Unsolicited SMS: Subscribers May Get N16bn Compensation From Telcom Operators
The Nigerian Communications Commission (NCC) says telecommunications firms may pay over N16 billion to subscribers as compensation for sending unsolicited text messages to them. According to Nigeria Communications Week, Umar Danbatta, executive vice-chairman of NCC, said this at the World Consumer Right Day (WCRD) 2017 in Abuja. Danbatta advised subscribers to report such incidents to the NCC and if it continued, necessary sanctions will be taken against the telecommunications provider.
As Oil Rebounds, Kachikwu Says Fluctuating Prices Pose No Immediate Threat
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said that the current fluctuations in oil prices pose no immediate threat to Nigeria’s economic recovery, even as oil prices on Wednesday inched up for the first time in more than a week on a surprise drawdown in U.S. crude inventories and data from the International Energy Agency (IEA) suggesting that OPEC cuts could create a crude deficit in the first half of 2017. Brent futures gained 89 cents, or 1.8 per cent to settle at $51.81 a barrel, their first increase in seven days. The global benchmark on Tuesday fell to its lowest level since November 30.
Nigeria’s Oil Production Declines, Active Rigs Rise
Nigeria, which again lost its Africa’s top oil producer status to Angola in January, has recorded further decline in its crude oil production, a new report from the Organisation of Petroleum Exporting Countries has indicated. OPEC, in its Monthly Oil Market Report for March 2017, put crude oil production from Nigeria at 1.526 million barrels per day in February, down from 1.533 million bpd in the previous month, based on direct communication. Production from its southern African counterpart, Angola, stood at 1.649 million bpd in February, up from the 1.615 million bpd recorded in January.
Adeosun Resolves PenCom, NAICOM Rift Over N140bn Annuity fund
The Minister of Finance, Mrs. Kemi Adeosun, has brokered a resolution of the dispute between the National Pension Commission and the National Insurance Commission over a circular issued by PenCom directing life insurance companies to transfer their annuity asset holdings to Pension Fund Custodians. The intervention of the minister was confirmed in a statement by the Director of Information, Ministry of Finance, Mr. Salisu Dambatta. There has been a disagreement between PenCom and NAICOM over a recent circular by the former asking life insurance companies to transfer about N145.05bn in annuity funds in their possession to the PFCs.
Google Trains 500,000 Young Nigerians In Digital Skills
Google on Wednesday announced that it has reached the one million milestone in its Digital Skills Africa programme. Out of the total figure, Google said about 500,000 were Nigerians. Some of the success stories of the programme were unveiled at an event which took place at George Hotel, Ikoyi, Lagos. The company had in April 2016 expressed its commitment to arm one million Africans with digital skills within a year.
GTBank Owed $138m By Etisalat
Guaranty Trust Bank Plc (GTBank) is exposed to Etisalat Nigeria to the tune of N42 billion ($138 million) via a secured loan. According to Reuters, the Chief Executive Officer, GTBank, Mr. Segun Agbaje, who disclosed this, said the debt would be restructured. The Nigerian affiliate of Abu Dhabi-listed telecoms company, Etisalat is currently in talks with 13 Nigerian banks to renegotiate the terms of a $1.2 billion loan it took out four years ago after missing a payment. The Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) have since waded into the matter.
NAFDAC Reacts To Court Ruling Declaring Fanta, Sprite Poisonous With Vitamin C
The National Agency for Food and Drug Administration and Control, NAFDAC, has filed an appeal and a motion to stay execution of a judgement on Sprite and Fanta soft drinks. The court berated NAFDAC for poor regulation of the products, popular among millions of Nigerians. In her reaction, the Acting Director General of NAFDAC, Yetunde Oni, through a text message from Vienna, Austria, observed that the agency is a national regulatory authority and would react both scientifically and legally to the judgement.
Yobe, Sokoto, Taraba Residents Paid Highest For Petrol In February – NBS
Residents of Yobe, Sokoto and Taraba states paid the highest average price of premium motor spirit (petrol) in February, the National Bureau of statistics, NBS, has said. According to a report released by the bureau on Tuesday, Yobe residents paid N177, while residents of Sokoto paid N162.1 and those of Taraba paid N161.7. The report noted that the average price paid by consumers for premium motor spirit (petrol) increased by 0.7 per cent to N149.8 in February 2017, from N148.7 in January 2017.
Govt To Declare Telecoms Facilities As Critical Infrastructure
The Federal Government is set to declare telecommunications facilities across the country as critical national infrastructure. The Minister of Communications, Mr. Adebayo Shittu, disclosed this at a reception and presentation of the Board of Commissioners of the Nigerian Communications Commission in Abuja on Tuesday night. Shittu also stated that the telecommunications sector had attracted $60bn investment since the introduction of digital mobile services in the country 17 years ago. The Executive Vice Chairman, NCC, Prof. Umar Danbatta, also explained that the regulatory agency intervened in the case of indebtedness between Etisalat and a consortium of banks to avoid the negative consequences of a takeover of the telecommunications company.
Helicopters Can Now Use Abuja Airport – Minister
The Minister of State for Aviation, Hadi Sirika, says helicopters are now free to fly in and out of the Nnamdi Azikiwe International Airport Abuja. Mr. Sirika made this known while fielding questions from State House correspondents in Abuja on Wednesday. The National Security Adviser, Babagana Munguno, had on Monday announced the ban on helicopter services in Abuja. The minister, however, said the office of the National Security Adviser has already modified its earlier directive banning the helicopters from the NAIA.