MTN Nigeria Communications Plc says it puts consumers first in the implementation of the USSD access charges regime in line with the objectives of the National Financial Inclusion Plan. The statement by MTN read as follows:

We at MTN approach every day with one primary objective – finding ways to make our customers lives a little easier; which is why we will focus on what really matters, our customers. 

They are the reason we made transparency and simplicity central to the recent drawn-out engagements with the banks over USSD access charges and how they should be applied. 

Following consultation with industry stakeholders, customer feedback and media reports related to the message notifying our customers of upcoming changes in our charging model for access to banking services via the USSD channel, we wish to confirm that the new charging model has not gone into effect.

The situation has made it necessary to restate that MTN Nigeria, in line with our company policy will always be transparent in our dealings with customers, the industry and relevant regulatory bodies.

The SMS notification to our customers is reflective of this commitment and was sent after formal requests received from individual banks as well as the Body of Bank CEOs to implement end-user billing – a billing methodology where the customer is directly charged USSD access fees irrespective of the service charges that the bank may subsequently apply to their bank account.

It should be noted that the banks had up-till now been on a corporate billing plan – where a corporate client, the provider of the service that is accessed through the USSD channel (in this case the bank), pays the access fees at a wholesale price.

We believe the costs associated with USSD banking services should be charged to the consumer only once – as with other USSD-based services we provide, which we believe has been adequately provisioned for within existing Central Bank of Nigeria (CBN) guidelines. 

It is infact in line with the National Financial Inclusion Strategy of the Federal Government that we resisted the calls for end-user billing. We relented only after exhausting avenues of engagement with the banks in pursuit of a model that enabled a single charge.

We believe separate charges by the banks and telecoms companies are an unnecessary burden on the consumer, especially the target group that the National Financial Inclusion Strategy is aimed at. 

With this in mind, it is imperative for all parties to approach the table and engage constructively towards a solution, putting the consumer at the fore of all decisions. 

The banks have been and still are our esteemed customers and valued partners. We look forward to collaborating with them and other stakeholders and will be glad to implement the decisions approved by our Regulators.

Uto Ukpanah

Company Secretary

Mr. Eddie Efekoha, President & Chairman of Council, Chartered Insurance Institute of Nigeria (CIIN) says the emerging digital era will define the insurance industry of today and the future.

Speaking at the 2019 Insurance Professionals’ Forum at Abeokuta, Ogun State on the theme: The Digital Era: Implications for insurance Professionals, Efekoha said: “The Digital era is here and Artificial Intelligence is playing a major role in its evolution.  More organisations are embracing the idea of a single microchip processing multiple functions. Indeed, the future which Artificial Intelligence promises for insurance is a series of touch-less processes from premium collection through to the entire claims process. Big data is all around us, ready to be harnessed and put to use. As an industry, how are we leveraging on technology to simplify data analytics in order to:

• Make pricing of insurable risks more accurate
• Enhance self-servicing of customers through interactive websites
• Tweak sales practices in line with customer needs and wants in order to improve profitability
• Cost efficiency
• Maximize overall performance

Importantly, Artificial Intelligence has never been less expensive or inaccessible. The question that arises however is: what is the role of the modern day insurance professional as this evolution plays out and what will be his when this evolution attains its full cycle? How will he/she stay relevant in an artificial intelligence driven society?”

He warned that any insurance professional who wants to remain relevant must see the opportunities in the threats posed by this digital era. He added that as someone who has been part and parcel of the Commission and insurance industry for years, it is a shame that Africa’s biggest economy (Nigeria) has an insurance penetration rate of about 0.3%.

Efekoha insisted that while the on-going recapitalisation in the insurance industry is important, of equal importance is the need for market development.

“As we embrace digital, we should not overlook the dangers posed by cybercrime around us. Cybercrime isn’t a myth, it is real. The National Information Technology Development Agency (NITDA) stated that in 2017, Nigeria lost $500million dollars to cyber-attacks, a figure up by $50 million from the year before. Globally, these numbers are even bigger and it is projected that damage related to cyber-crime will hit $6trillion annually by 2021. This Trojan horse is a big threat to professionals. As managers of businesses, we must keep abreast of the dangers its poses to businesses. Except we control this threat, we may have no relevance in the nearest future; that is if we still have businesses to run.”

The CIIN president said the relevance of the younger generation in this era of artificial intelligence has been brought to the fore by the Institute.

“Making its debut in this Forum is a conversation strictly for the next generation. They will be talking about the expectations and roles of the youth as leaders of tomorrow in the insurance industry.”

In pursuit of its goal to contribute to bridging the financial divide, MTN Group has granted third parties access to its Mobile Money (MoMo) Access Programming Interface (API) platform.

The open API enables developers and programmers to innovate on the platform and develop products and other solutions that will create a wider range of digital financial offerings for MTN’s customers.

To further foster innovation and enhance financial inclusion, MTN is inviting developers and entrepreneurs, across five countries, to participate in the MoMo API Hackathon.

The Hackathon, run in partnership with Ericsson (MTN’s MoMo technology partner), will give app developers based in Ghana, Uganda, Cote d’Ivoire, Cameroon and Zambia the opportunity to create innovative financial and transactional applications using the MTN MoMo API platform.

“Enhancing financial inclusion through digital technology is an essential element in supporting the continent’s realisation of some of the United Nation’s Sustainable Development Goals. We also see this as an opportunity for more tech developers, entrepreneurs and businesses to work with us in bridging the financial divide, whilst also creating ample opportunities for themselves,” said Serigne Dioum, MTN Group Executive for Mobile Financial Services.

This Hackathon further illustrates the essence of the company’s ‘We’re Good Together’ initiative, which celebrates the role that collaboration can play in ensuring that more people enjoy the benefits of a modern connected life. The range of solutions to narrow the financial services gap can only be achieved through various partnerships with entrepreneurs, developers, financial services providers, regulatory authorities, other mobile network operators, merchants, distributors, businesses and technology providers.

About the challenge

• Developers are required to create a mobile application that uses MTN MoMo APIs, the mobile application needs to target consumers, merchants or businesses.
• The application must be useful and usable in the market where the applicants have registered and can cover use cases beyond payment but must utilise MTN MoMo APIs.
• MTN/Ericsson in each country will select 12 applicants.
• The preselected applicants will have 2 weeks to develop their ideas.
• The preselected applicants will need to make a live demo of their application submission.

Finalists stand the chance to win up to USD2, 500 and one team member will win a trip to Ericsson’s Innovation Lab in Sweden.

MTN Nigeria Communications Plc has announced that following an in-depth assessment of the organisation, it has achieved the Investors in People (IIP) Platinum accreditation.

Investors in People is the international standard for people management, defining what it takes to lead, support and manage people effectively to achieve sustainable results. Underpinning the standard is the Investors in People framework, reflecting the latest workplace trends, essential skills and effective structures required to outperform in any industry. Investors in People enables organisations to benchmark against the best in the business on an international scale.

MTN Nigeria is the first Nigerian company to have attained IIP Platinum, the highest accolade available. This is held by only 2% of current IiP accredited organisations companies globally. It is noteworthy that MTN had previously received the IIP Standard certification in 2013 and the IIP Gold Certification in 2015.

Commenting on the recent certification, Chief Human Resources Officer, MTN Nigeria, Esther Akinnukawe said: “This IIP certification is a recognition of our people management practices over the years. It speaks to our credentials as an employer of choice and a great place for anyone to work and grow their career. For our people, we will continue to build upon this success.”