Daily Bells Newspaper, Author at Business Bells — Page 13 of 31

Author: Daily Bells Newspaper

Customers to Enjoy Massive Home Broadband Discounts as Airtel Rolls Out ‘HBB Seasonal Offer’

Airtel Nigeria has announced the introduction of its HBB Seasonal Offer, a value offering that offers customers exciting discount deals on its Home Broadband devices.

The telco says the offer is designed to ensure its Home Broadband customers get the best out of its Broadband services on the widest 4G Network in Nigeria.

According to Airtel, customers now have the opportunity to own Airtel Home Broadband (HBB) devices such as routers and MiFis at discounted rates bundled with Broadband Data from June 1, 2021 till August 31st, 2021.

The Routers, which were previously priced at N25, 000 will be sold at N19, 999 with up to 160GB bonus data and Mifis hitherto sold at N12, 000 can now be purchased for N9, 999 with up to 55GB bonus data.

Commenting on the new offer, Godfrey Efeurhobo, Director, Home Broadband, Airtel Nigeria, said the HBB Seasonal Offer will further extend Broadband experience to more customers across the Country.

According to him, the offer, which has been designed to meet the growing demand for quality Home Broadband experience with consideration for affordability is a veritable platform to support the new normal of Work from Home, Study from Home, Entertainment at home with friends and loved ones, connecting multiple devices simultaneously to Wi-Fi with superior data quality seamlessly.

“Airtel is committed to creating unique and innovative value propositions that makes life simpler, easier, better and more fun for all its customers.

“There is a growing demand for superior internet connectivity on Home Broadband internet, and with this new offer, we are confident that consumers in the segment will have an enriched experience and be further empowered to realize their full potentials, especially with its affordability and Reliability” he said.

4 June 2021
BREAKING: FG Suspends Twitter’s Operations In Nigeria

The Federal Government has suspended, indefinitely, the operations of the microblogging and social networking service, Twitter, in Nigeria.

The Minister of Information and Culture, Alhaji Lai Mohammed, announced the suspension in a statement issued in Abuja on Friday, by Segun Adeyemi, the Special Assistant To The President (Media), Office of the Minister of Information and Culture.

The FG claims the suspension was due to “the persistent use of the platform for activities that are capable of undermining Nigeria’s corporate existence.”

The Minister said the Federal Government has also directed the National Broadcasting Commission (NBC) to immediately commence the process of licensing all OTT and social media operations in Nigeria.

4 June 2021
BDC Operators Move To Crash Exchange Rate, Ban Street Hawking of Dollars

Forex traders under the aegis of the Association of Bureau De Change Operators of Nigeria (ABCON) have said they will start what it called ‘Operation No Street Trading’ to stop the hawking of foreign exchange by BDC operators.

This is part of the measures aimed at bringing down the exchange rate which has been on the rise recently especially after the adoption of the NAFEX rate as the new official rate by the Central Bank of Nigeria.

This disclosure was made by the President of ABCON, Alhaji Aminu Gwadabe, who said that this was part of the resolutions made unanimously by BDC directors at the meeting of the operators on Tuesday, June 2, 2021, in Lagos.

ABCON, in the resolution, told BDCs to improve on their return rendition to regulatory authorities, warning that defaulting members would be punished.

The resolution from ABCON partly reads, “All operators are to collaborate in bringing down the forex rates in the market; street trading by BDC should be discouraged/banned and ABCON will commence operation ‘no street trading’.

BDCs should improve return rendition to regulatory authorities; margin review to meet operational requirements; widening the scope of transactions; digitalisation of BDC operations.

ABCON to punish errant members; ABCON compliance officer and staff to commence nationwide supervision of BDC operations.”

Despite the sales of forex at N393 to a dollar to BDCs by the CBN, the exchange rate has been on the rise since the adoption of the NAFEX rate as the official rate by the CBN with the dollar selling for N499 on Thursday afternoon.

ABCON had in a statement on Sunday, advised foreign exchange users and the general public to patronise only BDC operators licensed by the CBN in order to get dollars at the approved rate.

Gwadabe said the parallel market activities had for years become major drivers of the exchange rates, adding that control over such transactions had become burdensome.

