Data privacy issues threaten Nigeria’s financial inclusion

2Growing concerns over data privacy and security are emerging as a significant barrier to Nigeria’s financial inclusion drive, despite years of investment in connectivity and digital infrastructure.

While policymakers and industry stakeholders have long focused on expanding broadband access, mobile penetration, and fintech innovation, experts now argue that trust — particularly around how personal data is collected, stored, and used — may determine whether millions of Nigerians join the formal financial system.

In 2012, the Central Bank of Nigeria set a target to reduce the country’s adult financial exclusion rate to 20 per cent by 2020 under its National Financial Inclusion Strategy. However, the exclusion rate stood at 36 per cent in 2020, according to the regulator’s 2022 report, underscoring persistent gaps in access and adoption.

Industry leaders say the challenge is no longer primarily about infrastructure.

“Increasing connectivity is essential, but it is only a prerequisite,” the Chief Commercial Officer at Optasia, Uchenna Agbo, said. “True inclusion requires meaningful participation, and that depends on trust.”

Across major commercial hubs such as Balogun Market, traders who rely heavily on cash transactions often remain hesitant to adopt digital financial services. Although many own mobile phones and are aware of mobile money platforms, concerns about fraud, account hacking, and misuse of personal information continue to discourage uptake.

Stories of compromised accounts and data leaks have circulated widely, reinforcing fears among small business owners that using digital systems could expose sensitive personal and financial information

For many low-income earners, privacy risks are seen not as abstract regulatory issues but as threats to livelihoods.

The issue has gained renewed prominence following the enactment of the Nigeria Data Protection Act and the establishment of the Nigeria Data Protection Commission, which is tasked with enforcing data protection standards and promoting responsible data practices across sectors.

Analysts say regulatory frameworks are necessary but insufficient on their own. They argue that financial service providers must move beyond compliance and embed privacy protections into the design of products and services, a model often referred to as “privacy-by-design”.

“Data privacy should not be treated as a compliance obligation or a technical feature added at the end of development,” Agbo said. “It must be seen as core infrastructure, as fundamental as the networks and platforms that deliver the services.”

Optasia, which operates in 38 countries and serves more than 120 million monthly active users globally, says lessons from other markets show that trust directly influences digital adoption rates, particularly among underbanked populations.

Consumer advocates note that for low-income users, the consequences of privacy breaches can be severe. Misuse of biometric data, unauthorised sharing of financial histories, or predatory lending practices enabled by data analytics can undermine confidence and deter participation in formal systems.

Aviation experts again raise concerns over charges

FAANFresh concerns have emerged in Nigeria’s aviation sector as industry experts warn that rising airport and ticket charges could further strain already struggling operators.

A former Commandant of the Murtala Muhammed International Airport, Grp. Capt. John Ojikutu (retd), cautioned that the introduction of new levies by the Federal Airports Authority of Nigeria could shorten the lifespan of many aviation companies.

It will be recalled that both operators and stakeholders have been lamenting multiple taxation in the industry, expressing fears that if such continues, the industry may be brought to its knees.

Speaking in Lagos, Ojikutu argued that before imposing additional charges, FAAN must critically evaluate its existing revenue streams from passenger traffic, flight operations and cargo movements across its 22 airports.

“Unless all these are factored rationally into FAAN earnings before new charges are introduced, unnecessary and irrational charges will be shortening the lifespans of many aviation operators,” he said.

He estimated that based on 2024 traffic figures alone, revenue from Passenger Service Charges, aircraft landing and parking fees should not be less than N400bn annually, excluding earnings from cargo terminals, car parks, toll gates, land rentals and airport concessions.

Ojikutu also faulted FAAN’s spending priorities, saying, “Most of the earnings are not used on the critical services in airports, especially the perimeter and security fences.” The FAAN management since 2004 has not been able to separate the security fence from the perimeter fences, as the International Civil Aviation Organization indicated in its 2004 audit report.

“There are no regular checks or reviews on background checks on airport staff, particularly those working in security control areas.”

He described as excessive the recent capital expenditure figures, including N712bn for the reconstruction of MMIA Terminal One and N535bn for the Abuja second runway.

“These capital expenditures are not just a complete waste but fraudulent spending,” he said, questioning the sharp rise from earlier runway estimates.

