Business

Fresh Winners of Ovation Palliatives Emerge, Cart Away N1.070m

Published

5 years ago

May 13, 2021

Eric

By Eric Elezuo

Another batch of winners of the Ovation Palliatives, a charity efforts of Ovation Media Group, has emerged.

In a statement issued by the organisation’s Chairman, Chief Dele Momodu, this batch, which consisted of 214 lucky Nigerians carted away a combined sum of One Million and Seventy Thousand Naira (N1, 070, 000.00) at N5,000 each.

“The Ovation Palliatives has come to stay, and in our own little way, we will continue to reach out to vulnerable Nigerians, especially at this time in the life of our country,” Chief Momodu said.

Momodu also paid glowing tributes to so many people that have contributed to the charity purse, and continue to contribute.

“With great joy, I appreciate our donors, and pray that the Almighty God continue to bless and provide for them,” he added.

Below is a complete list of the beneficiaries:

Bank Sort Code Bank Name Branch Account No. Amount
NIP011 FIRST BANK NIGERIA LIMITED Angela Oniovosa katako branch 3160168186 5000
NIP011 FIRST BANK NIGERIA LIMITED Ayebanengiyefa Micah Yenagoa 3156428993 5000
NIP011 FIRST BANK NIGERIA LIMITED Zainab Garba Maiduguri 3171155388 5000
NIP011 FIRST BANK NIGERIA LIMITED Fatima Fatima First bank 3147731873 5000
NIP011 FIRST BANK NIGERIA LIMITED Godwin Abah Emure -Ekiti 3081679970 5000
NIP011 FIRST BANK NIGERIA LIMITED Uloko Nelson Otukpo 3109687440 5000
NIP011 FIRST BANK NIGERIA LIMITED Ibrahim Usman Ashaka 3167320637 5000
NIP011 FIRST BANK NIGERIA LIMITED Wankin Moses Katsina-ala 20000 5000
NIP011 FIRST BANK NIGERIA LIMITED Isma’il Auta Unijos branch 3130841705 5000
NIP011 FIRST BANK NIGERIA LIMITED IDOKO UKAMAKA bida 3031739516 5000
NIP011 FIRST BANK NIGERIA LIMITED Susan Orim Calabar road branch 3112398649 5000
NIP011 FIRST BANK NIGERIA LIMITED Salamatu yakubu Maiduguri 3121966320 5000
NIP011 FIRST BANK NIGERIA LIMITED Sharifat Aliyu Kaduna north 3064992469 5000
NIP011 FIRST BANK NIGERIA LIMITED Sylvester Mbah Nsukka 3069501486 5000
NIP011 FIRST BANK NIGERIA LIMITED ATSA ABANTELE Emene industrial layout 2015005283 5000
NIP011 FIRST BANK NIGERIA LIMITED Bosede Ayeni Bello Road Branch Kano 3020349201 5000
NIP011 FIRST BANK NIGERIA LIMITED Folorunso Samson Kogi state 3029159937 5000
NIP011 FIRST BANK NIGERIA LIMITED Isu Abani Ugep branch 3070828152 5000
NIP011 FIRST BANK NIGERIA LIMITED Oluwatobi Mary Ikare akoko 3113762872 5000
NIP011 FIRST BANK NIGERIA LIMITED Abidemi Asepitan Egbeda 3048439630 5000
NIP011 FIRST BANK NIGERIA LIMITED Obasi Ikenna Yenagoa 3035139176 5000
NIP011 FIRST BANK NIGERIA LIMITED ugochukwu Ometa Ezzangbo 3031663842 5000
NIP011 FIRST BANK NIGERIA LIMITED Evelyn Ekele Can’t remember 3085866134 5000
NIP011 FIRST BANK NIGERIA LIMITED Ejovwoke Etu Enerhen 3103452752 5000
NIP011 FIRST BANK NIGERIA LIMITED Deborah Robert Calabar 3134822658 5000
NIP011 FIRST BANK NIGERIA LIMITED Christiana Orok Ykc Woji 50 000.00 5000
NIP011 FIRST BANK NIGERIA LIMITED NURA GARBA SOKOTO MAIN BRANCH 3116801413 5000
NIP011 FIRST BANK NIGERIA LIMITED Chimezie Blessing Nsukka branch 3096066127 5000
NIP011 FIRST BANK NIGERIA LIMITED Adaeze Emmanuel Abonta Shippers plaza 1000000 5000
