Nigerian telecoms companies have proposed a 100% tariff increase across voice, data, and digital services to the Nigerian Communications Commission (NCC) and are now awaiting approval. The proposal, which has already been submitted, aims to address rising operational costs such as inflation and increasing service delivery expenses. MTN Nigeria’s CEO, Karl Toriola, revealed the proposal…
The Nigeria Civil Aviation Authority (NCAA) revealed that 190 flights were cancelled and 5,225 delayed across Nigeria between September and October 2024. Chris Najomo, acting director-general of the NCAA, disclosed these figures on Friday, December 27, during an engagement session with airlines in Lagos. He expressed concern over the increasing rate of flight disruptions…
The Nigerian Communications Commission (NCC) has authorized the disconnection of Exchange Telecommunications Limited from the network of MTN Nigeria due to unpaid interconnect charges. Exchange Telecommunications, a local and international interconnect carrier, was found to have no sufficient justification for the non-settlement of its financial obligations, according to the NCC. In a statement…
The Nigerian Electricity Regulatory Commission (NERC) has disclosed that international customers owe $5.7 million for electricity supplied in the third quarter (Q3) of 2024. The debtors include Paras-SBEE and Transcorp-SBEE from the Benin Republic, Mainstream-NIGELEC from Niger, and Odukpani-CEET from Togo. Under an international treaty, Nigeria exports electricity to neighbouring countries like Benin Republic,…
TikTok’s rise from a niche video-sharing app to a global social media giant has sparked controversies worldwide, with concerns over its links to China and its influence on users and politics. In Albania, Prime Minister Edi Rama announced Saturday that TikTok would be banned for at least a year starting in 2025. The decision…
The Federal Government has lifted the ban on mining activities in Zamfara State, ending a five-year prohibition. The Minister of Solid Minerals Development, Dele Alake, through his representative Segun Tomori, announced the decision during a press briefing on Sunday, December 22. “The Federal Government has lifted the ban on mining exploration activities in…
Former International Monetary Fund chief Rodrigo Rato was on Friday, Dec. 20, sentenced to more than four years in prison by a Madrid court for tax crimes, money laundering and corruption. Judges found Rato, who was also a former economy minister in Spain, guilty of “three offences against the treasury, one offence of money laundering…
The Central Bank of Nigeria (CBN) has announced that eligible Bureau de Change (BDC) operators will have temporary access to the Nigerian Autonomous Foreign Exchange Market (NAFEM) to purchase $25,000 weekly. This arrangement, aimed at addressing seasonal foreign exchange (FX) demand, will be effective from December 19, 2024, to January 30, 2025. In a…
Three Nigerians made the Forbes List of the most powerful, impactful and wealthiest Black Americans in 2024. The Nigerians on the list are Wemimo Abbey, Tope Awotona and Adebayo Ogunlesi, all based in the United States. Abbey, 32, is the Cofounder and Co-CEO, Esusu, a New York fintech startup that helps renters build their credit…
The Central Bank of Nigeria has announced a fine of N150 million on Deposit Money Banks found guilty of giving out illegal flow of mint naira notes to currency hawkers across the country. The move was after the apex bank addressed recent misinformation about the validity of the old N1000, N500, and N200 banknotes…
