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Nigeria has begun reviewing its 26-year-old telecommunications policy, proposing 15 major changes that could affect everything from mobile tariffs and internet competition to network quality and online safety for millions of subscribers. The review is expected to go live before the end of the year. At a policy review workshop in Lagos on Wednesday, the Nigerian Communications Commission (NCC) said the proposed National Telecommunications Policy 2026 is intended to address the everyday problems subscribers continue to face, including rising data costs, persistent network outages, weak connectivity, and growing exposure to online fraud and digital scams. Subscribers are facing worsening network disruptions as damage to telecom infrastructure continues across the country. Nigeria recorded 19,384 fibre-optic cable cuts in 2025, contributing to frequent service outages and unstable connectivity nationwide. The proposed reforms include restructuring telecom governance institutions, updating the Nigerian Communications Act, strengthening competition rules, promoting infrastructure sharing and national roaming, improving spectrum efficiency for 5G and future technologies, and introducing more transparent tariff regulation. The policy also seeks to integrate satellite broadband, support AI and IoT innovation, encourage local telecom manufacturing, and establish a Digital Innovation Fund for startups and research. The new framework places strong emphasis on consumer protection, affordability, and network reliability through measures focused on online safety, digital literacy, cybersecurity, and broader internet access. Telecom infrastructure, such as fibre-optic cables and towers, would receive stronger legal protection as Critical National Information Infrastructure (CNII), while a one-stop permitting system and harmonised Right of Way fees are expected to reduce multiple taxation and lower broadband deployment costs nationwide. The NCC has achieved only about 25% of its planned 2026 site upgrade targets, leaving the existing 4G infrastructure overstretched. With Nigerians consuming over 4 billion gigabytes of data in Q1 2026 alone, networks are increasingly experiencing congestion and speed throttling, particularly during peak usage periods. “When the National Telecommunications Policy 2000 was introduced, Nigeria’s telecommunications sector was at a very different stage of development,” NCC Executive Vice Chairman Aminu Maida said at the event. “The market has outgrown the assumptions of that period.” According to him, the sector has now entered what he described as “the era of advanced regulatory frontiers,” where regulators must contend with technologies such as artificial intelligence, 5G, satellite broadband, Internet of Things (IoT), cloud infrastructure, and critical national information infrastructure. “This is no longer a narrow telecommunications conversation,” Maida said. “Telecommunications is no longer just one sector within the economy; it is productivity infrastructure for the entire economy.” One of the most visible changes proposed in the review is a stronger focus on consumer protection and online safety. Unlike the 2000 policy, which largely focused on getting Nigerians connected, the revised framework introduces new directions around digital trust, cybersecurity, and the regulation of online platforms and services. For subscribers, this could translate into stronger measures against online scams, fraudulent digital platforms, harmful content, and other internet-related risks that currently operate with limited oversight. The policy review also comes as telecom operators grapple with worsening infrastructure and operational challenges that directly affect service quality. 5,934 fibre cuts were recorded in the first quarter of 2026 alone, vandalism, more than 50 taxes and levies imposed across the sector, persistent right-of-way bottlenecks, and rising energy costs, with diesel prices increasing from ₦1,770 to ₦1,850 per litre. “Fibre cuts, vandalism, high energy costs, multiple taxation, permitting delays, and persistent gaps between urban and rural connectivity are national development issues,” Maida said. As part of the proposed reforms, the NCC signalled plans to simplify infrastructure deployment through harmonised Right of Way (RoW) fees and streamlined permitting processes across federal, state, and local governments. Telecom operators have long argued that multiple taxation and inconsistent permitting systems significantly increase the cost of deploying fibre infrastructure, costs that are often passed on to subscribers through higher data and call prices. The revised framework also seeks to give stronger protection to telecom infrastructure designated as Critical National Information Infrastructure (CNII). For consumers, this could help reduce network blackouts caused by fibre cuts and vandalism, which continue to disrupt connectivity across the country. Another major shift is the move from simply providing “universal access” to ensuring what regulators describe as “meaningful connectivity.”. The policy review further introduces a stronger emphasis on digital literacy and inclusion, with regulators seeking to ensure that more Nigerians can effectively participate in the digital economy. This could lead to more government-backed digital training initiatives, smartphone affordability programmes, and targeted support for underserved communities. The NCC said the new framework would address the growing convergence between telecom networks and other sectors, including financial services, data protection, cloud infrastructure, and digital identity systems. Regulators are expected to work more closely with agencies such as the Nigerian Data Protection Commission (NDPC), the Central Bank of Nigeria (CBN), National Information Technology Development Agency (NITDA), the Federal Competition and Consumer Protection Commission (FCCPC), and state governments. “This new policy should not be too prescriptive on technology because technology changes so quickly,” Former NCC Executive Vice Chairman and current MTN Nigeria chairman, Ernest Ndukwe, said. “Good regulation is essential, but regulation must also remain adaptable.” The NCC said consultations on the proposed National Telecommunications Policy 2026 would continue as regulators seek to create a framework capable of supporting broadband expansion, AI infrastructure, consumer protection, cybersecurity, and long-term investment sustainability.
