Saturday, November 17, 2018

Tag "MTN"

    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 [...]

0 comment Read Full Article
    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 [...]

0 comment Read Full Article
    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 [...]

0 comment Read Full Article
    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 [...]

0 comment Read Full Article
    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 [...]

0 comment Read Full Article
    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 [...]

0 comment Read Full Article
    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 [...]

0 comment Read Full Article
    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 [...]

0 comment Read Full Article
    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 [...]

1 comment Read Full Article
    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 [...]

2 comments Read Full Article
    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 [...]

0 comment Read Full Article
    We don’t want MTN to die but only Buhari can decide its fate, says minister

We don’t want MTN to die but only Buhari can decide its fate, says minister

Adebayo Shittu, minister of communications, has expressed love for MTN in relation to the fine that the Nigerian authorities slammed on the telco, but he said the company's fate would be determined by President Muhammadu Buhari.In an interview with leading information technology news outlet, Technology Times, Shittu said, as an MTN subscriber, he does not want "to let go" of [...]

0 comment Read Full Article
    NCC threatens to impose fresh fine on MTN

NCC threatens to impose fresh fine on MTN

The Nigerian Communications Commission (NCC) has threatened to impose a fresh fine on MTN which is yet to pay the N1.04 trillion fine slammed on it earlier for failing to deactivate 5.1 million unregistered SIM cards.The commission made this known in its '2015 3Q compliance monitoring and enforcement report’, saying Airtel and Globacom also risk being sanctioned for defying its [...]

0 comment Read Full Article
    Ugandan court slams $622,000 fine on MTN

Ugandan court slams $622,000 fine on MTN

The fine on MTN group has risen by $622,000 as a commercial court in Uganda ruled that the telecommunications firm pay for sabotaging EzeeMoney Limited.According to an Ugandan newspaper, Daily Monitor, Henry Adonyo, the presiding judge ordered MTN Uganda to pay Shs800m ($239,520) in general damages for loss of business and Shs1.5b ($449,100) to EzeeMoney as punitive damages, saying it [...]

0 comment Read Full Article
    NCC ‘shifts ground’ on MTN fine deadline

NCC ‘shifts ground’ on MTN fine deadline

The Nigerian Communications Commission (NCC) has shifted grounds on the November 16 deadline it gave MTN Nigeria to pay a fine of N1.04tr, the telco has said.In a statement addressed to its shareholders on Monday, MTN said its newly-appointed chief executive officer, Phuthuma Nhleko, is leading talks with NCC to review the fine.“Shareholders are advised that the executive chairman of [...]

0 comment Read Full Article
    MTN seeks ‘staggered’ payment of N1.04trn fine’

MTN seeks ‘staggered’ payment of N1.04trn fine’

MTN Nigeria wants the Nigerian Communications Commission (NCC) to spread the payment of the huge fine imposed on it, according to Reuters.Quoting a source, the news agency said the biggest mobile phone operator in Africa made the request on Friday at a meeting with high-level government officials.“At the meeting, MTN pleaded passionately for staggered payment since the option of reduction [...]

0 comment Read Full Article
Advertisement
Advertisement

 

Advertisement

Advertisement

Exchange Rates

November 16, 2018USDGBPEUR
INTERBANK306397354
LAGOS359475418
KANO359476420
PH360476420
ABUJA359478419
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
Advertisement
Advertisement
Advertisement