Business Technology Technology Trends Posted on

Status of the 3.5GHz Spectrum Auction

Author admin 0 454

 

The Nigerian Communications Commission (NCC) hereby announces that by the close of business on Monday, December 5, 2022, only two companies expressed interest in the auction of the 3.5GHz Spectrum band namely;

i.          Airtel Networks Limited (Airtel) and

ii.          Standard Network & Connections Limited (Standard Network).

However, only Airtel paid the Intention to Bid Deposit (IBD) as stipulated in the Information Memorandum (IM) whereas, Standard Network sent an email appeal for the deadline to be extended by twelve (12) working days which was not acceptable in view of the auction timetable.

Having met all the provision in the IM, Airtel has, therefore, emerged as the sole Bidder.

Consequently, there shall be no further bidding and the Commission will proceed to the Assignment Stage in line with the published Information Memorandum guiding the licensing process.

Leave a Comment

Your email address will not be published.

You may also like

Announcements Business Economy Finance Fintech Investments Posted on

CBN Reports Highest Net Reserve Position in Over Three Years

Author admin 0 49
post-image

 

…Signals Renewed Investor Confidence, Stronger External Liquidity

By Anthony Emeka Nwosu

The Central Bank of Nigeria (CBN) has announced a significant surge in the country’s Net Foreign Exchange Reserve (NFER), marking its highest level in over three years. This development underscores renewed investor confidence, enhanced external liquidity, and a substantial reduction in Nigeria’s short-term foreign exchange obligations.

According to the apex bank, Nigeria’s NFER stood at $23.11 billion as of the end of 2024 — a remarkable leap from $3.99 billion recorded at the close of 2023. In contrast, NFER figures were $8.19 billion in 2022 and $14.59 billion in 2021. The NFER metric, which adjusts gross reserves by accounting for near-term liabilities such as FX swaps and forward contracts, is considered a more accurate measure of a country’s foreign exchange buffer available to meet immediate external demands.

In parallel, gross external reserves also improved, rising to $40.19 billion from $33.22 billion recorded…

Read More
Business Economy Energy Posted on

NNPC Ltd Unveils New Senior Management Team

Author admin 0 51
post-image

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has announced the appointment of a new senior management team, marking a significant step in its ongoing corporate restructuring and repositioning.

The new appointments, which were officially unveiled on Friday, follow the recent constitution of the company’s Board of Directors and the appointment of Mr. Bashir Bayo Ojulari as the Group Chief Executive Officer (GCEO). The newly constituted 8-member management team is expected to drive the strategic vision of the national oil giant in its new phase as a limited liability company.

According to the announcement, Mr. Roland Ewubare has been named the Group Chief Operating Officer, while Mr. Adedapo Segun takes on the role of Group Chief Financial Officer. Mr. Olalekan Ogunleye will serve as the Executive Vice President, Gas, Power & New Energy.

The team also includes Mr. Udy Ntia, Executive Vice President, Upstream; Mr. Mumuni Dagazau, Executive Vice President, Downstream; and…

Read More
Agriculture Business Culture Economy Technology Technology Trends Posted on

Afrimash Launches USSD Code *349*791# to Combat Adulterated Chicks and Boost Poultry Farming in Nigeria

Author admin 0 173
post-image

In a bold move to curb the menace of adulterated day-old chicks in Nigeria’s poultry industry, leading agritech firm Afrimash has launched a dedicated USSD code, *349*791#, aimed at empowering farmers to verify the authenticity of their chicks and access premium poultry products — all without the need for internet access.

Developed in collaboration with global non-profit Acumen, the USSD platform represents a significant leap in the fight against substandard poultry products, a persistent challenge that has cost farmers millions in losses and productivity.

A Simple Solution to a Growing Problem

For years, Nigerian poultry farmers have grappled with the growing threat of adulterated chicks, often purchased unknowingly from unverified sources. The new 349791# code offers a user-friendly and mobile-based verification process that ensures chicks come directly from certified hatcheries.

Read More

Business Economy Finance Fintech Investments News Opinion Posted on

Sterling Bank Did the Math—and Still Chose the People.

Author admin 0 117
post-image

Yes, They Abolished Transfer Fees.

This Friday morning, I will walk into a Sterling Bank branch in Abuja—not just to open a bank account, but to make a statement. A statement in support of a bank that chose compassion over corporate greed, and the people over profits. Sterling Bank has made a bold move—eliminating transfer charges that other banks have stubbornly held onto. And for that, they deserve to be celebrated.

Let me be clear: this is not just about ₦10 or ₦50 per transaction. This is about principle. This is about justice.

In 2020, and again in 2023, I publicly called on the Central Bank of Nigeria and President Bola Ahmed Tinubu to alleviate the financial burden on Nigerians by eliminating the stealthy, exploitative charges embedded in our banking system. I received no response. No action. Just silence.