NIP011 FIRST BANK NIGERIA LIMITED Rabiu BALA Numan 3126352668 5000
NIP011 FIRST BANK NIGERIA LIMITED Zakariyya Adamu Zaria 3080706282 5000
NIP011 FIRST BANK NIGERIA LIMITED Ann Onah Ankpa 30 88-67 1313 5000
NIP011 FIRST BANK NIGERIA LIMITED Auwal Idriss first bank 3162734732 5000
NIP011 FIRST BANK NIGERIA LIMITED Amuda Abiola Bowen branch Iwo 3106813008 5000
NIP011 FIRST BANK NIGERIA LIMITED Ayodeji Arogunjo Owo branch 3037498851 5000
NIP011 FIRST BANK NIGERIA LIMITED Rita Arelogie Port Harcourt 3036394138 5000
NIP011 FIRST BANK NIGERIA LIMITED Anietie Essien Akwa ibom 3069872883 5000
NIP011 FIRST BANK NIGERIA LIMITED Simisola oshibanjo Ijebu ode 3078709086 5000
NIP011 FIRST BANK NIGERIA LIMITED Yunusa Adamu Jalingo 3135799409 5000
NIP011 FIRST BANK NIGERIA LIMITED Mcrichard Ebuka Ikotun 2 3095857052 5000
NIP011 FIRST BANK NIGERIA LIMITED kaltume waziri first bank 3148984896 5000
NIP011 FIRST BANK NIGERIA LIMITED Emmanuel Udenwa Portharcourt 3132013760 5000
NIP011 FIRST BANK NIGERIA LIMITED Onyinye Uduji Nyanya 3153704597 5000
NIP011 FIRST BANK NIGERIA LIMITED Yusuf Olajumoke Akute 3096558442 5000
NIP011 FIRST BANK NIGERIA LIMITED Abdulbasi Muktar Anuja 3133638403 5000
NIP011 FIRST BANK NIGERIA LIMITED Hauwa Muhammed Ashakacem Branch 3172110320 5000
NIP032 Union Bank of Nigeria Plc Abdulrazaq Kabir Terminus Ahmadu bello way 2103472869 5000
NIP032 Union Bank of Nigeria Plc Sadiya Sadiya1 Gusau ‘0088718793 5000
NIP032 Union Bank of Nigeria Plc Odikanuom Callistus Orlu ‘0028357202 5000
NIP032 Union Bank of Nigeria Plc Hauwa Abdullahi Gombe ‘0099465493 5000
NIP032 Union Bank of Nigeria Plc Joseph Samuel Birnin kebbi ‘0151085250 5000
NIP032 Union Bank of Nigeria Plc Doris Ali Lokoja ‘0024565447 5000
NIP032 Union Bank of Nigeria Plc Nabila Ibrahim Main branch bauchi ‘0120004431 5000
NIP032 Union Bank of Nigeria Plc Ogah Mosws Oju ‘0135323161 5000
NIP033 United Bank For Africa Plc Adam Maryam Jalingo Maral computer 5000
NIP033 United Bank For Africa Plc Nonso Chiemeka James Asokoro 2134306461 5000
NIP033 United Bank For Africa Plc Emmanuel Akpan Uyo 2148166785 5000
NIP033 United Bank For Africa Plc Nazifi Sulaiman Bauchi 2183750897 5000
NIP033 United Bank For Africa Plc Amina Idris Bauchi 2090150940 5000
NIP033 United Bank For Africa Plc Taofeeq Akinyemi oyan market square 2115137961 5000
NIP033 United Bank For Africa Plc Iveren Chia Gboko 2054518713 5000
NIP033 United Bank For Africa Plc Opaluws halimat idah 2115547836 5000
NIP033 United Bank For Africa Plc Tijjani Sanusi Taraba wukari 2137006401 5000
NIP033 United Bank For Africa Plc Isaac Victor Gusau 20000 5000
NIP033 United Bank For Africa Plc Fahad Laula Maiduguri Baga Road 2087154971 5000
NIP033 United Bank For Africa Plc Onah Ene Makurdi 2082351995 5000
NIP033 United Bank For Africa Plc Aliyu Salihu Bauchi 2140090871 5000
NIP033 United Bank For Africa Plc MBAKUHAN TYOHEMBA makurdi 2085001442 5000
NIP033 United Bank For Africa Plc Modu Ladan Maiduguri 1013790535 5000
NIP033 United Bank For Africa Plc Babajide Kayode Ilorin 2182136625 5000
NIP033 United Bank For Africa Plc Amara Okoye UNEC branch 2112405074 5000
NIP033 United Bank For Africa Plc Davies Clifford Adamawa 2157218756 5000
