Telecom
NCC, NESG Mull Collaboration to Boost Telecoms Impact on Nigeria’s Economy
The Nigerian Communications Commission (NCC) and the Nigeria Economic Summit Group (NESG) are considering possible areas of increasing collaboration to enhance the impact and contribution of telecommunications sector on Nigeria’s socio-economic development.
This was the crux of deliberations during a courtesy visit by a delegation of the National Assembly Business Environment Round Table (NASSBER), a policy unit at NESG led by Nnanna Ude and a member of the technical committee of NASSBER, Yemi Keri.
Dr. Ikechukwu Adinde, Director, Public Affairs, NCC, disclosed this in a statement released on Tuesday, in Abuja.
According to the statement, “the need for stakeholder collaboration and engagement between the Commission and other stakeholders in order to conduct an impact assessment and gap analysis of the Nigerian Communications Act (NCA) 2003, which will lead to improvement of the legal instrument and reflect new trends, especially in a post-pandemic world, was the primary focus of the visit”.
The two entities also considered synergy in the area of Research and Development (R&D); while NESG has expressed its desire to have the Commission feature prominently in the forthcoming Nigeria Economic Summit (NES), an annual summit organised by the NESG, scheduled to hold in October this year.
While receiving the delegation on behalf the Executive Vice Chairman of NCC, Prof. Umar Garba Danbatta, Director, Public Affairs, NCC, Dr. Ikechukwu Adinde, stated that the meeting was a welcome development, as it aligns with the telecom regulator’s strategic partnership and collaboration objectives.
Adinde stated that the NCA 2003 is a robust regulatory instrument, which has given the NCC the mandate to regulate the telecom sector effectively, as seen in the contribution to the overall economic development of the country.
He stated further that, by virtue of Section 70 of the NCA 2003, the Commission has developed various regulations and issued guidelines that have helped in addressing critical issues pertaining to its regulatory activities.
Other senior management staff of the Commission, including the Director, Licensing & Authorisation, Muhammed Babajika; Director, Technical Standards & Network Integrity, Bako Wakil and representatives of the departments of Legal & Regulatory Services; Policy Competition & Economic Analysis; and Financial Services of the Commission, took turns to talk about the activities of the Commission in implementing its regulatory mandate for the benefit of the country.
Mr Babajika spoke on the licensing regime of the Commission and its impact on innovation in the economy, while Engr Wakil spoke about NCC’s regulatory efforts and collaborations with various stakeholders, such as the Nigeria Governors’ Forum (NGF) towards addressing challenges to quality of service (QoS) in telecom industry.
The impact of these challenges such as multiple taxation and regulations, fibre cuts, vandalism, high cost of Right of Way (RoW), theft of telecoms facilities and the need for the passage of the Critical National Infrastructure (CNI) Bill into law.
Speaking earlier on behalf of Laoye Jaiyeola, chief executive officer of NESG,; Ude acknowledged the critical role NCC is playing in the provision of essential digital support for the Nigerian economy.
He noted that, in 20 years of telecoms liberalisation, the Commission has been contributing significantly to the country’s Gross Domestic Product (GDP).
Ude explained that the visit was part of the efforts of the NESG to strengthen collaboration with key institutions of government such as the NCC.
He extolled the role of the Commission in driving telecommunications sector growth through efficient and result-oriented regulations, noting that the impact of the regulations are evident in industry performance indicators which have shown upward trajectory over the recent years.
“The NCC is key to the digital transformation agenda of the government and we can see the footprints of the readiness of the country on that journey, in terms of the level of broadband penetration, internet subscription, teledensity and other critical indicators,” he said.
Meanwhile, Adinde, stated that the Commission was excited by the prospects of partnering with NESG and NASSBER, noting that such partnership will further enhance telecoms contribution to Nigeria’s socio-economic growth.
He added that “all the issues discussed will be articulated in a memorandum, which will be submitted to Management for consideration.”
