Nigeria targets satellite-to-mobile services

A new tax technology pact promising AI-powered audits and smarter compliance has sparked controversy in Nigeria, with critics warning that even sharing aggregated data with France could expose sensitive economic intelligence and erode fiscal sovereignty.

The project intends to protect nearly two million people and 15 million public records in Nigeria, Kenya, Ghana, and South Africa.

Authorities say the widespread use of unregistered PoS terminals violates the Companies and Allied Matters Act 2020 and the Central Bank of Nigeria’s regulations.

The initiative aims to address credit availability, payment systems, and market reach issues through digital tools.

The all-in-one inventory and POS solution is aimed at the SME market and the firm hopes that it will provide SME customers with the power to make data-driven decisions.

The Federal Executive Council approved the construction of 4,000 telecom towers across Nigeria to boost digital connectivity, particularly in underserved areas.

The Central Bank's recent overhaul of its monetary corridor has caused fixed-income returns to plummet, pushing millions of digitally savvy Nigerians to seek tech-accelerated savings and investment options.

Failure to build sufficient AI infrastructure will risk Africa falling behind, and consuming others’ innovations.

The fintech said the license supports its efforts to establish a compliant, secure, and trustworthy platform for its users.

The Association of Digital Payment and POS operators of Nigeria said fraud across digital channels rose from $12.1 million in 2023 to $35.9 million in 2024, with POS platforms accounting for a significant share.

The initiative is expected to form the backbone of a long-term talent pipeline required to grow a sustainable automotive ecosystem across African markets.

Africa’s financial payments giant has fired its co-founder and CTO after sexually explicit old tweets and misconduct allegations resurfaced.