Read MoreSycamore, a Nigerian fintech, wants to build a deposit base that could exceed ₦40 billion ($29.13 million) as it expands from digital lending into banking and payments following its acquisition of a microfinance bank licence. The digital lender acquired the MFB licence through the acquisition of an undisclosed Kano-based microfinance bank. The company’s chief executive officer, Babatunde Akin-Moses, told TechCabal in an interview on Tuesday that deposit mobilisation would become one of its biggest priorities now that it can hold funds. “Deposit mobilisation is going to be very critical,” he said. The move reflects a broader shift among Nigerian fintechs that are increasingly acquiring microfinance banking licences to gain direct access to deposits and cheaper capital. In April, Flutterwave, the Nigerian fintech unicorn, secured an MFB licence after acquiring open banking startup Mono. In January, Paystack acquired Ladder Microfinance Bank, as fintechs try to convert payment users into banking customers. For Sycamore, the MFB acquisition marks a transition from operating primarily as a digital lender to becoming a broader regulated financial services group with three business lines: Sycamore Integrated Solutions Limited (SISL), its flagship lending business; Sycamore Investment and Asset Management Limited (SIML); and now, Sycamore Microfinance Bank. “So SISL will become Sycamore Capital Group (SCG), with an AUM of ₦60 billion ($43.69 million), to reflect the new structure of the business,” Akin-Moses said. The MFB licence also removes the company’s dependence on third-party banks for wallets and fund settlements while giving it direct access to payment rails and customer deposits. “We are already using third-party wallets today,” Akin-Moses said. “It is just that we do not control those wallets right now.” The acquisition will allow Sycamore to integrate directly with the Nigeria Inter-Bank Settlement System (NIBSS) Instant Payment platform to offer real-time transfers and traditional deposit account services to customers. More importantly, deposits could significantly reduce Sycamore’s cost of capital. The startup has historically relied on commercial papers and institutional debt to fund lending operations. Deposits, however, offer a much cheaper source of funding. “Every single sort of money that comes to the platform comes with a significant lender cost,” Akin-Moses said. “But now for deposits, we will be able to have those at cheaper costs.” According to him, the lower funding costs could eventually translate into cheaper loans for customers. “And the whole idea is that we should be able to eventually pass those cheaper costs on to our borrowers as we grow,” he said. The company is targeting between ₦40 billion ($29.13 million) and ₦50 billion ($36.41 million) in loans this year, according to Akin-Moses, who said Sycamore would need deposits that exceed that figure to support its lending ambitions. According to him, the company is targeting deposits that could eventually reach between 30% and 50% above projected loan disbursements. In 2025, Sycamore disbursed close to ₦20 billion ($14.56 million) in loans, according to Akin-Moses. This year, the company is aiming to at least double that figure as demand from businesses increases. Its average loan ticket size has also grown. While Sycamore previously issued average loans of around ₦10 million ($7,282), with a maximum limit of ₦20 million ($14,563), its average ticket size has now risen to between ₦30 million ($21,845) and ₦40 million ($29,126). The company has also increased its maximum loan size to ₦100 million ($72,815). “Apart from increased capacity of our balance sheets, which is part of why we raise money in commercial paper, the whole idea is that people need more,” Akin-Moses said. “Businesses need more.” The company’s expansion mirrors broader trends in Nigeria’s digital lending market. FairMoney Microfinance Bank said it disbursed more than ₦150 billion ($109.22 million) in loans in 2025. Moniepoint said it disbursed over ₦1 trillion ($728.15 million) in loans to small businesses during the same period. Sycamore currently serves more than 400,000 users across its lending, investment, and savings products and operates digitally in more than 22 Nigerian states. The company also maintains physical presence in Lagos, Abuja, Port Harcourt, Kano, and Ibadan. Akin-Moses said Sycamore believes its existing customer base gives it a starting point for deposit mobilisation. “This is also driven by customer demand,” he said, adding that some users wanted to use cash flows already existing within Sycamore’s ecosystem as collateral for loans. Northern Nigeria is also becoming an increasingly important part of the company’s growth strategy, which partly influenced its decision to acquire a Kano-based microfinance bank. According to Akin-Moses, many consumers in the region are still unfamiliar with digital investment and savings products that have become more mainstream in cities like Lagos. But unlike Lagos, where many fintechs scaled largely through digital distribution, Sycamore believes expansion in northern Nigeria will require physical operations, stronger local trust, and products adapted for more Islamic-compliant financial structures. “We are looking to modify some products to be more Islamic-compliant,” Akin-Moses said. “We do have a physical office in Kano to make that agenda a reality. We bought a Kano-based MFB because of the opportunity there.” Beyond Nigeria, the startup is exploring diaspora opportunities, particularly in the United Kingdom and Canada. It sees a lending opportunity in the UK and an investment one in Canada. “We see that as a potential opportunity to partner with some UK-based companies, even have some sort of UK presence,” he said. “Canada will be looking at it like the market for investments for diasporas.” The company says it is also open to future acquisitions as it expands into additional financial services, particularly cross-border products. “One of the trends we are seeing this year is acquisitions,” Akin-Moses said. “If there is some capability we are trying to build, we do not always have to build from scratch.” For now, however, Sycamore’s immediate challenge is convincing customers to trust a fintech lender with tens of billions of naira in deposits.
