Telecom
NCC, 3R Sign Pact on Revenue Assurance Solutions
The Nigerian Communications Commission (NCC) has finally signed a Public Private Partnership (PPP) agreement with its consultant, 3R Company Nigeria Limited, for the execution of the Revenue Assurance Solutions (RAS) to strengthen and manage the integrity of revenue generation process in the Nigerian telecommunications industry.
The agreement-signing ceremony, which took place at the Commission’s Head Office, Abuja on Friday, June 17, 2022, was witnessed by representatives of the Infrastructure Concession and Regulatory Commission (ICRC).
The ICRC has been guiding the partnership implementation process to give expression to the decision to procure the Solution within a PPP framework due to the scope of the project.
While Prof. Umar Garba Danbatta, Executive Vice Chairman and Chief Executive Officer of NCC, signed the agreement on behalf of the Commission, the Chief Executive Officer, 3R Nigeria Limited, Mr. Raymond Wodi, signed on behalf of his company.
Speaking at the event, Danbatta said the decision of the NCC to opt for RAS was to bolster the efforts of the Federal Government in increasing revenue generation, especially at a time when the resources at the disposal of the government are dwindling by the day.
The EVC stated that the deployment of RAS would enhance monitoring and regulatory activities concerning Annual Operating Levy (AOL) administration in the telecommunications industry and confer higher levels of integrity and fidelity on the AOL figures obtainable in the industry.
“It is our belief that if we can be able to deploy RAS and ensure we get the true picture of what the Mobile Networks Operators (MNOs) are supposed to be paying by way of AOL, we would have accomplished an important milestone in the area of revenue generation for the Commission as well as for the government,” Danbatta said.
The EVC commended the ICRC for the guidance provided in the process of consummating the partnership. He also praised the Project Delivery Team (PDT), comprising staff of the Commission, who worked tirelessly in ensuring that the project was brought to fruition and for all their efforts.
He urged the 3R Company Nigeria Limited to ensure effective deployment and implementation of the project within its scope, objective and government’s expectations.
In his comment, Raymond Wodi of 3R Company Nigeria Limited, thanked the Commission for the opportunity given to the company to serve the industry and the government through deployment of 3R’s technology solution to ensure a more effective revenue generation from telecom licensees.
Wodi also assured the stakeholders that 3R is ready to meet and exceed expectation on the assignment.
Mr. Togunde Dada-Hammed, Director, Internal Audit, ICRC, who represented the Director-General of ICRC, Mr. Michael Ohiani, commended the NCC for the bold decision to deploy RAS.
He declared that with ICRC in the picture, it would offer required support for the process in order to ensure that the project’s objectives are realised for the betterment of all the parties involved.
“Anybody that is familiar with the trends around the world, especially in Nigeria with respect to revenue challenge that the country is facing, will know that the deployment of RAS solution is the right way to go, as demonstrated by the NCC,” Dada-Hammed said.
Meanwhile, the EVC has commended the Minister of Communications and Digital Economy, Prof. Isa Ali Ibrahim Pantami for his role in presenting the NCC RAS project to the Federal Executive Council (FEC) Meeting where the final approval was given for the implementation of the Solution.
The RAS project is designed to be connected to the licensed telecommunications operators’ systems and will have the capability of capturing and reporting in real-time, the billing activities by the operators for the purposes of computing and assuring with minimal or no error margin, the accrued AOL payable to the NCC by the licensees.
When deployed, the NCC RAS will bring a lot of solutions to the industry, including a more effective and enhanced monitoring and regulation of the licensed telecommunications operators by the Commission.
Before now, the Commission had engaged and fully sensitised MNOs, licensees within the telecoms Value Added Service chain, officials of the Commission and other industry stakeholders on the Commission’s plan to deploy RAS that will instill greater transparency and increased accuracy in the administration of AOL in the sector, as enshrined in the Nigerian Communications Act (NCA), 2003.
