Achievements in broadband earn NCC, Danbatta NTITA awards

NTITA: Danbatta, NCC win fresh awards

The critical role being played by the Nigerian Communications Commission (NCC) under the leadership of its executive vice chairman, Umar Danbatta, in advancing the frontiers of broadband development has been recognised at this year’s edition of the Nigeria Tech Innovation and Telecoms Awards (NTITA), 2020. Regarded as the Oscars of Nigeria’s telecoms industry, the awards, powered by Instinctwave, Africa’s leading business-to-business event organizer in collaboration with the Association of Telecoms Companies of Nigeria (ATCON) in Abuja at the weekend, saw the Commission and other industry stakeholders, including the Hon. Minister…

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Nnamani receives special recognition at NTITA 2020

The Chief Executive Officer of Medallion Communications Limited, Engr. Ikechukwu Nnamani, was on Saturday given a special recognition at year’s Nigeria Tech Innovation & Telecom Awards (NTITA). According to InstintWave, the organizers of the annual award, the Medallion Boss was given the special recognition for his huge contributions to the Nigerian telecom industry, which has so many ways helped to bridge the digital divide. “We decided to give this special recognition award to Engr. Ikechukwu Nnamani for his contribution to the telecom sector,” said Mr. Akin Naphtal, coordination of the…

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Nigerian stock market advances with N641bn gain

5 stocks save major crash as investors take profit on 46 equities

The Nigerian equity market on Monday closed on a positive note with a gain of N641 billion to sustain a positive trend. The market breadth closed positive, recording only 49 losers as against 11 gainers. The key market performance indicators, the NSE All Share Index and market capitalisation, rose by 3.96 per cent as market sentiment remained positive. Consequently, the All-Share Index rose by 1,226.88 basis points or 3.96 per cent to close at 32.243.05 index points as against 31,016.17 it closed the previous day. Market capitalisation of equities appreciated…

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Analysts put economic losses to #EndSARS disruption at N1.5trn

Analysts put economic losses to #EndSARS disruption at N1.5trn

The economic cost of the #EndSARS protest disruption is estimated at N1.5 trillion, approximately 1.03 per cent of the GDP and 11.47 per cent of the 2021 budget, Financial Derivatives Company Limited has said. “This suggests that the economic recovery path could be longer than anticipated. Massive investment in job-elastic sectors with minimal control on the pricing mechanism will serve as catalysts and would ensure a sustained ‘take-off’,” the FDC, led by foremost economist Bismarck Rewane, said in its latest economic bulletin. Last month, a large number of Nigerians, mostly youths, protested…

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REGISTER: FirstBank hosts SME Webinar on rebuilding small businesses November 10

REGISTER: FirstBank hosts SME Webinar on rebuilding small businesses November 10

First Bank of Nigeria Limited is set host an SME webinar themed “Rebuilding your Business” by 10am on Tuesday, 10 November 2020 via Zoom meetings.   The event is organised in collaboration with FBN Insurance Brokers and FBN Quest with its discussants including: Tunde Owolabi, group executive, retail banking (Lagos & West), FirstBank; Olumide Ibidapo, MD/CEO FBNInsurance Brokers and Ijeoma Agboti, managing director, FBNQuest Funds. The financial institution said in a statement that as a brand committed to putting its stakeholders first, it has designed the webinar to empower the participants and…

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AMCON’s debt to CBN could hit N7trn by 2024

AMCON’s debt to CBN could hit N7trn by 2024

The total debt profile of Asset Management Corporation of Nigeria (AMCON) to the Central Bank of Nigeria (CBN) may spike to hit N7 trillion in the next five year. According to Ahmed Kuru, managing director and chief executive officer of the corporation said at the weekend in Abuja that AMCON currently owes the apex bank N4 trillion. Speaking at a two-day Annual Seminar for Justices of the Courts of Appeal which started on Friday, he warned that the debt could spike by as much as 75 per cent to N7…

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How Nigeria can overcome economic crisis, by Danbatta

Says 4IR offers greater revenue-earning potential _________________________ Umar Danbatta, the executive vice chairman of the Nigerian Communications Commission (NCC), has underscored the centrality of economic diversification and ethical leadership at all levels of government as panacea to the current economic headwinds in Nigeria. Danbatta stated this when he delivered a paper titled: “Ethical Leadership as an Instrument for National Sustainability in the Post-Oil Nigerian Economy. A Public Sector Perspective” at a two-day hybrid (online and onsite) Annual Directors Conference (ADC). At the event organized by the Institute of Directors (IoD) Nigeria earlier…

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Remote Work: Global public cloud revenue to hit $364.1bn in 2022

Remote Work: Global public cloud revenue to hit $364.1bn in 2022

Amazon, Microsoft Azure, Google, Alibaba clouds pull 33% growth in Q3’2020 ____________________________ Due to the global pandemic and the shift to remote work, the migration to cloud computing has accelerated in 2020. According to the research data analysed and published by StockApps, the global public cloud services market is projected to grow by 6.3 per cent in 2020. That would see the sector go up from a value of $242.7 billion in 2019 to $257.9 billion in 2020. It is expected to keep up the robust growth, reaching $306.9 billion…

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Bull-trend may continue on funds inflow, corporate numbers, profit-taking

Bull-trend may continue on funds inflow, corporate numbers, profit-taking

Market Update for the Week Ended November 6 and Outlook for Nov 9-13 By Investdata Analysts Transactions on the Nigerian Stock Exchange last week maintained a bullish transition for the seventh successive week, despite the seeming profit taking witnessed within the period, which is part of stock market dynamics. The continued maturity of investment in OMO bill and other fixed income instruments has supported the wave of funds inflow to the equities, which is the only asset class trending up and wealth creation opportunities for discerning investors and traders. This,…

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Nigerian equities mark seventh bullish week in a row

Despite sustaining weekly positive sentiments, the bullish momentum in the local bourse lost steam as investors took a breather to digest corporate earnings released thus far. In terms of activity levels, volume grew by 8.2 per cent w/w while value declined 4.1 per cent w/w. Supported by gains on the second (+0.8  per cent) and last trading (+0.9 per cent) days, the All-Share Index crawled above the 31,000 points psychological mark, closing at 31,016.17 basis points last week. Notably, investors’ interest in DANGCEM (+9.1 per cent), DANGSUGAR (+19.6 per cent),…

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