News - Business Metrics

FirstBank convenes webinar on information security Friday

Apr 15, 2021 Ugochi Emmanuel

FirstBank convenes webinar on information security Friday FirstBank of Nigeria Limited, Nigeria’s leading financial inclusion services provider has announced a webinar to sensitise individuals and businesses with useful information on being protected in today’s digital age. The virtual event is scheduled to hold by noon on Friday, 16 April 2021 with “Staying Protected Amidst the Pandemic Chaos” being the topic to be discussed at the event. According to a statement from the lender, registration for the event is ongoing via the link https://firstbanknigeria.zoom.us/webinar/register/WN_PUnqA7enTMG8o0OfOaWxlg The bank explained that today’s…

FG to auction N150bn bonds in April

Apr 15, 2021Apr 15, 2021 Ugochi Emmanuel

FG to auction N150bn bonds in April The Debt Management Office (DMO) on Wednesday disclosed that the Federal Government would offer N150 billion bonds for subscription in April. A circular by the DMO on its website showed that the breakdown of bonds comprised of three bonds worth N50 billion each. They are 10-year reopening bond to be offered at the rate of 16.2884 per cent and to mature in March 2027; a 15- year reopening bond to be offered at 12.5 per cent and mature in March 2035;…

Lagos charges from N1.37m to N2.7m for 2021 Umrah packages

Apr 14, 2021 Banjo Olaniran

Lagos charges from N1.37m to N2.7m for 2021 Umrah packages Muslim faithfuls willing to observe the 2021 Umrah (lesser Hajj) in Saudi Arabia through the Lagos State government will have to pay N1.37 million or N2.7 million. A statement issued by the Lagos State Muslim Pilgrims Welfare Board disclosed that the amount is the least package fees. “The first package at a cost of N1.37 million includes stay at a 3-star hotel; Sahur (morning meal) and Iftar (evening meal) in Nigerian delicacies; economy class ticket with a reputable…

Nigeria: Electricity generation plunges below 4,000 megawatts

Apr 12, 2021 Banjo Olaniran

Nigeria: Electricity generation plunges below 4,000 megawatts Electricity generation in the country fell below the 4,000 megawatts mark on Sunday as 11 plants were idle, even as several others suffered declines in the output. Total power generation fell to 3,922.2MW as of 6am on Sunday from 4,394MW on Saturday, according to data obtained from the Nigerian Electricity System Operator. Eleven of the power plants on the national grid did not generate any megawatts of electricity as of 6am on Sunday. The idle plants included six of those built under…

NCC Renews MTN’s Licence For 10 Years

Apr 8, 2021 Business Metrics

NCC Renews MTN’s Licence For 10 Years Telecommunications regulator, Nigerian Communications Commission (NCC), has renewed the operating licence of MTN Nigeria, it has been learnt. According to the licensees’ database of the Commission, MTN’s current Unified Access Services (UAS) licence, which is to expire by August 31, 2021, has now been extended by another 10 years to expire on August 31, 2031. MTN’s operating spectrum, which was issued along with the digital-mobile licence in 2001, had an original expiry date of February 2016. The company, however, paid the sum…

Oscar Onyema completes tenure as CEO of Nigerian Stock Exchange

Apr 7, 2021 Ugochi Emmanuel

Oscar Onyema completes tenure as CEO of Nigerian Stock Exchange Oscar Onyema has completed his tenure as the chief executive officer (CEO) of the Nigerian Stock Exchange (NSE) following the successful demutualisation of the exchange that transitioned Onyema into the Group Chief Executive Officer (GCEO) of Nigerian Exchange Group (NGX Group) Plc. In commemoration of his exemplary leadership, he was honoured with a digital Closing Gong Ceremony on Thursday, 1 April 2021, a press statement from the exchange said on Tuesday. Speaking at the Closing Gong Ceremony, the…

Pantami engages CBN, NCC over USSD dispute between MTN, Nigerian banks

Apr 3, 2021 Ugochi Emmanuel

Pantami engages CBN, NCC over USSD dispute between MTN, Nigerian banks Isa Pantami, the Nigerian Minister of Communications and Digital Economy, said he had the Nigerian bank and telecoms regulators over an ongoing dispute between MTN Nigeria and deposit money banks in the countries. As earlier recorded by Business Metrics, the dispute bothers on percentage commission due Value Added Service (VAS) aggregators for Unstructured supplementary service data (USSD) transaction conducted on MTN’s network. In a tweet on his official Twitter handle, the minister stated that “On the fallout…

MTN expands MoMo cardless cash withdrawal service to over 40 banks, financial institutions

Apr 1, 2021 Ugochi Emmanuel

MTN says its mobile money operation worth $6bn

MTN expands MoMo cardless cash withdrawal service Mobile money service provider, Y’ello Digital Financial Services, has announced the expansion of its MoMo Agent cardless cash withdrawal service to over 40 banks and other financial institutions nationwide. Initially exclusive to Access Bank, the service has now been extended to include First Bank of Nigeria, Zenith Bank, GTBank Plc, United Bank of Africa and other tier-one commercial banks, according to a statement issued by MTN Nigeria on Wednesday. The telco said customers could visit MoMo Agents nationwide to access funds…

Deepening Broadband: NCC urges Nigerian govs to waiver Right of Way charges

Mar 31, 2021 Umar Suleiman

Deepening Broadband: NCC urges Nigerian govs to waiver Right of Way charges The Nigerian Communications Commission (NCC) has encouraged state governors in the country by consider waivering Right of Way (RoW) charges to accelerate the pace of broadband penetration in their respective states. Umar Danbatta, the Executive Vice Chairman/CEO of the Commission had identified, RoW, charges as a major limiting factor to provision of broadband services in Nigeria, as it slows down network deployment with the cost of the limited capacities ultimately passed to the subscribers. Addressing the…