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Danbatta Commends Adedigba over NIM Fellowship

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Professor Umar, Garba Danbatta, Executive Vice Chairman of the Nigerian Communications Commission, NCC, has commended Ismaila Adedigba, Assistant Director at NCC, over his recent conferment of the Fellowship of the Nigerian Institute of Management, NIM.

Adedigba who is the Director of Research Development at the Commission, has for many years been a Fellow of the Institute of Chartered Accountants of Nigeria (FCA) and Fellow of the Association of West African Society for Communications and Administration (FSCA).

Professor Danbatta said the elevation of Adedigba is well deserved, and commended his commitment and dedication to the ideals of his profession as well as a remarkable career progression, exemplified in his pioneering contributions to the growth of the Commission.

“No doubt, this is well-deserved elevation into the prestigious fellowship of the Institute, which obviously, was based on your unbroken antecedents to dedication in public service. Therefore, all of us at the Commission felicitate with you on the attainment of this prestigious status at NIM,” he said.

Adedigba’s conferment among other fellows, took place at the latest Awards of Fellows and Spouses’ Day Luncheon which took place at the Muson Centre, Onika, Lagos, and featured the decoration of distinguished individual members of the institute who have contributed to the development of the Institute, management of the profession and the civil society at large.

With adequate and relevant previous cognate experiences in audit, finance, consultancy and banking inspection, Adedigba joined the services of the Commission on April 3, 1995 as Head of Internal Audit and has risen through the ranks in the departments of Finance; Zonal Administration; Licensing; Business Development; Universal Service Provision Fund (USPF); Corporate Planning, Strategy and Risk Management Department; Consumer Affairs Bureau; and Policy, Competition and Economic Analysis Department for over two decades before his recent promotion as Director of R&D.

Adedigba holds an MSc. in Business Administration, and BSc. in accounting, and he is also an Associate Member, Chartered Institute of Taxation of Nigeria (ACTIN). Adedigba, as a fellow of NIM, will now be required to be involved actively in all programmes of the Institute through the Faculty of Fellows (FoF), where his core competence and the areas of specialization in his profession would be brought to bear and utilised.


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FG Gives Banks, Telcos Six-Month Deadline to Resolve N250Bn USSD Debt

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Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have ordered Deposit Money Banks and Mobile Network Operators to settle the long-standing N250bn USSD debt dispute before January 2, 2025.

FG Gives Banks, Telcos Six-Month Deadline to Resolve N250Bn USSD Debt

The CBN and NCC also directed banks to pay the pre-Application Programming Interfaces (API) debt before July 2, 2025.

They also ordered that post-API debts be settled before December 31, 2024.

The directive was issued in a joint cirular titled, “2nd Joint Circular of the Central Bank of Nigeria and the Nigerian Communications Commission on the Resolution of the USSD Debt Issue Between Deposit Money Banks and Mobile Network Operators.”

The circular dated December 20, 2024, was signed by Oladimeji Taiwo, acting director of the Payments System Management Department, CBN, and Chizua Whyte, head of Legal and Regulatory Services, NCC.

The regulators said, “In view of the foregoing, the CBN and the NCC hereby direct DMBs and MNOs as follows: 1. That 60 per cent of all pre-API invoices must be paid as full and final settlement.

“Payment plans (lump sum or installments) must be agreed upon between a concerned DMB and MNO by January 2, 2025. Installments must be based on equal monthly payments, with full payment due by July 2, 2025.

“DMBs must pay 85 per cent of all outstanding invoices issued after the implementation of APIs (i.e., February 2022) by December 31, 2024.

“Similarly, 85 per cent of future invoices must be liquidated within one month of service.”

According to the regulators, the transition to end-user billing will be activated only for DMBs and MNOs that comply with the payment conditions cobtained in the circular.

CBN and the NCC said they would provide further guidance on public enlightenment initiatives related to the transition.

The regulators also directed MNOs to implement the “10-seconds rule” for USSD invoicing.