NIP033 United Bank For Africa Plc Jamila Ibrahim Jalingo 2164543159 5000
NIP033 United Bank For Africa Plc Desmond Okpara funtua 2007141922 5000
NIP033 United Bank For Africa Plc Godfrey Michael Aliyu jodi brance 2148245938 5000
NIP033 United Bank For Africa Plc Hannah Ituma Abakaliki 2180616718 5000
NIP033 United Bank For Africa Plc Ibrahim Fatimo Ilaro FPI 2059801412 5000
NIP033 United Bank For Africa Plc Sufiyanu Sani Argungu 50000 5000
NIP033 United Bank For Africa Plc Folasade Adesiyan Dockyard 1003034791 5000
NIP035 Wema Bank Plc jemilat muhammed kishi branch ‘0246173883 5000
NIP035 Wema Bank Plc Adeyinka Alex Ikare ‘0229551705 5000
NIP035 Wema Bank Plc NAFISAT LAWAL Ayetoro ‘0220320557 5000
NIP035 Wema Bank Plc Adedayo Adeojo Ado-Ekiti ‘0230583601 5000
NIP035 Wema Bank Plc Eme Inyang Calabar ‘0243219160 5000
NIP035 Wema Bank Plc Ojerinde Abiola Igboho ‘0230566983 5000
NIP044 Access Bank Adesina Emmanuel Maryland 50000 5000
NIP044 Access Bank Shakiru Ayoola Osogbo ‘0012800490 5000
NIP044 Access Bank Rashida Dandibi Koton karfe 1396548000 5000
NIP044 Access Bank Oluwaseun Adigun Ilorin ‘0009141017 5000
NIP044 Access Bank AWODEYI MARY Keffi 1381830736 5000
NIP044 Access Bank Noah Adams Beach road ‘0800891352 5000
NIP044 Access Bank Peace Anthony Ife Branch ‘0813433790 5000
NIP044 Access Bank Azeez Adewale Ondo ‘0692054541 5000
NIP044 Access Bank Godfrey Asadu Orba Road Nsukka ‘0019375057 5000
NIP044 Access Bank Isi obanoke Sapele okpe road ‘0818768604 5000
NIP044 Access Bank Nkechi Anosike Aba ‘0064494325 5000
NIP044 Access Bank Ibrahim Hammanjoda Adamawa state ‘0097000032 5000
NIP044 Access Bank Atim Asanaenyi Uyo ‘0814132193 5000
NIP044 Access Bank Clems Chidi Port Harcourt ‘0784456042 5000
NIP044 Access Bank Tosin Afolabi New Gbagi Ibadan ‘0087440334 5000
NIP044 Access Bank Farida Musa Maiduguri ‘0719851849 5000
NIP044 Access Bank Grace Ajayi Ahmadu bello jos ‘0071803983 5000
NIP044 Access Bank Yau Zainab Gombe 1402131217 5000
NIP044 Access Bank Idris Umar Access bank maiduguri ‘0808373456 5000
NIP044 Access Bank Peace Egbuna Gusau Road ‘0726944433 5000
NIP044 Access Bank Israel Osogbue Ikotun Lagos ‘0095399150 5000
NIP044 Access Bank Onome Akpoyomare Fct 1408465808 5000
NIP044 Access Bank Timilehin Abe Bodija @tim_rolex 5000
NIP044 Access Bank Aliyu Adamu Malumfashi 1374283556 5000
NIP044 Access Bank abubakar abdulmumin damaturu ‘0099730461 5000
NIP044 Access Bank Ruth Okere Idimu ‘0055222781 5000
NIP044 Access Bank ABDULLAHI DANGUDIDI BAUCHI ‘0024827204 5000
NIP044 Access Bank Musa Hauwa Deba 1.40787E+11 5000
NIP044 Access Bank Martha Dauda Gombe branch 5000 5000
NIP044 Access Bank Ogene Philip Ogene ugochukwu Philip ‘0054198011 5000
NIP044 Access Bank Treasure Okubo Ughille ‘0805962129 5000
NIP050 Ecobank Nigeria Plc Terry Hannah Wuse Abuja 2203007232 5000
NIP050 Ecobank Nigeria Plc Nafisa Rabiu Ali akilu road kaduna 3060018221 5000
NIP057 Zenith Bank Plc Fatima Gambo Azare 2214479072 5000
NIP057 Zenith Bank Plc Favour Sanyaolu Mokola 2210759206 5000
NIP057 Zenith Bank Plc Abiola Oluwasanumi Osogbo 2264085232 5000
NIP057 Zenith Bank Plc Muhammad Abdullahi GUSAU 2261961652 5000
NIP057 Zenith Bank Plc Yusuff Rasheed Saki 2087924947 5000