Ojikutu advocated structural reforms, including concessioning non-aeronautical services, transferring runways and landing aids to the Nigerian Airspace Management Agency and restructuring FAAN into a holding company model to avoid regulatory overlaps with the Nigeria Civil Aviation Authority.

Similarly, the President of the Aircraft Owners and Pilots Association of Nigeria, Dr Alex Nwuba, criticised what he described as non-transparent passenger and cargo charges.

He pointed to the five per cent Ticket Sales Charge, Value Added Tax on domestic tickets and multiple security and passenger service charges embedded in airfares.

“Although consultations were eventually held on the new cargo charges and the fee was reduced to N15 per kg, the charge still remains arbitrary because no cost study or operational breakdown has been presented to show what specific service the N15 actually pays for,” Nwuba said.

“The argument that the fee has not been increased from the old N7 per kg collected decades ago does not satisfy ICAO’s requirement for cost-relatedness. Historical pricing is not a valid basis for aviation charges. Even with stakeholder engagement, a fee without a transparent cost foundation is treated by ICAO as a tax, not a legitimate service charge,” he added.

Nwuba noted that under ICAO principles, aviation charges must be directly linked to the cost of providing defined services, with transparency and stakeholder consultation.

He referenced a recent resolution by the Economic Community of West African States aimed at reducing non-cost-based aviation charges across the sub-region from January 2026 but expressed doubts about its implementation.

According to him, publishing detailed cost studies and clear service allocations would help restore confidence and ensure that aviation fees reflect service delivery rather than revenue generation.

SAHCO secures ISO certificate

sifax-sahco-logo-brand-1Skyway Aviation Handling Company has secured the ISO/IEC Information Security Management System certification.

According to the company, the achievement puts the company as the first aviation ground handling company in Nigeria and one of the few in Africa to attain the globally recognised standard.

ISO/IEC 27001:2022, as it is called, is regarded as the international benchmark for information security management. It provides a comprehensive framework for protecting sensitive data, managing cybersecurity risks and ensuring the confidentiality, integrity and availability of information.

In the technology-driven aviation industry, the certification is seen as critical to safeguarding operational systems and customer data. It followed a rigorous audit and compliance assessment conducted by a globally accredited certification body, during which the company met all requirements.

The milestone, SAHCO said, reflects its commitment to cyber resilience, operational excellence and world-class service delivery.

Speaking on the achievement, Executive Director Dr Babatunde Afolabi said information security must be embedded across the organisation.

He said, “Information security is not just an IT function; it is an organisational responsibility.” Every employee plays a role in protecting our systems and customer data.

“Through structured training, strict policies and continuous monitoring, we have built a proactive security culture that supports safe, secure and reliable aviation operations.”

He noted that in aviation ground handling, robust information security is fundamental to business continuity and safety.

“By attaining ISO/IEC 27001:2022, SAHCO has demonstrated industry-leading capability in identifying security risks, implementing preventive controls and maintaining business continuity in the face of evolving cyber threats,” he added.

The certification covers SAHCO’s core operational areas, including cargo handling, customer information management, operational systems and key corporate support services.

Implementation involved extensive risk assessments, deployment of security controls, staff awareness programmes, incident response planning and continuous monitoring aligned with international best practices.

The company said the latest feat adds to its existing certifications, including ISAGO and other regulatory and quality standards, further positioning it as a trailblazer in Africa’s aviation ground handling sector.

“With this milestone, SAHCO becomes part of an elite group of global aviation ground handling service providers operating under internationally certified information security management standards.

“We are setting a new benchmark for excellence in Nigeria and across the African continent,” Afolabi stated.

No power, no growth, Dangote warns govt

Aliko DangoteThe President and Chairman of Dangote Industries Limited, Aliko Dangote, on Tuesday called on the Federal Government to urgently convene a national retreat to resolve Nigeria’s persistent electricity crisis, warning that widespread power outages could undermine the country’s industrialisation drive and economic growth.

Dangote made the appeal at the official national launch of the National Industrial Policy 2025 in Abuja, themed “From Policy to Productivity: Implementing Nigeria’s Industrial Future.”

The policy emerged against the backdrop of a weak manufacturing sector, which, due to poor electricity supply, high production costs, limited access to finance, infrastructure deficits, and heavy reliance on imports, has been constrained.

