Connect with us

News

NCC Orders Telcos To Disconnect Banks, FCMB, Fidelity , Others Over USSD Debt

Published

on

Due to a backlog of unpaid debts, the Nigerian Communications Commission has authorised telecommunications companies to disconnect the Unstructured Supplementary Service Data codes assigned to nine financial institutions.

The directive signed by NCC’s Director of Public Affairs, Reuben Muoka on Tuesday and obtained by Channels Television, noted that the affected banks are to pay the outstanding debts by January 27, 2025, or risk losing access to their USSD codes.

The regulator did not, however, state the amount of the debt owed by the nine banks.

According to the NCC public notice, nine out of 18 financial institutions had not complied with regulatory directives.

Advertisement

It said while other banks have cleared their debts, the total amount initially owed by the financial institutions was reported to exceed N200 billion.

According to the NCC, some of the unpaid invoices have remained unpaid since 2020.

Part of the notice read, “By the information made available to the commission as at close of business on Tuesday, 14th January 2025, of a total of 18 financial institutions, the nine institutions listed below have failed to comply significantly with the directives in the Second Joint Circular of the Central Bank of Nigeria and the commission dated December 20, 2024, for the settlement of outstanding invoices due to MNOS, some since 2020.”

The affected financial institutions include Fidelity Bank Plc, First City Monument Bank, Jaiz Bank Plc, Polaris Bank Limited, Sterling Bank Limited, United Bank for Africa Plc, Unity Bank Plc, Wema Bank Plc, and Zenith Bank Plc.

Advertisement

The affected USSD codes include 770, 919, and 822, among others, could be reassigned to other applicants if the debts remain unresolved.

The regulator noted that banks’ failure to comply with the CBN-NCC joint circular also means that they are unable to meet the good standing requirements for the renewal of the USSD codes assigned to them by the commission.

It added, “In fulfilment of its consumer protection mandate, the commission wishes to inform consumers that they may be unable to access the USSD platform of the affected financial institutions from January 27, 2025.”

The NCC emphasised that the financial institutions had been duly notified of the need for immediate compliance and warned that consumers may face service disruptions if the issues remain unresolved.

Advertisement

Meanwhile, data from the CBN revealed that 252.06 million transactions worth N2.19 trillion were conducted via USSD between January and June 2024.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

HAJJ: Jigawa pilgrims face January 30 registration deadline

Published

on

Jigawa State Pilgrims Welfare Board has fixed 30th January as deadline for registration of intending pilgrims for the 2025 Hajj.

A statement from the Director General, Jigawa State Pilgrims Welfare Board, Alhaji Ahmed Umar Labbo said the new deadline was as a result of adjustment by National Hajj Commission of Nigeria (NAHCON) of the 2025 calendar directing states pilgrims welfare boards and agencies to remit all collections by the 1st of February.

Labbo added that the Jigawa State Board has so far exhausted over 40% of its allocation for this year’s Hajj since the commencement of the registration in September last year.

He called on the intending pilgrims to utilize the opportunity to make deposit for the Hajj before the new deadline to benefit from the Board’s outstanding services in Hajj operations.

Advertisement

To register, intending pilgrims are required to pay a deposit of N8.4 million before the deadline. This amount is pending the official announcement regarding the total fare for this year’s Hajj by NAHCON.

It is crucial for those interested from Jigawa State to act promptly as registration operates on a first-come, first-served basis, ensuring fairness in securing seats for the pilgrimage.

Reports have it that NAHCON has allocated 1,518 seats to the state for the 2025 Hajj.

Advertisement
Continue Reading

News

Otedola Vs Obaigbena: Crude oil cargo owned by General Hydrocarbons arrested

Published

on

The legal tussle between Femi Otedola’s First Bank and Nduka Obaigbena’s General Hydrocarbons Limited has intensified.

In the latest development, the Federal High Court in Port Harcourt has granted an order to arrest and detain the crude oil cargo on board the Floating Production Storage and Offloading (FPSO) Vessel Tamara Tokoni.

A report by PREMIUM TIMES said that personnel of the Nigerian Navy had since detained the cargo in line with the court order.

The FPSO on board vessel Tamara Tokoni belongs to General Hydrocarbons, an oil servicing firm owned mainly by Mr Obaigbena, who also serves as Chairman and Editor-in-Chief of THISDAY and ARISE Media Group.

Advertisement

The businessman’s oil firm and First Bank are locked in a knotty legal conflict over credit facilities his company took, which the bank claimed missed several repayment deadlines.

First Bank is claiming $225.8 million, which it said is the indebtedness on General Hydrocarbons‘ account with the lender as of 30 September 2024.

The 9 January ruling by Justice E.A. Obile ordered the detention of the crude oil cargo on board FPSO Tamara Tokoni pending the provision of a “satisfactory Guarantee from a first-class Nigerian Bank of $19.7 million plus interest and costs by the said Defendants…”

The order also directed officers of the Nigerian Navy, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Nigerian Maritime Administration and Safety Agency (NIMASA), and the Harbour Master of the Nigerian Ports Authority (NPA) to provide the necessary assistance in implementing the order of arrest of the FPSO Vessel Tamara Tokoni.

Advertisement

The judge also ordered the security officials to take necessary steps, including providing “regular patrols and surveillance around the cargo of crude oil to prevent General Hydrocarbons Limited from dissipation until the Order of this Court has been complied with in respect of the arrest of the FPSO on board Tamara Tokoni.”

