Sunday, July 21, 2019

Tag "MTN"

    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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    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 [...]

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    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 [...]

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    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 [...]

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    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 [...]

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    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 [...]

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    NAFDAC slams N1bn fine on Guinness

NAFDAC slams N1bn fine on Guinness

The National Agency for Food and Drug Administration and Control (NAFDAC) has imposed a fine of N1 billion on Guinness Nigeria Plc for allegedly re-validating expired raw materials without approval, Punch has reported.The agency also accused the company, which has been operating in Nigeria since 1962, of maintaining poor documentation and not complying with some of its regulations.The local unit of Diageo was given [...]

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    We may pay less than N1.04tr, says new MTN CEO

We may pay less than N1.04tr, says new MTN CEO

Phuthuma Nhleko, the new chief executive officer (CEO) of MTN Group, has hinted that the telecommunications company may not pay the entire N1.04tr fine of the Nigerian Communications Commission (NCC).Nhleko was named CEO of MTN after Sifiso Dabengwa stepped down as the chief executive officer on Monday.“I can't say whether we'll pay the whole fine. I don't want to negotiate [...]

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    Bruce: NCC fine damaging Nigeria more than MTN

Bruce: NCC fine damaging Nigeria more than MTN

Ben Murray Bruce, chairman senate committee on privatisation, has condemned the N1.04tr ($5.2bn) fine imposed on MTN Nigeria, saying it hurts Nigeria more than the telecommunications firm.The fine imposed by the Nigerian Communications Commission (NCC) was referred to by the senator as “probably the most damaging action ever taken against Nigeria's drive for Foreign Direct Investment”.“MTN is not without fault [...]

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    MTN ‘wants’ NCC fine reduced to N208bn

MTN ‘wants’ NCC fine reduced to N208bn

MTN Group is attempting a review of Nigerian Communications Commission (NCC) N1.04tr fine against it to N208bn while it works the Nigerian banking sector for loans to offset the it.Adesoji Solanke, head of research, Renaissance Capital (RenCap) in Nigeria, revealed this in his note to clients on Wednesday.“MTN is pushing to reduce the fine by 60 percent to 80 percent,” [...]

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    NCC renews MTN’s licence after N1.04tr fine

NCC renews MTN’s licence after N1.04tr fine

MTN Nigeria has announced the renewal of its operating spectrum and digital mobile licence by the Nigerian Communication Commission (NCC).Both were meant to expire in February 2016 but have been extended to August 31, 2021."We view this extension as a demonstration of confidence in MTN’s capacity to continue to provide ground-breaking and innovative services to its customers," MTN's corporate affairs [...]

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    MTN resumes JSE trading after brief suspension

MTN resumes JSE trading after brief suspension

MTN group has resumed trading on the Johannesburg Stock Exchange (JSE), after an initial suspension on Monday.The telecommunications company’s shares were halted few minutes before 11am on Monday, following controversies regarding its N1.04tr fine by the Nigerian Communications Commission (NCC).But MTN resumed trading at 1:40 pm, with warning to shareholders and investors to be cautious in dealing with the futures of [...]

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Exchange Rates

July 12, 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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