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Tag: sanction

  • Arik accuses NCAA of ‘bad faith’ over sanction

    Arik accuses NCAA of ‘bad faith’ over sanction

    Arik Air has accused the  Nigerian Civil Aviation Authority (NCAA) of acting in bad faith over its decision to impose a N6 million fine on the airline for its alleged  poor handling of passengers’ luggage from London.

    The airline said the official communication  procedure to respond to the alleged infraction has not been fully explored before the regulator went public with its decision.

    In its reaction, Arik Air’s spokesman, Banji Ola, said  NCAA’s action of publicising the letter before the airline had an opportunity to formally respond by the deadline stated in the letter, was  unprofessional.

    He said NCAA had invited the management of the airline to an informal meeting on Friday, December 16 where it explained the circumstances leading to the sequence of events and detailed the efforts it made to recover the luggage.

    Ola said the carrier did everything possible to ensure that the London passengers got their baggage in good time.

    He said: “When the airline’s wide body A330-200 aircraft was damaged by a ground handling truck, it deployed a B737-800 on the London route to minimise the disruption to the passengers. All passengers checking in from London were given a letter informing them of the capacity limitation and weight restriction on the aircraft type, and advised that some of their baggage would be delayed because of this and transported on the next available flight with capacity.

    ”All passengers were accepted on to the flight based on this understanding. However, after arriving Lagos, some of them formed pressure groups and took the laws into their own hands, disrupting the operations of the airline, assaulting the airline’s employees and destroying its property. Some of the airline’s employees were beaten and hospitalised and some of them are still receiving medical treatment as of date.”

    Ola said in order to address the reduction in capacity and backlog of baggage, the carrier leased another wide bodied A340-300 aircraft to complement its B737-800 aircraft to ensure the delayed baggage got back to Lagos in good time, adding that some of the passengers disrupted their operations for several days thereby making it impossible for the aircraft to operate from Lagos and return from London Heathrow before the night curfew, which further prevented the short landed bags from being recovered.

    Ola said that the Federal Airport Authority of Nigeria (FAAN) security, did nothing to prevent the passengers from disrupting the airline’s operations, or in providing adequate security to the airline and its personnel to enable the flights to leave on time thereby preventing a quicker resolution in the recovery of luggage.

  • NSE to sanction 14 firms for earnings’ report default

    NSE to sanction 14 firms for earnings’ report default

    The Nigerian Stock Exchange (NSE) will sanction 14 firms for failing to meet July 31 deadline for the submission of their interim financial and operational reports, it was gathered at the weekend in Lagos.

    Sources at the Exchange said the firms were to submit their first half and second quarters’interim earnings report and accounts by that date.

    NSE’s Post-listing rules  require quoted companies to submit their audited earnings’reports, not later than three months after the expiration of the period. The rules also require quoted companies to submit their interim reports not later than 30 days after the end of the relevant period.

    Most quotedcompanies, including all banks, major manufacturers, oil and gas cement companies use the 12-month Gregorian calendar as their busines year. Their business year thus terminates on December 31. March 31 is the deadline for the submission of the yearly report of companies with Gregorian calendar business year. The deadline for the quarterly report is a month after the quarter.

    The regulatory filing calendar of the NSE indicated that July 31 was the deadline for the results for the period ended June 30, thus the last working day of the period, Friday, July 29, was effectively the deadline.

    Sources at the NSE said there would be no general waiver or extension of the earnings submission deadline besides the specific waiver or extension granted to some companies that had applied for such, noting that the Exchange would impose appropriate sanctions on the companies that defaulted.

    The Exchange confirmed that it would sanction the companies that failed the deadline.

    “The Exchange will enforce the appropriate sanctions in accordance with the Issuers’ Rule 2015 where a listed company fails to apply for an extension or provide a reasonable explanation before the due date,” NSE stated in email response to enquiry by The Nation.

