CBN, NCC seek transparency in 9Mobile bidding process

-


The Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) have urged Baclays Africa to ensure transparency in 9mobile bidding process.

In a joint letter by the executive vice chairman of NCC, Prof. Umar Danbatta and CBN governor, Godwin Emefiele, to GTBank, the facility agent for the 9mobile syndicated loan, they questioned the transparency of Barclays bank, its financial adviser in the sale process of 9mobile.

It was learnt that the CBN is particularly concerned about how Barclays chose the final round of bidders, as more qualified and interested bidders were not shortlisted.

The two regulators had received petitions from bidders and stakeholders questioning the transparency of Barclays bank.

CBN and NCC stated in the letter that they had made it clear from the beginning that the bidding process for 9mobile must be “transparent and fair, with the financial and technical capabilities of the final bidders without question.” The regulators therefore have reason to question the criteria for selection if companies with strong financial standing and advanced technical capabilities were dropped from the final bidding process.

Comments

Post a Comment

Popular posts from this blog

Five Incredible Technology Trends for 2018

-
Image
Photo credits: Odd ANDERSEN / AFP You don't have to be a technology enthusiast, you will always look forward to the tech developments especially the tech trends that will make a difference in the future or New Year. Jumia Travel , the leading online travel agency, highlights 5 technology set to define 2018. Artificial Intelligence Artificial intelligence (AI) will be bigger this year. More and more organisations will embrace AI which is made possible through machine learning algorithms and will be incorporated in uncountable applications. 5 Generation Technology This year, developers and engineers are getting ready to make a new generation of internet possible. By the end of 2019, 5G networks and phones with 5G will be available. 5G internet has the potential to be almost 10 times faster than 4G, making it even better than most home internet services. Data overload In 2018, data collection is going to become an even higher priority as companies have seen the advantage of coll
Read more

Food: Four Popular Bukkas in Lagos

-
Image
Bukka meal Local resturants popularly unknown as "Bukka" is considered unsafe for few while some takes pleasure patronizing them. Maybe because it is affordable and offers quality local meals and it's easy to find one around. They are usually small or fairly sized rooms with wooden or plastic tables and chairs, with the cooking pots in view, in most cases. Eating out in bukkas is a very major part of Nigerian life, at least 70 percent of Nigerians have eaten in a bukka and a very good number visit frequently. Bukka food Bukka, which is also known as "Mama Put" is Nigeria’s version of street food. Food is a major part of tourism and  bukkas are a good way to experience the local and authentic food culture of Nigerians. Bukkas are on almost every corner of Lagos. Here is a list of four safe and popular ones in Lagos. Amala Shitta Location: 26 Rabiatu Thomson Crescent, Shitta, Surulere, Lagos. Amala Shitta has been named the best place to get amala i
Read more

Nigerian Oshi Agabi unveils the computer that can smell

-
Image
TEDGLOBAL Photo credits: GETTY IMAGES  Nigerian Oshi Agabi has unveiled a computer based not on silicon but on mice neurons at the TEDGlobal conference in Tanzania. The system has been trained to recognize the smell of explosives and could be used to replace traditional airport security, he said. Eventually the modem-sized device - dubbed Koniku Kore - could provide the brain for future robots. Experts said that making such systems mass-market was challenging. All of the big tech firms, from Google to Microsoft, are rushing to create artificial intelligence modelled on the human brain. While computers are better than humans at complex mathematical equations, there are many cognitive functions where the brain is much better: training a computer to recognise smells would require colossal amounts of computational power and energy, for example. Mr Agabi is attempting to reverse-engineer biology, which already accomplishes this function with a fraction of the power it would take a
Read more

Ghana connects to Nigeria’s Internet Exchange point

-
Image
Ghana Internet Exchange Point has connected to Nigerian’s Internet Exchange Point (IXPN) to route traffic locally within the region.While this process is on a vice-versa and partnership basis, The Guardian learnt that the move is expected to enhance the chances of Nigeria becoming the regional hub for Internet content in the region and the continent; it will also serve as an opportunity for both countries to reduce cost and improve latency on the route.   Further analysis showed that the Internet traffic destined for the two countries will now remain local, meaning that instead of the traffic coming from Ghana to Nigeria, which first goes to Europe or the Americas before returning to Africa, will come straight to the region.This way, there will be some cost saving, improvement service delivery, and making services safer.     Besides, should Nigeria become the Internet hub for Africa, it will help the country to create contents, especially local that can serve the international mark
Read more

Samsung Electronics' record-breaking earnings

-
Image
Image credit:AFP PHOTO / JUNG Yeon-Je South Korean tech giant Samsung Electronics posted record-breaking earnings Thursday, putting it on course to better rival Apple’s quarterly profits as it seeks to move past a bribery scandal and a damaging recall debacle. The firm said huge sales of its new Galaxy S8 smartphone and demand for its memory chips were behind the jump in April-June and predicted another blockbuster report for the current quarter to September. Operating profit soared a forecast-beating 72.9 percent from the previous year to 14.07 trillion won ($12.6 billion), compared with consensus forecasts of $10.6 billion for US titan Apple, which is due to report next week. However, Greg Roh, an analyst at HMC Investment Securities, told AFP: “Samsung has surpassed its rivals for now but Apple usually sees little fluctuation in its profits whereas Samsung’s profits fluctuate largely on memory chip prices.” Apple is expected to outstrip Samsung in full-year resul
Read more

