MTN Nigeria, leading communications services provider, has announced plans to raise N23 billion in Commercial Paper (CP), in a bid to diversify its funding sources. In a regulatory filing with the Nigerian Exchange Limited, the telecom firm said the debt issuance is part of its N150 billion commercial paper programme. The communication signed by the company secretary stated that detail of the issuance will be communicated to the stakeholders as transactions occur. “The issuance is part of the company’s strategy to diversify its financing options, with the funds deployed towards working capital and general corporate purposes. “Further details on the…
Author: Elvis Eromosele
In the absence of an 11th-hour miracle, when an assessment of the performance of the Executive arm of government will be carried out on May 29 next year, using the economy, security and corruption as an index, President Muhammadu Buhari may likely go down as a failed President. If this happened, the Legislative organ of government should largely be blamed. Firstly, for failing to invoke the doctrine of checks and balances to ensure the President discharges his statutory obligations in line with national interest and aspirations. Secondly, for failing to halt the breach of federal character principle by the President.…
Barely 24 hours after a seven-storey building collapsed and killed six people in Lekki, the Lagos State Commissioner for Physical Planning and Urban Development in the State, Idris Salako, has resigned. The state commissioner for information and strategy Gbenga Omotoso announced this in a statement posted on Twitter on Monday. “The Governor of Lagos State, Mr. Babajide Olusola Sanwo-Olu, has accepted the resignation of the Commissioner for Physical Planning and Urban Development, Dr. Idris Salako. This is a prelude to the restructuring of the Ministry and its agencies. Governor @jidesanwoolu thanks the Commissioner for his services to the State and…
Lagos state is set to establish a “deoxyribonucleic acid (DNA) database, a DNA Index System” and “a DNA bank for storage of reference DNA samples” following the unanimous passage of a bill by the Lagos house of assembly which gives legal backing for the state’s DNA and forensic centre. This bill was passed Monday, September 5, 2022. A statement by the Lagos assembly revealed that other forensic activities expected to be carried out by the centre include “toxicology, drug chemistry, fingerprint examination, firearms examination, tool mark examination, ballistics, trace evidence analysis, questioned document examination and digital forensics to obtain evidence…
Three demo hacking solutions have been presented by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) as a digital answer to corruption in government school feeding programmes. The hacking solutions were chosen out of the seven presented by innovators during the commission’s Illicit Financial Flows Hackathon initiative. The Hackathon was organised in conjunction with the National Information Technology Development Agency (NITDA) with the support of the Ford Foundation, West Africa, in Abuja, on Friday. Professor Bolaji Owasanoye, the ICPC chair said at the unveiling that the use of technology is crucial to the success of the fight against…
The National Population Commission has disclosed that the country’s next population census will be held after the 2023 general elections scheduled for March. The NPC Chairman, Alhaji Nasir Kwarra, stated this on Monday during his visit to the former Commonwealth Secretary-General, Chief Emeka Anyaoku, in Ikoyi. Kwarra, who was accompanied by a delegation of members of the NPC who are federal commissioners, noted that the country has been ripe for another census since 2016, and would deploy technology in the next exercise. He said, “We came here today to seek your support for the 2023 census. We have chosen it…
PalmPay, a fintech innovator aiming to make digital payment more accessible and flexible, Monday announced the launch of “PalmPay Anniversary Gold Rush,” a 35-day campaign offering all the users who participate in the in-app Gold Rush game the opportunity to share a massive N300 million cash giveaway. The celebration also marks PalmPay reaching the milestone of 10 million users in Nigeria as of July 2022. The anniversary campaign will run from Monday, September 5, to Monday, October 10, and will give substantial cash rewards and coupons in the app as a way of saying thanks to PalmPay’s users. The PalmPay…
Kenya’s Supreme Court has unanimously validated the August 9, 2022 election of the country’s Vice President, William Ruto as the president-elect. This comes just three weeks after the voting. In a ruling endorsed by all the seven justices of the Supreme Court, Chief Justice Martha Koome said the case of the opposition leader, Raila Odinga lacked merit and confirmed that Ruto won by 50.5 per cent as against Odinga’s 48.8 per cent. Ruto will take over from President Uhuru Kenyatta on 13 September. Odinga, who failed to secure the presidency on his fifth attempt, along with six other parties, petitioned…
Active subscriptions for telecommunications services across mobile networks of MTN, Airtel, Glo, and 9mobile rose to 208.6 million in July compared with 206.5 million in June, according to the latest data from the industry regulator, the Nigerian Communications Commission (NCC). This is an indication that more mobile telephone users activated and reactivated 2.47 million telephone lines in July. The data shows that Glo recorded the highest gain of 2.1 million subscriptions in the month of the total increase in active mobile lines for the period under review. In July, MTN activated 392,440 telephone lines; Airtel 90,955 while 9mobile subscriptions fell…
Power generation in Nigeria dropped 642.4 megawatts on Sunday just as fire gutted Adiabo 330/132/33kV substation in Cross River State, according to the Transmission Company of Nigeria (TCN). The latest data on power generation from the Federal Ministry of Power on Sunday in Abuja showed that the quantum of off-peak power produced on the national grid on Saturday was 3,310.5MW, while peak electricity on the same day was put at 4,446.7MW. The dropped in power generation to 3,804.3MW by 6 am on Sunday, indicating a power generation decrease of 642.4MW. This came as the government through its Transmission Company of…