Business
NCC to Strengthen AOL Administration
…Set to deploy Revenue Assurance Solutions
AJAGBE ADEYEMI TESLIM
Sponsored by: H&H
This subject matter was the focus of an industry stakeholder consultative engagement organized by the Commission at its Head Office in Abuja on Friday, February 25, 2022, which is in congruence with the NCC’s renowned commitment to inclusive participation and consultative stakeholder engagement as part of its regulatory practice.
The RAS application is designed to ensure a linkage with licensed telecommunications operators’ systems and will have the capability of capturing and reporting in near real-time, billing activities by the operators for the purposes, amongst others, of computing and assuring with minimal margin of error, the accruable AOL to NCC from the licensees.
When deployed, the NCC RAS will bring significant solutions to the industry’s challenges, including a more effective and enhanced monitoring and regulation of the licensed telecommunications operators.
Speaking at the event, which was well attended by representatives of Mobile Network Operators (MNOs), Licensees of the Value Added Service chain, officials of the Commission and other industry stakeholders, the Executive Vice Chairman and Chief Executive Officer (EVC/CEO) of NCC, Prof. Umar Garba Danbatta, said AOL remains the bedrock of an efficient and effective telecommunications regulatory environment.
Danbatta said the event was organized to sensitize industry stakeholders through a conversation on the Commission’s plan to deploy RAS that will instill greater transparency and increased accuracy in the administration of AOL in the sector, as stipulated by the Nigerian Communications Act (NCA), 2003.
According to the EVC, since the NCA 2003 came into force and pursuant to Section 72 of the Act, various efforts have been made by the Commission towards achieving an effective AOL administration, including the development of AOL Regulations 2014, which is being reviewed.
He said the Commission believes that the deployment of appropriate RAS would enhance monitoring and regulatory activities around AOL administration and confer higher levels of integrity and fidelity on the AOL figures obtainable in the industry.
In a contextual recall, Danbatta stated that the need to deploy the most appropriate Revenue Assurance Systems in the Nigerian telecommunications industry began since 2015 when Commission published an invitation to bid for the services, in which 3R Company Nigeria Limited emerged the preferred bidder. The EVC informed that during the bid process, the Bureau of Public Procurement (BPP), indicated a ‘no objection’ to the process.
“However, it was reasoned thereafter, that due to the scope of the project, the solution would be more appropriately procured under a Public Private Partnership (PPP) arrangement. This led to the invitation of the Infrastructure Concession Regulatory Commission (ICRC) to guide the process, as mandated by its regulations. Following this, the Commission set up a Project Delivery Team (PDT), which worked with a consortium of legal advisers, financial modelers and PPP experts under the guidance of ICRC, and took the appropriate steps required under the ICRC Regulations 2005,” he said.
He said part of the process included a proper due diligence of the preferred partner, which received a clean bill of health from the Office of the National Security Adviser (ONSA) while the Commission also subjected the software and hardware components of the proposed RAS to the certification of the National Information Technology Development Agency (NITDA).
The EVC stated further that the Commission recorded a major feat in December 17, 2021, as the transaction received the Certificate of Compliance from the ICRC in line with the Provisions of the ICRC Act 2005. “Thus, the Honourable Minister of Communications and Digital Economy, Prof. Isa Ali Ibrahim (Pantami) graciously presented the NCC RAS project to the Federal Executive Council (FEC) Meeting on January 26, 2022, where the final approval was given for the implementation of the solution,” he said.
Underscoring the EVC’s position, the Head, Special Duties, Reuben Muoka, stated that the industry has been waiting for the RAS from the Commission. He also signaled that this current regulatory intervention will bring about a multiplier effect on the economy, local content and several other sectors in the Nigerian economy.
Speaking in the same vein, Deputy Director, Technical Standards and Network Integrity, NCC, Edoyemi Ogoh, stated that the approval of the RAS project by the FEC is a major success in finding a transparent process for an independent assessment, validation and completeness of the Annual Operating Levy (AOL).
Ogoh said the solution has the capability to limit the loss of revenue due to faulty billings, inaccurate or incomplete data and information from service providers, redundantly provided services and frauds. “It will enable the resolution of inconsistencies in billings for services provided by licensed service providers to their subscribers as well as AOL bills from NCC to service providers, resulting in optimum efficiency and accuracy. The RAS would enable the Commission to validate the information, records and data that are supplied to the Commission by the licensees,” Ogoh emphasised.
