General News
NCC Commends TSSF, Reiterates Commitment to Creating Enabling Environment for ISPs
The Nigerian Communications Commission, NCC, has commended the Telecoms Sector Sustainability Forum (TSSF) initiative organised by Business Remarks for creating an opportunity for industry stakeholders and the advancement of telecommunications development in Nigeria.
NCC expressed its support for the initiative during its maiden edition event held in Lagos, with the Theme “Examining the Nigerian Internet Service Providers Viability in a Digitized Environment”.
The Nigerian telecommunications regulator noted that the forum has provided the Internet Service Providers (ISPs) stakeholders with an opportunity to brainstorm and share perspectives about their expectations, strategies and the way forward will regards to Internet Service Provision.
While commending Business Remarks for the initiative, Prof Umar Danbatta, Executive Vice Chairman (EVC) of NCC, said TSSF will afford stakeholders the opportunity to discuss policies, regulatory directions as well as challenges that would lead to predictable outcomes which will impact the Nigeria internet service provisions sub-sector in particular and the Nigerian telecommunications sector at large.
Danbatta who was represented by NCC Zonal Controller, Mr Yomi Arowosafe reiterated the commission’s commitment to creating enabling environment for ISPs in Nigeria.
According to the NCC Boss, the National Policy on Digitization and the National Broadband Plan 2020 – 2025 can only be facilitated through internet service provision and its implementation can make Nigeria compete favourably in the world economy.
“The digitisation of the economy can only come into being when the ISPs are fully encouraged and that is what the commission is focusing on to ensure the enabling environment is created through the development of regulatory instruments that will address the concerns of ISPs in particular and the telecommunication sector at large.
The Executive Vice Chairman, NCC, Prof. Umar Danbatta, who informed that a total of 756 companies had been licensed as ISPs in Nigeria as of March 2022, but only 188 of them are currently active, said several issues including inadequate spectrum, the high price of bandwidth, high cost of Right of Way, and lack of good corporate governance practice in some of the companies have contributed in some of the licensed operators becoming inactive.
While noting that efforts are being put in place by the regulator to address the issues, Danbatta said: “As a result of these challenges, deliberate policies and regulations are being looked at in the Commission in ensuring that ISPs and other smaller players in the industry thrive.
“Some of the measures the Commission has embarked upon to continue to promote fair play and orderly development of the Nigerian communications ecosystem as well as boost competitiveness of the industry include providing the required regulatory frameworks and interventions in terms of policies, guidelines, and determinations, among others, that will encourage fair play in the telecommunications industry.”
In her opening speech, the convener of the Forum and Managing Editor of Business Remarks, Mrs Bukola Olanrewaju said: “The word has become a global village. This accurately sums up the important role internet plays in connecting businesses and people globally.
“Given the internet’s increasingly important role and adoption, the shift to digital economy offers abundant opportunities, in which connectivity plays a key role.
“However, over the years, studies have shown that the license renewal rate of ISPs in Nigeria continues to drop, even as others take up the license. In view of the critical need for internet connectivity for the digital economy and mass digitalisation of Nigeria, the role of ISPs is central also for uptake of internet of things (IoT).”
Some ISPs at the event sought the intervention of the Central Bank of Nigeria (CBN) to access foreign exchange (forex) to boost their operations and resuscitate the sub-sector.
They also want the Federal Government to grant them waivers and uniform payment for the right of way (RoW) with the tier one players in the industry.
General News
FlashChange Partners Ruth Foundation to Empower Vulnerable Children in Alimosho with Skill Acquisition
In an inspiring initiative to uplift the next generation, FlashChange and Ruth Foundation have successfully implemented the “Orphanage Skill Acquisition Assembly 2.0 program,” a skills empowerment program for vulnerable children in Alimosho, Local Government Area of Lagos state.
The five-day programme, which began on Monday, April 14, was created to equip vulnerable children aged 4 to 18 years with essential life skills such as financial literacy, fashion design, photography, creative arts, cooking, and leadership development
Speaking at the closing ceremony of this year’s edition of the programme, the Chief Operating Officer, Flashchange, Olamide Ajibola said, “We are delighted to be part of this life-changing initiative.
“At FlashChange, we believe that children are the heartbeat of every community, by investing in their development today, we are not just shaping the future of individuals but nurturing future leaders, creators, and change-makers that would make a positive contribution to the growth and development of the society in the near future.”
“Initiatives of this nature gladdens our heart and we are open and willing to participate in them at any time. In the coming months, we hope to do more in that area as our own little way of improving society. This is in line with our CSR pillars, which include human capital development.”
Ajibola appreciated the benefitting children for accepting to be part of the life changing training which has the capacity to catapult them to a brighter future. The facilitators were also commended for impacting the children with the skills and knowledge to help shape their lives.
The founder Ruth Foundation, Itunuoluwa Ruth Da-Silva, in her remarks, expressed the foundation’s deepest appreciation to partnering organizations like FlashChange for believing in the vision and throwing their full weight behind it.
She said, “It will interest you to know that 153 vulnerable children benefitted from the Orphanage Skill Acquisition Assembly 2.0 programme and the training ran simultaneously at Compassionate Orphanage home; Precious Pearl Orphanage; Little Saints Orphanage and House of Mercy Orphanage respectively. Providing the children access to knowledge and skills early in life to create a ripple effect that can transform the entire community.”
The Chief Marketing Officer, FlashChange Jesujoba Ojelabi commended Ruth foundation for the initiative and urged the children to take the skills learnt seriously, as it has the capacity to change their lives for good.
