Tag: economy

NCC Begins Enforcement of N5m Fine over Unsolicited Messages

Professor Umar Danbatta, executive vice chairman, Nigerian Communications Commission (NCC)

Nigerian Communications Commission (NCC), has said that it has commenced the enforcement of the Do Not Disturb (DND) code which compels mobile network operators to stop sending unsolicited messages to their subscribers.

Prof Umar Dambatta executive vice chairman of NCC at a meeting with the Academia on ITU Study Group Participation held at Digital Bridge Institute, Abuja, said the move became imperative because the NCC had given the operators ample time to comply with the regulatory directive and was now ready to enforce the N5 million fine stipulated for any breach of the directive by the regulator.

He said: “If a consumer lodges a complaint to NCC that an MNO sent unsolicited text message and the complaint from the consumer get to us, we will ensure that credit deducted from the consumer for this unsolicited text messages is returned to the consumer and will also invoke provision of the fine on the MNO which is N5 million.

“This is to ensure total compliance and this is a measure of last resort. The NCC imposes regulation as a measure of last resort, after we have given the MNO time to ensure compliance and we have monitored them to ensure compliance to ensure that the compliance is not selective.”

 

Culled from Nigeria communications weekly

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Happy New Year!!!

We welcome you, our dear valued customer to 2017.

And we wish you a lovely and fulfilling year ahead.

 


NIBSS, banks, Telcos unveil mobile payment solution, mCash | VAS2Nets Technologies

The Nigeria Interbank Settlement Scheme, NIBSS in collaboration with all the money deposit banks in Nigeria and the four major telecommunications operators, Etisalat, MTN, Airtel and Globacom, has launched a new mobile money payment solution.

Known as mCash, the new mobile money solution will facilitate low value retail payments; grow e-payments by providing accessible electronic channels to a wider range of users and to further enhance financial inclusion in Nigeria, by extending e-payment benefits to payers and merchants at the bottom of the pyramid where usage of cash has been predominant.

The mCash utilizes Unstructured Supplementary Service Data, USSD code in payment processing. Merchants can deploy mCash as a payment channel by registering with their banks, who will issue them an 8-digit seller code which buyers or payers need to use while making payments to them.

A customer who wants to make payments through mCash, has to dial the universal code, *402*SellerCode*Amount#. Upon dialing the code, the name of the seller will appear and a list of banks a customer wishes to make payments from. The user can then select a bank and input passcode to authenticate and complete the transaction. Upon completion of the transaction, both the buyer and the seller will receive flash confirmation of debit and credit messages instantly.

However, only mobile numbers linked to a user’s BVN are allowed for mCash transactions.

Although all the banks have signed up to integrate into the solution, at the moment, only six banks have been brought on-board and are active. These include: Diamond bank, Fidelity bank, Unity bank, Zenith bank, Sterling bank and Wema bank. First City Monument Bank, FCMB and Union Bank are expected to go live by this week.

Users are charged N20 per transaction through mCash for all transactions below N10, 000 while all transactions above N10, 000 cost N50 to both the merchant and the customer. Should transactions fail a resolution is guaranteed within six hours.

At the launch in Lagos, the MD/CEO of NIBSS, Mr. Ade Shonubi said: “The whole intention of mCash is to broaden the opportunity for people who rely mostly on usage of cash to find convenient means of making payments electronically.

The CBN has been pushing the cashless initiative for a long time and we have seen significant gains but a lot of people who have benefited so far have been the banking customers. And we need to deepen and reach out to a lot more people, as we begin to make real the dream for financial inclusion and as we begin to realize that a lot of government’s social programme will touch a different set of people.

 

Culled from Vanguard

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NCC Warns Telecom Subscribers over Use of Substandard Handsets

Nigerian Communications Commission (NCC) has warned telecommunication consumers against the usage of substandard handsets.

Mr Joseph Atoyebi, deputy director, Consumer Affairs of the commission gave the warning some days ago in Abakaliki during a Consumer Outreach Programme .

According to him, such handsets are responsible for the various network and related problems they experience during dialing or receiving of calls. “Consumers should use the handsets outlined in our manual as they have been certified to be efficient for telecommunication usages,” he said.

Atoyebi also urged consumers who use smart phones to be aware of its complexities which are responsible for the difficulties experienced while using them.