Business
Access Bank to Host Pioneering Africa Trade Conference in Cape Town
Access Bank to Host Pioneering Africa Trade Conference in Cape Town
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
Access Bank PLC is set to host its first-ever Africa Trade Conference (ATC), a landmark event focused on advancing Africa’s economic transformation under the theme, ‘Empowering Africa Through Trade, Innovation, and Sustainable Growth’. Scheduled for March 12, 2025, in Cape Town, South Africa, the conference is poised to bring together the most influential voices in trade, finance, and policy to address the future of commerce across the continent.
With Africa’s trade finance gap estimated at $81 billion annually, the conference aims to tackle the systemic challenges hindering trade, particularly for SMEs and domestic firms. By fostering collaboration among key stakeholders, the Conference will explore innovative solutions, sustainable trade practices, and strategies for expanding African economies into global value chains.
Roosevelt Ogbonna, Group Managing Director/Chief Executive Officer, Access Bank PLC, emphasised the importance of the Africa Trade Conference, in addressing these pressing issues. “The Africa Trade Conference represents a crucial step in redefining Africa’s trade potential. By creating platforms for dialogue, innovation, and actionable solutions, Access Bank is enabling African businesses to connect and thrive in the global economy.”
Access Bank’s presence across 24 countries globally, including 16 in Africa, provides a unique advantage in facilitating inter- and intra-African trade. The Bank’s growing network positions it as a key player in addressing trade complexities and promoting inclusive growth across the continent.
Seyi Kumapayi, Executive Director, African Subsidiaries, Access Bank, highlighted the broader vision of the forum, saying, “The Africa Trade Conference is a platform to not only address Africa’s trade challenges, but to champion the continent’s opportunities. Through strategic partnerships, tailored financial solutions, built on the ethos of sustainability, we are paving the way for Africa’s businesses to take their place on the global stage.”
This flagship event will convene a distinguished line-up of seasoned speakers, and top executives from leading international banks, Development Finance Institutions (DFIs), and captains of industry in Africa.
The ATC will also shine a spotlight on the transformative potential of the Africa Continental Free Trade Area (AfCFTA), which aims to reduce trade barriers, enhance infrastructure, and integrate African economies into global trade networks.
Furthermore, the event will explore critical themes shaping the continent’s economic future, including the transformative role of digitisation and innovation in global trade, solutions for overcoming trade barriers to enhance market access, as well as sustainable trade practices and innovative financing models, thereby providing a comprehensive roadmap for advancing Africa’s position in global commerce. Please visit https://africatradeconference.accessbankplc.com/ for more information.
Business
Union Bank Rewards 360 Customers with N21 Million in First Save and Win Palli Promo 4 Draw
Union Bank Rewards 360 Customers with N21 Million in First Save and Win Palli Promo 4 Draw
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
Union Bank, Nigeria’s leading financial institution, has kicked off its Save and Win Palli Promo 4campaign on a high note following the announcement of its first set of winners in its inaugural monthly draws.
The first live draw of this season, which took place at the Bank’s Head Office in Marina, Lagos, rewarded 60 customers with ₦100,000 each. Additionally, 300 other winners went home with ₦50,000 worth of gift vouchers during the inaugural live draw, which was conducted transparently and digitally under the supervision of relevant regulatory bodies. The winners cut across the nation.
Speaking at the first monthly draw, Gloria Omereonye, Union Bank’s Area Business Executive for Lagos Island 1, stated, “Union Bank is always dedicated to rewarding customers for their loyalty and financial discipline.
We are pleased that our promo has continued to achieve its noble goals of providing succour to our customers through our gifts and rewards, especially in these economically trying times, while facilitating a sustainable savings culture for future goals and objectives.”
Save & Win Palli Promo is a nationwide campaign designed to reward both new and existing customers with cash prizes. Season 4, which began in December 2024 and runs until May 2025, offers customers the opportunity to win ₦131 million in cash prizes, Motorcycles, Tricycles, Fuel Vouchers, and a star prize of ₦5 million, which will be handed out to three lucky winners at the grand finale.
Open to new and existing customers, the Save and Win Palli Promo requires participants to save a minimum of ₦10,000 and perform a minimum of five transactions monthly to qualify for draws. Monthly winners can receive ₦100,000, while quarterly draws will reward lucky savers with Motorcycles, Tricycles, and other exciting prizes.