This implies that any session lasting less than ten seconds will not be billable.

The regulators added, “Failure to comply with the terms outlined in this directive will attract necessary sanctions, ensuring that both DMBs and MNOs uphold their obligations.”


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NCC Launches Initiative to Combat Fraud, Spam Messaging

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Nigerian Communications Commission (NCC) has unveiled a draft regulatory framework aimed at addressing fraud, spam, and other challenges in the Application-to-Person messaging sector.

NCC Launches Initiative to Combat Fraud, Spam Messaging

The telecom regulator made this announcement in a statement.

The proposed framework, which was introduced during a virtual Stakeholders’ Forum, is said to be a key step towards enhancing the sector’s integrity and ensuring a fair, transparent environment for all parties involved.

The draft framework, presented by Aminu Maida, executive vice chairman, NCC, who was represented by Chizua Whyte, NCC’s acting head of legal and regulatory services, seeks to regulate the A2P messaging space.

The A2P messaging, used for notifications such as bank alerts, promotional campaigns, and government updates, has become a vital communication tool in Nigeria.

However, the sector faces significant challenges, including consumer protection concerns, fraud, and data privacy issues, as well as an unequal distribution of value within the ecosystem.

“The international A2P messaging space in Nigeria faces gaps that have led to issues such as fraud, spam, and data privacy concerns. These challenges threaten the sustainable growth of this communication tool,” the NCC said.

The proposed framework aims to address these challenges by protecting consumers, promoting fair competition, and holding service providers accountable.

“This forum marks a pivotal step towards addressing these challenges. We are here to engage with all stakeholders—operators, aggregators, businesses, service providers, and consumers—to refine the framework and ensure it meets the needs of the entire ecosystem.”

The NCC stressed the importance of inclusivity and collaboration in creating an effective regulatory environment.

 

 

 

 


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Airtel Africa to Return $100m to Shareholders via Share Buyback

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Airtel Africa, a provider of telecommunications and mobile money services, has announced the commencement of a second share buyback programme that will return up to $100m to shareholders.

Airtel Africa to Return $100m to Shareholders via Share Buyback

The share buyback reflects the Board’s confidence in the Company’s continued growth potential, the strength of its balance sheet, and the consistent cash accretion at the holding company level.

Furthermore, the buyback remains in line with the Company’s existing capital allocation policy.

According to the company, the programme will be executed in accordance with applicable securities laws and regulations.

The share buy-back programme is expected to be phased over two tranches, with the first tranche commencing today and anticipated to end on or before 24 April 2025.

The first tranche will amount to a maximum of $50m.

The Company has entered into an agreement with Barclays Capital Securities Limited (Barclays) to conduct the first tranche of the buy-back and carry out on-market purchases of its ordinary shares with the Company subsequently purchasing its ordinary shares from Barclays.

Under this agreement, Barclays will act as riskless principal and will make decisions independently of the Company.

The sole purpose of the buy-back programme is to reduce the capital of the Company.

It noted that as such, all shares purchased under the buy-back programme will be cancelled.

In a statement signed by Simon O’Hara, group company secretary, the company noted that the share repurchase process will adhere to pre-set parameters agreed upon with Barclays Capital Securities Limited (Barclays), the executing partner for the first tranche of the buyback programme.

This partnership ensures that purchases are conducted transparently and in compliance with all regulatory requirements.

The buyback will be executed under the authority granted by shareholders during the Annual General Meeting held on July 3, 2024, which permits the repurchase of up to 374,141,187 ordinary shares.

Following the completion of a prior buyback programme, the remaining authority allows for the acquisition of up to 328,842,995 shares.

Additionally, Airtel Africa confirmed its commitment to adhering to the Financial Conduct Authority’s UK Listing Rules 9.6 and the provisions of the Market Abuse Regulation (EU) No. 596/2014, as incorporated into UK domestic law.

The company also clarified that share purchases may occur during closed periods, consistent with these regulations and the agreed parameters.

 

 

 

 

 

 

 

 

 


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