But then came Sterling Bank.

They listened. They acted.

They willingly walked away from ₦13.56 billion…

Read More
Business Economy Government International Posted on

GLOBAL DEBT WATCH: ARGENTINA, UKRAINE, EGYPT TOP LIST OF MOST INDEBTED NATIONS TO THE IMF

Author admin 0 160
post-image

— By Anthony Nwosu | April 2, 2025

As nations across the globe grapple with fiscal imbalances, inflation, and post-pandemic recovery challenges, a new report has spotlighted the top 15 countries most indebted to the International Monetary Fund (IMF), revealing Argentina as the largest debtor with a staggering $31.10 billion obligation.

According to data released by Statisense on April 2, 2025, the list underscores the growing reliance of struggling economies on IMF support amidst global economic instability, currency devaluation, and domestic policy constraints.

Top 5: Heavily Reliant and Highly Indebted

Argentina leads the chart with a monumental $31.10 billion owed to the IMF. The South American giant has long struggled with chronic inflation, currency depreciation, and successive debt restructuring negotiations. The country’s reliance on IMF support intensified in recent years following a series of bailouts and economic reform packages.

Ukraine ranks second with $10.86 billion in IMF debt, a reflection of ongoing war-induced fiscal…

Read More
Business Government Opinion Security Society Posted on

NDPC Highlights Critical Role of Data Security in Economic Growth at Elevate Summit 2025

Author admin 0 120
post-image

The Nigeria Data Protection Commission (NDPC) reiterated the vital importance of data security in modern business operations during its keynote address at the Elevate Summit 2025 in Lagos. The National Commissioner and CEO of NDPC, Dr. Vincent Olatunji, represented by Barrister Babatunde Bamgboye, Head of Legal, Enforcement, and Regulation, emphasized that robust data protection measures are essential for project management and national economic development.

With businesses increasingly relying on data for decision-making, performance tracking, and resource management, Dr. Olatunji underscored the need for organizations to prioritize privacy and compliance. He outlined key considerations in data protection, including risk assessment, legal frameworks for processing data, and upholding the rights of individuals.

“In today’s interconnected business landscape, failing to safeguard data erodes trust and credibility,” he stated. “Organizations must embed data privacy principles into their operations to maintain stakeholder confidence.”

The NDPC also highlighted the vast economic potential of Nigeria’s data protection sector, aligning…

Read More
Business Posted on

Zenith Bank Leads Gender Equality in Nigeria’s Banking Sector Under Female CEO

Author admin 0 168
post-image

 

Nigeria’s most profitable bank, Zenith Bank, has achieved a historic milestone in gender representation, with women now making up the majority of its workforce. According to the bank’s 2024 financial report released this week, 53% of its employees are female, while men account for 47%.

The figures mark a significant shift from 2023, when male staff outnumbered women. The change followed the appointment of Adaora Umeoji as CEO, underscoring the bank’s commitment to gender inclusivity in leadership and employment.

With a total workforce of 7,704, Zenith Bank employs 4,090 women and 3,614 men, making it the only Tier-1 Nigerian bank with a female-majority staff. The institution, which reported over ₦1 trillion in profit last year, is now predominantly run by women—a development hailed as a testament to societal progress.

Industry analysts say the achievement reflects broader efforts to close gender gaps in Nigeria’s corporate sector. “This speaks volumes,” said financial expert Tunde…

Read More
Business Economy Posted on

Ebehijie Momoh, CEO of AfriGOPay to Deliver Keynote at PAFON 2.0

Author admin 0 181
post-image

…Uche Uzoebo, MD/CEO SANEF is the Special Guest

Ebehijie Momoh (Mrs), the Managing Director and Chief Executive Officer of AfriGOPay Financial Services Limited (AFSL), a subsidiary of NIBSS, has been announced as the keynote speaker for the second edition of Payments Forum Nigeria (PAFON 2.0).

PAFON 2.0 will be held on Thursday, April 10, 2025 at the Function Room 1, Oriental Hotel, Lekki Road, Lagos by 9am (WAT).

Register here to attend: https://shorturl.at/IPOjA

The keynote speaker alongside the special guest, Uche Uzoebo, the MD/CEO of SANEF, and others lined-up for the Forum, will focus on the theme: “Bridging the Customer Experience Gap for Financial Inclusion Using AI”, which underscores the urgent need to safeguard digital transactions against emerging threats while ensuring seamless financial inclusion and innovation.

Mrs Momoh is leading AfriGO vision to deliver a seamless, secure and efficient payment card scheme which facilitates faster transactions, reduces card operating costs to enhance the overall user experience for stakeholders, partners, and…

Read More