Technology

NCC Demands Financial Statements of MTN, Airtel, Others

Published

5 years ago

23/07/2020

By Adedapo Adesanya

The Nigerian Communications Commission (NCC) has directed licensed telecommunications service providers including MTN Nigeria, Airtel Nigeria, Globacom and three others to submit their financial statements as part of its ongoing Account Separation Framework (ASF).

This was disclosed in a statement issued by the NCC Public Affairs Director, Mr Ikechukwu Adinde, who explained that the request was to speed up the exercise which kicked off last week.

The six telcos that the directive cover include – Airtel Nigeria, MTN Nigeria, 9Mobile, Globacom Nigeria, Main One Cable Company Limited and IHS Nigeria.

According to the statement, the submission will help the commission to further ensure transparency and accountability as regards effective regulation and prevention of anti-competitive behaviour.

“With the commencement of the implementation of the framework, telecoms licensees are, henceforth, obligated to submit their regulatory financial statement (RFS) to the commission in line with the new ASF, within seven months after the end of the licensees’ financial year,” the statement read.

The new framework is being instituted by the industry regulator to champion and promote an environment that fosters open and transparent financial reporting while ensuring that charges for telecom services are cost-based and non-discriminatory.

The statement further disclosed that the submission of the financial statements by the six telecom licensees will subsist for an initial period of two years after which NCC may review the list to include other operators.

NCC noted that the reason for limiting the submission to only six telecom operators was to ensure that the necessary structure was put in place for reviewing and analysing the accounts before applying the new framework to all other licensees.

The regulator added that any other licensee willing to prepare its financial statements in line with the new framework is allowed to voluntarily do so, noting that the agency may exercise its discretion to demand that a licensee prepare and submit separated account where it is determined that the activities of such a service provider are deemed critical to the overall well-being of the Nigerian telecoms industry.

The commission noted that the ASF is an effective, least evasive and less costly solution to implement to meet its regulatory objectives, adding that the implementation of the framework is also a key deliverable for the commission in the 2020-2025 national broadband plan (NBP).

The policy document, Determination on the Implementation of an Accounting Separation Framework for the Nigerian Telecoms Industry, which was developed via a consultative process in 2015, has undergone a comprehensive review by the regulator in collaboration with telecoms licensees and other critical industry stakeholders.

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Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Technology

MTN Nigeria Revolutionises Urban Living With MyLagosApp

Published

3 days ago

20/03/2025

Aduragbemi Omiyale

By Aduragbemi Omiyale

A mobile application, MyLagosApp, designed to provide real-time updates on events, entertainment, hospitality, transport services and government-related payments, has been launched by MTN Nigeria in partnership with the Lagos State Government.

The digital platform was created by the Software Lab in MTN, according to the Chief Information Officer of MTN Nigeria, Shoyinka Shodunke, and is embedded with global security standards and practices with ISO 27001 certification.

At the launch of the app last Thursday, it was emphasised that security was a key priority in the design and development of the app to ensure the protection of user data and secure access to the app’s features and functionalities.

MyLagosApp, currently entitled MyCityApp on the app store, is available for download on both Android and iOS platforms. Users have been encouraged to download it to experience firsthand how urban living in Lagos has been transformed with the app.

The Deputy Governor of Lagos, Mr Obafemi Hamzat, while speaking at the unveiling of the app, reinforced the government’s commitment to leveraging technology for enhanced city management and connectivity.

He described it as a demonstration of the administration’s dedication to enhancing the lives of citizens through technological innovation.

“I commend the collaboration between MTN Nigeria and the Lagos State Government, alongside other key stakeholders, for making this vision a reality.

“This partnership is a testament to the power of technology in bridging the gap between the public and private sectors to drive innovation and improve lives.

“The app serves as a vital link between the government and the people, simplifying access to public services, providing real-time updates, and promoting transparency and accountability in governance.

“Whether you need to navigate government processes, access essential city services, or stay informed about key developments, MyLagosApp places all the information you need right at your fingertips,” Mr Hamzat said on behalf of Governor Babajide Sanwo-Olu.

On his part, the chief executive of MTN Nigeria, Mr Karl Toriola, said, “As we embrace the future of e-governance, digital entertainment and commercial innovation, initiatives like this are essential in making Lagos a truly smart city, and we are proud to partner with the Lagos State Government to drive digital transformation and enhance urban living.

“With the launch of MyLagosApp, we are leveraging technology to simplify access to essential services, improve connectivity, and create a smarter, more efficient Lagos for residents and visitors alike.”