The event was attended by top government officials, captains of industry, and development partners, with President Bola Tinubu represented by Vice President Kashim Shettima

In his goodwill message, Dangote stressed that without stable electricity, Nigeria would struggle to create jobs, drive industrial productivity, or achieve sustainable economic growth.

“One of the things that I want to advise Your Excellency, Mr Vice President, is to call a national forum where we will have a one- or two-day retreat and resolve the issues of power. Because without power, Mr Vice President, there is no way in any country you can create growth or create jobs. So, power means growth. No power, no growth. So we must make sure that we tackle this issue,” he said.

His comments were greeted with applause from participants, including the Vice President. Dangote noted that while government policies to support industrialisation were commendable, the electricity challenge remained the single most critical constraint to manufacturing and job creation.

“We know what you call industrial policy; it is actually very, very important because the government cannot create jobs. They can only facilitate. And I think they have already given us whatever we need to create jobs. The policies that they have put in place are very good. Nigeria is a very big market. Not only that, this is a market where we are supposed to be serving other African nations,” he added.

However, he stressed that policy incentives alone were insufficient without strong infrastructure and protection of domestic industries.

“But one thing that we need is not only the policy. The policy is there. If you look at the incentives that we have for people to invest in Nigeria, actually, they are even more than what we need. The only thing that is remaining is the protection of industries.”

According to him, excessive importation remained a major threat to local manufacturing. “Even if you give us zero-interest loans, free land and power, if there is no protection, there is no way any industry will thrive here. Importation of anything is importation of poverty and exportation of jobs,” Dangote stated.

The billionaire industrialist lamented that many manufacturers now spend more on power generation than on production due to erratic electricity supply.

“So, people who are buying diesel, I would have loved to sell more diesel, but that is not the right way. The right way is to make sure there is power. Some factories spend more money generating electricity than producing goods. You have to set up your own power plant and also a standby. That does not make sense. There is nowhere you can get prosperity that way,” he added.

Dangote’s remarks came amid a recent five-day power supply disruption linked to gas maintenance activities, which triggered widespread blackouts across several parts of the country and heightened concerns among manufacturers and businesses.

Seven power plants across Nigeria experienced gas supply constraints between February 12 and 15, 2026, as Seplat Energy shut down a major facility for scheduled maintenance, lading to nationwide generation shortfalls.

His comments reflected ongoing concerns in the organised private sector following the recent gas supply maintenance shutdown that affected power generation and led to load shedding across the country.

Stakeholders have repeatedly warned that frequent outages are forcing companies to rely on diesel and alternative energy sources, significantly raising production costs and contributing to inflation.

Dangote also highlighted the dominance of the private sector in Nigeria’s economy, urging stronger collaboration between government and businesses. “Nigeria is the only country in Africa where the private sector is bigger than the government. When you look at GDP, the private sector contributes almost 90 per cent, compared to the government’s 10 per cent,” he said. “We have what it takes to create massive consumption, massive industry, and disposable income.”

He added that entrepreneurs must also support national development by paying taxes and complying with regulations. “When we do our business, we must pay our taxes. It is a joint venture. The government is the major shareholder in every business. Today, the government makes more money in our cement business than anybody. But that is okay, so far they allow us to expand and prosper.”

Dangote further said recent economic reforms had improved investor confidence and currency stability. “With the policies that this government has implemented, people are beginning to see the results. Manufacturers are happy. The stability of the currency is encouraging investors to come into Nigeria,” he said.

He projected that the naira could strengthen further if import dependence is reduced. “We should manufacture what we consume. That is the only way to create jobs. If we block unnecessary imports and support local production, the naira will get stronger,” he said.

Ebonyi ADC inaugurates transition committee, warns against sabotage ahead of 2027

The African Democratic Congress, ADC, in Ebonyi State has inaugurated its State Transition Committee ahead of its ward, local government, and state congresses, warning members against sabotaging the party’s efforts to position itself for victory in the 2027 general elections.

The state leader of the party, Sunday Opoke, said the ADC is determined to “rescue Nigeria from the ditch and depth of poverty, insecurity, impunity, bad governance, and corruption,” which he claimed have eroded the country’s social and economic systems.

Opoke, who was the 2023 governorship candidate of the Young Progressives Party (YPP) in Ebonyi State, cautioned party members against betrayal, sabotage, and internal wrangling.

