As part of efforts to strengthen subscribers’ protection against poor services delivery, Mobile Network Operators have been directed to compensate subscribers in areas where network quality falls below approved standards. This directive was handed down on Monday by the Nigerian Communications Commission (NCC) through a statement issued by the Commission’s Head of Public Affairs, Nnenna […]
OICL acquires 10% stake in FCMB Pensions
Odu’a conglomerate, the Odu’a Investment Company Limited (OICL) has added another feather to its cap with Tuesday’s announcement of the completion of its acquisition of a 10 per cent minority equity stake in FCMB Pensions Limited, a subsidiary of FCMB Group Plc. Making this announcement at the Corporate Headquarters of the conglomerate, Cocoa House, Ibadan […]
CJN: FCCPC Key to Protecting Nigeria’s Market, Business Climate
By Sunday Stephen The Chief Justice of Nigeria, Kudirat M. O. Kekere-Ekun, has declared the Federal Competition and Consumer Protection Commission (FCCPC) a crucial institution for safeguarding Nigeria’s business environment and preserving the integrity of the marketplace.Justice Kekere-Ekun made the declaration in Abuja while delivering the keynote address at the opening of a three-day Competition […]
SCAM WAVE HITS NASARAWA: Toto Traders, Farmers Lose Millions in 100% Return Investment Fraud
By Akindele Orimolade The agrarian town of Toto in Nasarawa State has been plunged into grief and disbelief after residents lost several millions of naira to a fraudulent investment scheme that promised a staggering 100 percent return.Unlike tragedies triggered by natural disasters or sudden deaths, the sorrow sweeping through the community stems from the devastating […]
Court Sentences Two Chinese Firm Directors to 46 Years Each Over N3.4bn, $2.5m Crypto Fraud
The Federal High Court in Lagos has convicted and sentenced two Chinese nationals and directors of Genting International Co. Limited, Huang Haoyu (also known as Ken) and An Hongxu, to 46 years’ imprisonment each over a N3.4 billion and $2.5 million cryptocurrency fraud and money laundering scheme. Justice Daniel Osiagor, who presided over the case […]
NCAA Grants Airlines 90-Day Lifeline to Secure Payment Guarantees for Ticket Levies
LAGOS — The Nigerian Civil Aviation Authority (NCAA) has granted local airlines a 90-day grace period to provide bank-backed Advance Payment Guarantees (APGs). This move is designed to streamline the remittance of the mandatory 5% Ticket Sales Charge (TSC) collected from passengers.Under aviation law, airlines act as collecting agents for this statutory levy, which is […]