The court then adjourned the matter to 9 February 2025 for a continuation of the substantive suit.

In a subsequent letter to the Chief of Naval Staff, the Federal High Court sought the Nigerian Navy’s assistance executing the court order to arrest and detain the crude cargo on board FPSO Tamara Tokoni.

● Background

Advertisement

First Bank Vs General Hydrocarbons
First Bank had filed a debt recovery suit against Mr Obaigbena and his family members, including Efe Damilola Obaigbena and Olabisi Eka Obaigbena, saying they used their oil company General Hydrocarbons Limited to amass millions of dollars in debt.

The bank secured an order from the Federal High Court, Ikoyi, Lagos, blocking the accounts and assets of Mr Obaigbena, his company and those of his two daughters holding directorship roles on the board of General Hydrocarbons in all commercial banks in Nigeria.

General Hydrocarbons issued a statement through Abiodun Layonu & Co, its solicitors, describing the order obtained by First Bank as an “abuse of court process.”

The lawyers called attention to a previous order granted by Justice A. Lewis-Allagoa of the same court on 12 December 2024, prohibiting First Bank from hindering General Hydrocarbons from accessing loan facilities or funding required for the exploration and operation of oil and mining lease (OML) 120.

Advertisement

Both parties had entered into a loan agreement requiring the lender to finance the running of OML 120, with the understanding that they would share any profit from the investment equally.

General Hydrocarbons alleged that First Bank had breached some of the facility’s terms, including not disbursing the credit on time.

According to a document seen by PREMIUM TIMES, General Hydrocarbons also obtained an injunction from the judge, restraining First Bank from hindering the company from “making any calls or demands, or taking any steps whatsoever to enforce any security, receivables, instrument, finance documents or assets of the applicant which have been charged as security for the facility agreements in respect of the applicant’s operation of OML 120.”

In their statement, General Hydrocarbons remarked that First Bank has persisted in ignoring and disobeying a persisting court judgement and has chosen to mislead the public.

Advertisement

But First Bank denied breaching any court order, saying the assets freezing order it obtained did not violate the court’s earlier ruling in favour of General Hydrocarbons.

Premium times

Continue Reading

News

Mozambique inaugurates new president , Wednesday

Published

on

Mozambique President-elect Daniel Chapo will be sworn into office Wednesday after weeks of deadly political unrest but the main opposition leader has vowed to “paralyse” the country with fresh protests against the fiercely disputed election result.

Venancio Mondlane had already called for a national strike in the days leading up to the inauguration and threatened on Tuesday to curtail the new government with daily demonstrations.

Mondlane, 50, who is popular with the youth, maintains the October 9 polls were rigged in favour of Chapo’s Frelimo party, which has governed the gas-rich African country since independence from Portugal in 1975.

“This regime does not want peace,” Mondlane said in an address on Facebook Tuesday, adding his communications team was met with bullets on the streets this week.

Advertisement

“We’ll protest every single day. If it means paralysing the country for the entire term, we will paralyse it for the entire term.”

Chapo, 48, called for stability on Monday, telling journalists at the national assembly “we can continue to work and together, united… to develop our country”.

International observers have said the election was marred by irregularities, while the EU mission condemned what it called the “unjustified alteration of election results”.

The swearing in ceremony was expected to be snubbed by foreign heads of state, a move “which sends a strong message”, Maputo-based political and security risk analyst Johann Smith told AFP.

Advertisement

Former colonial ruler Portugal is sending Foreign Minister Paulo Rangel.

“Even from a regional point of view there is a hesitancy to acknowledge or recognise that Chapo won the election,” Smith said, pointing out that neighbouring South Africa’s president would also not be attending.

The extent of the unrest from now on “depends on how Chapo will tackle the crisis”, analyst Borges Nhamirre told AFP.

The inauguration of parliamentary lawmakers Monday was held amid relative calm in the capital, Maputo.

Advertisement

The streets were deserted, with most shops closed either in protest against the ceremony or out of fear of violence, while military police surrounded the parliament building and police blocked main roads.

Still, at least six people were killed in the Inhambane and Zambezia regions north of the capital, according to local civil society group Plataforma Decide.

– Possible concessions –

Unrest since the election has claimed 300 lives, according to the group’s tally, with security forces accused of using excessive force against demonstrators. Police officers have also died, according to the authorities.

Advertisement

Chapo, who is expected to announce his new government this week, could make concessions by appointing opposition members to ministerial posts to quell the unrest, said Eric Morier-Genoud, an African history professor at Queen’s University Belfast.

There have also been calls for dialogue but Mondlane has been excluded from talks that Chapo and outgoing President Filipe Nyusi have opened with the leaders of the main political parties.

Chapo has repeatedly said however that he would include Mondlane in talks.

Mondlane, who returned to Mozambique last week after going into hiding abroad following the October 19 assassination of his lawyer, has said he was ready for talks.

Advertisement

“I’m here in the flesh to say that if you want to negotiate… I’m here,” he said.

According to official results, Chapo won 65 percent of the presidential vote, compared to 24 percent for Mondlane.

But the opposition leader claims that he won 53 percent and that Mozambique’s election institutions manipulated the results.

Frelimo parliamentarians also dominate the 250-seat national assembly with 171 seats compared to the Podemos party’s 43.

Advertisement
Continue Reading

Trending

Copyright © 2024 Naija Blitz News