Connect with us

News and Report

South Africa’s MTN, Looking to Build a Monopoly, Blocks Access to USSD Services for Nigerians

Published

on

Fresh off its hiking of transfer charges on USSD and just over a year after the Nigerian government somewhat pardoned it for not paying over $2 billion in dodged taxes, MTN is looking to drive Nigerian SMEs who sell data and airtime out of business.
The South African behemoth, which is said to have illicitly repatriated nearly $10 billion from Nigeria, has compelled SMEs who aggregate data and airtime sales to push only MTN platforms while at the same time cutting down commissions on sales. Knowing that such an action would bring undue inconvenience to millions of Nigerian, MTN told the hapless partners to “pacify Customers and educate them to use MTNToplt, MoMo channels, as well as the debit card options on MOD or myMTN App.”
MTN, like most South African companies operating in the country, has always seen Nigeria as just a cash cow. Not only has it long sought to monopolize the Telco space, it nearly paralysed Nigeria’s nascent renewable energy sector when it tried to push out independent inverter retailers with its disastrous battery product, and over the past few years has been trying to get its hand on the cash deposits of Nigerians. Meanwhile, even South Africans don’t seem to trust MTN; for example, at the end of 2019, MTN’s revenue grew by 12.6% in Nigeria and 22.9% in Ghana, but in South Africa, revenue only grew by 0.4%.
The biggest casualties of MTN’s aggressive exploitation of Nigeria are not just the SMEs who are seeing their commissions constantly cut down till they die out of business; ordinary Nigerians bear the biggest brunt, without even knowing it. Nigeria has among the most expensive mobile data prices in the world, more than 10 times what Indians pay. Telcos like MTN take advantage of their massive size to keep the price of data high so that they can keep extracting money from unsuspecting citizens and a hapless country, all the while repatriating all the money to South Africa and not paying their fair share in taxes. It is yet to be known if for once, the Nigerian government and even big private institutions will stand up and stay strong to this drowning of Nigerian SMEs and daylight robbery of the country.

Continue Reading
Advertisement

News and Report

The Words Of ANFASSC President, Prince Abayomi Ogunjimi On Sports Minister, Sunday Dare

Published

on

 

The President of Authentic Nigeria Football And Allied Sports Supporters Club, ANFASSC, Prince Abayomi Ogunjimi has hailed Sports minister, Sunday Dare and congratulated him on the success of the 20th National Sports Festival which recently came to a climax in Edo State.

Prince Ogunjimi noted that the minister showed class and quality by ensuring that the multi sports event will go ahead despite the situation of the world at a time that the Covid-19 pandemic is still at its place.

Twice, the Sports festival was postponed, but it was achieved at the end of the day with team Delta defending the crown they won in 2018.

The ANFASSC President said ” I specially congratulate the Minister for this feat, the festival could have been cancelled but he showed that the athletes and officials whose futures are attached to the event are major priority”.

“Unfortunately we at ANFASSC could not be there, but then, the success alone is enough to celebrate the sports custodian and I believe the next edition will be bigger and better”.

Delta State have been given the rights for the 2022 edition where they would want to make it a hat trick of wins

Continue Reading

News and Report

Shoprite to sell Nigerian business to Persianas

Published

on

One of Nigeria’s biggest retail store, Shoprite is planning to sell its Nigerian Business to Persianas Group Nigeria, according to reports. The company in August last year classified its Nigerian business as a discontinued operation; after it was approached by potential investors willing to take over its Nigerian operations.

Reuters quoted a source who said the store was waiting for regulatory approval; to sell the business to a Nigerian real estate investment company, Persianas.

It claimed three bank sources confirmed the sale to Persianas Retail which operates autonomously from Persianas Group.

Shoprite owned by South African billionaire Mr. Christo Wiese as well as over 2,300 stores across Africa had decried that in 2018; revenue from other countries with the exemption of Nigeria only accounted for 11.6 per cent of sales; while South African operations contributed 78 per cent of overall sales.

By the second half of 2020, Shoprite said it lost 8.1 per cent of its sales to the September xenophobic reprisal attacks on South African owned firms in Nigeria in 2019.

Prior to the announcement of its planned divestment, the retail supermarket had operated in the country for 15 years.

Continue Reading

News and Report

FIRSTBANK HOSTS WEBINAR TO SENSITISE INDIVIDUALS AND BUSINESSES ON STAYING PROTECTED IN THE INFORMATION AGE

Published

on

First Bank of Nigeria Limited, Nigeria’s leading financial inclusion services provider has announced a webinar to sensitise individuals and businesses with useful information on being protected in today’s digital age. 

 

The virtual event is scheduled to hold by noon on Friday, 16 April 2021 with “Staying Protected Amidst the Pandemic Chaos” being the topic to be discussed at the event. Registration is ongoing for the event via the link https://firstbanknigeria.zoom.us/webinar/register/WN_PUnqA7enTMG8o0OfOaWxlg 

 

Today’s world, largely referred to as the digital age has been influenced by information technology which has optimised the way we carry out our individual and business activities. 

 

However, the current age has been marred by illicit activities like identity theft, internet fraud amongst many others which poses a risk to the safety of individuals and businesses. Attending the webinar will have participants knowledgeably equipped with vital information that will ensure they make informed decisions, thereby promoting their safety whilst staying protected against possible risks and malicious attacks.

 

Tope Aladenusi, Chief Strategy Officer & Cyber Risk Services Leader, Deloitte West Africa; Confidence Staveley, Cyber Security Evangelist/ Founder, Cybersafe Foundation and Harrison Nnaji, Chief Information Security Officer, FirstBank will lead the discussion at the event.

 

Speaking on the planned Webinar, Dr. Adesola Adeduntan, CEO of FirstBank Group noted that “the world as a global village is associated with not just benefits but also risks of cyberattack and for individuals, businesses and governments to make the best out of the digital and online opportunities, they need to be deliberate in protecting themselves against cybersecurity threats”.

He further noted that, “in today’s digital age, which the pandemic has accelerated the embrace, cyberattacks are occurring at an alarming rate across the world. As such, no individual, business or government entity with digital and online presence is immune to cyberattacks; and the financial, physical and legal implications of an attack can be significantly upsetting.’’

In concluding, he enjoined everyone to participate in the forthcoming webinar as it is a viable opportunity to stay informed whilst being abreast with current trends that are pivotal to promoting safety in today’s world that is driven by information technology”.

Continue Reading

Trending