Customers who save in multiples of ₦10,000 will increase their chances of winning.
New customers can join the promo by downloading the UnionMobile app to open an account or visiting any Union Bank branch.
Existing customers can reactivate accounts by calling the 24-hour Contact Centre at 07007007000 or visiting a branch.
Business
Access Bank Clinches THISDAY’s ‘Global Bank of the Year’ Award, Aig-Imoukhuede is Named ‘Titan of the Year’
Access Bank Clinches THISDAY’s ‘Global Bank of the Year’ Award, Aig-Imoukhuede is Named ‘Titan of the Year’
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
Access Bank PLC (‘the Bank’), the flagship subsidiary of Access Holdings PLC (‘the Company’), has been honoured with the prestigious THISDAY Global Bank of the Year award for 2024, recognising its significant impact on the global banking landscape.
R-L: Roosevelt Ogbonna, Group Managing Director, Access Bank PLC; Tochi Wigwe, Daughter of Herbert Wigwe, former Group CEO, Access Holdings; Maame Saarah Buckman; Aigboje Aig-Imoukhuede, Chairman, Access Holdings PLC; Aigbovbioise Aig-Imoukhuede, Managing Director, Coronation Asset Management Limited, and Funke Aigbovbioise Aig-Imoukhuede, at the THISDAY Awards 2025 where Access Bank won Global Bank of the Year award and Aig-Imoukhuede was named Titan of the Year, in Lagos… Monday night
In addition, Aigboje Aig-Imoukhuede, Chairman of Access Holdings, received the distinguished THISDAY Titan of the Year award for his exceptional contributions to the banking sector in 2024.
At THISDAY Awards 2025, Access Bank emerged victorious, surpassing African Export-Import (AFREXIM) Bank and United Bank for Africa (UBA) to claim the coveted title. The prestigious award ceremony, held at Eko Hotels & Suites in Victoria Island, Lagos, marked the 30th anniversary of THISDAY Newspapers and the 12th anniversary of Arise News Channel, with the theme, “When the Going Gets Tough… The Tough Get Rewarded.”
THISDAY Newspapers highlighted Access Bank’s nomination, praising its strategic leadership, rapid expansion, and unwavering commitment to innovation and sustainability. The bank’s leadership in digital banking was also recognised, with Access Bank receiving multiple accolades, including the 2024 Digital Jurist Award for Best Digital Bank.
In addition to its achievements in digital banking, Access Bank has demonstrated a strong commitment to environmental, social, and governance (ESG) principles, earning the 2024 Euromoney Award for Best Bank for ESG in Nigeria and Ghana.
With an expanding international presence in the United Kingdom, Ghana, United Arabs Emirates, China, and several African nations, Access Bank continues to solidify its position as a major global banking player.
Lagos State Governor, Babajide Sanwo-Olu (left) and Aigboje Aig-Imoukhuede, Chairman, Access Holdings PLC, exchanging pleasantries at the THISDAY Awards 2025 where Access Bank won Global Bank of the Year award and Aig-Imoukhuede was named Titan of the Year, in Lagos… Monday night
The bank’s innovative approach is further evidenced by its cutting-edge technological initiatives, including Facepay, Access Closa, the AccessMore mobile app, and Africa Fintech Foundry—further establishing Access Bank as a leader in technological advancements, and underscoring its deserving recognition as Global Bank of the Year.
During his acceptance speech, Access Bank’s Managing Director and CEO, Roosevelt Ogbonna, expressed his gratitude to the public, THISDAY Newspapers, and Arise Media Group for the recognition. He remarked, “This award represents 30 years of hard work of doing things differently, and of building on the legacy of industry giants like Aigboje Aig-Imoukhuede and Herbert Wigwe. We are deeply grateful to our board, management, customers, and stakeholders, who have continuously supported us. This award is for you, and we accept it in your honour.”
In a similar vein, Aigboje Aig-Imoukhuede, along with 11 other influential leaders, was recognised with the THISDAY Titan of the Year award for 2024. Reflecting on his journey, Aig-Imoukhuede shared, “In 1991, Prince Obaigbena and I first met as customer and banker. He told me that anyone fortunate enough to manage his account would one day become a managing director of a bank, and I am thankful that God fulfilled that vision. It is an incredible honour to stand with such esteemed colleagues.”
The star-studded event, which brought together dignitaries from both the private and public sectors, celebrated excellence, innovation, and leadership across industries and the political landscape.
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