Thursday, February 21, 2019

Tag "MTN"

    Zuma ‘could discuss’ MTN fine with Buhari

Zuma ‘could discuss’ MTN fine with Buhari

The federal government will soon hold talks with MTN Nigeria to finalise the negotiation of the fine imposed on the telco by the Nigerian Communications Commission (NCC).The regulatory agency slammed a N1.04 trillion fine on MTN for failing to deactivate 5.1 million unregistered SIM cards and later reduced the fine to N780 billion after the first round of negotiations.According to [...]

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    NCC imposes fresh fine on MTN

NCC imposes fresh fine on MTN

The Nigerian Communications Commission (NCC) has imposed a fine of N12 million on MTN Nigeria for breach of the Mobile Number Portability (MNP) business rules and regulations.The regulatory body also slammed a sanction of N22 million against Globacom Ltd (Glo) over the same offence.This was revealed in NCC’s 2015 Q4 compliance monitoring and enforcement report.In its Q3 report, NCC had [...]

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    Rickey Tarfa withdraws N5bn suit against EFCC

Rickey Tarfa withdraws N5bn suit against EFCC

Rickey Tarfa, a senior advocate of Nigeria (SAN), has withdrawn the N5 billion suit he filed against MTN Nigeria, the Economic and Financial Crimes Commission (EFCC) and three others.The anti-graft agency arrested him on February 5 for allegedly shielding two suspects from justice, and he was arraigned in court.However, in the suit filed before a Lagos high court, Tarfa accused [...]

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    Nigerian market cut our profit by 20%, says  MTN

Nigerian market cut our profit by 20%, says  MTN

MTN Group, South African telecommunications giant, says its full-year profit is expected to fall by at least 20 percent due to its weak performance in the Nigerian market.MTN, as quoted by Reuters, said the profit warning did not include a $3.9 billion fine imposed Nigerian authorities in 2015 for failing to cut off unregistered SIM card users.The company added that [...]

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    Etisalat clarifies lawsuit against MTN, NCC

Etisalat clarifies lawsuit against MTN, NCC

Etisalat Nigeria says it is not suing MTN Nigeria and the Nigerian Communications Commission (NCC) over tariff, but over plans to entrench its dominance in the retail data services market.TheCable had earlier reported that Etisalat was suing MTN for undue dominance, hinged on MTN's acquisition of Visafone’s 800 megahertz (MHz) spectrum.Refuting some other reports in the media, Etisalat said it [...]

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    Etisalat sues MTN for acquiring Visafone

Etisalat sues MTN for acquiring Visafone

Etisalat Nigeria has filed a law suit against MTN Nigeria to hinder the telecommunications company from further entrenching its dominance in the country.The law suit is hinged on MTN’s recent acquisition of Visafone, announced in January 2016 but approved back in the last quarter of 2015.In a statement on Monday, Etisalat said MTN had been declared dominant by the Nigerian [...]

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    MTN ‘hires’ ex US attorney-general over NCC fine

MTN ‘hires’ ex US attorney-general over NCC fine

Two weeks after seeking an out-of-court settlement in its suit against the N1.04 trillion fine imposed by the Nigerian Communications Commission (NCC), MTN has hired Eric Holder, former US attorney-general, to intervene on its behalf.MTN attracted the penalty for failing to disconnect 5.2 million unregistered lines.According to Financial Times, Holder visited Abuja in January to plead with top government officials.“His [...]

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    NCC: We’re ready to settle out of court with MTN  

NCC: We’re ready to settle out of court with MTN  

The Nigerian Communications Commission (NCC) says it is ready to settle the N780 billion fine with MTN out of court and amicably.Garba Danbatta, the executive vice chairman of the NCC, made the disclosure on Wednesday, adding that the intention is not to kill MTN.“They (MTN) are trying to get this settled amicably. We have been since then informed by our [...]

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    We are not owing Cameroon, says MTN

We are not owing Cameroon, says MTN

South African telecommunications giant MTN has denied owing Cameroonian authorities, contradicting the claim of the government agency which accused the telco of failing to pay taxes on games and gambling services.According to Reuters, Cameroon's National Anti-Corruption Commission (CONAC) said the local units of MTN and France's Orange owed the country nearly $166 million in unpaid taxes."MTN Cameroon is not and [...]

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    Cameroon fines MTN for ‘tax evasion’

Cameroon fines MTN for ‘tax evasion’

Cameroonian anti-corruption authorities have slammed South African telecommunications giant MTN with fresh fine over tax evasion.MTN and Orange telecoms bagged over N32 billion ($160 million) fine for failing to pay taxes on games and gambling services, the central African nation’s corruption board said on Wednesday.According to Reuters, a wide-reaching probe into the sector led to fines totalling N57 billion ($283 [...]

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    TSA, naira crash, oil doom: What a year!

TSA, naira crash, oil doom: What a year!

Year 2015 was indeed a terrific year for business in Nigeria. In some  quarters, it is believed to be the worst year to be a financial  journalist since 2008 global economic recession.The economy was full of ups and downs, the decisions came slow and steady, fast and hard. From MTN to NCC, to treasure single account (TSA), there were a [...]

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    NCC halts action on MTN over court ruling

NCC halts action on MTN over court ruling

Nigerian Communications Commission (NCC) says it would suspend actions on the fine imposed on MTN Nigeria until the court gives its verdict.The largest telecommunication outfit in the country filed a suit in the court to challenge the punitive measure of the commission.Commenting on the issue in a chat with Reuters,  Adebayo Shittu, the minister of communications, who spoke through Victor Oluwadamilare, his media [...]

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    NCC files criminal charges against MTN

NCC files criminal charges against MTN

The Nigerian Copyright Commission (NCC) has filed criminal charges against MTN Nigeria  and Ferdi Moolman, its chief executive officer, over alleged copyright infringement.The charge with number ABJ/CR/379/2015 filed in the federal high court, Abuja was obtained by NAN on Friday.In the two-count-charge signed by Marypauline Olere-Luma; NCC's prosecutor and copyright inspector, MTN and Moolman were alleged to have infringed on copies [...]

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    FG will seek foreign loan in 2016, says Adeosun

FG will seek foreign loan in 2016, says Adeosun

Kemi Adeosun, minister of finance, says Nigeria would borrow internationally and locally to fund the deficit in the 2016 budget.In a chat with Bloomberg, Adeosun explained that the decision was considered in light of the pressure confronting the economy as a result of plunging oil prices in the global crude market.She said MTN's fine, which has been reduced to N780 [...]

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    NCC: Reducing MTN’s fine by 35% was a typo

NCC: Reducing MTN’s fine by 35% was a typo

Nigerian Communications Commission says it made a typographical error in reducing MTN Nigeria’s fine by 35 percent.After sending a second letter which led to confusion at MTN, the regulator said it intended to reduce the fine by only 25 percent.Tony Ojobo, NCC spokesperson, was quoted by Reuters to have said “the information that was conveyed to them initially said 35 (percent [...]

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    I don’t have shares in Etisalat, says el-Rufai

I don’t have shares in Etisalat, says el-Rufai

Nasir el-Rufai, governor of Kaduna state, has refuted the reports making rounds that he owns interest in Etisalat Nigeria Plc.In a statement issued by Muyiwa Adekeye, his special adviser on media and communications, the governor warned those behind the rumor to stop peddling falsehood against him.The statement gave clarity on what transpired at the Nigerian governors’ forum, where the issue [...]

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Exchange Rates

February 18, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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