He said forex speculators were capitalising on the state of the forex market and the naira to sell dollars above the CBN-approved margin.

ABCON had some days ago, said that foreign exchange speculators are set to lose over N100 billion in the next one month as the CBN sustains massive funding for Bureau De Change (BDC) operators.

The ABCON President called for the return of normalcy of the market as the ongoing speculative behaviour was hampering the market operations.

The ABCON boss linked the continued fall of the naira at the parallel market and Investors’ and Exporters’ (I&E) Forex window to currency speculators who are hoarding dollars to profit from the currency crisis.

He said the perpetrators are creating an artificial scarcity of the greenback within the market to cause more woes for the local currency.

4 June 2021
Sanwo-Olu Lauds Elumelu As Heirs Holdings Launches Two Insurance Firms

By Adejuwon Osunnuyi

The Lagos State Governor, Babajide Sanwo-Olu, and the Commissioner for Insurance, Mr Sunday Thomas, inaugurated on Tuesday Heirs Holdings’ new insurance businesses – Heirs Insurance and Heirs Life Assurance.

Heirs Towers, a seven-storey headquarters of Heirs Holdings developed by Afriland Properties Plc, one of the investment companies of Heirs Holdings, was also unveiled at the inauguration ceremony.

Sanwo-Olu commended the pan-African investment company for its bold vision to democratise access to insurance.

The Chairman, Heirs Holdings, Tony Elumelu, introduced Dr Adaobi Nwakuche as the Managing Director/Chief Executive Officer of Heirs Insurance Limited, and Mr Niyi Onifade as the MD/CEO of Heirs Life Assurance Limited.

Heirs Insurance and Heirs Life Assurance have a paid-up share capital of N10bn and N8bn respectively, and are backed by leading reinsurers, providing a second layer of security for clients’ insurance portfolios, according to Elumelu.

Sanwo-Olu said, “Heirs Insurance and Heirs Life are bringing insurance that is simple, accessible, and affordable – three strong words that businesses of today need to thrive in highly saturated markets.

“I am aware that both Heirs Life and Heirs Insurance are two of the most liquid and well-capitalised insurance companies in the country right now.”

He said the timing of the launch could not have been more auspicious, adding, “The insurance commission is currently rolling out different initiatives for national development.

“To Heirs Insurance and Heirs Life, I want to say thank you for coming into our industry, making a difference, impacting the economy, and helping us to deepen the insurance sector in Nigeria.”

2 June 2021
Ministry of Environment Lauds Nigerian Breweries Over 663.6kWp Solar Power Plant

The Federal Government through the Ministry of Environment has commended Nigerian Breweries Plc following the successful launch of a world class 663.6 kWp Solar Power Plant for its Ibadan brewery operation which is aimed at ensuring a greener, cleaner and more sustainable environment in Oyo State and Nigeria.

The Minister of Environment, Mr. Muhammad Mahmood who was represented by the Director General, Forestry Research Institute of Nigeria, Prof.Adeshola Adepoju gave the commendation in a goodwill message at the formal commissioning ceremony of the Solar Power Plant held on May 20.

Mahmood described the initative as an important milestone in tackling the challenges of climate change and environmental sustainability in the country.

“This admirable initiative will significantly contribute to effectively tackling climate change, while enhancing energy security. It will also help in creating jobs, reducing industrial carbon footprint, transiting to a low carbon resilient economy as well as making our economies more resilient to future energy crisis. It will also ensure a balance between development, economic, social and environmental sustainability for present and future generations”, he added.

Speaking earlier at the official commissioning, Executive Governor of Oyo State, Engineer Oluseyi Makinde commended the management of Nigerian Breweries Plc for investing in a solar plant that would promote environmental sustainability, stating that his administration would continue to play its part by supporting businesses domiciled in the state to grow.

“This is another first in Oyo State. When history will be written on how NB Plc shifted from electricity to renewable energy, it would be said that Ibadan Plant was the first and as a government, we are very proud to be part of this story”, he added.

In her own remarks, the Minister of State for Environment, Mrs. Sharon Ikeazor equally applauded the company on the groundbreaking project describing it as a significant landmark for renewable energy access/utilization for manufacturing businesses in Nigeria.

