Tag Archives: Operators

CBN Licenses 11 New Int’l Money Transfer Operators

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The Central Bank of Nigeria (CBN) yesterday licensed 11 new International Money Transfer Operators (IMTOs). The new entrants are joining Western Union, MoneyGram and Ria, which had been cleared by the CBN.

The new operators are Trans-Fast Remittance LLC; WorldRemit Limited, UAE Exchange Centre LLC; Wari Limited, Homesend S.C.R.L, Small World Financial Services Group Limited and Weblink International Limited. Others are Cash Pot Limited, DT&T Corporation Limited, Fiem Group LLC DBA Ping Express and CP Express Limited.

In a statement announcing the new operators, the CBN Acting Director, Corporate Communications, Isaac Okorafor, said the policy shift was in furtherance of efforts to liberalise the Foreign Exchange Market, ensure liquidity and make foreign exchange more readily available to low end users.

He explained that the new operators were licensed in line with the existing guidelines on International Money Transfer Services in Nigeria (2014):

The CBN also reiterated its commitment to providing an enabling environment for international money transfer services.

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CBN licenses 11 new Int’l money transfer operators

NCC To Start Regulatory Roundtable On Operators Of Telecom

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The Nigerian Communications Commission (NCC) says will start a regulatory roundtable with stakeholders in the telecoms sector on how to move the sector forward.

Mr Nnamadi Nwokike, the Director, Corporate Planning and Strategy of NCC said this on Wednesday in Abuja at the ongoing Innovation Africa Digital Summit 2016 organised by Galaxy Backbone and Extensia UK.

Nwokike said that the roundtable would bring all regulators that have inter-dependent roles with NCC together to discuss how Nigerian regulatory growth would be created.

“Our objective is that overtime we should be able to create a group, Nigerian regulatory group.
“So that we can meet more regularly and meet in different committees to discuss the issue of spectrum regulations and other areas affecting the telecoms sector.

“We have to be conscious of the fact that no firm is too big to be regulated. We will meet our operators on this table and before any law or regulations, we will have extensive conversation on how things will be done.

Nwokike said that energy “is a problem and those controlling energy will be part of the roundtable discussion, it is an issue that cuts across the sector.’’

“NCC will start the conversation and it is our hope that we think in a way that we will all be interested in investment that can move our country forward.’’
Mr Mohammed Gimba, the Head of Public Sector, Main One said that for the country to make progress in the ICT sector, there must be drive and access to internet.
Gimba said that there must be a clear vision and strategies must be put in place to achieve progress in the sector.

Credit: NAN

Solid Minerals Operators Rush To Beat License Deadline

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The Federal Government has raised more than N500m as licensees and leaseholders in the solid minerals sector struggle to beat Thursday’s deadline for them to activate their operations or lose their licenses.
Investigation by our correspondent on Wednesday showed that the Mining Cadastral Office handling the regularization of the licenses was besieged by the beneficiaries of leases and licenses due to the revocation threat.
As a result, it was learnt that more than N500m had been paid into the government coffers as the beneficiaries had been going to the banks to pay necessary fees that had accrued from holding dormant approvals granted by the Federal Government.

Telecom Operators Solicit Ample Time To Normalize Irregular SIM Registration

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Telecommunications operators have solicited that the Nigerian Communications Commission (NCC) should allow subscribers a window of time to normalize irregular SIM registration, due to the hasty disconnection of some telecom subscribers with irregular SIM registration.

Engr. Gbenga Adebayo, chairman, Association of Licensed Telecommunications Operators of Nigeria (ALTON) said that his association has put forward representation to NCC for them to realize the need for this window of time being solicited for subscribers with SIM registration issues and is waiting the Commission’s response.

“We have written to the NCC on what we think should be the process for data collection and disconnection of subscribers. Now that we are faced with these problems, we will continue to deal with them. We referred to the issue NCC raised about invalid and improperly registered SIM cards which we have been directed as should not be activated on any network. We agreed; we have no objections whatsoever. We also agreed totally that all data we collect will be domiciled with the Commission. In essence, whatever data we collect from our subscriber with respect to their privacy, we will ship them to the Commission.

“We do have few concerns about the process and we have recommended as follows: That where SIM registration records are rejected, as a result of invalid records, we should be given a period of two weeks, to notify the subscriber before we disconnect. Because what we are told now is that when we gather the data and send to the central database, once they discover any missing item, NCC asks you to disconnect them. So, we are saying, give us a declaration on the data considered improperly done within the number of days. Give us that window of time to at least involve the subscriber and normalize the data. This is critical to avoid disconnecting the subscriber who may have come with good intentions to give his/her data. During that period, we will tell the person you cannot make call, but can only receive; so, we can call the subscriber to comply with the process. But, if within the window of time the subscriber fails to comply, then disconnect other services,” he stated.

Credit: DailyTimes

$2.1bn Arms Scandal: EFCC To Arrest, Prosecute Bureau De Change Operators

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Mr Ibrahim Magu, Acting Chairman, economic and Financial Crimes Commission (EFCC) has vowed to arrest and prosecute Bureau De Change operators involved in the ongoing 2.1-billion-dollar arms deal probe.

In a statement in Abuja, EFCC spokesman Wilson Uwujaren said Magu stated this when a delegation of Bureau De Change operators visited his office .
“Information reaching me through my operatives during investigations necessitated the need to talk to you.

“Some of your operators are fond of carrying huge amounts of money out of the country, since they can no longer withdraw more than 300 dollars using the ATM.

“There are fraudulent involvements of Bureau De Change operators in the arms deal scandal,” the statement quoted Magu as saying.

The statement said that reports available to the commission showed that some of the operators withdrew as much as N500 million in two, three, four tranches in this arms deal scam.

“I am greatly disturbed and I think there will be need for proper documentation of your activities.

“This will enable your group to checkmate anyone who is involved in any fraudulent activity,” the statement added.

Credit: Leadership