News

JUST IN: NCC Suspends Issuance Of Virtual Operators Licence, Two Others

Published

2 years ago

May 17, 2024

Editor

The Nigerian Communication Commission has announced a temporary suspension of new licence issuance to operators in three categories.

The categories are Mobile Virtual Network Operator Licence, Interconnect Exchange Licence and Value Added Service Aggregator Licence.

A virtual operator is a company that does not own a mobile spectrum licence but sells mobile services under its brand name using the network of a licensed mobile operator. Currently, there are at least 25 operators.

The Interconnect Exchange Licence is a network facility that enables the interconnection of more than two independent connecting entities to facilitate the transfer of electronic communications.

While VAS aggregators are non‐core network telecommunication services which are beyond standard voice calls.

These services include internet, directory service, paging service, voice mail and prepaid calling card service, call centre services, content services, and vehicle tracking.

The NCC said the suspension is in line with its powers under the Nigerian Communications Act 2003 to grant, renew licenses and promote fair competition.

The commission, in a public notice posted on its X handle on Friday, said the temporary suspension is to enable a thorough review of several key areas of market saturation, competition level and current market dynamics.

The notice titled, “Temporary Suspension Of The Issuance Of Communications Licences In Three Categories” was signed by the Director, Public Affairs Department, Nigerian Communications Commission, Reuben Muoka.

The notice read, “In line with its powers under the Nigerian Communications Act 2003 to grant and renew licenses, promote fair competition and develop the Communications Industry, the Nigerian Communications Commission (The Commissions) hereby informs all stakeholders of a temporary suspension on issuance of new licenses in the following categories, Interconnect Exchange License, Mobile Virtual Network Operator License and Value Added Service Aggregator License.

“This temporary suspension is necessary to enable the commission to conduct a thorough review of several key areas within these categories, including the current level of competition, market saturation and current market dynamics.”

It, however, noted that the new directive doesn’t affect pending applications which would be considered based on merit.

“The public is invited to note that during the suspension period commencing on 17th of May, 2024, new applications for the aforementioned licenses will not be accepted. This is without prejudice to pending applications before the Commission which will be considered on its merits.

“Any enquiries of clarification in respect of this Suspension Notice should be forwarded to: licensing@ncc.gov.ng,” the statement read.

In recent times, the telecommunications sector has been faced with a myriad of issues raising concerns about sustainability and efficient service delivery amid ongoing economic challenges.

Record high inflation has reduced purchasing power and a currency devaluation has cut margins.

These challenges are exacerbated by the issue of multiple taxation and regulations and prohibitive right-of-way charges, inadequate electric power supply, and vandalism of telecommunications infrastructure.

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

5 hours ago

May 6, 2026

Editor

Lazio midfielder, Fisayo Dele-Bashiru is a subject of interest from three Premier League clubs, according to Sky Sports.

Lazio reportedly rejected offers from Nottingham Forest and Bournemouth for the Nigeria international in January.

La Biancolesti are bracing for more interest in Dele-Bashiru ahead of the summer transfer window, according to Sky Sports.

The 24-year-old has two years left on his contract with the Serie A club.

The attacking midfielder joined the Rome-based club from Turkish Super Lig outfit Hatayspor in 2024.

He has been a regular feature for Lazio this season.

News

Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses

Published

6 hours ago

May 6, 2026

Editor

The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.

DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.

A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.

“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.

“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.

“This contradiction will no longer be tolerated,” the statement said.

News

N5m, N10m Zero-interest Loans: SheVentures Opens Applications For Women Entrepreneurs

Published

8 hours ago

May 6, 2026

Editor

First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.

The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.

At the centre of the offering is a 0% interest rate, with all charges embedded in a transparent structure.

Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.

Yemisi Edun, Managing Director and Chief Executive of First City Monument Bank (FCMB), said the initiative reflects a deliberate approach to inclusive growth.

“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively.

“Women-led enterprises are critical to economic activity, yet they face structural barriers.

This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs.”

“Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB).

“By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions.”

Women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.

Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale.

Applications for the zero-interest loan are now open.Apply now.