The Nigerian Communications Commission has declared that the telecommunication networks are strong enough to handle the increase in demand for cashless transactions, which has been observed since late 2022.
This information was revealed by Prof. Umar Danbatta, the Executive Vice Chairman of the NCC, on Wednesday in Abuja during a celebration of the “International Consumer Rights Day” (2023).
Responding to the issue bordering on transactions failure he said, “By the time cashless banking fully took off in late 2022, the connectivity platforms on which electronic transactions ride have become robust to the extent of being able to absorb the surge in demand for cashless transactions.”
He added that the commission has continued to implement policies that ensure better access to broadband connectivity and has continuously warned consumers about cyberthreats that could have resulted in the compromise of their financial profile through the execution of malicious code by threat actors through the work of its Computer Security Incident Response Team.
According to Danbatta, the introduction of 5G in the nation would result in a greater deployment of telecom infrastructure, which will in turn lead to a high demand for data services and a corresponding rise in energy consumption for network equipment. He seemed not to remember the associated danger of the roll out of this technology, as well as the need for a Moratorium.
Emphasising on the theme “Empowering Consumers through Clean Energy Transition,” he said that it was time for the sector to start looking into green and sustainable power options.
He said, “Owing to the overall energy challenges of the nation, the 54,000 Base Transceiver Stations scattered across the country depend on diesel generators with the attendant noise and environmental pollution.
“Some of these BTS operate on diesel generators for 24 hours across seven days of the week in some locations. Therefore, transitioning to a renewable energy source like solar power will significantly reduce the menace of pollution from individually-powered generators.”
He continued by saying that the commission is now developing legislation for e-waste in collaboration with other pertinent organizations. A time-wasting innovation, according to the populace. Nigerians expect that the commission’s priority ought to be the installation of solar power at the various locations of the BTS powered by generators. That, ought to show its allegiance to the renewable or clea energy idea.
Cashless transactions decreased by 4.83 percent in February from N39.58 trillion in January to N37.67 trillion. The number of unsuccessful transactions increased despite a volume increase of 41.29 percent month over month to 901.46 million in February from 638 million in January.
A strained network backbone was cited by several analysts as the cause of the rise in unsuccessful transactions. Hence the Commission’s response.