He alleged that some individuals currently parading themselves as ADC leaders in the state are government loyalists bent on frustrating efforts to reposition the party.

According to him, Nigeria is on the brink of collapse, with once-functional institutions deteriorating steadily.

“Everything we used to know as functional in this country has been eroded. Today, if you are in a government school, it is as if you are not in school. In our time, it was the reverse. Today, there is no functional health system. Poverty is widespread. We are under what can best be described as kleptocratic governance,” he said.

He added that Nigerians cannot afford to remain passive while the nation declines, stressing that the ADC emerged to provide credible leadership and restore hope.

“Let me make it clear: anyone here pretending to be in ADC while working for APC, PDP, or any other party is in the wrong place,” Opoke warned.

He further alleged that the Ebonyi State Government had strategically planted loyalists within the ADC to hijack its structures.

According to him, in several local government areas, individuals parading as ADC executives are political appointees serving as personal assistants to commissioners, special assistants to council chairmen, or coordinators of development centres under the current administration.

He said the situation has created confusion and discouraged prospective members who are willing to join what he described as a genuine movement for change.

“If you are here to compromise or act as a stooge of the government, the system will eject you. We are building a transparent structure anchored on good governance, inclusiveness, responsiveness, respect for the rule of law, and prioritising the welfare and security of Nigerians,” he stated.

Opoke lamented the prevailing insecurity in the country, saying governance must be anchored on the security and welfare of the people.

“People are massacred unchecked and unabated. Nigerians can no longer afford three square meals. They are bleeding and asking when relief will come. But there is hope,” he added.

Inaugurating the Transition Committee, Chief Ogbonnia Oko Enyim described the move as a bold step to reclaim the party from alleged hijackers.

He said the committee was a product of courage, conviction, and commitment to due process.

“The mandate is clear: to restore order and strengthen the structures of the party across the 13 local government areas of Ebonyi State. The committee is expected to prepare the party for credible congresses and electoral victory in 2027,” he said.

He stressed that the ADC would not be hijacked, weakened, or reduced to a platform for personal ambition.

“We stand for internal democracy, unity, discipline, and responsible leadership. To the members of this committee, history has placed a responsibility on your shoulders. Build a structure that reflects the true will of our members and the aspirations of the people,” he charged.

Also speaking, the Chairman of the ADC Movement in Ebonyi State, Barrister Solomon Adum, urged members not to be intimidated by alleged harassment or pressure from the ruling party.

He assured that the ADC would deploy every legal means available to resist intimidation and protect its members.

Adum called for unity, cooperation, and commitment, noting that Nigerians are looking to the ADC for solutions to hunger, insecurity, economic hardship, and what he described as persistent governance failures.

The inauguration concluded with a renewed pledge by party leaders to strengthen internal structures and mobilise support ahead of the 2027 polls.

 

ZLP’s Onukwue elected Abia IPAC Chairman

Abia State chapter of the Inter-Party Advisory Council (IPAC) has elected Prince Onukwue of the Zenith Labour Party, ZLP as its new State Chairman for the 2026–2028 tenure, following a keenly contested electoral process held in Umuahia.

The election, which took place at the Independent National Electoral Commission, INEC, office, marked a leadership transition from the former State Chairman, Nelson Uluocha of the Young Progressives Party, YPP.

Seventeen out of the 19 chairmen of registered political parties participated in the exercise supervised by IPAC National representatives, in collaboration with INEC officials.

Other elected officers include: Mrs. Victoria Akabuike (Boot Party), Deputy Chairman, Larry Charles (Action Peoples Party) State Secretary, among others.

The newly elected executives were sworn in immediately after the conclusion of the voting process.

In his acceptance speech, the new IPAC Chairman, Onukwue, expressed gratitude to fellow party chairmen for the confidence reposed in him.

He said that the IPAC would support progressive policies in the State and also objectively criticise the Abia State government.

Lagos CP decorates newly promoted ASPs, charges officers to improve service delivery

The Commissioner of Police, Lagos State Command, Olohundare Jimoh, has decorated newly promoted Assistant Superintendents of Police, ASPs, charging them to raise the bar in professionalism, discipline and service delivery in line with the objectives of the Nigerian Police Force.