NIP057 Zenith Bank Plc David Miaza Nnebissi 2189425977 5000
NIP057 Zenith Bank Plc Stephen Kalu Aba road 2285198344 5000
NIP057 Zenith Bank Plc Bello shu’ibu Kano road sokoto state 2367376383 5000
NIP057 Zenith Bank Plc Suleiman Abdullahi Bauchi 2361852865 5000
NIP057 Zenith Bank Plc Umar Hussaini Zenith bank branch 3 Monday market 2281778728 5000
NIP057 Zenith Bank Plc Rose Adamma Abakaliki 2253003393 5000
NIP057 Zenith Bank Plc Zara Tijjani Maiduguri 2214174676 5000
NIP057 Zenith Bank Plc Ajumoke Lawrence Jos 2111522905 5000
NIP057 Zenith Bank Plc Eyayo Lucky Yenagoa 2082016382 5000
NIP057 Zenith Bank Plc Nuraddeen Ibrahim Katsina branch 2216699368 5000
NIP057 Zenith Bank Plc Kehinde Yetunde Unity road 2256287459 5000
NIP057 Zenith Bank Plc Faith Taiwo Area 8 2118693109 5000
NIP057 Zenith Bank Plc Akachukwu Ifeanyi Tradefair 200000 5000
NIP057 Zenith Bank Plc Temple Chinedu Abuja 2121850472 5000
NIP057 Zenith Bank Plc Abosede OLAGOKE Abule egba 1002588789 5000
NIP057 Zenith Bank Plc Sandra Emmanuel Gudu district 5000 5000
NIP057 Zenith Bank Plc Nduka Nwosu Yola Adamawa state 2378269405 5000
NIP057 Zenith Bank Plc Jacob Monday Dei-Dei Abija 2190605911 5000
NIP057 Zenith Bank Plc Emmanuel Ojegade Akure 2211983947 5000
NIP058 Guaranty Trust Bank Plc Muhammad Idris Gusau ‘0428364002 5000
NIP058 Guaranty Trust Bank Plc Folasade Akinjo Ilorin kwara State ‘0035513907 5000
NIP058 Guaranty Trust Bank Plc Abayomi Ajagbe Utako ‘0284477458 5000
NIP058 Guaranty Trust Bank Plc Victoria Ogunbiyi Anthony ‘0250830416 5000
NIP058 Guaranty Trust Bank Plc Temitope Ogunbode Lagos road ‘0015078125 5000
NIP058 Guaranty Trust Bank Plc Blessing Abah Area 3 Abuja ‘0491069242 5000
NIP058 Guaranty Trust Bank Plc Oshama Obogor Calabar ‘0040515491 5000
NIP058 Guaranty Trust Bank Plc Michael Essien Gwarinpa by Chambian plaza. 6th Avenue ‘0459774078 5000
NIP058 Guaranty Trust Bank Plc Umma Ibrahim Maiduguri ‘0615298532 5000
NIP058 Guaranty Trust Bank Plc Rahina Abubakar Yola ‘0265418322 5000
NIP058 Guaranty Trust Bank Plc Ebinimi Gbeinzi Yenagoa ‘0052899550 5000
NIP058 Guaranty Trust Bank Plc Husaina Musa Bauchi ‘0259464030 5000
NIP058 Guaranty Trust Bank Plc Balkisu Bala Bauchi ‘0593066712 5000
NIP058 Guaranty Trust Bank Plc Fatima Adamu Main branch bauchi ‘0452285236 5000
NIP058 Guaranty Trust Bank Plc Gabriella Uzoma Wuse Abuja ‘0344673884 5000
NIP058 Guaranty Trust Bank Plc Samuel Udo Abak Road ‘0428673740 5000
NIP058 Guaranty Trust Bank Plc Chikanma Orji Umuahia ‘0162871811 5000
NIP058 Guaranty Trust Bank Plc Muktar Hammanjoda Gt Bank AUN Branch 4000000 5000
NIP058 Guaranty Trust Bank Plc Ya’u Ahmad Gombe ‘0232168742 5000
NIP058 Guaranty Trust Bank Plc Lomem Kenos Yola ‘0508176116 5000
NIP058 Guaranty Trust Bank Plc Abdullahi Umar Jalingo ‘0620505027 5000
NIP058 Guaranty Trust Bank Plc Abubakar Mainasara Birnin kebbi 22412263721 5000
NIP058 Guaranty Trust Bank Plc Ogunka ida Rumuokoro ‘0113136888 5000
NIP058 Guaranty Trust Bank Plc Abdulganiyu Jejelola Ilorin #30000 5000
NIP058 Guaranty Trust Bank Plc GLORY VICTOR MGBUOBA TOWN RIVERS STATE ‘0424035850 5000
NIP058 Guaranty Trust Bank Plc Emeh Blessing Yenagoa ‘0042366460 5000
