Ict/Telecom
NCC To Sanction Providers Over Porting
Nigeria Communications Commission (NCC), has said it would apply sanction if any anti-competitive behaviour was established against any service operators on porting issues.
NCC’s Public Affairs Director, Mr. Tony Ojobo noted that porting to any network could not be denied by service providers for whatever reason.
Disclosing this to newsmen in Abuja recently said that the Mobile Number Portability (MNP) regulations clearly spelt out the responsibilities of the telecomm operators, the MNP clearing house and the commission.
Ojobo said that the provisions in the regulation of MNP indicated that porting request to any network could not be denied except if a subscriber was owing or had issues of false identity.
He explained that false registration was when a person who made a request for porting was not the person that was captured in the data base during the SIM registration.
Ojobo added that a SIM that was not registered could be denied porting to any network.
He said that if the above issues were not the case, then porting to any network was meant to be completed within 24 hours according to the MNP regulations.
“We want Nigerians to be rest assured that all of these challenges will be dealt with; the commission will apply sanction where there is need for us to do so.
“Where we find out that there are any anti-competition behaviour on the part of any network there would be sanction because we have the provision in our Act to deal with anti-competitive behaviour.
“And also the MNP regulations have spelled out what NCC should do in an event of any of such behaviour.
“So we want the Nigeria consumers to be patient; am apologising for the initial challenges, but within a short time am sure all these will be a thing of the past,’’ Ojobo said.
He advised that if porting was not completed within the time frame given in the regulation, the person making the request should report to the recipient operator.
Ojobo added that if the subscriber did not get any response, that subscriber should report to NCC stating the particular network that was not letting him or her to port.
He said that such subscriber would need to give specific information on the day the request was made, the place the request was made, the network the person was porting from and the network porting to.
Ojobo gave the assurance that once the commission got the above reports, it would deal with the matter.
Some selected subscribers in FCT, complained that they had experienced difficulties in porting to networks.
Mrs Patience Chuckwuma, a civil servant, said that over a week now she had being trying to port but could not port.
“I am not happy that it is not working,’’ this system will help in any way to improve quality of service.’’
Mr John Adama, a businessman said that trying to port had caused him to lose a business deal worth millions because he was unable to port so therefore could not be reached on phone.
Adama said that since the launch of MNP the quality of service in the country had been bad, “One cannot even make a complete call at a dial.’’
The Managing Director, Shell Nigeria Exploration and Company Limited (SNEPCo), Elohor Aiboni, said Bonga, Nigeria’s first deep-water asset, has recorded major milestones, due to effective leadership, cutting-edge technology, continuous improvement and collaboration with stakeholders.
She noted that since coming on stream in November 2005, Bonga has maintained a track record of production that saw it achieve one-billion-barrel export on February 13, last year.
In her presentation, titled “The Bonga Journey to a Billion Barrels”, at the ongoing 2024 Offshore Technology Conference in Houston, Texas, United States, Aiboni, said: “SNEPCo is grateful for the contributions of all the parties to the Bonga story and we can all be proud of the milestones.
“Bonga has been consistent. In 2014, nine years after coming onstream, it achieved half a billion barrels of crude and doubled it in 2023. We have worked relentlessly to ensure excellent asset management, project and wells delivery and deployment of technology and innovations in our operations”.
According to her, these factors, “coupled with the supportive partnership of the Nigerian National Petroleum Company Limited and our co-venturers – TotalEnergies, EP Nigeria Limited; Nigerian Agip Exploration; and Esso Exploration and Production Nigeria Limited, make Bonga stand out as a world-class investment case”.
She continued that, “SNEPCo also enjoyed the support of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Content Development and Monitoring Board (NCDMB) in the success of Bonga operations”.
Aiboni also listed the challenges of keeping the Bonga Floating Production, Storage and Offloading vessel full as the asset ages and dealing with unexpected developments with subsea wells and equipment.
She said: “SNEPCo responded with a campaign of operational excellence, which among other initiatives, led to the creation of a programme known as the Bonga Business Improvement Plan that continually reviews and identifies improvement initiatives and drives sustainability in operations and upskilling of staff.
“The Bonga success story has been led by Nigerians who have been managing directors of SNEPCo since it was established in 1993, in a deliberate policy by Shell to develop indigenous manpower for deep-water operations in Nigeria.
“Today, some 97percent of the SNEPCo workforce is Nigerian and overall, Bonga has helped to create a new generation of Nigerian deep-water professionals.
“Our vision at SNEPCo remains to be the best deep-water business, powering growth and achieving net zero emissions in line with Shell’s Powering Progress strategy”.
Banks’ borrowings from the Central Bank of Nigeria (CBN) fell month-on-month, (MoM) by 44 percent to N12.16 trillion in April from N21.7 trillion in March.
Analysis of latest data from the CBN shows that the 44percent drop represents the first MoM decline in banks borrowing from since January when it increased by 268.7 percent to N3.6 trillion from N976.29 billion in December 2023.
However, further analysis showed that banks’ deposits in the CBN SDF grew MoM by 118.4 percent to N428.97 billion in April from N196.37 billion in March 2024.
Banks make use of the SLF to access liquidity to run their day-to-day business operations while the Standing Deposit Facility window (SDF) on the other hand, is an overnight deposit facility that allows banks to lodge excess liquidity (money) with the CBN and earn interest.
The decline in banks’ borrowing from SLF may reflect an increase in banking system liquidity and also the decision of the apex bank last year to remove the limit on the remunerable daily placements by banks at the SDF.
According to the CBN Governor, Mr. Olayemi Cardoso, the CBN removed the cap on the remunerable SDF to increase activity in the SDF window and manage liquidity.
A Financial technology expert, Olatunji Akinrinola, has highlighted the exponential growth of the FinTech industry, which according to him, was driven by technological advancements.
Akinrinola made this assertion in a press release recently, where he stressed that the role of technology in driving this exponential growth in the FinTech sector was very outstanding.
According to him, Technology has revolutionised the way financial services are delivered, making them more accessible, efficient, and inclusive.
“Through innovations such as mobile banking, digital payments, and blockchain technology, FinTech companies have been able to reach a larger population and provided them with access to financial services”, he stated.
Akinrinola emphasised the role of technology in enabling financial inclusion, adding: “Technology has democratised access to financial services, particularly in regions with limited banking infrastructure.
“Mobile money platforms and digital wallets have empowered individuals to conduct financial transactions conveniently and securely, without the need for traditional banking services”.
He also underscored the role of Artificial Intelligence (AI) and data analytics in driving innovation within the FinTech industry, noting: “AI-powered algorithms and predictive analytics have revolutionised risk assessment, fraud detection, and customer personalisation in financial services.
“These technologies enable FinTech companies to provide tailored solutions and mitigate risks more effectively, ultimately enhancing the overall customer experience”.
Akinrinola stressed the importance of regulatory frameworks in fostering the growth of the FinTech industry.
“While technology has accelerated the growth of FinTech, it is essential to establish robust regulatory frameworks to ensure consumer protection and maintain market stability. Regulators play a crucial role in balancing innovation with risk management, thereby creating a conducive environment for the sustainable growth of the FinTech sector”, he stated.
Akinrinola underscored the role of technology in driving the exponential growth of the FinTech industry, saying, “Technology has been a game-changer for the FinTech sector, enabling innovation, expanding access to financial services, and driving economic growth.
“As technology continues to evolve, the FinTech industry will undoubtedly play a significant role in shaping the future of financial services ecosystem”.
Corlins Walter