    The NSE indicated that about three-quarters of companies met the deadline. Besides the 14 active companies, there are also about 40 dormant companies under the watch of the Exchange.

    NSE tags and fines companies that fail to meet earnings reports’ deadline. Under the corporate governance and rules compliance assessment report known as X-Compliance Report, NSE identified four various tags or symbols to alert investors about the status of each quoted company. These include below listings standard (BLS), the first degree alert level, indicating a company that has not complied with post listing rules, such as late submission of financial statements, unauthorised publication, and management failures.

    Also, financial services companies, such as bank and insurance companies awaiting regulatory approval, will carry the appropriate symbol of awaiting regulatory approval (ARA).

    Companies undergoing a capital reconstruction, including supplementary issue, share buyback, split, and share reconstruction, will be tagged capital reconstruction exercise (CRE) while companies that have indicated that they will be delisting or companies that are being delisted at the instance of the regulator would be flagged with delisting in process (DIP) symbol.

  • Kogi to sanction striking workers

    The government of Kogi State has warned civil servants not to partake in any strike as directed by the organised labour, saying payment of salary arrears was on.

    Addressing reporters yesterday in Lokoja, Commissioner for Information Mohammed Awwal said erring workers may be punished.

    He gave the warning in reaction to labour’s order that workers should embark on strike, starting today.

    Awwal described the action as misleading and sabotaging the governor’s efforts, noting that in the last two weeks, the state had begun the payment of salary arrears.

    The commissioner expressed shock at the directive that workers should embark on strike, when according to him, of the 55 Ministries, Department and Agencies (MDAs), 48 had been paid, leaving just seven left to be attended to.

    He warned workers not to heed the strike order but proceed to their offices, stressing that the government would open attendance registers in all offices.

  • NECA faults Ngige over sanction on banks

    NECA faults Ngige over sanction on banks

    The Nigeria Employers’ Consultative Association (NECA) has faulted the Minister of Labour and Employment, Dr Chris Ngige over his threat to sanction banks that lay down its workers with licence withdrawal.

    Its Director-General, Mr Segun Oshinowo accused the minister of appropriating to himself the power which the state has not conferred on him.

    “His comment on withdrawal of licences at a global forum is an embarrassment to Nigeria. It is a comment that is unministerial and it has simply painted a very ugly picture of governance and government in Nigeria.

    “The Central Bank of Nigeria (CBN) and Nigerian Communications Commission (NCC) regulate the   banks   and  telecommunications  sector  respectively and   they   are   the   only   institutions   that   could determine who gets a licence and who should be denied. This, indeed, is a serious and a big decision-issue, consideration of which goes beyond labour administration,” he said.

    He advised the minister to focus on the bigger issue of working with his colleagues in the cabinet to reposition the economy so that the nation can return to growth and provide jobs for the youths roaming the streets.

     

  • NCC lifts sanction on MTN Nigeria

    Mr. Tony Ojobo, the Director, Public Affairs, Nigerian Communications Commission (NCC), said on Wednesday that the commission had lifted the sanction placed on MTN Nigeria since July 13, 2015.

    Ojobo said in a statement made available to the News Agency of Nigeria (NAN) in Lagos that the regulatory sanctions were for 24 identified infractions.

    It said that the lifting of the regulatory sanction was in no way related to the Subscriber Identification Module (SIM) card non-deactivation fine.

    “This is to confirm that NCC has lifted the regulatory sanctions placed on MTN since July 13, 2015.

    “The sanctions were for 24 identified infractions which are not in any way connected with the SIM card non-deactivation fine.

    “These were a number of violations discovered by the Compliance Monitoring and Enforcement Team of the commission in June 2015.

    “Consequent upon the inability of MTN to remedy the identified infractions, the commission invoked the sanction in its guidelines,’’ the statement quoted Ojobo as saying.

    It said that the sanction meant the denial of regulatory services to the telecommunications company for failing to remedy the infractions in line with NCC’s regulations.

