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FG Plans To Introduce New Internet Protocol Version (IPv6) For Digital Growth 

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The Federal Government plans to introduce the latest version of Internet Protocol, called IPv6, to improve how internet users and their devices are identified, numbered, and tracked in Nigeria.

This was disclosed at the IPv6 Driven Digital Summit under the theme “Bringing Net 5.5G Into Reality: Inspiring New Growth” organized by the National Information Technology Development Agency (NITDA) in collaboration with Huawei, the IPv6 Forum, and the IPv6 Council of Nigeria.

This new protocol will improve the management and security of internet traffic, making it easier to monitor and protect online activities. It will also bring Nigeria in line with global standards for cybersecurity and digital infrastructure.

Dr. Bosun Tijani, Minister of Communications, Innovation and Digital Economy highlighted that Nigeria’s migration to IPv6 places it among the leading African nations adopting this advanced protocol.

“With the adoption of IPv6, network providers in Nigeria can now offer more reliable services while enhancing the security of online transactions,” he stated.

Dr Tijani emphasized the protocol’s potential to unmask cybercriminals, thereby enhancing the country’s cybersecurity efforts.

He noted that the new protocol would enable authorities to better identify and track internet traffic, ensuring a safer and more secure internet environment for Nigerian citizens.

According to Tijani, only a few countries have fully embraced IPv6, making Nigeria’s transition a significant achievement.

“This is the standard used globally but only a few countries like the U.S., France, Saudi Arabia and United Arab Emirates are on IPv6; others are trying to catch up.

The IPV6 is the latest protocol responsible for ensuring that online transactions and activities allow authorities to identify users, both for security purposes and ensuring appropriate usage of the internet space.

Network providers will make sure the services they provide are always available by identifying where the traffic is coming from,” he said.

Malam Kashifu Inuwa, the Director-General of NITDA also elaborated on the minimal investment required to implement IPv6 in Nigeria. He referenced research from Roland Berger, a global consultancy firm, which indicates that adopting IPv6 could unlock a $10 trillion global market.

Inuwa explained that most existing devices are already compatible with IPv6, meaning the primary focus would be on developing a clear strategy and policy to ensure operators comply with the migration.

“This migration to IPv6 is expected to open new economic opportunities and strengthen Nigeria’s cybersecurity posture,” he said.

Things to Note

In line with ensuring continued internet coverage for Nigeria, NigComSat has initiated the process to replace the country’s current satellite, NIGCOMSAT-1R, which is set to complete its 15-year lifespan in 2026. The company is actively seeking global investors and collaborators to support this replacement project.

NigComSat partnered with Hotspot Network Limited to enhance internet connectivity in rural communities across Nigeria to bridge the digital divide by delivering reliable and affordable internet access to undeserved areas.

NigComSat will provide satellite coverage to support Hotspot Network’s expansion into regions lacking internet access to improve connectivity in rural Nigeria, offering better access to digital services and opportunities for residents.

 

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Business

CBN Restores BDC Access to FX Market, Caps Weekly Purchases at $150,000

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By Huldah Shado

The Central Bank of Nigeria (CBN), has approved the participation of licensed Bureau De Change (BDC), operators in the Nigerian Foreign Exchange Market (NFEM), allowing each BDC to purchase up to $150,000 weekly.

The approval was contained in a circular dated February 10, 2026, signed by the Director of the Trade and Exchange Department, Dr. Musa Nakorji, and addressed to authorised dealer banks and the general public.

The CBN said the move is aimed at improving foreign exchange liquidity in the retail segment of the market and meeting the legitimate needs of end users, amid a widening gap between the official and parallel market exchange rates.

Under the new arrangement, licensed BDCs can access foreign exchange from the NFEM through any authorised dealer bank of their choice at the prevailing exchange rate.

The apex bank directed banks to carry out full Know-Your-Customer (KYC), and due diligence checks on BDC clients before selling foreign exchange to them.

It also imposed reporting and transparency requirements, mandating BDCs to submit returns electronically to the CBN.

In addition, the bank prohibited third-party transactions and limited cash settlement to a maximum of 25 per cent of each transaction.

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Abuja Reports

Ultraviolet MFB MD Visits Equity Circle, Eyes Strategic Partnership

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By Samson Adeyanju 

The Managing Director and Chief Executive Officer of Ultraviolet Microfinance Bank, Bayonle Omoyele, has paid a working visit to Equity Circle, one of Abuja’s fast-growing real estate companies, as part of efforts to strengthen strategic partnerships within Nigeria’s real estate sector.

During the visit, Equity Circle’s Co-Founder and Chief Marketing Officer, Fabian George, conducted Omoyele on a tour of the company’s facilities and outlined its growth trajectory.

He disclosed that the firm recorded significant milestones over the past four years, culminating in an ₦8 billion revenue in the 2025 financial year.

Discussions between both parties focused on establishing a strategic credit relationship, with proposed areas of collaboration including invoice discounting, structured credit solutions, and cash-flow management support to help Equity Circle sustain and scale its operations.

Addressing Equity Circle staff during an interactive session, Omoyele emphasised the importance of strong marketing fundamentals, highlighting the 4Ps of marketing-Product, Price, Place, and Promotion, as key drivers of long-term competitiveness and brand leadership.

He also urged the team to adopt a long-term growth mindset, remain focused, and ensure that every unit contributes meaningfully to the organisation’s strategic goals, noting that disciplined execution is critical in Nigeria’s evolving real estate market.

The visit underscores Ultraviolet Microfinance Bank’s commitment to supporting high-growth enterprises through tailored financial solutions and partnerships that promote sustainable economic development.

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Business

Moniepoint Strengthens Africa’s Tech Talent Pipeline with DreamDevs Cohort 2

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By Omoniyi David

Moniepoint Inc has reaffirmed its commitment to building Africa’s technology talent pipeline, announcing the opening of applications for the second cohort of its flagship DreamDevs initiative.

Co-Founder and CTO Felix Ike described DreamDevs as a programme that equips recent graduates with industry-ready skills and hands-on experience to bridge the continent’s tech talent gap.

“The success of our first cohort validated that Africa’s young tech talent can compete globally. This year, we aim to convert half of our participants into full-time employees,” Ike said, adding that the initiative creates sustainable career pathways that drive Africa’s digital economy.

DreamDevs complements Moniepoint’s other talent development programmes, including HatchDev, in collaboration with NITHub, University of Lagos, which trains about 500 specialised developers annually, and the Women-in-Tech programme, now in its fifth year.

The initiative also aligns with the Federal Government’s 3 Million Technical Talent (3MTT), programme, with Moniepoint serving as a key sponsor, offering graduates a specialised pathway from training to employment.

DreamDevs underscores Moniepoint’s broader mission to leverage technology to empower Africa’s youth and advance the continent’s digital economy.

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