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
AIGBOJE AIG-IMOUKHUEDE APPOINTED PRESIDENT OF FRANCE NIGERIA BUSINESS COUNCIL
AIGBOJE AIG-IMOUKHUEDE APPOINTED PRESIDENT OF FRANCE NIGERIA BUSINESS COUNCIL
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
At the esteemed Choose France Summit 2024, held on Monday, May 13, 2024, Aigboje Aig-Imoukhuede, the Chairman of Access Holdings PLC, was formally appointed as the President of the France Nigeria Business Council (FNBC) by the President of the French Republic, President Emmanuel Macron.
Aigboje Aig-Imoukhuede having a handshake and a tête-à-tête with President Macron at the Council’s meeting with the President, and Gilbert Chagoury looking on.
The France Nigeria Business Council (FNBC) stands as a pivotal coalition of Nigerian private sector business leaders, committed to enhancing bilateral relations between Nigeria and France. Its core objectives revolve around the facilitation of trade, investments, infrastructural development, job creation, and cultural integration between the two nations.
Since its establishment in June 2021 under the auspices of President Emmanuel Macron, the FNBC has diligently utilised its member network to champion investments across key business sectors, fostering cultural understanding and driving economic growth between Nigeria and France. Notably, it has catalysed Nigerian businesses’ ventures into investment opportunities within France.
Comprising 13 distinguished members, the Council boasts prominent figures including Aigboje Aig-Imoukhuede (President), Abdul Samad Rabiu, Gilbert Chagoury, Mike Adenuga, Aliko Dangote, Jim Ovia, Tony Elumelu, and John Coumantaros. Additionally, Kola Karim, Leo Stan Ekeh, Daisy Danjuma, Gbenga Agboola, and Jean Haas serve as integral members, with Jean Haas holding the position of Secretary.
Aig-Imoukhuede’s appointment follows the passing of Herbert Wigwe, the Council’s former President, in February 2024.
Aigboje Aig-Imoukhuede having a handshake and a tête-à-tête with President Macron at the Council’s meeting with the President, and Gilbert Chagoury looking on.
The Choose France Summit is an annual gathering that convenes business magnates, investors, and governmental dignitaries to explore investment prospects within France. The highlight of the Summit was the Presidential Dinner, characterised by high-level engagements and mutual commitments between participating parties.
Business
ACCESS BANK (SL) LTD STRENGTHENS LEADERSHIP TEAM WITH KEY BOARD APPOINTMENTS, NAMES NEW CHAIRMAN
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
Access Bank Sierra Leone Ltd (‘Access Bank (SL) Ltd’) has announced the appointment of new executives to its Board of Directors (‘the Board’), further strengthening its leadership team and advancing the implementation of its growth and transformation strategy.
These appointments also reflect the Bank’s commitment to fostering growth and development while maintaining the highest standards of governance and stewardship.
Joining the Board as Non-Executive Directors are Maurice Nathaniel Cole, Nsikak N. Usoro, Michala Mackay, Ibrahim Khalil Lamin, and Kolawole Augustine Ajimoko.
The appointees boast a wealth of expertise from diverse sectors, including banking, telecommunications, corporate governance, compliance, and finance. Their combined experience and vision will contribute to shaping the future trajectory of Access Bank (SL) Ltd.
Cole will serve as Chairman, following the exit of Alice Marie Onomake and will bring his experience to the fore as Access Bank (SL) Ltd works to consolidate its market position and deliver value for all its stakeholders.
“We are thrilled to welcome our new executives to Access Bank (SL) Ltd,” said Ganiyu Sanni, Country Managing Director, Access Bank Sierra Leone Ltd. “Their leadership and vision will be invaluable as we navigate through challenges and pursue sustained success. We extend our gratitude to outgoing Chairman, Alice Marie Onomake, and Non-Executive Director, Aminata B. Dumbuya, for their dedicated service and contributions to the Bank.”
Access Bank (SL) Ltd remains committed to excellence, transparency, and accountability as it embarks on this exciting new chapter. The Bank looks forward to leveraging the collective expertise of its leadership team to drive innovation, foster growth, and create lasting impact for its customers and communities.
Business
Access Holdings Vests 23.8 million Units of Shares on Senior Executives
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
In line with the disclosure requirements of the Securities and Exchange Commission and the Nigerian Exchange Limited, Access Holdings Plc , Africa’s leading financial services group, has announced the award of 23.8 million ordinary shares to some of its senior executives and executives of Access Bank, its flagship subsidiary.
This is in pursuant of the terms of its shareholders approved Employees Performance Share Plan.
Bolaji Agbede, the Acting Group Chief Executive Officer of Access Holdings, Roosevelt Ogbonna, the Managing Director/Chief Executive Officer of Access Bank, and six others were vested with 23,883,790 units of the Group’s shares, worth a combined N427.13 million.
This was disclosed via notices duly filed with the Nigerian Exchange Limited on Tuesday.
According to the filings, Ogbonna got the highest amount of shares totalling 12,345,679 units and worth N220.37 million, having been traded at N17.85 per share.
Agbede was vested with 2,216,992 units of shares, valued at N39.795 million.
Other directors, who had shares vested include Seyi Kumapayi, Executive Director, African Subsidiaries, Access Bank, with 1,234,568 worth N22.16 million; Iyabo Soji-Okusanya, Executive Director, Commercial and Investment Banking Division, Access Bank, with 1,691,308 at N17.95 per share.
Her vested shares are valued at N30.36 million, and Chizoma Okoli, Access Bank’s Deputy Managing Director, Retail South, who got 1,728,395 units valued at N30.85 million.
Dr Gregory Jobome, Executive Director, Risk Management, and Hadiza Ambursa, Executive Director, Commercial Banking, were each vested with 1,728,395 valued at N30.85 and N31.02m respectively.
Access Holdings’ Company Secretary, Sunday Ekwochi, was vested with 1,210,058 units of the Group’s shares worth N21.72m.
The shares were vested on May 3rd and May 6th.
The vesting of the shares is not a purchase or sale transaction in the context of the Exchange’s Rules.
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