“Many consumers complain that their data and credit are illegally deducted by service providers but they should understand that smart phones have various complex attributes.

“Smart phones should be switched-off when not in use as they automatically upgrade themselves and can deduct data in the process,” he said.

He also informed consumers that borrowing of credit from service providers is a business strategy which is not offered without costs.

 

Culled from Nigeria Communications weekly

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Mark Zuckerberg is in Nigeria!!

Mark-Zuckerberg

Mark Zuckerberg, Facebook’s Chief Executive Officer, is currently in Nigeria to see how Facebook can better support technology development and entrepreneurship in the country and other African nations.

The Facebook CEO visited a ‘Summer of Code Camp’ at the Co-Creation Hub in Yaba, otherwise known as the Silicon Valley of Nigeria, as one of his first stops on the trip.

 

Culled from Punch

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PIG FARMING

Are you aware that Pig Farming is an extremely big business in Nigeria? A lot of people don’t seem to notice the opportunity around this business.

pig1

Pigs are highly reproductive animals; a single Pig gives birth to as much as 15 piglets at a time. And a fully grown Pig goes for as high as =N=20,000 – =N=30,000 depending on the weight of course.

pig3

It’s believed that due to the ignorance of how it works, a lot of people don’t pay much attention to the huge profits being generated from Piggery.

pig2

To know more about Pigs and how to take care of them, you can subscribe to our mAgric service by simply texting:

PIG to 32122 at =N=30/ 2 days (for Airtel users)

PIG to 35131 at =N=50/ 5 days (for Etisalat users)

PIG to 32126 at =N=30/week (for MTN users)

 

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Mobile Job Alert service | VAS2Nets Technologies

For those still in search of Jobs or need a change in their current job, take advantage of our Mobile Job alert service by simply sending the keywords below:

JOB ALL

JOB TECH

JOB BIZ

JOB ENGR

JOB MED

I.e. for General, Technology, Business, Engineering and Medical jobs respectively.

Send the above to 20123 (Airtel Users only) at =N=10/day and 35131 (Etisalat Users only) at =N=50/week.

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Naira falls to N345/$ in parallel market

The naira, yesterday, suffered its biggest daily depreciation against the dollar as it exchanged for N345 to a dollar in the parallel market. This represents N20 depreciation when compared with the closing exchange rate of N325 per dollar in the market on Friday. But the naira was relatively stable at the official interbank foreign exchange market as the interbank rate stood at N197.47 per dollar at the close of business, yesterday.

The naira also depreciated by N45 against the British pound as the parallel market exchange rate rose to N485 per pound, yesterday, from N340 on Friday. Bureau de Change sources, who confirmed the development to Vanguard, attributed the sharp depreciation to persistent scarcity of the dollar and pound sterling in the market.

According to an Abuja-based BDC operator, who spoke on condition of anonymity, “the market is experiencing huge demand for dollars but there is no supply. Even those who have dollars are not willing to sell. The way things are going, the rate might reach N350 per dollar before it stabilises.”

Culled from Vanguard

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Federal Government officially stops petrol subsidy

Fuel-pump

The Federal Government has officially ended the subsidy on premium motor spirit, popularly known as petrol. The latest Petroleum Products Pricing template, issued by the Petroleum Products Pricing Regulatory Agency does not contain the usual subsidy component.

The PPPRA is the government agency that regulates the prices of petroleum products in the country and its template has always offered insights into how the pricing of these products are determined by the regulators.

As of December 28 last year, the official pricing template for petrol by the PPPRA showed that the Federal Government subsidized the product by N6.45 per litre. The Expected Open Market Price at that time was N93.45, which was N6.45 higher than the then retail price of N87 per litre.

On the revised template, the Estimated Open Market Price set by the regulator is now N84.78 for NNPC fuel stations and N85.1 for stations run by other oil marketer companies.

The EOMP is the summation of the landing cost of petrol and subtotal margins. Such margins include transporter’s cost, dealer’s charge, bridging fund, administrative charge, etc. Our correspondent said that the EOMP, therefore, is the true cost of the product.

Before the release of the revised template, the EOMP was usually higher than the retail/pump price of petrol at filling stations. The difference between the retail price and the EOMP was what the Federal Government paid as subsidy to oil marketers.