Ikeazor noted that it was heartwarming to note that the company is already taking ambitious steps to transition a greater percentage of its electricity usage to renewable energy, stating that not only would such action save the planet but it would also help to create employment opportunities for the youth.

“All hands must be on deck to accelerate action that would reduce carbon emission and protect the environment. Today, NB Plc is taking a very bold and ambitious step in the right direction with this Solar Power commissioning and the overall plan to transition 70% of electricity use in its brewery production to renewable energy. This is a win-win plan as it not only supports climate change mitigation through reduced carbon emission but it would also help the company save money in the long run. This is in addition to the new jobs and opportunities this creates for our teeming youth in Nigeria”, she added.

She stated that the FG would continue to take required steps to ensure that a business-led climate intervention such as that of Nigerian Breweries is showcased as shining example for others to follow.

She urged the company to continue on this path by ensuring that it is replicated in other regions where its plants are located.

Delivering his welcome remarks, the Chairman of Nigerian Breweries Plc, Chief (Dr) Kolawole Jamodu (CFR) extolled the governor for his efforts in positioning the state as an investment destination and creating a conducive environment for constructing the 663.6kwp Solar Power Plant. He expressed his delight at the project completion, describing it as a demonstration of NB’s commitment to environmental sustainability.

Delivering his keynote speech, the Managing Director, Nigerian Breweries Plc, Mr. Jordi Borrut Bel described the project as a first of its kind in the manufacturing sector as Nigerian Breweries is the first brewer in Nigeria to commission a solar power plant providing renewable, clean energy for manufacturing.

Bel disclosed that in addition to this solar plant in Ibadan, the company is already developing other renewable energy plants in its other breweries to ensure that 70% of electricity used in all of its breweries are powered from clean sources.

“We are not only interested in being Number 1 in Sales and profitability. We also want to be number 1 in environmental sustainability – ensuring that the communities where our breweries are located benefit from our operations in the best possible way” he said.

“Apart from developing renewable energies to ensure cleaner air, we are also investing heavily in ensuring cleaner water for our communities. As such, we have taken great pains to build a state of the art, waste water treatment plant in our breweries to ensure that we do not cause water pollution. All wastewater produced from the brewery are properly treated and monitored in line with regulatory requirements before they are discharged, making them safe and not harmful to aquatic life and the environment in general”, he added.

He disclosed that the plant which was built at the cost of over N300 million, is part of NB Plc’s Brew A Better World sustainability agenda, which is aimed at meeting the company’s carbon neutrality targets through increased energy efficiency in its production.

He further revealed that the solar plant was built through a fully financed solar Power Purchase Agreement (PPA) executed with Crossboundary Energy Limited.

It is expected to supply approximately 800 MWh to the brewery annually, providing a significant reduction to the current cost of power, while also reducing the plant’s CO2 emissions by over 10,000 tonnes over the lifespan of the plant.

1 June 2021
It’s Automatic, Subscribers NOT Required To Submit IMEI— NCC

The Nigerian Communications Commission (NCC) has clarified reports that mobile subscribers will be required to submit the international mobile equipment identity (IMEI) of their phones to it from July 2021.

The IMEI is an identity number used to uniquely identify a mobile phone. The 15-digit IMEI number is an electronic fingerprint transmitted every time a phone is used, which reveals the identity of the mobile handset.

Earlier reports had said the directive is to be implemented within three months, as contained in the revised national identity policy for SIM card registration which was released on May 11, 2021.

In December, the NCC had directed Nigerians to get a national identity number and submit to their network operators.

It recently extended the national identification number (NIN) and subscriber identity module (SIM) integration exercise till June 30.

Reacting to the reports, Ikechukwu Adinde, NCC’s director of public affairs, said at no time did the commission issue a statement regarding the registration of IMEI by subscribers and it has no plans to do so.

“The reports in question have emanated from a section of the Revised National Identity Policy for SIM Card Registration recently launched by President Muhammadu Buhari and which has been uploaded on the Commission’s website,” the statement read

“It is pertinent to state that the Commission is in the process of deploying a Device Management System (DMS). The DMS will essentially protect subscribers against phone theft and will identify and enable the elimination of fake devices from the networks. The system will capture IMEI automatically without any requirement for subscribers to submit same.”