It will be recalled that the NCC’s desire to deploy the most appropriate RAS in the Nigerian telecommunications industry began in 2015 when the Commission published an invitation to bid, for entities that may wish to offer RAS services. The 3R Company Nigeria Ltd. emerged the preferred bidder and the Bureau of Public Procurement (BPP), offered ‘no objection’ to the process and its outcome.
Due to the scope of the project, it was reasoned that the objective will be better achieved through a PPP arrangement. This understanding explains the invitation sent to ICRC to guide the process, as mandated by its regulations.
Accordingly, the Nigerian Communications Commission set up a Project Delivery Team, which worked with a consortium of legal advisers, financial modelers and PPP experts with the guidance of ICRC, which ensured that appropriate steps required were complied with in keeping with the ICRC Regulations 2005. Part of the process included ensuring due diligence of the preferred partner, which received a clean bill of health from the Office of the National Security Adviser (ONSA).
The Commission also subjected the software and hardware components of the proposed RAS to the certification of the National Information Technology Development Agency (NITDA).
MTN Nigeria has proposed issuing up to N50bn series 11 and 12 commercial paper notes to raise funding for its operations, according to the company’s notice to the Nigerian Exchange Limited.
The notes issuance is under the company’s N250bn commercial paper issuance programme.
According to the statement signed by Uto Ukpanah, company secretary, the issuance is part of the company’s strategy to diversify its financing options with the funds being deployed towards short-term working capital requirements.
MTN Nigeria recently completed its series 10 commercial paper issuance under its upsized N250b commercial paper issuance programme.
Ukpanah, the telecom giant it sought to raise N72.1bn and the offer recorded 149 per cent subscription with N72.1bn issued.
The 266-day commercial paper was issued on 29 November 2023 at a yield of 16 per cent.
The CP issuance aligns with MTN Nigeria’s strategy of continuing to diversify its funding sources and reduce its average cost of debt. The proceeds will be applied to short-term working capital requirements.
Karl Toriola, chief executive officer, MTN Nigeria, said, “We are pleased with the support received from the investor community, having recorded a 149 per cent subscription from a broad range of investors. This reflects NTN Nigeria’s robust financial capacity, brand strength, and market leadership amidst the upward pressure on interest rates”
Stanbic IBTC Capital Limited played the role of Arranger and Dealer with ARM Securities Limited. Chapel Hill Denham Advisory Limited, Coronations Marchant Bank Limited, FCMB Capital Markets Limited, Quantum Zenith Capital &Investments Limited, Rand Marchant Bank Limited, and Vetiva Capital Management Limited played the role of Joint Dealers on the transaction.
Salesforce’s latest State of the AI Connected Customer research reveals consumer trust in companies is at a record low and that AI is raising the stakes for brands.
Today, 60% of consumers believe that advances in AI make trust even more important, and with AI agents on the rise, the findings point to real opportunities for companies to win back consumers with trustworthy AI agents this holiday season. This opportunity is greatest with Gen Zers, with almost a third of Gen Z consumers saying they’d be comfortable having an agent shop for them.
Faced with a challenging holiday shopping season and sinking consumer trust, brands can’t afford to get AI wrong—especially as more than $200 billion in global online sales will be influenced by AI this holiday season.
AI agents, or intelligent software that understands and responds to customer inquiries without human intervention, can help companies drive higher margins and keep consumers buying by delivering incredible customer service. From alleviating clunky purchase experiences to difficult return processes, there’s an agent for that. But to build trusted customer relationships, brands need trusted AI agents that are grounded in transparency and the right data.
Consumers trust less, expect more
Consumer trust is at its lowest point in eight years, and advances in AI make earning that trust more critical than ever.
Nearly three-quarters (72%) of consumers trust companies less than they did a year ago
65% feel companies are reckless with customer data
It’s not just about trust; consumers also expect best-in-class experiences.
69% of consumers expect consistent interactions across departments
Nearly 60% of consumers prefer using fewer touchpoints to get information or complete a task
While better deals are a top driver for consumers to switch to a new brand, customer service experience, convenience, and consistent product or service quality drive more long-term brand loyalty.
