The Nation Newspaper

Tag: operator

  • No errant operator’ll be spared, says NCC

    THE Nigerian Communications Commission (NCC)will not relent to bring sanity to the telecoms sector and ensure that operators offer high quality services, its Director of Public Affairs, Tony Ojobo, has said.

    He spoke on the sideline at a ceremony where the commission received the African Regulator of the Year award in Lagos, over the weekend.

    He said the regulator was working to ensure an enabling environment that would guarantee healthy competition, adding that NCC has entered into an agreement with the dominant operator on what to do.

    “The NCC will not hesitate to sanction any operator that disobeys its directives. NCC is monitoring the industry, watching the operators to see if they are keeping to the letters of the key performance indicators (PKIs) which they freely entered into with the NCC. The interest of customers is upper most,” he added.

    He explained that one of the steps taken to ensure that subscribers have a choice, is the introduction of the Mobile Number Portability (MNP) scheme in the country, adding that it has brought competition to the industry as each service provider takes steps, not only to retain its old customers but win new ones.

     

  • Operator lists hurdles against airlines

    The Federal Govrnment has been urged to provide domestic carriers with low cost capital to enable operators to remain in business.

    An indigenous operator, and the Chief Executive Officer of Overland Airways, Captain Edward Boyo, who made the call in Lagos.

    He explained that such initiative would not be too much a price to pay to keep domestic airlines afloat, as such funds will enable the airlines acquire aircraft at lower costs.

    The repayment of such funds should  spread over a long period, he added.

    Boyo told The Nation that such initiatives have been taken by some governments across the globe with the aim of bailing their ailing airlines from imminent collapse.

    He described the provision of low cost capital as the best reform the government could take to prevent domestic airlines from imminent collapse, arguing that previous attempts to provide intervention funding for the carriers did not yield the desired results.

    He listed low capacity of funding institutions and high lending rates as among factors militating against domestic airline operators.

    Other factors, according to Boyo, are prohibitive maintenance costs, which have made domestic airline operators in the country to ferry aircraft abroad for major checks such as C and D, high import duties and taxes on aircraft parts,  which adds to operators’ spiralling  operating cost.

    He also listed skyrocketing price of aviation fuel, which has caused operators over 40

  • Court jails bureau de change operator

    A  Kano State High Court has sentenced a bureau de change operator, Muktar Yusuf Gwadabe, to two and half years imprisonment with an option of N250, 000 fine.

    Gwadabe, who was prosecuted by the Economic and Financial Crimes Commission (EFCC), was convicted by Justice Dije Abdu Aboki for fraud, criminal breach of trust and issuance of a dishonoured cheque amounting to N70million.

    The judge ordered the accused to pay N76million to the complainant, Alhaji Nura Ammani and in default, to serve a prison term of five years.

    A statement by the Head of Media and Publicity of the EFCC, Wilson Uwujaren, said Gwadabe was arrested in February 2009, following a petition by Ammani, who allegedly gave him (Gwadabe) N152million for the supply of $1million.

    The statement said: “The convict supplied $500,000, (equivalent of N76million), but allegedly misappropriated and converted to his personal use, the balance.

    “The accused issued a cheque of N76 million to the complainant which when presented for payment was returned unpaid because of insufficient fund in the accused’s account.”

    The EFCC also said it has arraigned Bernard Nebani before Justice Habeeb Abiru of the Lagos High Court, Ikeja, for alleged stealing and fraudulent conversion of N5.72million.

    According to the charge, “Bernard Nebani on or about June 13, 2008 at Lagos stole and fraudulently converted 57,200 litres of petroleum products valued at N5.72million property of Leadland Resources Limited.

    “Justice Abiru adjourned the case till October 24 for hearing of the bail application and ordered that the accused be remanded in Kirikiri prison.”

     

  • Why finance houses’ reform is stalled, by operator

    Why finance houses’ reform is stalled, by operator

    Approval from the Board of Directors of the Central Bank of Nigeria (CBN) is delaying ongoing reforms in the finance houses subsector, The Nation has learnt.

    An insider at the Finance Houses Association of Nigeria (FHAN) said pending issues such as withdrawal of licences of 47 finance houses whose liquidity were called into question in May, and funding for the subsector will be decided after the CBN board’s assent.

    He said progress is being made now, unlike before when nothing was happening in the subsector. He said the reform is taking shape and may be concluded by year-end.

    However, he said the CBN may withdraw licences of 47 finance houses whose liquidity were called into question in May.

    The apex bank had, given a 30-day notice to 47 closed or inactive finance companies to submit evidence of their existence and/or operations, or lose their operating licences. The order had expired on Tuesday, April 18.

    The banking watchdog said that the affected finance companies had closed shop, ceased to operate, or abandoned finance company business.

    The source said the withdrawal of the institutions’ licences is certain because their conditions are beyond repair.

    He said the apex bank is also considering developing a regulatory framework that will govern finance lease practice, institutionalising a “funding pool” to stimulate lending activities in the sub-sector and structured programme to address the reputation and poor visibility challenges of the sub-sector.

    President of the association, Samuel Durojaye, had earlier said in a statement that the CBN reforms in the sector will transform, and reposition the finance company sub-sector to enable it play increasing role in Nigeria’s financing value chain.

    He acknowledged the apex bank’s continuing support to and engagement with the association on this project.

    He called on FHAN members to support the bank’s efforts at strengthening the regulatory environment by regular and timely rendering of all statutory returns and reports, as well as the renewal of their operating licences every year.

    Durojaye enjoined them to note that the apex bank is taking the issue of corporate governance practices very serious and, therefore, counselled members to identify structural weaknesses in their various organisations and take immediate remedial steps to rectify them.