Business
5G: smartphone cost poses access barrier, says MTN
Nigeria’s fifth generation (5G) telecom service provider MTN has identified the high cost of 5G smartphones as a major entry barrier to customers.
Its Chief Marketing Officer, Adia Sowho, spoke yesterday during the unveiling of smartphone finance initiative with Intelligra.
He also said most financing schemes in the market are capped at $150.
She said the partnership with Intelligra, Stanbic Bank and other original equipment manufacturers (OEMs) would lead to easy access to mobile phones which will in turn lead to expansion of economic freedom.
READ ALSO:
- FG considering fresh borrowing from IMF – Finance minister
- SPDC to resume Forcados crude oil export end of October
- Teni speaks on her national honour, silent on ‘rude’ behaviour
She said 20,000 devices have been financed and hopes to achieve 1,000 unit daily financing transactions by next year.
Also speaking on the occasion, CEO of Intelligra, Tayo Ogundipe said the mission of the company is to partner with key stakeholders in driving digital and financial inclusion including accelerating smartphone adoption in the country.
According to him, the initiative will not be an OEM specific initiative but will give opportunities to everyone.
Currently, Nokia, Slot, Tecno, Credit Direct, Omali Agent Network are part of the deal.
Senior Manager, Devices, at MTN, Clement Nwankwo, said the marriage started in January this year with the aim of getting more Nigerians connected to enable them to do more with their smartphones taking advantage of the super-fast speed 5G is providing.
Nwankwo said by 2025, every Nigerian should be able to own a device to promote financial inclusion and improved lifestyle.
CEO Slot System, Nnamdi Ezigbo, expressed pleasure in partnering with giants, stressing that Intelligra’s strategy of device access is the best.
Business
Finally, NERC unbundles TCN, creates new system operator
Finally, NERC unbundles TCN, creates new system operator
The Nigerian Electricity Regulatory Commission (NERC) has set up the Nigerian Independent System Operator of Nigeria Limited (NISO) as it unbundles the Transmission Company of Nigeria (TCN).
The transmission leg of the power sector has over the years been seen as weakest link with obsolete equipment.
The unbundling announcement is contained in an Order dated April 30, 2023 and jointly signed by NERC chairman, Sanusi Garba, and vice chairman, Musiliu Oseni.
By this order, the TCN is expected to transfer all market and system operation functions to the new company.
The commission had previously issued transmission service provider (TSP) and system operations (SO) licences to the TCN, in accordance with the Electric Power Sector Reform Act.
The Electricity Act 2023, which came into effect on June 9, provided clearer guidelines for the incorporation and licensing of the independent system operator (ISO), as well as the transfer of assets and liabilities of TCN’s portion of the ISO.
In the circular, the commission ordered the Bureau of Public Enterprises (BPE) to incorporate, unfailingly on May 31, a private company limited by shares under the Companies and Allied Matters Act (CAMA), 2020.
NERC said the company is expected “to carry out the market and system operation functions stipulated in the Electricity Act and the terms and conditions of the system operation licence issued to the TCN.
“The name of the company shall, subject to availability at Corporate Affairs Commission, be the Nigerian Independent System Operator of Nigeria Limited (“NISO”),” NERC said.
Citing the object clause of the NISO’s memorandum of association (MOU) as provided in the Electricity Act, NERC said the company would “hold and manage all assets and liabilities pertaining to market and system operation on behalf of market participants and consumer groups or such stakeholders as the Commission may specify.”
Business
Naira depreciates again, trades at N1,402/$
Naira depreciates again, trades at N1,402/$
The Nigerian currency, naira, on Thursday slightly depreciated at the official market, trading at N1,402.67 to the dollar.
Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the naira lost N11.71
READ ALSO:
- Why I killed my one-year-old son – Delta woman
- Bandits kill nine civilian JTF members, kidnap three in Sokoto
- Yahaya Bello govt spending third term in office through Ododo – Clark
This represents a 0.84 per cent loss when compared to the previous trading date on Tuesday April 30, when it exchanged at 1,390.96 to a dollar.
However, the total daily turnover increased to 232.84 million dollars on Thursday, up from 225.36 million dollars recorded on Tuesday.
Meanwhile, at the Investor’s and Exporter’s (I&E) window, the naira traded between 1,445.00 and N1,299.42 against the dollar.
Naira depreciates again, trades at N1,402/$
Auto
Appeal court takes over NURTW case as NIC withdraws
Appeal court takes over NURTW case as NIC withdraws
The National Industrial Court has withdrawn from a case involving Alhaji Najeem Usman Yasin, Board of Trustees chairman of the National Union of Road Transport Workers (NURTW), and Alhaji Tajudeen Ibikunle Baruwa’s ambition to return as president of the union over lack of jurisdiction.
The industrial court’s decision was made to avoid conflict with the Court of Appeal, where the matter is already being heard.
Before the NIC announced its decision to hands-off the case, the defendants’ counsel, Mr. O.I. Olorundare SAN, had informed the court that the matter is currently before the Court of Appeal, Abuja division, and that the industrial court could not continue to adjudicate on the same matter.
The counsel cited authorities to support his claim, adding that the National Industrial Court does not have concurrent jurisdiction with the Court of Appeal.
The presiding judge, O.O. Oyewunmi, struck out the case, stating that the Appeal Court had taken over the matter and that the Industrial Court must respect the hierarchy of courts.
Alhaji Yasin and six others took the case to the Appeal Court, challenging the decision of the industrial court recognising a delegates’ conference held on May 24, 2023, where Baruwa was proclaimed as President of the union for a second term in office.
With the latest NIC judgement, both parties will now proceed to defend their positions at the Court of Appeal and await the final judgement.
-
metro3 days ago
Security forces, vigilantes arrest kidnapper terrorising communities in Kogi
-
metro3 days ago
19-year-old boy convicted for impregnating 14-year-old sister
-
metro3 days ago
Neighbour, son beat mother of four to death in Edo
-
News3 days ago
Drama as Delta workers boo Gov Oborevwori over minimum wage
-
News3 days ago
Adopt quarterly exchange rate for Customs duty, economist advises FG
-
International2 days ago
US students slam Biden’s comments on Gaza encampments
-
metro3 days ago
BREAKING: EFCC, Cubana Chief Priest agree to settle out of court
-
metro3 days ago
Three ‘EFCC officials’ arrested for kidnapping, robbery in Nasarawa