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NCC Receives N50bn Payment From MTN

The Nigerian Communications Commission (NCC), on Monday said it received N50 billion from MTN Nigeria Communications Ltd. as part settlement of fine it imposed on the communications firm. In a statement signed by Mr Tony Ojobo, the Director of Public Affairs of NCC, in Abuja. the commission had also revealed that ...

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Power Supply Drops By 624MW In 3 Days

The nation’s power supply slumped by 623.76 megawatts in three days, worsening the rationing that electricity distribution companies have been subjecting consumers to in recent days. The drop in the nation’s electricity generation has caused reduction in load allocation from the national grid to Discos. Electricity generated on Thursday, February ...

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Pirates Kidnap Two Crew Members On Board Bourbon Vessel

Dare-devil pirates operating across Nigerian waters have attacked Bourbon-owned anchor handling and tug supply vessel (AHTS), and whisked away two of the crew members to an unknown location. The company which confirmed the attack and kidnapping of the crew members said the incident occurred off Nigerian waters on the 23rd ...

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Why We Support $3.8 bln FPSO Project in Nigeria- NAPIMS

The National Petroleum Investment Management Services (NAPIMS), has explained its supports for the sitting of $3.8 billion Egina project at the yard of the Lagos Deep Offshore Logistics base (LADOL), saying the logistics supports service provider company has adequately demonstrated its competence in handling such projects. The clarification came Thursday, ...

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Customs, Transport Ministry May Clash Over Clearing Agents’ Registration

The Federal Ministry of Transport and the Nigeria Customs Service (NCS) is heading on a collision course with the potential consequences of disrupting the business of clearing and forwarding of goods at the nation’s seaports. The cause of the looming crisis is the age-long controversy over which appropriate government agency ...

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ntel Makes History With First VoLTE Call In Nigeria

The Chief Executive Officer of ntel, Mr Kamar Abass, on Thursday said that the telecoms company had made its first Voice over Long Term Evolution (VoLTE) call in Lagos. In a statement issued by ntel,It said that the test VoLTE call was made at 3.30pm at ntel’s new Tier III ...

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‘Erratic Naira’ Now Trading Between 280 And 310

The naira took a strange turn on Wednesday, trading at varying prices across different sections of the parallel market, appreciating by the highest leaps in 2016. The “official rate” of the black market is now completely unpredictable as various sellers are quoting different prices. Traders told TheCable that the uncertainty ...

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Economic Crisis: Ecobank Fires 50 Top Management staff

The management of Ecobank Nigeria Plc has relieved a minimum of 50 staff of their duties over the prevailing economic crisis in the country. A top management staff of the bank told TheCable that the development came as a shock to those affected. He explained that although the issue had been discussed in ...

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MTN Withdraws Case Against NCC, Pays $250M Fine

MTN Group, South African telecoms firm has withdrawn its legal action against Nigerian Communications Commission (NCC) over a $3.9 billion fine and paid $250 million towards a possible settlement, the company said in a statement on Wednesday. Africa’s leading telecoms firm was fined by the Nigerian Communications Commission in October ...

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Onyema Gets New Five Year Term At NSE

The Nigerian Stock Exchange (NSE) has renewed the contract of agreement of Oscar Onyema, its chief executive officer, for another five-year term. Onyema resumed office as the CEO of the NSE in April 2011 with the first term of  a five-year contract expiring on March 31, 2016. According to a ...

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