Weekly Recap: Banking Rules, Education, & a Big CEO Shake-Up

This week in Nigeria’s tech and business space, regulators introduced new payment rules, the education sector went digital with teacher licensing, a foundation opened fresh training opportunities for youth, and Access Holdings announced a new Group CEO. Here’s a closer look at the top four stories shaping the week:

CBN Fixes October Deadline for Adoption of New Payment Rules

The Central Bank of Nigeria (CBN) has given banks, fintechs, and payment operators a 31 October, 2025 deadline to fully adopt ISO 20022 and geo-tagging of payment points as compulsory. The order, signed by Payments System Supervision Department’s Dr. Rakiya Yusuf, states that the compliance will not be made voluntary.

ISO 20022, the international messaging standard, will cause every electronic payment local or global to bear enriched data fields such as payer IDs, merchant details, and transaction data. Concurrently, the obligation of geo-tagging requires all payment devices to have dual-frequency GPS and be associated with the location of the merchant’s business and will deny acceptances to such non-compliant devices.

CBN says validation checks will begin on October 20, 2025, days ahead of the deadline. Experts see this move as a means to curb fraud, increase supervision, and take the Nigerian financial landscape towards global best practices.

FG Introduces New Teacher Portal for Registration & Licensing

The Federal Government has rolled out a new internet portal designed to simplify teacher registration, licensing, renewals, and professional development. The online platform was rolled out in Abuja as part of a larger effort to enhance the standards and accountability for education in Nigeria.

Education Minister Dr. Tunji Alausa said the system is not technology alone — it realizes a commitment to “teachers, their dignity, growth, and future anew.” The portal includes criminal background checks, an ethics verification process, and career tracking tools. Teachers can now also see examination results and print certificates online, cutting delays at state offices.

The reform was also supported by the British Council, British High Commission, and champions of digital inclusion, who point to its role in enhancing teaching standards and safeguarding learners. TRCN Registrar Dr. Ronke Soyombo also launched plans for an AI lesson plan generator scheduled to be launched in October as a bold move towards digitized education.

Access Appoints Innocent Ike as New Group CEO

Access Holdings has appointed Innocent Ike as its substantive Group CEO, marking the end of Bolaji Agbede’s 18 months as acting CEO. Ike takes office on August 29, 2025, subject to CBN approval, and is a major leadership shift for the financial services giant.

Agbede had joined after the sudden demise of Herbert Wigwe in 2024, through a ₦351 billion rights issue, two AGMs, and providing staff stability. She was, however, not ratified due to provisions regarding CEO experience in holding companies’ CEOs. She will now return as Executive Director, Business Support.

Ike, a 30+-year veteran banking chartered accountant, had earlier led Polaris Bank and spearheaded Access Bank’s digital growth. Observers term his appointment an indication of continuity and experience during consolidation in the financial services sector of Nigeria.

Pantami Foundation To Equip Youths With AI Skills

Professor Isa Pantami Foundation (PIP Foundation) has initiated its third phase of free training, equipping 10,000 Nigerian youth with artificial intelligence and phone repair skills. The process hopes to bridge the gap between future sophisticated jobs and hands-on vocational opportunities that remain fundamental in most communities.

The foundation highlighted that emerging technologies could create 170 million new jobs globally, and Nigeria must be ready. The training is also a tool to tackle youth unemployment, encouraging entrepreneurship while equipping participants to compete globally.

The new round is available to the people of Gombe State, and must be applied for by August 31, 2025. Additional states will follow. The foundation has launched scholarships, exam assistance, and community initiatives since its founding — but this new move is its most assertive yet into Nigeria’s digital economy skills development.