    According to the statement, consequent upon the remediation of the 24 infractions by MTN, the regulatory body’s letter of March 14, 2016, informed the company of its decision to lift the regulatory sanction.

    “It should be noted that this does not in any way extend to the fine for non-deactivation of SIM card case.

    “The case of SIM card deactivation is an entirely different infraction, which is mutually exclusive to the 24 infractions now remedied.

    “This has become necessary in view of the many enquiries being received from concerned stakeholders.
    “This action is without prejudice to the matter which is presently in court. Please be guided accordingly,’’ it quoted Ojobo as saying.

  • France proposes sanctions against Libya

    France says it will propose sanctions against Libya, as fears mount that Islamic State is taking advantage of political instability to establish itself in the country.

    Foreign Minister Jean-Marc Ayrault told the newsmen in Cairo during his visit to Egypt
    “I do not exclude that we can threaten sanctions. In any case that is what I will propose to my foreign minister colleagues on Monday in Brussels,” Ayrault said.

    France had said in February that it would support levying sanctions against those knowingly hinder the political process.

    The ministry said that there were small numbers of radicals in both political camps in Libya who are trying to derail consensus.

    Ayrault said that it was not time for military action, but that the threat of IS in Libya was real.
    “We cannot continue with this situation, which poses a danger to Libyans and to the entire region; which threatens Tunisia and threatens Europe,’’ he added.

    According to Ayrault, any action in Libya depends on the creation of a national unity government that is recognised by the international community.

    The UN has been trying to broker an agreement between the internationally recognised parliament in Tobruk and a rival Islamist-leaning administration that controls the capital Tripoli.

  • Scarcity: DPR vows to sanction marketers

    Scarcity: DPR vows to sanction marketers

    The Department of Petroleum Resources (DPR) Friday warned petroleum products marketers against desist from sharp practices or face sanctions which include a N2 million fine and licence revocation.

    DPR Director, Mordecai Ladan, Ladan gave the warning while speaking against the backdrop of the purported resurgence of fuel scarcity in the country.

    He said that any petroleum products marketer who engages in the act of diversion, hoarding or under-dispensing will be prosecuted and treated like an economic saboteur.

    Speaking in Abuja, he warned petroleum products depots and filling stations owners to desist from products diversion, hoarding, pump manipulation as well as selling products above government approved prices.

    “Marketers caught diverting or hoarding products for profiteering shall be sanctioned with a fine of N2 million in addition to having their operating License revoked and prosecuted for national economic sabotage,” the Department added.

    The DPR boss linked the resurgence of fuel queues in some states in the northern part of the country to the nefarious activities of unscrupulous marketers who are in the habit of diversion of petroleum products to other sources apart from dispensing pumps at filling station at the appropriate price of N87 per litre.

  • BVN: Non-compliant customers face sanction

    depositors who fail to meet the October 31 deadline for Bank Verification Number (BVN) registration will be barred from enjoying banking services until they comply, The Nation has learnt.

    No fewer than 20 million customers have so far been registered, according to the Nigeria Inter Bank Settlement System Plc (NIBSS).

    In its quest to ensure the success of the exercise, NIBSS partnered with telecoms firms to create a platform through which bank customers can confirm their registration status.

    Already, NIBSS is partnering telecoms service provider, Etisalat, to roll out the BVN Query Service.

    The service, which was unveiled at the NIBSS headquarters recently, is designed to help the public get information on their BVN via their mobile phones.

    The initiative is coming on the heels of the extended deadline for the BVN registration which ends next month.

    The registration was a directive from the Central Bank of Nigeria (CBN) to all Deposit Money Banks (commercial banks) to register their customers biometrically in furtherance of the Know Your Customer (KYC) policy.

    NIBSS Managing Director,Ade Shonubi, said the initiative was in response to growing public demand for confirmation of BVN status by those, who have enrolled on the platform. He added that the BVN Query Service would boost such efforts like KYC for banks.