However, the new EOMP is lower than the retail price of N86.5, which was set by the Federal Government as the amount at which petrol should be sold nationwide. The implication is that Nigerians are paying an extra N1.4 for the commodity whenever they buy PMS at non-NNPC run petrol stations and N1.22 extra for every litre of petrol bought at NNPC-run filling stations.

On the extra amount paid by consumers for the commodity, the Group General Manager, Corporate Planning and Strategy, NNPC, Mr. Bello Rabiu, while explaining the template, told our correspondent that the negative subsidy would be remitted to the Petroleum Support Fund in line with the PPPRA guidelines.

He said, “The savings under such a regime could be domiciled in the PSF as a buffer to fund future subsidy (if any) that may arise during high oil price regime or invested by the industry in supply and distribution efficiency improvement projects such as decongestion of Apapa area, Single Point Monitoring in Port Harcourt and Warri, complimentary rail services, inland waterways, etc.”

The PPPRA, after getting approval from the Federal Government, had announced last Tuesday that retail filling stations belonging to the NNPC would from Friday, January 1, 2016 sell petrol at N86 per litre, while other oil marketers would sell the commodity at N86.5 per litre.

The Executive Secretary, PPPRA, Mr. Farouk Ahmed, while announcing the new price of PMS in Abuja, had told journalists on Tuesday that the reduction in the price of the commodity was due to the implementation of the revised components of the petroleum products pricing template for PMS and House Hold Kerosene.

He said the template would be reviewed on a quarterly basis as it was geared towards ensuring an efficient and market-driven price that would reflect current realities.

Ahmed had said, “Since 2007, while crude oil price had been moving up and down, the template has remained the same. This made it necessary for us to introduce a mechanism whereby the template would be sensitive to the price of crude oil.

“However, the template is not static, as there would be a quarterly review and if there is any major shift, the Minister of State for Petroleum Resources would be expected to call for a review, either upwards or downwards. If there is no major shift, the price would continue from January to March 2016. In addition, there would be a Product Pricing Advisory Committee that would be set up to advice the PPPRA concerning movements in the price of crude oil.”

On why the NNPC sold at a lower price than other oil marketers, Ahmed explained that it was due to the fact that it was cheaper for the corporation to import products, compared to the independent and major oil marketers.

Some oil marketers had told our correspondent that although it was possible to sell PMS at a “reduced price”, Nigerians might not be ready to absorb future fluctuations or modulations in the pump price of petrol.

The Corporate Affairs Manager, NIPCO PLC, an oil marketing firm, Mr. Lawal Taofeeq, said, “It is possible, but the issue that government needs to understand is that, should there be fluctuation in price, are Nigerians ready to absorb it? If the price of crude oil should go up again, will Nigerians be ready to pay the resultant increased cost for petrol? Thus, there is need for adequate education in this matter.”

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, on December 27 last year, had told journalists in Kaduna that the government was currently not paying subsidy on petrol.

“Today, there is no subsidy; we are selling the product at N87; in January, we will look at what the trend is, we will announce (a new) price if that is less than N87; we will announce it and if it is more than that, we will have to announce it,” the minister, who also doubles as the Group Managing Director of the Nigerian National Petroleum Corporation, had said.

 

Culled from Punch.

 

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BULK SMS AWARD!!

BULKSMS AWARD

The winning Team

The winning Team

 

Compliments of the Season.

We are happy to inform you that thanks to your patronage and patience we emerged the best mobile bulk messaging and Network Solutions Company for the year 2015.

The award was from the Institute for Government Research Leadership Technology, presented at the recently concluded awards ceremony held in Abuja.

And since we believe that to whom much is given much is equally expected, we therefore promise to keep up the good work.

We’ve decided to seize this opportunity to remind you of the bulk sms process especially as the Yuletide is here. Fortunately, a bulk sms executive has been assigned this role for effective crediting and problem escalation.

After making payment at the Ecobank (Account Name: VAS2Nets Technologies Limited

Account Number: 2812003603) for those paying through the bank, please remember to use your email address as depositors’ name, send an email to bulksms@vas2nets.com with your details and call 08141381020 for your account to be credited.

But for our customers who prefer to purchase directly on our platform the process still remains the same. Simply login to our platform, click on Payment and follow the procedure stated.

For further clarification please don’t hesitate to call our bulksms executive on 08141381020.

 

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