Adinde advised the general public to disregard the publications which have created the impression that telephone subscribers will be required to register their IMEI with their networks.

22 May 2021
Nigerian Breweries Inaugurates 663.6 Kwp Solar Plant In Ibadan Brewery, Redefines Sustainability In Manufacturing

Nigeria’s foremost brewer, Nigerian Breweries Plc has delivered another first in the manufacturing sector of the Nigerian economy by pioneering solar powered manufacturing with the commissioning of a Solar Plant at the Ibadan Brewery.

The 663.6 kilowatts per peak (kWp) solar plant was formally commissioned on Thursday, May 20,2021 by the Executive Governor of Oyo State, Engineer Oluseyi Makinde.

Speaking during the official commissioning ceremony, Governor Makinde commended the management of Nigerian Breweries Plc for investing in a solar plant which he noted would promote environmental sustainability, stating that his administration would continue to play its part by creating an environment that supports businesses in the state to grow.

Makinde also lauded the commitment of the company towards achieving its very ambitious target of switching to 70% renewable energy usage by 2030 stating that the completion of the Ibadan Solar Power Plant has clearly demonstrated its determination to reach the goal.

“This is another first in Oyo State. When history will be written how NB Plc shifted from electricity to renewable energy, it would be said that Ibadan Plant was the first and as a government ,we are very proud to be part of this story”, he added.

In his welcome remarks, the Chairman of Nigerian Breweries Plc, Chief (Dr) Kolawole Jamodu (CFR) extoled the governor for his efforts in positioning the state as an investment destination and creating a conducive environment for businesses to thrive which had encouraged the company to site the pilot of its solar power project in Ibadan.

L-R: Managing Director/CEO, Nigerian Breweries Plc, Mr. Jordi Borrut Bel; the Chairman, Nigerian Breweries Plc, Chief Dr. Kolawole Jamodu CFR; the Executive Governor of Oyo state, His Excellency, Engineer Oluseyi Makinde; Corporate Affairs Director, Nigerian Breweries Plc, Sade Morgan and the director general, Forest Institute of Nigeria Ibadan, Prof. Adeshola Adepoju at the official commissioning of the 663.6KWP Solar Power Plant of the Nigerian Breweries Plc, Ibadan Brewery held in Ibadan on Thursday.

Jamodu expressed his delight at the project completion, describing it as a demonstration of NB’s commitment to environmental sustainability.

Delivering his keynote speech, the Managing Director, Nigerian Breweries Plc, Mr. Jordi Borrut Bel described the project as a first of its kind in the manufacturing sector as Nigerian Breweries is the first brewer in Nigeria to commission a solar power plant providing renewable, clean energy for manufacturing.

Bel disclosed that in addition to this solar plant in Ibadan, the company is already developing other renewable energy plants in its other breweries to ensure that 70% of electricity used in all of its breweries are powered from clean sources.

“We are not only interested in being Number 1 in Sales and profitability. We also want to be number 1 in environmental sustainability – ensuring that the communities where our breweries are located benefit from our operations in the best possible way” he said.

Governor Makinde being conducted round the facility by NB officials

“Apart from developing renewable energies to ensure cleaner air, we are also investing heavily in ensuring cleaner water for our communities. As such, we have taken great pains to build a state of the art, waste water treatment plant in our breweries to ensure that we do not cause water pollution. All wastewater produced from the brewery are properly treated and monitored in line with regulatory requirements before they are discharged, making them safe and not harmful to acquatic life and the environment in general”, he added.

He disclosed that the plant which was built at the cost of over N300 million, is part of NB Plc’s Brew A Better World sustainability agenda, which is aimed at meeting the company’s carbon neutrality targets through increased energy efficiency in its production.

He further revealed that the solar plant was built through a fully financed solar Power Purchase Agreement (PPA) executed with Crossboundary Energy Limited. It is expected to supply approximately 800 MWh to the brewery annually, providing a significant reduction to the current cost of power, while also reducing the plant’s CO2 emissions by over 10,000 tonnes over the lifespan of the plant.

