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Monthly Archives: March 2017

MTN keeps to fine payment plan, transfers N30bn to NCC, next matures March 2018


In keeping its leading corporate citizenship and agreed payment plan on the reduced N330b fine, MTN Nigeria has transferred N30bn to the Nigerian Communications Commission (NCC). Reuters has reported. The payment is expected to go into NCC’s Treasury Single Account (TSA) with the Central Bank of Nigeria (CBN) within days. Business Hilights had reported earlier in the month that the ...

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MD of Nigerian Ports Authority (NPA), Hadiza Bala Usman, receives ‘Trailblazer Awards’ in Lagos

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Collapse development banks’ into one to end roles duplication—BH FrontPage Comment

Udoma, Buhari, Adeosun

The key reasons behind several policy summersaults in Nigeria cannot not be too far from multiplicity of development agencies and duplication of their duties. This issue had been discussed at various chambers of the National Assembly and all the debates ended up not coming up with a tangible policy proposition that can tame the tide. In terms of development banks, ...

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Trading members approve NSE Demutualisation process, but takeoff date not certain

The Nigerian Stock Exchange (NSE or The Exchange), on Thursday announced that its members have approved the demutualisation programme of the Exchange. Demutualisation is the process through which any member owned organisation becomes a shareholder-owned company. Basically, it refers to the conversion of a non-profit, mutually owned company to a for-profit entity limited by shares. Demutualisation segregates ownership and management ...

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FCMB grows profit by 109% to N16.3bn in 2016

FCMB Balogun

FCMB Group Plc has reported a profit before tax, PBT, of N16.3 billion for the full-year ended December 31, 2016. From the result, there is an increase of 109 per cent, compared to the N7.8 billion posted in the same period in 2015. Profit after tax also rose to N14.3 billion as against N4.8 billion in prior year. Following these, ...

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NITDA, Galaxy Backbone don’t need collaboration but merger to safe fund, end duplicity

Adebayo Shittu

A leading Information Technology (IT) consultant in Lagos, Mr. Joseph Gaga has called on the federal government to forget whatever Memorandum of Understanding (MoU) signed by the managers of both the National Information Technology Development Agency, (NITDA) and Galaxy Backbone Limited and merge both parastatals as their continued existence amounts to duplication of duties and waste of scare resources. In an ...

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Can Technology and Connectivity disrupt Insurance?


By Tenu Awoonor On my way to the Pinet eInsurance conference hosted in Lagos recently, I asked myself a question. What does insurance have to do with telecom or technology for that matter? Plenty I concluded! According to a Business Day Nigeria article I recently read, the size of the insurance market in Nigeria is approximately $1.6 billion. With about ...

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Time to stop Hameed Ali from functioning without constituted Customs Board–Amiwero

Hameed Ali walkout

Serving as a substantive Comptroller General of Customs for more than one year without a constituted Board for the direction of affairs at the money spinning federal agency, Nigerian Customs Service (NCS), has captured the anger of several stakeholders in the industry. Mr. Lucky Amiwero, one of the most outspoken stakeholders has called on the Minister of Finance, Mrs. Kemi ...

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Usman bags Award, pledges more reforms at NPA

Managing Director of Nigerian Ports Authority (NPA), Hadiza Bala Usman has opened up, saying she has garnered much knowledge of the maritime industry within the few months she has steered the affairs of the Authority. She also, gave kudos the Nigerian maritime media for driving a strong partnership with the NPA Management. Elated Usman, who spoke while receiving a platinum ...

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Turkish Airlines’ passengers to enjoy special headsets in flights

Turkish Airlines has stepped up customer satisfaction on board as it has opened an offer to its passengers across the world with high-tech entertainment experience. Accordingly, the Airlines has decided to offer a special headset to its economy class (EC) passengers on long-haul flights. As a starting point, the airline said the new service will be effective in all United ...

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