43% of consumers say poor customer service experience will stop them from making a repeat purchase from a company or brand
More than a third of consumers say that inconvenience, such as a difficult return process or clunky purchase experience, will cause brands to lose them
Younger consumers are most open to AI agents
The research shows Gen Zers and millennials are more willing than older generations to use AI agents to improve their customer experience by creating more personalised, or useful content.
Younger generations, in particular, hold companies to a higher standard when it comes to adapting to and anticipating their needs—43% of Gen Zers and millennials say AI raises the bar for customer experiences compared to just 32% of baby boomers.
Gen Z and millennial consumers are more likely than older generations to consider the benefits provided by agents.
Transparency is key to building consumer confidence in the AI agent era
Despite the promise of young shoppers, many consumers haven’t made up their minds on AI yet. Nearly half of consumers are neutral about AI’s impact on their lives, whether personal or professional.
In fact, many consumers feel a mix of suspicion (44%) and curiosity (41%) about the future of AI —revealing a ripe opportunity for companies to help consumers see and understand the benefits of AI agents.
Over a third of consumers would work with an AI agent instead of a person to avoid repeating themselves
30% of consumers—even more among Gen Z and millennials (37%)—would work with an AI agent instead of a person for faster service
A quarter of consumers — even more among Gen Z and millennials (roughly one-third)—would share their personal information with an AI agent so it can better anticipate their needs
To build confidence in the agent experience, businesses need to bridge the trust gap through more transparency.
Nearly 75% of consumers want to know if they’re communicating with an AI agent
45% are more likely to use an AI agent if there’s a clear escalation path
44% are more likely to use an AI agent if its logic is clearly explained
“Retailers face a much more competitive shopping season this year, as they look to deliver higher margins in the midst of increasing customer demands. AI agents can help brands deliver consistent, personalised experiences for shoppers across every channel – deepening customer loyalty and ultimately driving more sales,” says Linda Saunders, Salesforce Director Solutions Engineering Africa.
MTN Nigeria has received a “Media Capacity Development Support Award” for its immense contributions towards the growth and development of media practitioners across Nigeria.
The award was presented by the Media Career Development Network, at its inaugural conference held at the University of Lagos on October 31, 2024.
Held at the Biodun Shobanjo Auditorium Centre for Excellence, the Media Career Development Conference saw the coming together of seasoned media practitioners who shared insights on opportunities for growth and career advancement in the ever-evolving digital landscape.
Executive Director of the Media Career Development Network, Lekan Otufodunrin noted that the conference aligns with the organization’s commitment to promoting media excellence and advancing the careers of media professionals in Nigeria.
Speaking on the award, Chief Corporate Services & Sustainability Officer, MTN Nigeria, Tobe Okigbo appreciated the Media Career Development Network for the initiative, while also affirming MTN’s commitment to supporting the media.
“On behalf of MTN, I’d like to extend gratitude to the network for the recognition.
“At MTN, we believe in investing in institutions that bring value to the society and this includes the media.
“Journalists and other media professionals play a crucial role in telling authentic stories and shaping the image of our nation globally.
“So we’re committed to helping them gain the requisite skills and exposure needed to thrive in their profession”, he stated.
MTN Nigeria has consistently shown dedication to training world-class media professionals in Nigeria, particularly through its Media Innovation Programme (MIP).
Since 2022, the ICT firm has partnered with Pan-Atlantic University to enable media practitioners across various platforms gain insight into the rapidly evolving media environment.
Convener and Executive Director of the Media Career Development Network, Lekan Otufodunrin acknowledged the impact of the telecommunications giant’s efforts in upskilling Nigerian media professionals.
“The 6-month Media Innovation Programme created by MTN in partnership with Pan-Atlantic University has afforded media practitioners in-depth training on the media space and even the opportunity to gain more insights in South Africa.
“We hope that MTN Nigeria will continue to champion this programme for the development of professionals”, he said.
The Media Capacity Development Support Award joins a long list of awards MTN Nigeria has received for its contributions towards institutions beyond the telecommunications sector and the general society.
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