He said, “As a company, we would be proud to lend our support to the foundation whenever we are called upon to do so in the future. My candid advice to you children would be this, to be great ambassadors of this initiative, you need to continuously put to practice the skills and knowledge you have acquired from the programme. We are indeed proud of you all and the success stories recorded so far.”
To support the continuous development of the children the following items were donated; electric sewing machine, cake mixer; packs of Yeye yarn, packs of pins, some stitch markers, scissors, measuring scale, make-up kit box filled with make-up tools among several others.
FlashChange and Ruth Foundation therefore urge community leaders, government organizations, private sector partners, and stakeholders to support programmes of this nature aimed at equipping children with the skills they need to thrive in a world that is evolving quickly.
Economic and Financial Crimes Commission, EFCC, has dismissed the claims that the defunct digital asset trading platform, CBEX, was registered with its Special Control Unit against Money Laundering, SCUML.
However, EFCC stated that ST Technologies and not CBEX registered with SCUML, saying that the certificate didn’t imply clearance by the Commission.
The clarification comes after Lesley Kessy Oviritsa, one of the victims of the CBEX Ponzi Scheme said she fell prey to CBEX after seeing and verifying its CAC and SCUML Certificate.
Oviritsa claimed they had no reason to suspect foul play, especially since they claimed their SEC certificate would be ready by May 2025.
Nigeria CommunicationsWeek reported how CBEX swept over N1.3 trillion from their investors’ accounts.
In a post on its official handle on X on Monday, EFCC said the Commission is not a clearing house or regulatory authority of online businesses.
The post read: “SCUML Certificate Is Not CLEARANCE BY EFCC.
“ST Technologies (not CBEX) registered with the Special Control Unit against Money Laundering, SCUML in line with Section 17 of the Money Laundering, (Prevention & Prohibition) Act, 2022.
“Registration is a statutory requirement for all Designated Non-Financial Businesses and Professions, DNFBPs, in Nigeria in consonance with Nigeria’s Anti-Money Laundering/ Control of Financing Terrorism, AML/CFT regime.
“The EFCC is not a clearing house or regulatory authority of online businesses.
“But financial fraud of any kind is the remit of the Commission, and it is committed to ensuring justice for victims of the CBEX scam.”
MoMo PSB, a subsidiary of MTN Nigeria and a leading provider of digital financial services, has unveiled its Customer Refer & Win Promo, an exciting initiative aimed at rewarding loyal customers with free airtime or data for life.
This campaign underscores MoMo PSB’s commitment to advancing financial inclusion and enhancing the digital banking experience for millions of Nigerians.
The promo offers customers the chance to win incredible prizes, including free airtime or data every month for 50 years for 11 lucky winners, and consolation prizes for 110 winners who will receive airtime or data every month for one year.
Open to both new and existing customers, the initiative encourages participants to perform qualifying transactions and refer friends and family to activate or reactivate their accounts.
Phrase Lubega, CEO of MoMo PSB, emphasized the company’s dedication to customer satisfaction and seamless financial transactions. “This initiative is about giving back to our customers while promoting the ease and convenience of using MoMo for everyday transactions.
“By simply transacting on the platform, customers get the chance to enjoy free airtime and data for life, an offer that truly rewards their loyalty,” he said.
To participate, customers must complete eligible transactions such as MoMo-to-MoMo transfers, other bank transfers, bill payments, betting wallet top-ups, and airtime/data purchases.
Referrals also earn participants an instant 100MB for every active referral. Weekly electronic draws will determine winners, with the promo running for 12 weeks from April 3rd to June 25th, 2025.
MoMo PSB will also engage users through nationwide activations, interactive sessions, and digital campaigns to drive awareness and participation.
This initiative further solidifies MoMo PSB’s role as a key player in Nigeria’s financial services sector, offering innovative solutions that simplify transactions and enhance customer satisfaction.
How Nigerian Banks Earned N14.26 Trillion in Interest Income in 2024
UN Says Billion-Dollar Cyberscam Industry spreading Globally
Digital Transformation Remains Africa’s Gateway to Economic Advancement – Adumike
FlashChange Partners Ruth Foundation to Empower Vulnerable Children in Alimosho with Skill Acquisition
CBN, NGX Group Defend Economic Reforms at Nasdaq
We’re Confident in the Super Eagles – Karl Toriola
FG to Harmonise Fiscal Data Across MDAs
SEC Declares War on Capital Market Fraudsters
EFCC Arrests 133 @ Ponzi Scheme Training Academy
FG, UK FCDO, and Ghana Partner to Launch Sankore
Telecom2 days agoMTN Nigeria Takes Broadband Services to the Next Level with FibreX Launch
News2 days agoSERAP Files Lawsuit Against NBC Over Ban on Eedris Abdulkareem’s Protest Song Tell Your Papa
Telecom24 hours agoDigital Transformation Remains Africa’s Gateway to Economic Advancement – Adumike
Telecom24 hours agoPAFON 2.0: Experts Discuss Pathways to Boost Financial Inclusion in Nigeria
E-Financial2 days agoFCMB Group Redefines Corporate Storytelling with The Power Of The Group TVC
E-Financial24 hours agoCBN, NGX Group Defend Economic Reforms at Nasdaq
General News24 hours agoEFCC Clarifies SCUML Certificate Misuse amid CBEX Ponzi Scheme Scandal
General News24 hours agoFlashChange Partners Ruth Foundation to Empower Vulnerable Children in Alimosho with Skill Acquisition