Telecom
FG Commends NCC’s Regulatory Strides
The Federal Government has commended the leadership of the Nigerian Communications Commission for the remarkable strides of the agency that has earned spectacular international reputation for Nigeria and placed the telecom regulator in the forefront of the nation’s quest for forward looking national economic growth.
Dr. William Alo, permanent secretary, Ministry of Communications and Digital Economy, said this recently while receiving the management team of NCC, led by Prof. Umar Garba Danbatta, executive vice chairman of the Commission, who briefed him on the status of the industry after his recent appointment to the Ministry.
“So far so good. The entire country, and beyond, is fully aware of the strategic importance of the NCC as a regulating institution of the telecommunications industry in Nigeria. And, of course, we are aware today that between oil and communications, the latter is gradually taking over in the provision of revenue for the country as the nation strives to diversify the economy,” he said.
He said of a truth, the quality of service has improved tremendously over the past few years now and that the Commission deserves a pat on the back for what it has done in that direction. “Your efforts are generally felt in the economy. So when you talk of digitalization of the economy the NCC and the operators are the first port of call.”
He requested the leadership of the Commission to continue the good work and also strive to mind and bridge the infrastructure gap that may create a gap between the served and underserved communities in the country.
Danbatta, who provided a detailed briefing about the achievements of the Commission and its efforts toward addressing all the challenges confronting the industry, intimated him with the key focus and targets of the Commission through the launched of the Strategic Vision (Implementation) Plan SVP 2021 – 2025, which took into consideration, the provisions of the National Digital Economy Policy and Strategy 2020-2030, and National Broadband Plan 2020-2025.
He said the SVP, which streamlines all policies for a robust sectoral lifting and relevance, has five focus areas which include: operational efficiency and regulatory excellence; facilitation of infrastructure provision for the digital economy; promotion of fair competition, inclusive growth and investment; improvement of quality of serve and quality of experience; and facilitation of strategic collaboration and partnership.
Prof Danbatta who led a team of two executive commissioners and directors of the Commission to the briefing, listed successes recorded since 2015 in teledensity, broadband penetration, and significant contribution of the industry to the gross domestic product (GDP) that grew from 8.5 per cent in the 4th quarter of 2015 to 12.61 in the 4th quarter of 2021, as the sector also attracted over $2 billion in foreign direct investment over the period.
The NCC chief executive listed some other key achievements of the Commission under him to include the recent successful auction of 3.5GHz spectrum for 5G services, licensing of 7 fibre optics infrastructure providers, and adding up to 38,296 kilometers of fibre optic in the country.
Danbatta noted that access gap clusters in the country has been reduced from 217 to 114 to enable 15 million Nigerians have access to telecommunications services, and increase of fibre optics deployments from 47,000 kilometers to 54,725 kilometers.
The EVC revealed that the 3G and 4G Base Transceiver Stations (BTS) in the country has increased from less than 30,000 in 2015 to 53,460 while 7 VSAT gateway earth stations have been licensed to boost broadband penetration in the country.
He informed the new Permanent Secretary that the Commission under him has also remitted N463 billion to the Consolidated Revenue Fund from 2015 to April 2022, while landing permits have been issued to 53 Geo Satellite Orbits space stations and 923 non-GSO space stations.
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.
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