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When Paystack launched in 2016, it positioned itself as a cheaper and faster alternative to Nigeria’s existing online payment processors. Over the next decade, the Stripe-owned fintech layered on commerce tools and other financial workflows for businesses across multiple African markets. Much of that activity lived on the Paystack Dashboard, the product surface designed for merchants to monitor transactions, track revenue, manage customers, and perform payment operations. On Thursday, Paystack launched the first full rebuild of that Dashboard in 10 years, introducing a redesigned interface, simplified navigation structure, mobile parity, and an AI-powered Command Centre that lets merchants ask questions about their business activity. The redesign arrives at a moment when artificial intelligence (AI) is beginning to reshape how businesses interact with software. A PwC report found that 82% of African organisations are running AI pilots in their operations, and with the African market projected to reach $16.5 billion by 2030, companies are racing to integrate AI into business workflows. In with the new Internally called Canvas, the centre of the redesign is an AI-native Command Centre, a conversational interface built directly into the Dashboard that uses a merchant’s own transaction and operational data to answer questions about their business activity. Rather than navigating different pages to piece together information, the AI interface allows merchants to ask questions and receive responses as text, tables, or charts, according to the company. Because the system handles sensitive financial information, Paystack said parts of the rebuild focused on reliability and accuracy. The company said every response generated by the Command Centre is grounded in actual merchant data rather than generic model outputs, using what it described as a deterministic harness designed to reduce hallucinations and keep responses tied to verified operational records. The company noted that it also introduced automated evaluation systems that continuously test the quality of responses against predefined baselines and designed the system in a way that every request that goes through the Command Centre is evaluated against safety and compliance criteria before a response is generated. “We built a simple framework for how the system handles different kinds of requests, Dara Assim-Ita, the senior product designer who led the rebuild, said. “Valid requests within the system’s capability get fulfilled. Valid requests outside the system’s capability are declined with suggested alternatives, so merchants know what else might help. Harmful requests are refused entirely.” According to the company, the system is powered by a combination of GPT models, structured data retrieval, and an internal orchestration layer called Project Canvas API, which connects the interface to Paystack’s existing infrastructure. Paystack’s new dashboard. Image source: Paystack Another major part of the rebuild was navigation, which Paystack described as the most visible change in the new Dashboard. Over the past decade, the Dashboard has expanded to accommodate Paystack’s growing list of products and workflows. In 2016, Paystack introduced Payment Pages, which allowed merchants to duplicate a live Payment Page and then modify it. In 2019, it introduced User Permissions, which allowed merchants to invite different members of their team to their Paystack Dashboard, and Audit Logs, which gave merchants full visibility into what their teammates were doing on their Dashboard. Research conducted during the redesign showed that merchants understood what they wanted to do, but often struggled to predict where those functions existed inside the product. To solve this, Paystack reorganised the product into two primary sections: Payments and Products. Payments now houses operational workflows such as transactions, customers, refunds, disputes, and settlements, while Products serves as the home for newer modular offerings like transaction splits and future services the company plans to add over time. The last of the Dashboard’s latest design is full parity between mobile and web, meaning that every feature and screen available on desktop can also be accessed on mobile devices. Out with the old Assim-Ita told TechCabal that the redesign was partly a response to changing merchant behaviour and a reflection of Paystack’s growth over the past decade. “As we layered in more capabilities, the structure of the Dashboard began to reflect how the product had evolved, rather than how merchants think about their work,” she said. “Navigation expanded, paths multiplied, and what was once straightforward took more effort to move through. We’d seen these patterns over time, both in how the product evolved and in what merchants told us. Eventually, it became clear this wasn’t something we could fix with small improvements.” According to Assim-Ita, internal research showed that merchants arrived at the Dashboard with specific operational questions, such as why revenue dipped during a particular week, which customers were driving growth, or what caused a dispute, but often had to navigate multiple pages or interpret results themselves before finding answers. Paystack’s old dashboard. Image source: Paystack According to Paystack, its research also showed that merchants who originally used the Dashboard from desktops had begun running some parts of their operations from smartphones, even though the original product was not designed with mobile-first usage in mind. The rebuild began as something smaller. Paystack said it initially intended to give the Dashboard a visual refresh before deciding that a more fundamental redesign was necessary. The company noted that research and design for the project ran from November 2025 to early January 2026, while engineering development lasted from mid-January to mid-April 2026. Paystack said the redesign took roughly five months from the first design decision to launch. Across industries, companies are layering conversational AI into existing software products and workflows rather than launching standalone AI tools. Financial institutions such as TymeBank and LemFi have explored AI-powered assistance in financial service workflows. Paystack is taking a similar approach with its Dashboard. The company said the current release focuses on core payment workflows, with more of Paystack’s products expected to migrate to the new architecture over time. “This Dashboard is just the foundation,” Assim-Ita said. “We think the companies that win in this next era of fintech will be the ones who treat AI not as a feature, but as
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