Speaking at a decoration ceremony held on Monday at the command headquarters in Ikeja, Jimoh described the promotions as a product of merit, dedication and outstanding performance, urging the officers to see their elevation as both recognition and responsibility.

“This advancement reflects your hard work and commitment to duty. I expect you to remain steadfast in serving the police institution and the nation with integrity,” he said.

The commissioner also commended the Inspector-General of Police, Kayode Egbetokun, for approving the promotion of 1,848 inspectors nationwide to the rank of Assistant Superintendent of Police.

Jimoh assured the police leadership that the newly promoted officers would be deployed across key operational and administrative units to strengthen policing outcomes and improve public service delivery across the state.

He emphasized that the new rank comes with heightened expectations, calling on the officers to demonstrate leadership, efficiency and discipline while fostering teamwork within the command.

“Our collective objective is improved service delivery and enhanced protection of lives and property, especially for the most vulnerable members of society,” he added.

According to him, the promotions acknowledge past contributions while also reflecting confidence in the officers’ future capacity to contribute meaningfully to policing reforms and professionalism in Lagos State.

Several of the newly decorated ASPs, who spoke after the ceremony, expressed appreciation for the promotion and pledged renewed commitment to duty.

One of the officers noted that the elevation comes with greater responsibility and promised to deliver beyond expectations in operational and administrative roles.

Others echoed similar sentiments, describing the promotion as a privilege and an opportunity to make a positive impact within the force.

They collectively thanked the police leadership for the confidence reposed in them, assuring that they would uphold the core values of the Nigerian Police Force and contribute to improved security and public trust.

Lagos govt to deploy surveillance drones to boost security

Lagos State Government has unveiled plans to introduce surveillance drones, in collaboration with key security agencies, as part of efforts to enhance intelligence gathering and curb insecurity across the state.

The Executive Secretary and Chief Executive Officer of the Lagos State Security Trust Fund, Mr Ayodele Ogunsan, made the disclosure on Monday during a press briefing marking his first 100 days in office.

He explained that the initiative is aimed at strengthening aerial monitoring and improving rapid response to security threats.

Ogunsan revealed that the Trust Fund is preparing to enter into a Memorandum of Understanding with the Nigerian Air Force and the Nigeria Police Airwing to facilitate coordinated air-based security operations across Lagos.

According to him, the partnership will involve the deployment of Unmanned Aerial Vehicles, UAVs, commonly referred to as drones, to significantly boost surveillance coverage, intelligence collection and operational coordination among security agencies.

He noted that as Nigeria’s commercial hub, Lagos requires continuous investment in modern security infrastructure to protect lives, property and economic activities.

Reviewing his stewardship so far, Ogunsan said the Trust Fund had expanded its financial capacity through targeted fundraising strategies and deeper engagement with stakeholders.

He disclosed that 80 new operational and patrol vehicles had been deployed to strengthen security presence and response time across the state, adding that additional vehicles would be delivered in the coming months.

The Trust Fund boss also announced that a private donor had committed to building a permanent office complex for the agency, while efforts were underway to rehabilitate previously abandoned Armoured Personnel Carriers and return them to active service.

Looking ahead, Ogunsan said the Fund plans to introduce statewide training programmes for security personnel, focusing on professionalism, tactical efficiency and improved service delivery.

He reaffirmed the Fund’s commitment to transparency, accountability, innovation and strategic partnerships, stressing that these principles remain central to sustaining a safe and secure Lagos.

“Through collaboration and innovation, we will continue to strengthen security and ensure a safer environment for all residents,” he added.

Kano fire: FG, APC govs donate N8bn to victims

TinubuThe Federal Government, on Monday, approved the release of N5bn to support victims of the Kano Singer Market fire disaster.

Also, the All Progressives Governors Forum, led by Imo State Governor, Hope Uzodimma, pledged N3bn to the victims.

Vice President Kashim Shettima disclosed the donation during a sympathy visit to the market on Monday.

Speaking in Kano, Shettima said the intervention aimed to help victims rebuild their businesses and restore economic activity in the market.

“Your Excellency, we join you today not only to sympathise with you over the fire outbreak at the Singer Market that has disrupted the commercial life of this great state, but to come bearing the promise of the Federal Government that we stand firmly with the good people of Kano.

“President Bola Tinubu has approved the release of N5bn to the Government of Kano State as palliative towards this incident.