NIP058 Guaranty Trust Bank Plc Rabiu Abubakar Jalingo ‘0613283952 5000
NIP058 Guaranty Trust Bank Plc Halima Kofi Jalingo ‘0466372597 5000
NIP058 Guaranty Trust Bank Plc OGUNDELE SEYIFUNMI Unity ‘0282902235 5000
NIP058 Guaranty Trust Bank Plc Abdulganiyu Dare Taiwo ‘0034765307 5000
NIP058 Guaranty Trust Bank Plc Ladi Goteng Bert ‘0115555049 5000
NIP058 Guaranty Trust Bank Plc Levi Stephen Murtala Mohammed Square Kaduna branch ‘0157966913 5000
NIP058 Guaranty Trust Bank Plc Abduls Idris Ahmadu bello way plateau state ‘0173530165 5000
NIP058 Guaranty Trust Bank Plc Oluwatosin Adebayo Akure ‘0472021818 5000
NIP070 Fidelity Bank Plc Smart Julius Yenagoa ‘0026678785 5000
NIP070 Fidelity Bank Plc Izuchukwu Obi Utako market 5000 5000
NIP070 Fidelity Bank Plc Abomubo-oso Odidi Port Harcourt 6170581474 5000
NIP070 Fidelity Bank Plc Jessica Monko Calabar 6233502024 5000
NIP070 Fidelity Bank Plc Fatima Kyari Maiduguri 6173097338 5000
NIP070 Fidelity Bank Plc Ndive Chiamaka Gusau road 6234225852 5000
NIP070 Fidelity Bank Plc Josephine Habu Kaduna South 6321824834 5000
NIP070 Fidelity Bank Plc Ndukwe Uka Afikpo 6232244934 5000
NIP070 Fidelity Bank Plc Chibuike Chukwu Agbani road Enugu. 6236984625 5000
NIP076 Polaris Bank Basirat Abideen Birnin kebbi 3048033545 5000
NIP076 Polaris Bank Oladayo Ojo Ile ife 3021542899 5000
NIP076 Polaris Bank Esther Adeleye Sapon Branch 1130628277 5000
NIP076 Polaris Bank Peter Ibikunle Saki branch 3031157944 5000
NIP076 Polaris Bank Kwaghaondo Aondowase Lugbe Abuja 3025245617 5000
NIP082 Key Stone Bank Auwalu Shehu Azare 6020354570 5000
NIP082 Key Stone Bank Hussainah Yahaya Gombe 6030675261 5000
NIP214 First City Monument Bank Plc Halima Abubakar Ashaka 4834443014 5000
NIP214 First City Monument Bank Plc Amina Muhammad Bauchi 7146134016 5000
NIP214 First City Monument Bank Plc Zainab Muhammed Kuje 2208805015 5000
NIP214 First City Monument Bank Plc Aisha Aremu Bauchi 4772957015 5000
NIP214 First City Monument Bank Plc Chigozie Iheonunekwu faulks 6501712018 5000
NIP214 First City Monument Bank Plc AMINA KAFAKE Damaturu 4277388015 5000
NIP214 First City Monument Bank Plc Comfort Ulu Calabar 1184417014 5000
NIP214 First City Monument Bank Plc Kabiru Abdulkarim Jalingo 7005539015 5000
NIP214 First City Monument Bank Plc Rapheal Ochai Ovom Yenagoa 1826743019 5000
NIP214 First City Monument Bank Plc Happpy Graba Bauchi 3929942016 5000
NIP214 First City Monument Bank Plc Chawali Pisagih Bauchi 1113036013 5000
NIP214 First City Monument Bank Plc Abdullahi Umar Birnin kebbi 2118491070 5000
NIP215 Unity Bank Plc Aisha Umar Katsina ‘0032041916 5000
NIP221 Stanbic IBTC Bank Ltd. Chidinma Kalu Elelenwo PH ‘0015914881 5000
NIP221 Stanbic IBTC Bank Ltd. Muhammad Shuaibu Bauchi ‘0026496581 5000
NIP221 Stanbic IBTC Bank Ltd. Thomas Tsokaa Gerie ‘0033212697 5000
NIP221 Stanbic IBTC Bank Ltd. Chahandi Charles Yola ‘0021150941 5000
NIP221 Stanbic IBTC Bank Ltd. Ngozi Iwuoha Okota road ‘0025425832 5000
NIP221 Stanbic IBTC Bank Ltd. Abubakar Sani Gusau ‘0015774832 5000
NIP232 Sterling Bank Plc Sumayya Mohamed Gusau ‘0070414965 5000
NIP232 Sterling Bank Plc Olaibo Owolabi Ogijo ‘0029447890 5000
NIP232 Sterling Bank Plc MARIAM SUNDAY Bauchi ‘0026657603 5000
Total 1070000

