, by developing a relevant connection built on functionality.

    It caters to specific demands and creates lasting and healthier experiences for the users.

    Within the tech space, the iPhone series have been very consistent in production, and more often than not, the brand meets consumers’ expectations.

    The new iPhone X is the ideal device for tech-savvy, upwardly mobile individuals and business owners.

    The super retina display features a 2436 x 1125 resolution with 458 pixels per inch, the highest resolution and pixel density Apple has introduced in an iPhone.

    It offers true tone technology, which uses an ambient light sensor to adjust the white balance of the display to match the ambient lighting in any room.

    The phone is the sort of future all users dream of.

  • Equity Assurance launches mobile insurance product

    Equity Assurance Plc., a member of SUNU Group, has announced the launch of its innovative mobile (USSD) insurance solution.

    The company Chairman, Abba Kyari Bukar, while speaking at the launch in Lagos, said Equity mobile insurance solution is not just innovative for the sake of it, but designed to address existential challenges that have faced insurance customers in Nigeria over the past 100 years.

    The product, he said, is a simple, first-of-its kind, self-service solution, which enables car owners to  purchase authentic 3rd Party Auto Insurance with the use of their mobile phones in less than five minutes.

    Kyari Bukar pointed out that the company was aware of the government’s drive towards achieving financial inclusion across the country hence the development of the product to further the objective.

    He stressed that the product is available to everyone, regardless of their GSM network, type of phone or whether or not they have access to the internet..

    He further stated that the company’s decision to develop this ground-breaking mobile insurance solution is aimed at ensuring excellent customer experience at all times and affordable cost.

    He added that it guarantees customers’ convenience, easy and secure access, real-time interaction and speedy service, noting that it serves as a platform for customers’ engagement, claims payment and other after-purchase services.

    The company Managing Director, Moruf Apampa, said the  mobile (USSD)  application also serves as a platform for customers’ engagement, claims payment and other after-purchase services.

    He said:“The company’s decision to develop this ground-breaking mobile insurance solution is aimed at ensuring excellent customer experience at all times for its existing and prospective customers at affordable cost.

    “The application will be available to all customers, regardless of their GSM network or type of phone they use, whether they have internet access or not, effective December 8, 2017.

    “Furthermore, Demo and animated illustrations can be viewed by prospective customers and general public on the firm’s website in order to better understand how to purchase/use the product as well as its different service features and functionalities,” he noted.

    SUNU  Group is a leading Insurance Group that operates in 14 countries in Africa.

  • Africa’s mobile subscriptions to hit 310m by 2023

    Long Term Evolution (LTE) subscriptions will expand by 47 per cent from 30 million in 2017 to 310 million by 2023 in Nigeria and the entire Sub-Saharan Africa, latest Ericsson Mobility Report, has said.

    Ericsson is a world leader in communications technology and services with headquarters in Stockholm, Sweden

    The report also announced that mobile subscriptions in Sub-Saharan Africa are expected to grow by six per cent, between 2017 and 2023, from 700 million mobile subscriptions in 2017 to 990 million subscriptions by 2023.

    Moreover, mobile traffic in the Middle East and Africa (MEA) will increase at a compound annual growth rate (CAGR) of 49 per cent while mobile subscriptions for the total MEA region are expected to grow at four per cent CAGR between 2017 and 2023, from 1.59 billion in 2017 to 2.03 billion by 2023.

    The report, which was accessed by The Nation, during the week, said this equates to three per cent growth in the Middle East and North Africa, from 890 million mobile subscriptions to 1.04 billion subscriptions between 2017 and 2023.

    On the other hand, mobile broadband subscriptions are forecast to grow by 15 per cent for the MEA region from 820 million in 2017 to 1.85 billion by 2023. This is broken down into a 13 per cent increase for the Middle East and North Africa from 460 million mobile broadband subscriptions in 2017 to 980 million by 2023.

    Similarly, Sub-Saharan Africa mobile broadband subscriptions are forecast to grow by 16 per cent from 350 million in 2017 to 880 million by 2023.

    When it comes to LTE subscriptions, the MEA region is expected to grow by 29 per cent, from 190 million to 860 million by 2023. This means that LTE subscriptions in the Middle East and North Africa will grow by 23 per cent, from 160 million in 2017 to 570 million by 2023.

    For the Sub-Saharan Africa region, LTE subscriptions will expand by 47 per cent from 30 million in 2017 to 310 million by 2023.

    Head of Ericsson MEA Rafiah Ibrahim said: “Total mobile traffic for the region is forecasted to grow by around 49 per cent annually between 2017 and 2023. This rapid growth is seeing operators increasingly exploring methods of optimizing their networks with more capacity and coverage.”

  • NASCO signs on KekeAds for mobile adverts

    NASCO signs on KekeAds for mobile adverts

    Foremost mobile advertising company, KekeAds, has been named one of the major media options for leading West African fast moving consumer goods (FMCG) company, NASCO Group. The partnership which was sealed recently underscores the huge drive by NASCO to improve the lives of its customers and people all over the country with its range of household items.

    According to the marketing manager, NASCO, Mr. James Iwunze, NASCO, as one of Nigeria’s oldest brand, has re-branded itself to fit the needs of the 21st century Nigerian with its renowned snacks like NASCO biscuit, NASCO short-bread, NASCO crackers etc; soaps, sanitary products, among a range of others. Iwunze said the choice of KekeAds was an easy one, as the company was looking for a simple, smart, mobile means to project its new range of goods and make them visible to customers in all the states of the federation.

