Business
‘NCC Won’t Shift Grounds On Sanctions’
The Director, Public Af
fairs, Nigerian Communications Commission (NCC), Mr Tony Ojobo, last Wednesday said that the commission was not ready to shift ground on the sanctions made to service providers.
Ojobo said this at a news conference in Abuja after a meeting with Chief Executive Officers’ of the service providers.
He said that the deadline given to the service providers by the commission to pay fines for poor service delivery expired on May 25 and none of them had complied till date.
He insisted on the position of NCC that the sanctions and the penalties would have to be paid by the service providers.
“NCC is not ready to shift ground, we are re-emphasising that we are maintaining our stand on the payment of sanctions.
“We are not reconsidering our position, we have not indicated that the default period has been waived. So, nothing is waived, neither the regional sanction nor the default period penalty at the time of payment, all of that have to be paid.
“So, we have entered the default period from May 26, so counting from 26th of May to anytime payment is made, it is N2.5 million per day of default,’’ Ojobo said.
He said that the management of the commission agreed to meet with the CEOs of the service providers so as to find out if there would be any new issues that would be raised.
Ojobo said that at the meeting, the NCC sought to know reason for their coming and the service providers indicated that they wanted to see if NCC could review its position on the sanction.
He said that the service providers attributed the cause of poor quality service to inadequate power supply, cable cut, multi taxation, adding that these challenges were not new to the commission.
The NCC spokesperson said that the issue of quality of service had been on in the last six years until January this year when the quality of service guideline was gazetted.
Ojobo said that in the guideline of the key performance indicators, after the deadline for the payment of the sanction, there was going to be N2.5 million penalty for each day of the default.
“We are already in a default period and it is expected that the sanctions as well as the default penalties have to be paid,’’ he said.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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