Technology deranges Nigeria’s used-car market

-
Image
Technology is fast becoming a major influencer of the already thriving used-car market in Nigeria, hence disrupting the entire value chain of auto business in the country. Nigeria spends an estimated N1.2 trillion on importation of vehicles as recent statistics has shown. PriceWaterhouseCooper (PwC), Nigeria’s professional service firm in a recent report release mentioned that more than 70 per cent of these imported vehicles are used ones, also known as Tokunbo. This trend has created a thriving used-car market, spurred more by Nigeria’s new automotive policy – a development that saw car import tariff hiked by 35 per cent. Over the past five years, technology has proven handy in playing a vital role in the success of the used-car market. Specifically, technology has reared its head in creating online marketplaces, curating inventories of used-cars and connecting buyers with sellers. According to Lukmon Oloidi, who is a used-car dealer in Lagos., technology has made it easy for deal
Read more

The UK's first Holocaust Memorial planned for London

-
Image
Photo credits: Adjaye Associates Photo credits: Adjaye Associates A memorial honouring  millions who died at the hands of the Nazis during the Holocaust will be set in the Victoria Tower Gardens next to the Houses of Parliament in Westminster, it has been decided. The new landmark - expected to be completed by 2021 - aims to be “a living place, not just a monument to something of the past”, offering visitors an “immersive journey” and “sensory experience” throughout the site. Featuring a series of 23 imposing bronze fin structures, with the spaces between each symbolising the 22 countries where Jewish communities were destroyed during the Holocaust, the striking memorial will have a modern, minimalist feel. However, Visitors can expect different experiences along each pathway between the fins before the walks culminate at a cavernous main hall (known as the Threshold), intended to be a place for contemplation before moving into the adjoining Learning Centre in the leve
Read more

PoS summit comes to Lagos

-
Image
  On the verge to address the challenges associated with electronic payment system in the country, financial and technology experts have been scheduled to speak at the Point of Sales (PoS) Innovation Summit, being organised by one of the Central Bank of Nigeria licensed Payment Terminal Service Provider (PTSP), Global Accelerex Limited. The maiden innovation summit, which is billed to hold in Lagos on September 29th, is an intervention to address the gaps noticeable in the expectations of stakeholders and the reality of the PoS business sector of the Nigerian payments system. Notable leaders of thought and industry experts invited as resource persons at the summit include: Deputy Director, Banking and Payments System, CBN, Musa Jimoh; Chairman, Association of Mobile Money Operators, Sarafadeen Fasasi; the Managing Director, Artee Industries Limited (SPAR), Prakash Keswani; Managing Director, Global Accelerex, Tunde Ogungbade, and Dr. Doyin Salami from Lagos Business School, General M
Read more

This State Pays Residents $2,000 a Year

-
Image
Teddy Kelley Alaska has a number of incentive programs to entice people into becoming it's resident. So anybody who moves to Alaska with the mind-set to live there permanently can opt into the state’s annual Permanent Fund Dividend Division . With the revenue made from the state's oil, yearly checks are giving to permanent residents, both adults and children ever since 1982. In order to get a cut of the check , rules are fairly simple. Applicants must have been Alaskan residents for all of the previous year, not claimed residency in any other state, and not have been absent from Alaska for more than 180 days. Applicants also cannot have been sentenced or incarcerated from any felony convictions over the past year. Residents can use the money however they like — as long as they keep living in Alaska. Ranging  from $331 to $2.072 per person. So, what are you waiting for? Something good requires a great deal of decision making. This article originally appeared on  T
Read more

Etihad, Alibaba, Ant partner on customer experience

-
Image
AFP PHOTO / Andreas SOLARO Etihad Aviation Group (EAG), Alibaba Group Holding Limited, and Ant Financial Services Group (ANT Group) have signed a Memorandum of Understanding (MoU), to expand their partnership and deliver superior products and services to Chinese customers. The group plans to expand cooperation through greater collaboration on respective loyalty programmes. In addition, new products and services will be introduced to deliver an improved guest experience and improved logistics. Under the agreement, Alibaba and Etihad Guest, the award-winning loyalty programme of Etihad Airways, will explore enhanced programme benefits and opportunities for cross-acquisition of loyalty points. This will include points’ conversion to Etihad Guest Miles, reciprocal benefits across premium tiers, and the ability to redeem Etihad Guest Miles for Alibaba products. In addition, Alibaba Group and Etihad Airways will enter into a brand partnership agreement that will integrate the Alibaba G
Read more