Telecom
Unforgettable Moments and Big Wins at the TECNO SPARK 30 City Tour
TECNO SPARK 30 city tour made a memorable stop at Ikeja City Mall on November 15th, bringing with it an infectious energy that electrified the entire city.
As the event unfolded, it was clear that this was more than just a product showcase – it was an immersive experience designed to thrill and delight.
The day’s festivities kicked off with the iconic TECNO SPARK 30 transformer bus, painted in bold red and blue hues, rolling into action.
The bus served as the hub for a games grotto, where fans immersed themselves in thrilling digital games and adventures.
Outside, the excitement spilled over, with attendees engaging in friendly competitions of Jenga, Monopoly, Ludo, and chess.
These games sparked laughter, playful banter, and a sense of camaraderie among strangers.
As the games heated up, so did the rewards. Purchasers of the TECNO SPARK 30 Pro enjoyed a N20,000 discount and a chance to win up to 100% cashback by participating in the games.
The atmosphere was electric, with cheers of victory, enthusiastic applause, and celebratory high-fives.
The excitement reached a fever pitch with the arrival of tech and lifestyle creator Kagan, accompanied by Big Brother Naija Season 9 stars Victoria and Ruthee.
The trio dove into the action, competing in games and claiming victory. They were awarded TECNO-branded gift items, earning cheers and applause from the thrilled crowd.
The event was an unforgettable experience, leaving a lasting impression on all who attended.
Telecom
Sophos Report Highlights Cyber Risks During Holiday Shopping Season
During peak shopping days, this threat intensifies.
Here’s what happens: with the surge in online deals, more employees may be shopping from their work computers, feeling that Cyber Monday is a legitimate time to do so.
This increases the risk of them clicking more freely and potentially exposing the organization to malicious links or phishing attacks.
To keep your organization safe, encourage your team to follow these simple tips:
• Don’t click deals in email that look too good to be true or are from businesses you don’t have accounts from – these could be phishing emails hoping to bait you into clicking links to bogus, malicious web sites.
This season, small steps can make a big difference in protecting against cyber threats.
Telecom
MTN Nigeria Shops for N50Bn Commercial Paper to Boost Working Capital
MTN Nigeria Communications Plc has announced plans to issue up to N50bn in Series 13 and 14 Commercial Paper Notes under its N250bn Commercial Paper Issuance Programme.
This proposed issuance aligns with the company’s strategy to broaden its funding sources and strengthen its liquidity position.
The proceeds from the issuance are earmarked to support MTN Nigeria’s short-term working capital needs, enabling the company to sustain its operations and meet financial obligations effectively.
In a statement to the Nigerian Exchange Limited (NGX) and the investing public, MTN Nigeria emphasized its commitment to maintaining financial stability and operational efficiency.
According to the statement signed by Uto Ukpanah, company secretary, further details regarding the structure, pricing, and timeline of the issuance will be disclosed to the market in due course, as MTN Nigeria continues to engage with stakeholders and regulatory authorities.
MTN Nigeria recently completed its series 10 commercial paper issuance under its upsized N250bn commercial paper issuance programme.
The telecom giant said 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 to continue diversifying its funding sources and reducing its average cost of debt. The proceeds will be applied towards 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.
- News2 days ago
Court Orders Arrest of Echefu, Businessman over Alleged $651,280 Fraud
- E-Business1 day ago
NITDA Alerts Nigerians on Cybersecurity Risks Linked to Spotify
- Uncategorized2 days ago
Nigerians to Use NIN Cards for Payments, Cash Withdrawals — NIMC
- Telecom2 days ago
GSMA Report Reveals How Cybersecurity and Revenue Growth are Driving Enterprise Digital Transformation
- Telecom2 days ago
NEC Calls on States to Embrace NASENI’s Tech Innovations
- News2 days ago
NACCIMA Warns Against Arbitrary Taxation on Businesses
- E-Financial2 days ago
Banks, Others Raise N2.7 Trillion from Capital Market – SEC
- Telecom2 days ago
MTN Nigeria’s Inclusive Workplace: A Model for Innovation