Business
NCC Reassures Telecom Subscribers On Quality Service
The Director, Con
sumer Affairs Bureau, Nigerian Communication Commission (NCC), Mrs Maryam Bayi, has reassured subscribers of the commission’s effort to protect their interests.
She said this during the 4th Quarterly meeting of the Industry Consumer Advisory Forum (ICAF) organised by the commission over the week in Abuja.
Bayi, hinted that NCC has already set up a committee that would examine the best way to compensate consumers who exhausted their airtime as a result of poor quality service.
The NCC’s director, said service providers would be held responsible for any interrupted service that falls short of consumer satisfaction.
She challenged telecommunication operators to come up with modalities or proposals on how consumers could be directly compensated.
According to her, telecom providers may not have their way as usual, should they fail to find ways in which short-changed subscribers would be adequately compensated before the end of January 2015.
She regretted that subscribers still receive some unsolicited messages, despite the agency’s warning against such, saying that moves are already underway to tackle the menace.
She revealed that the commission’s concern over phone users in the country has reduced the issue of complaints which according to her, was on the increase.
The agency, also frowned at the activities of some state and local governments over telecom development, revealing that their activities did not provide safe ground for the telecom industry.
Also speaking, the Executive commissioner stakeholder management, NCC, Dr Okechukwu Itanyi, hinted that poor quality service was as a result of vandalism, multiple taxation and others.
He noted that until something positive was done, the country may not achieve the issue of enhanced quality of service.
Earlier, he had said that the agency as well as other stakeholders would toil continuously until some better changes were visible in the nation.
Business
Private sector gets N2.2tr credit in 30 days — CBN
Credit to Nigeria’s private sector rose to N83.26 trillion in June 2026 from N81.04 trillion in May, signifying a positive balance of N2.22 trillion month-on-month.
Year-on-year, the figure represents a nine per cent increase compared with the N76.13 trillion recorded in June 2025. The latest figures come as the CBN continues to balance efforts to control inflation with the need to support economic growth and expand credit to businesses.
The CBN data shows that credit to Nigeria’s private sector increased by approximately 2.74 per cent month-on-month between May and June 2026. Also, the CBN data noted that credit to the government fell slightly to N40.03 trillion from N40.38 trillion. Other assets, net, dropped to N10.76 trillion from N12.63 trillion.
The credit surge signifies sustained growth in lending to businesses and other private-sector borrowers during the month. The rise in private sector credit was recorded alongside an increase in net domestic credit, despite declines in credit to government and other assets.
Further analysis of the report says that compared with June 2025, private sector credit rose by about N7.13 trillion yea-on-year but net domestic credit increased by approximately N1.87 trillion during the month.
The CBN’s relatively tight monetary policy stance notwithstanding, more banks still loaded funds to the private sector within the period. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 306th meeting on July 20 and 21.
The Committee reviewed recent developments in the global and domestic economies, assessed emerging risks to the outlook and considered their implications for monetary policy and retained all rates.
The Committee decided to retain the Monetary Policy Rate at 26.5 per cent; the Standing Facilities Corridor around the MPR at +50/-450 basis points and retain the Cash Reserve Requirement (CRR) for Deposit Money Banks at 45.00 per cent, Merchant Banks at 16.00 per cent, and non-TSA public sector deposits at 75.00 per cent.
The MPC decision means that credit extension in the private sector will likely continue to rise because of rising confidence in the sector and calls by stakeholders for banks to invest in the private scetor instead of government securities.
Business
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Business
NDDC Intensifies Women Empowerment Initiative Across Niger Delta