22 May 2021
Suspend June Electricity Tariff Hike, National Assembly Tells NERC

The House of Representatives has asked the Nigerian Electricity Regulatory Commission to suspend the plan to review electricity tariff in June.

It also condemned electricity distribution companies for transferring debts incurred by former occupants of building to the new occupants or tenants.

At the plenary on Thursday, the House adopted a motion moved by Aniekan Umanah titled: ‘Call on the Nigerian Electricity Regulatory Commission to Suspend the Proposed Increase in Electricity Tariff’.

Following the adoption of the motion, the House urged the Federal Government to direct NERC to “rescind the decision to further increase electricity tariff proposed for June 2021 in view of the hard times Nigerian masses are currently going through.”

The House further mandated its committees on Power, Poverty Alleviation, and Labour, Employment and Productivity to ensure compliance with the resolution.

Umanah, while moving the motion, noted that the Electric Power Sector Act of 2005 established the NERC with a mandate to license Discos, determine the operating codes and standards, establish customer rights and obligations and set cost-reflective industry tariffs.

The lawmaker also noted that the Act prescribed its funding from 15 per cent of electricity charges paid by customers to the Discos.

He recalled that the NERC, working with the Discos, had increased electricity tariffs five times since 2015, the latest being on January 1, 2021.

Umanah said, “The House is aware that despite those increases, Nigerians have not enjoyed significant improvement in power generation, instead they daily grapple with epileptic services from the Discos and unilateral exploitation in the name of estimated billing arising from non-metering of over 50 per cent of consumers.

“The House observes that poor services by the Discos have impacted negatively on the socio-economic growth of the country as the International Monetary Fund Report of 2020 on Nigeria indicated that the manufacturing sector lost over $200bn to inadequate power supply, while $21bn was said to have been spent by Nigerians on generators within the period under review.

“The House further observes that the Nigerian masses have gone through so much hardship in recent times arising from acts of terrorism, banditry, kidnappings, and farmers herdsmen’s crisis with its toll on agricultural activities, displacement from ancestral homes, loss of loved ones, starvation arising from inability to return to daily occupation and loss of personal properties running into several million of naira.”

The lawmaker added, “The House is concerned that at a time governments all over the world are adopting measures to cushion the devastating effects of the dreaded COVID-19 pandemic on their citizens by providing a wide range of palliatives to losses of loved ones, jobs, businesses and general distortion in the social life, NERC is tinkering with the idea of a further increase in electricity tariff after that of 1 January, 2021, in a country where two-thirds of the 200 million population is grappling with the crippling effects of the pandemic.”

The House also unanimously adopted a motion by Olatunji Shoyinka titled: ‘Need to Investigate Transferred Debts Incurred by Old Electricity Customers to New Users by Distribution Companies in Nigeria’.

The lawmakers consequently resolved to mandate the House Committee on Power to “engage the distribution companies and other relevant regulatory agencies to find a lasting solution and report within four weeks.”

21 May 2021
NLC To Take Decision On Govs’ N408/Litre Petrol Proposal Today As Experts Warn FG

The Nigeria Labour Congress (NLC) will today (Friday) come up with its position on the recommendation by governors that the price of Premium Motor Spirit, popularly called petrol, be raised from N162/litre to N408.5/litre.

A committee set up by the Nigeria Governor’s Forum had on Wednesday called for immediate removal of petrol subsidy. It recommended a petrol price of between and N380/litre and N408.5/litre.

However, the Abuja Chamber of Commerce and Industry and the Lagos Chamber of Commerce and Industry on Thursday advised the Federal Government to be tactful when removing petrol subsidy. They recommended that it be done gradually.

Also, officials of the Nigerian National Petroleum Corporation told our correspondent that the oil firm was awaiting the Federal Government’s position on the recommendation of the governors before it would adjust petrol price.

NNPC has been the sole importer of petrol into Nigeria for more than three years running.

When contacted by our correspondent on Thursday for the position of the NLC on the latest recommendation of the governors as touching petrol price, the Deputy President, Joe Ajaero, replied, “Congress will come up with a position latest tomorrow (Friday).”