Business

Jim Ovia Retires As Zenith Bank Chairman, Mustafa Bello Takes Over

Published

2 days ago

May 5, 2026

Eric

Zenith Bank Plc has announced the retirement of its Founder and Group Chairman, Jim Ovia, following the expiration of his tenure in line with regulatory requirements.

The bank disclosed this in a corporate notice issued in Lagos on May 5, 2026.

Ovia completed the mandatory 12-year tenure permitted under corporate governance guidelines for financial holding companies, non-interest banks, and payment service banks in Nigeria.

As the founder of Zenith Bank, he has been a central figure in its growth trajectory and was credited by the Board for providing strong leadership, strategic direction, and effective oversight throughout his time as chairman.

The Board noted that his commitment to governance standards and stakeholder value creation significantly enhanced the Group’s positioning and reputation in the financial services sector.

Until he was appointed Chairman, Engr. Mustafa Bello was a non-executive director in the bank.

Engr. Mustafa Bello graduated with B.Engr. (Civil Engineering), from the Ahmadu Bello University (ABU), Zaria, in 1978 with Second Class Upper Division, and won the Shell prize for best project and thesis for Faculty of Engineering in 1978.

He served in the Directorate of Quartering and Engineering Service (Nigerian Army) between 1978 and 1979. He later joined the Niger State Housing Corporation between 1980 and 1983 as a Senior Civil Engineer.

He served as a cabinet Minister of the Federal Republic of Nigeria as the Federal Minister of Commerce between 1999 and 2002. He was subsequently appointed Executive Secretary/Chief Executive Officer of the Nigerian Investments Promotion Commission (NIPC) between November 2003 and February 2014.

He is currently the Chairman of Invest-in-Northern Nig. Limited, a special purpose vehicle for the economic and social transformation of the Northern Nigerian Economy.

He has been involved in several projects in Nigeria, including the CAC online project in 2002, developing a WTO-consistent Trade Policy for the Federal Republic of Nigeria, etc.

He has attended several conferences, missions, and meetings and represented the Federal Government of Nigeria.

