Teleology Holdings Finally acquired 9mobile as NCC approves deal.

…9mobile will issue a statement in due course- Spokesperson The Nigerian Communications Commission (NCC) and Central Bank of Nigeria (CBN), on Wednesday, approved the sale of 9mobile – the third largest mobile network operator in Nigeria to Teleology Holdings Limited. A source close to NCC exclusively informed The Daily Times that the sale of the third largest telecoms to Teleology was approved at cost of $500 million This puts to rest one year of back and forth struggle, process of selecting a preferred bidder amidst a media war that raged…

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Manufacturing, key to economic growth, development- Dangote

Executive Director of the Dangote Group, Hajiya Halima Aliko-Dangote, has urged millennials in Nigeria and across Africa to diversify from service-oriented enterprises to manufacturing and agriculture in a bid to fast-track the development of the continent and better life for its nationals. According to Halima Dangote, the economic realities around the world have shown that the way to go is agriculture and that the youths must take the lead more when most African countries are still grappling with low economic growth. Speaking at the 58th Annual Conference of the Nigerian…

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Revenue template for NNPC ready, FAAC shares N714.8bn to FG, States, LGAs

The Nigerian National Petroleum Corporation (NNPC) revenue temple authorised as panacea to resolving federation revenue skirmish will be ready at the next Federation Account Allocation Committee (FAAC) meeting. The development came just as the three tiers of government comprising Federal Government, states and 774 local councils on Thursday night shared total revenue of N 714.809 billion as allocation for the month of July against N821 billion shared in June. The shared sum included statutory revenue, Value Added Tax (VAT), forex equalisation and additional revenue from Nigerian National Petroleum Corporation (NNPC).…

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MTN Nigeria challanges CBN on illegal repatriation of $8.1 billion

MTN Nigeria on Thursday refuted the claims by the Central Bank of Nigeria that it illegally, in collusion with four Nigerian banks repatriated $8.1billion from its Nigerian operations to offshore investors. The CBN said the remittances between 2007 and 2015, in tranches of of 2.63 billion dollars, 1.766 billion dollars and 348 million dollars were done in flagrant violation of the rule that says it can only be done with regular ‘Certificates of Capital Importation (CCIs)’ issued by the apex bank. The CBN said MTN did the repatriation after illegally…

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