Officials of both the NLC and the Nigeria Union of Petroleum and Natural Gas workers in separate exclusive interviews had last week argued that the continued imports of petrol by the NNPC was at the detriment of Nigeria’s refineries.

They also insisted that the government should fix Nigeria’s refineries and stop importing petrol to help halt subsidy and save funds for the country, as they opposed subsidy removal now.

Commenting on the matter, the President, ACCI, Dr Al-Mujtaba Abubakar, said in an interview that it would be painful to raise petrol price to N408/litre this time and called for gradual increment.

He said, “The subsidy removal can be staggered. They (government) can stagger it by either removing about 25 per cent in the first three months, another 25 per cent next, and so on. They can stagger it.

“But as they remove the subsidy people will also want to see the benefits coming.”

Abubakar said the ACCI was in support of subsidy removal, but stressed that the amount saved must be properly channeled into infrastructure development.

On his part, the Director-General, LCCI, Dr. Muda Yusuf, explained that the inevitability of the deregulation of the petroleum downstream sector had not been in doubt.

He said given the huge financing gaps that existed at all levels of government, it was impossible to continue to sustain the subsidy regime, adding that the opportunity cost of petrol subsidy was huge.

Yusuf said, “But the transitioning process from a subsidy regime to a deregulated policy space calls for a strategy that is inclusive and socially sensitive.

“It is a tricky situation that demands tactful handling. It has profound social dimension. There is a strong economic argument, there is significant investment effect and there is a potential substantial political cost.”

The LCCI DG, however, noted that the bigger conversation should be around what should be done to mitigate the short term adverse social effect on the vulnerable segments of the society.

The Group General Manager, Group Public Affairs Division, NNPC, Kennie Obateru, told our correspondent that the oil firm would await the Federal Government’s position on the governors’ recommendation before changing petrol price.

He said, “We really cannot take a position on that now because we don’t want to pre-empt whatever government is going to decide and it is whatever the Federal Government decides that will come to play.

Obateru said the corporation was aware of the recommendation by the governors and admitted that petrol subsidy had truly been a burden on NNPC.

21 May 2021
Buhari Directs Nigerians To Submit Phone ID in Three Months, Says NCC

The Nigerian Communications Commission has said Nigerians will have to submit the International Mobile Equipment Identity of their phones to it from July.

The regulatory body said this in the commission’s Revised National Identity Policy for SIM Card Registration.

The NCC’s move to start the implementation of the Device Management System (a Centralised Equipment Identity Register) is backed by President Muhammadu Buhari.

A portion of the policy said, “Accordingly, His Excellency, President Muhammadu Buhari, GCFR, has directed that the Device Management System should be implemented within three months.”

The NCC said, “With the aim to curtail the counterfeit mobile phone market, discourage mobile phone theft, enhance National Security, protect consumer interest, increase revenue generation for the government, reduce the rate of kidnapping, mitigate the use of stolen phones for crime, and facilitate blocking or tracing of stolen mobile phones and other smart devices, one of the means to achieve this is through the deployment of Device Management System.

“The implementation of a Centralised Equipment Identity Register otherwise known as Device Management System will serve as a repository for keeping records of all registered mobile phones’ International Mobile Equipment Identity and owners of such devices.

“IMEIs that have been reported as either stolen or illegal will be shared through the DMS to all the operators and service providers.”

The IMEI number is the mobile phone’s fingerprint. It is a 15-digit number unique to each phone. With the IMEI number, a phone can be tracked and located irrespective of the cellular number in it.

According to an expert that helps the Nigerian Police track stolen phones, who asked for anonymity, said, “The IMEI of a phone allows us to track the phone.

“It allows us to track the phone’s information, people the phone calls each day and the house address of the people that call on the phone.”

The expert added, “I can’t disclose how the IMEI of a phone works. It is sensitive information. Leaking the secret helps the people stealing the phone bypass the information.

“Some people already try to change the IMEI of stolen phones, but we know what to do to get the original one.”

With this move, the NCC will have the IMEI numbers, NIN, and mobile numbers of every Nigerian.

21 May 2021