    Speaking after the confirmation, the Head, Client Services, KekeAds, Ms. Lois Peters, hailed the partnership and thanked the company, one of Nigeria’s oldest indigenous brands, for finding KekeAds fit to advertise its range of products in every state, city and locale. She also assured that besides carrying visual adverts on the rear-end of the commissioned tricycles popularly called ‘Keke’, commuters would listen to messages from NASCO via the fitted automated audio advertising system, with key themes being the education of the public on life enhancing opics, as well as playing out the benefits of the NASCO products to the consuming commuters and creating awareness on what’s new from NASCO.

    Peters further stated that as the social impact focus has become customary since it went mainstream, KekeAds would be impacting on the economies of the various locations in Jos, Onitsha, Aba and Owerri, as the selected operators of the ‘Kekes’ would earn more income for themselves when they are commissioned to carry the adverts which will help alleviate poverty. She said, “KekeAds, through its activities, will provide jobs in the states, as the branding will have to be produced and installed by; the youth, administrative workers and even the ‘Keke’ unions who monitor the campaigns on behalf of KekeAds, will all be paid.”

  • Mobile banking: UBA unveils *919# magic banking

    Mobile banking: UBA unveils *919# magic banking

    United Bank for Africa (UBA) Group has introduced a full-fledged banking platform, tagged UBA Magic Banking enabled by dialing *919# within Nigeria.

    The USSD code *919#  enables customers to do a multitude of tasks such as open UBA accounts,  transfer funds to UBA and other banks, buy airtime,  pay  bills and access a mini statement.

    Its  Group Managing Director, Kennedy Uzoka also noted that the introduction of the new products is in line with the bank’s policy of democratising banking on the continent by reaching out to the unbanked through technology driven platforms that are simple, efficient and user friendly.

    Its Group Head, Consumer and Digital Banking, Adeyinka Adedeji said: “Not only does this code work on all phone types, it is fast and convenient and does not require data on the phone to send money. It also allows a higher transaction limit of up to N1m per day with the UBA Secure Pass (formerly token)”

    Adedeji noted that to send money to a UBA account for example, the user should dial *919*3# from their phone number  registered with UBA and follow the simple steps prompted by the phone.

    Also, by dialing *919*32#, the customer can send money to a UBA Prepaid Card and to other banks by dialing *919*4#.  “You can top up your airtime by dialing *919*Amount# and third party top-up can be done with *919* Phone number* Amount#.

    “For a full range of services, a customer will dial *919#,” he added.

    “We are committed to innovating through products and services in the financial technology space that will ensure our customers have the best banking experience with all our service channels, and we have committed huge financial investments towards achieving this”.

  • NCC, security bodies partner on mobile crime

    NCC, security bodies partner on mobile crime

    The Executive Vice Chairman, Nigerian Communications (NCC), Prof. Umar Dambatta, has restated the regulator’s commitment to hunting criminal elements who use the mobile phone to perpetrate heinous crimes.

    Dambatta spoke through the Commission’s Executive Commissioner, Technical Services,  Ubale Maska, at the weekend during a sensitisation workshop organised by NCC in Kano, Kano State.

    He said the agency was partnering all the security agencies to ensure that crimes aided by mobile phones were reduced to the barest minimum.

    Dambatta said: “With the support of the security agencies, the commission has been able to carry out raids on criminal clusters to mop up pre-registered SIM cards and the need to migrate from there to design more effective strategies to beat every instance of violation of the laws that will ensure that anyone who is arrested in this regard is prosecuted.”

    Dambatta said the Commission inaugurated 700 projects in various institutions across the country as part of its school support programme, adding that it was all part of NCC’s series of social capital programmes aimed at galvanising the nation’s socio-economic development.

    “The projects are similar initiatives instituted by the Universal Service Provision Fund (USPF), a special intervention fund supervised by the department of the Commission.

    “In this regard, the USPF has delivered over 400 projects to educational institutions and communities across Nigeria,” he said.

    According to him, NCC’s contribution to the nation’s GDP is put at 10 per cent, “yet, we look forward very enthusiastically to seeing greater development in the sector because we are irrevocably committed to full implementation of the National Broadband Plan.”

    Dambatta added that the commission organised the workshop to form a coalition of forces in a renewed strategic partnership with all players in the security sector to contain criminal assaults on telecommunications operations.

  • Mobile courts try over 5,000 offenders in nine months

    Over 5,000 offenders who ran foul of the Lagos State traffic, environmental and street trading laws have been tried by the Special Offences (Mobile) Court since the Mobile court in the past nine months.

    More than 85 per cent of the offenders were given non-custodial sentences; some were fined and others given community service. The remaining were  cautioned and allowed to go.

    Lagos Mobile Court Co-ordinator Mr Femi Alabi, in a chat with reporters on Friday, said the offenders were picked up by the task force.

    According to Alabi, the offence ranges from driving against traffic, parking on the kerb or highway, picking passengers on the highway, plying of unauthorised routes by motorcycles and trading in unauthorised places, among others.

    The areas where the offenders are mostly picked  up and tried are Ikeja, Ikoyi, Awolowo road, Lagos-Ikorodu road to Ikorodu and Egbeda.

    He said: “The courts which were launched in February this year are five in numbers presided over by five magistrates. They are meant essentially to decongest the roads in Lagos, to free Lagos of traffic gridlock and to equally ensure sanity of our environment.