Channels Television

Business

Why MTN, Airtel Suspended Airtime, Data Borrowing Services + the FCCPC Connection

Published

3 weeks ago

April 19, 2026

Eric

Nigeria’s largest telecom operators are temporarily suspending airtime and data loan services, a once-sticky feature for prepaid users, as new consumer lending rules force them into full regulatory compliance.

On Thursday, MTN Nigeria, the country’s largest telco, temporarily suspended its airtime and data lending product, Xtratime, and Airtel Nigeria, the second-largest provider, followed suit on Friday, citing the need to align with “evolving requirements.” Both companies say customers can still purchase airtime and bundles through standard channels.

“MTN Nigeria Communications PLC (MTN Nigeria or the Company) hereby notifies the Nigerian Exchange Limited and the investing public that the Company has temporarily suspended its airtime and data credit advance service (“Xtratime”),” the telco said in its filing. “This relates to the implementation of processes under the Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations, 2025, which introduced a new compliance and licencing framework for entities providing digital or non-traditional consumer credit services.”

Nigerian telecom providers are reviewing their digital lending services to consumers following new rules by the Federal Competition and Consumer Protection Commission (FCCPC), passed in July 2025. Those guidelines apply to any entity involved in the provision, facilitation, or administration of digital or non-traditional consumer lending, bringing airtime and data advances into scope and requiring operators to obtain licences and meet the compliance requirements before continuing the services.

“Airtel Nigeria remains committed to the highest standards of compliance, transparency, and consumer protection, while continuing to innovate responsibly within Nigeria’s digital ecosystem,” said Ismail Adeshina, the company’s director of marketing, in the statement released Friday.

However, in a statement issued on Friday, the FCCPC pushed back against claims that it ordered the suspension of airtime lending services, stating that it “has not prohibited airtime borrowing or data advance services, and no directive was issued preventing consumers from accessing lawful telecom value-added services.”

The regulator framed the disruptions as a consequence of operators’ failure to comply with existing rules within the stipulated timelines.

The FCCPC’s Digital, Electronic, Online, or Non-Traditional Consumer Lending (DEONCL) Regulations and Guidelines apply to entities involved in digital consumer lending, including services tied to repayable monetary value. Products, such as MTN’s Xtratime, fall within the scope of the framework.

The FCCPC said the rules were introduced following “a deluge of consumer complaints” involving opaque charges, unexplained deductions, aggressive recovery practices, and poor disclosure standards across digital lending services.

According to the consumer protection watchdog, affected digital lending operators, including telcos, were initially given a 90-day compliance window in 2025, later extended to January 5, 2026, yet relevant operators failed to meet the necessary compliance steps.

“In the telecom sector, our findings indicated that some operators engaged in exclusionary third-party technical arrangements in clear disobedience to the provisions of the Federal Competition and Consumer Protection Act, 2018. The Regulations sought to unlock the market to allow local participants alongside foreign partners, in line with free market principles. These measures benefit Nigerians by reducing abusive practices, improving transparency, strengthening consumer choice, and encouraging responsible innovation by legitimate operators,” the regulator said on Friday.

Any temporary suspension, restriction, or operational change introduced by service providers, including telcos, should therefore be understood as a business or compliance decision by those operators, not a ban imposed by the FCCPC, the statement read.

Securing approval under the framework requires service providers to apply to the FCCPC, submit corporate and ownership documents, and disclose their lending models, including interest rates, charges, and default fees. Applicants must also declare all digital lending applications and interfaces used to issue credit, and provide evidence that these systems meet data protection and security standards under Nigerian law.

The rules further require formal consumer lending or service-level agreements (SLAs) for any partnerships with banks or fintechs. The FCCPC charges approval and renewal fees under the regulations, including an additional ₦500,000 ($372) for each lending application beyond the initial five permitted under a single approval.

While it is usually not reported separately, airtime lending contributes a sizable amount to telcos’ revenue.

In 2025, MTN Nigeria’s fintech revenue reached ₦191.3 billion ($142.5 million), growing by 80% from the previous year. About ₦10.9 billion ($8.1 million) accounted for its core fintech revenue, while the rest significantly came from airtime lending and other value-added services.

In Airtel’s case, the telco reports airtime credit service under its mobile services revenue segment, and according to how it defined this product in its 2025 financial year, it treats airtime credit as a value‑added service (VAS) classified as a mobile services product rather than a mobile money product.