    Also, Chief Marketing Officer, Etisalat Nigeria, Francesco Angelone, said the partnership with NIBSS on USSD BVN Notification Service was in line with the telco’s commitment to continue to create value for the consumers across all sectors, including the banking and telecoms industries.

    “We are happy to be the first to offer this product among the operators because we believe that innovation is the way the telecoms industry must lead,” Angelone said.

    “The integration with the banking industry is a pillar for development. Etisalat subscribers can check their BVN registration status and number by dialing a dedicated code for an instant response at a cost of N10 per Query,” he said.

    The Query Service is based on instant request- instant response and aims at providing utility for those who have enrolled on the BVN platform of the CBN.

     

  • NCC may sanction MTN over ‘illegal’ tariff plans

    NCC may sanction MTN over ‘illegal’ tariff plans

    The Nigerian Communications Commission (NCC) at the weekend ordered MTN Nigeria Communications to stop implementing a tariff plan called MTN TruTalk+ or face serious sanctions as the regulator said it did not give any approval for such service.

    The Commission also barred MTN from further advertisement of such service in the print, electronic media or its websites.

    In a letter dated May 19, this year with ref No NCC/MTN/18/15 endorsed by the Head, Compliance Monitoring and Enforcement, Mr. Efosa Idehen and Head, Legal and Regulatory Services, Mrs. Yetunde Akinloye, the regulator said the records of the Commission showed that the operator has no approval before embarking on the new promotional tariff plan.

    The Commission said its Compliance Unit revealed that the new tariff with daily access fee of N5, allows subscribers to call all networks at 11k/sec and N20k/sec to United Kingdom (UK), United States (US), India, Canada and China.

    “The Commission’s investigations showed that MTN Nigeria Communications Ltd has already configured this tariff plan on their network and has therefore implemented same without the appropriate regulatory approval. Consequent upon the above, the Commission thereby directs MTN Nigeria Communications Ltd to immediately discontinue this Tariff Plan and all associated advertisements regarding same or otherwise face regulatory sanctions accordingly” NCC said, adding that the action contravenes Section 108 (1) of the Nigeria Communications Act 2003.

    The NCC has initiated this action in fulfilment of its mandate under Section 89 of NCC Act 2003 having carried out a compliance check on the recently introduced MTN Nigeria Limited TruTalk+ Tariff Plan.

    A statement by its Director, Public Affairs, Tony Ojobo, explained that following the compliance check, it was confirmed that MTN Nigeria is  advertising a Tariff Plan called MTN TruTalk+ in the print and electronic media.

    The NCC investigations showed that MTN Nigeria had configured this Tariff Plan on its network and has,  implemented it.

  • ‘Sanction erring stations’

    ‘Sanction erring stations’

    The Nigerian Broadcasting Commission (NBC) and the Advertising Practitioners’ Council of Nigeria (APCON) have been urged to sanction television stations and newspapers disseminating damaging documentaries and hate advertorials.

    The APC accused the organisations of partisanship and protection of the ruling Peoples Democratic Party (PDP), which it alleged was desperate to remain in office.

    APC’s spokesman in Lagos Joe Igbokwe accused a particular television station of engaging in false and desperate propaganda sponsored by agents of the ruling party.

    In a statement, Igbokwe said the station undermined decency and decorum in its desperate effort to partake in PDP’s grand looting of the nation’s oil wealth.

    “What the station is doing for the collapsing PDP is akin to what similar organisations did for the military in the days Nigerians struggled against dictatorship.

    The station is doing this nefarious activity, irrespective of the dangerous consequences these hate propaganda bode for Nigerian even after the election.

    “We wonder why the NBC that has been hounding opposition parties and candidates for expressing their views has turned a blind eye to the dangerous and notorious lies and fabrications this station has made its primary business.

    “We wonder how a self-respecting broadcasting station could allow itself to be employed as a purveyor of blackmail and slander against those it feels constitute threats to its livelihood.”