“And the Progressive Governors Forum, under the leadership of Governor Hope Uzodimma, has also pledged N3bn in support of the victims of the fire incident at the Singer Market.

“Together, we have collectively contributed N8bn to the victims of the fire disaster.

“The Federal Government stands with you in this moment of hardship and will continue to provide the necessary support,” Shettima said.
Related News

2027: Kano central to APC plans, says Shettima
FG, Wigwe varsity advance talks on AI, agric innovation
Two million Kano children exposed to danger, NGO warns

The visit followed the fire which broke out on Saturday evening, February 14, 2026, in the Gidan Glass section of the market along Ado Bayero Road and raged into Sunday morning.

It affected more than 1,000 shops and reportedly left seven traders feared missing.

Describing the incident as a national tragedy, Shettima said the inferno was not only a loss to Kano State but to the entire federation.

The Vice President, who was accompanied by the governors of Jigawa, Kebbi, and Imo, offered prayers for the victims and prayed to Almighty Allah to prevent the recurrence of such disasters in the future.

The Chairman of the Singer Market Traders Association, Junaid Zakari, expressed gratitude to the Federal Government for what he described as a timely and generous gesture.

He pledged that the funds would be used judiciously to support affected members and help restore business activities in the historic market.

The PUNCH reports that the fire marks the second major blaze at the market in less than two weeks.

Emergency responders from NEMA, the Kano State Emergency Management Agency, the Federal Fire Service, and other agencies eventually contained the blaze, which officials linked to a possible solar battery explosion.

N’Assembly okays N1.5tn Army budget amid rising insecurity

National Assembly ComplexThe National Assembly on Monday approved a N1.5tn budget proposal for the Nigerian Army for the 2026 fiscal year, pledging legislative support to ensure the timely release of funds for implementation.

The approval followed a joint budget defence session in Abuja by the Senate and House of Representatives Committees on Army, where the Chief of Army Staff, Lt Gen Waidi Shaibu, presented details of the proposed expenditure for the coming year.

Speaking after the session, the Chairman of the Senate Committee on Army, Abdulaziz Yar’Adua, said lawmakers were satisfied with the presentation and reaffirmed their commitment to supporting the Army in the discharge of its constitutional duties.

“We had a joint session of the Senate and House of Representatives Committees on Army on the 2026 budget, and after listening to the presentation of the Chief of Army Staff, all members expressed satisfaction with it.

“All members of the joint committee also agreed that the major issue is the delay in the release of funds, a matter which is affecting all Ministries, Departments and Agencies.

“I want to assure the Chief of Army Staff that we are committed to collaborating with him to succeed.

The army is so critical in our life as a nation, and we would support you with everything you need,” Yar’Adua said.

His counterpart in the House of Representatives, Aminu Balele, commended the COAS, officers and men of the Nigerian Army for their commitment and sacrifice in safeguarding the country.

“As we close the 2026 budget defence, I want to thank my Senate counterpart, Sen Abdulaziz Yar’Adua and his colleagues for joining hands with us for this national assignment. I commend the Chief of Army Staff and his team for their patriotism and commitment.

“In my capacity as the Chairman of the House Committee on Army, I wish to salute Speaker Tajudeen Abbas for his unwavering support.

“We know the issues involved with budgets, and we are ready to push and will continue to push for the timely release of funds, so that you can deliver on your mandates,” he said.

The approval of the N1.5tn allocation comes amid sustained calls for increased funding of Nigeria’s security architecture, particularly the armed forces, as the country continues to grapple with insurgency, banditry, kidnapping and other forms of violent crime.

For over a decade, the Nigerian Army has been at the forefront of counter-insurgency operations against Boko Haram and Islamic State West Africa Province in the North-East.

Troops are also deployed across the North-West and North-Central regions to confront bandits and criminal networks while maintaining internal security operations in other parts of the country.

Security analysts and military authorities have repeatedly argued that the evolving nature of asymmetric warfare requires sustained investment in modern equipment, intelligence gathering, troop welfare, logistics, and training.

Delays in the release of appropriated funds, they note, can slow procurement processes, disrupt operational planning, and affect morale.

With troops engaged on multiple fronts and security remaining central to economic stability and national cohesion, lawmakers believe ensuring prompt fund release will be critical to translating the approved figures into measurable gains on the battlefield.