In the nine months to December 2025, Airtel Nigeria’s mobile services revenue grew by 50% to $1.12 billion from $738 million year‑on‑year in constant‑currency terms. Data brought in $576 million; voice contributed $432 million, and “other” revenue—the bucket where airtime and data credit earnings sit—reported $113 million, up by about 44% from the previous year.

By comparison, Airtel Nigeria’s mobile money product, SmartCash, earned only $6 million over the same period, underscoring how small its fintech line still is relative to core mobile services income.

Airtime and data lending are high-margin businesses for telcos, since they keep the interest on advances, while incurring little to no procurement costs. Airtime credit is also critical for Nigeria’s credit-starved market, where increased telecom tariffs have pushed up the cost of staying online.

Other telecom operators operating in Nigeria, including Globacom and T2, are yet to announce similar moves. Both MTN Nigeria and Airtel Nigeria said the suspension is temporary and that the services will resume once they meet the requirements.

Source: Tech Cabal

Business

Fuel Importation Ban: Dangote Tackles NMDPRA over Continuous Issuance of Import Licences

Published

2 months ago

March 14, 2026

Eric

President of Dangote Industries Limited, Aliko Dangote, has raised concerns that Nigeria’s downstream regulator, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), is still issuing licences for petrol importation despite public assurances to the contrary, warning that the practice could undermine the operations of his refinery and threaten the country’s energy security.

Speaking in an exclusive interview with THISDAY, Dangote said the continued importation of refined petroleum products into Nigeria was hurting the Dangote Petroleum Refinery, which he insisted has the capacity to meet the country’s fuel demand.

“They are still issuing licences despite that we can meet the demand. They are still killing us with importation. They are importing and we are exporting. Yes, we can do 75 million litres, but they are still back-loading,” Dangote said.

According to the billionaire businessman, the refinery can produce up to 75 million litres of petrol daily, but some market participants are still bringing imported products into the country, a development he said could distort the domestic fuel market.

Dangote said the persistence of import licences contradicts earlier assurances by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) that fuel imports would be restricted once domestic refining capacity improved.

His comments came against the backdrop of a statement by the NMDPRA indicating that it had stopped issuing new licences for petrol importation because domestic refining was now meeting a significant portion of Nigeria’s demand.

The regulator said the decision aligns with provisions of the Petroleum Industry Act, which allows import licences to be issued only when local production cannot meet national consumption needs.

According to the agency, no new petrol import licences were issued in 2026 as supply from domestic refineries, particularly the Dangote refinery, was considered sufficient to support the local market.

However, NMDPRA data for January 2026 showed that about 24.8 million litres of imported petrol were still consumed daily in Nigeria, although the figure dropped significantly to about three million litres per day in February.

Dangote further alleged that many of the companies importing petrol into Nigeria do not operate retail outlets or filling stations, suggesting that some of the imported volumes may be diverted or smuggled after arriving in the country.

He warned that the trend could mirror challenges previously faced by Nigeria’s rice industry, where local producers struggled to compete with imported products.

Nigeria has historically relied on imported refined petroleum products due to the poor performance of its state-owned refineries. However, expectations have risen with the start of operations at the Dangote refinery, which has a processing capacity of 650,000 barrels per day and is regarded as the largest single-train refinery in the world.

The facility is seen as a major step in Nigeria’s efforts to end decades of dependence on imported fuel.

Meanwhile, Nigeria’s minister of foreign affairs, Yusuf Tuggar, has said the ongoing tensions in the Middle East highlight the need for stronger energy partnerships with countries like Nigeria.

He noted that disruptions in oil shipments through the Strait of Hormuz, a key global oil corridor, underscore the importance of diversifying supply sources.

Tuggar said Nigeria’s untapped oil and gas reserves present an opportunity for Gulf states to partner with the country in expanding production and stabilising global energy supply.

Nigeria currently produces about 1.7 million barrels of oil per day, up from around 1.4 million barrels when President Bola Tinubu assumed office in 2023, with the potential for further growth through increased investment in fields and pipelines.

He added that while Nigeria still imports significant volumes of refined petroleum products, expanding domestic refining capacity could help the country better withstand global energy shocks in the future.