Economy
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NCC tasks telcos on network security, consumer safety
The Nigerian Communications Commission (NCC) has directed Mobile Network Operators (MNOs) and Internet Service Providers (ISP) in the country to comply with regulatory frameworks emplaced by the Commission towards ensuring security and safety of their networks for telecom consumers. The Executive Vice Chairman and Chief Executive Officer (EVC/CEO) of the Commission, Prof. Umar Danbatta, gave the charge at the 2023…
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SEC assures of commitment to market digitalization
The Securities and Exchange Commission (SEC) has stated that it will continue to collaborate with various market stakeholders to support impactful digitalisation of the capital market. The assurance was given by Director General of the SEC, Mr. Lamido Yuguda during an interaction in Lagos. Yuguda said the demographics of the capital market currently is greying adding that it is one…
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Naira floats at I&E rate to N755/$
Nigeria has officially floated its naira currency after years of sticking with a hard peg that spooked investors and drained dollars from the economy. The Investors & Exporters (I & E FX) window is now quoting at a range between N750 -N755 against the dollar. According to a report by BusinessDay on Wednesday, the market rate based on a willing…
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Nigeria’s telecom access gaps drop by 53%
The number of identified areas of clusters across Nigeria without access to the telecommunications services has been reduced by 53.1 per cent as at the end of 2022. The Executive Vice Chairman and Chief Executive Officer of the Commission, Prof. Umar Garba Danbatta, disclosed this at a recent telecoms industry stakeholders forum in Yenagoa, Bayelsa State. Danbatta, who was represented…
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REPORT: Tinubu’s 15 days in office leave investors excited about Nigeria
Nigeria’s President Bola Tinubu has pulled the right levers for markets: ridding the country of a costly fuel subsidy, removing a controversial central bank governor, and promising to unify a web of varying exchange rates. Foreign investors have embraced those decisions, sending Nigeria’s dollar debt surging on Monday. Tinubu set the tone in his inauguration speech on May 29, when…
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Danbatta receives APPON award, assures of broadband support for e-procurement
The Association of Public Procurement Practitioners of Nigeria (APPON) has conferred the Executive Vice Chairman and Chief Executive Officer of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, with the “Excellent Service Delivery and Accountability Award”. The award was in recognition of Danbatta’s outstanding performance and contribution to the canons of the public procurement profession in Nigeria by ensuring that the…
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Emefiele’s DSS arrest reset policy, positive market response, says report
Markets are likely to respond positively to the weekend ouster of Nigeria’s central bank governor, Mr. Godwin Emefiele which will allow President Bola Tinubu to better pursue his promise of resetting monetary policy that’s been blamed for crippling Africa’s biggest economy. Emefiele was suspended by Tinubu after financial markets closed on Friday, and detained by Nigeria’s state security service a…
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Lawamaker, Nnolim, denies demanding 5% Nigeria Air stake from Sirika
Former Chairman of the House of Representatives Committee on Aviation, Nnaji Nnolim, has denied demanding five per cent equity of Nigeria Air from ex-Minister of Aviation, Hadi Sirika. Sirika, while speaking on Arise TV on Sunday, had accused Nnolim of demanding five per cent from him for himself and “his people”. “He (Nnaji) asked to give him five percent of…
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Air Peace, local airlines have no capacity to be national carrier – Hadi Sirika
Former Minister of Aviation, Hadi Sirika has said no local airline in the country had the capacity to be a national carrier. Sirika who was speaking on Arise TV on Sunday, was reacting to allegations of fraud raised on the unveiling of Nigeria Air. Sirika said the aviaition ministry under his watch had given local airlines in the country all…
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Obasanjo backs quest to support 25,000 Nigerians in business annually
By Kolawole Olayinka, Abeokuta Former President, Chief Olusegun Obasanjo said he is in support of the move by Business Network International (BNI) in Nigeria to support 25,000 businesses annually as it would improve the human capital development of the country. Obasanjo also noted that plans by BNI to support one million families through growth in employment and value creation and…
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