Technology

Data Privacy: Nigeria Launches Investigation into TikTok, Truecaller

Published

3 days ago

20/03/2025

Adedapo Adesanya

By Adedapo Adesanya

The Nigeria Data Protection Commission (NDPC) has launched an investigation into the data processing practices of Tiktok and Truecaller, amid growing concerns over potential privacy violations.

This was disclosed, the chief executive of NDPC, Mr Vincent Olatunji, at a press conference in Abuja, where he also announced the issuance of the Nigeria Data Protection Act – General Application and Implementation Directive (NDPC act – GAID 2025).

According to Mr Olatunji, the commission is particularly concerned about how these platforms handle Nigerian users’ personal data, including potential breaches of consent, data sharing with third parties, and overall compliance with the Nigeria Data Protection Act (NDPA), 2023.

He said the NDPC is actively investigating the data processing activities of Tiktok and Truecaller to ensure their compliance with Nigeria’s data protection laws.

He noted that the goal was to safeguard the privacy rights of Nigerians and hold organizations accountable for how they collect, store, and use personal data.

The investigation follows increasing scrutiny of global technology companies over data privacy concerns, particularly regarding how personal information is processed, stored, and transmitted beyond national borders.

The NDPC act – GAID, 2025 provides a comprehensive framework for the implementation of Nigeria’s data protection law, setting out specific guidelines for compliance, enforcement mechanisms, and obligations for both private and public sector organisations.

He emphasized that the directive aims to strengthen Nigeria’s digital economy by fostering trust in data governance while ensuring that individuals’ rights to privacy are upheld in line with international best practices.

Mr Olatunji further reiterated that companies operating in Nigeria must align with the country’s data protection regulations or face regulatory actions, including fines and potential restrictions on their operations.

The NDPC has called on the public to report any data privacy violations and reaffirmed its commitment to transparency and due process in its investigations.

The agency stated that reporting data breaches have become easier with dedicated channels of reaching out to the commission from its official website.

Technology

Google Urges Nigerian Businesses to Drive Growth With AI Tools

Published

3 days ago

20/03/2025

Adedapo Adesanya

By Adedapo Adesanya

Google has intensified calls for Nigerian businesses to tap into the potential of artificial intelligence (AI) as data shows how it is fundamentally transforming consumer behavior and creating unprecedented opportunities.

According to Mr Brendon Kraham, Vice President of Search and Commerce, Global Ads Solutions, the numbers show that Google products around the intersection of searching, streaming, scrolling, and shopping can help position businesses for growth.

Amid Nigeria’s economic challenges, technology is proving to be a pathway to drive brand awareness that resort to action.

“We’re observing a significant evolution in how people interact with technology and brands. This evolution is driven by AI and characterized by a multi-modal consumer journey, where searching, streaming, scrolling, and shopping seamlessly intertwine,” Mr Kraham stated.

He added that AI is now powering businesses when it comes to modern search and advertising with Google’s AI Overviews, powered by Gemini, demonstrating how AI can provide richer, more conversational answers, leading to increased user engagement and exploration.

“This shift is reflected in the fact that 15 per cent of daily searches on Google are new, indicating a growing demand for complex, nuanced information,” he explained, adding that, “AI is supercharging search, and allowing for new ways to search, such as with images and voice.”

He explained that for consumers, there has been rising reliance on searching, streaming on YouTube, scrolling through Shorts, and shopping across Google’s platforms evidenced by the rise of visual search with Google Lens, where nearly 20 billion monthly searches demonstrate the power of seeing and searching.

“YouTube’s dominance in streaming, particularly on connected TVs, and the rapid growth of Shorts, further underscore this trend,” he noted.

Mr Kraham stated that Google and YouTube hold a unique position of trust, guiding consumers throughout their purchase journeys with data showing that over a billion daily shopping interactions occur and billions of hours of YouTube content watched.

He called for businesses to leveraged AI-powered tools like Performance Max and Demand Gen to achieve tangible outcomes, painting two success stories in the form of FairMoney and Wakanow.

FairMoney was able to quantify the incremental value of its Google App Campaigns for installs, seeing a 47 per cent increase in installs, 30 per cent increase in loan applications, and a 24 per cent increase in loans disbursed while Wakanow, an online travel platform, saw double booking revenue and achieve a tenfold increase in booking volume, according to data shared with Business Post.

“Marketers who have deeply integrated AI tools report 60 per cent greater revenue growth (BCG),” Mr Kraham noted.

Showing more data, he noted that there was a strong positive outlook on AI’s potential, with 87 per cent believing its benefits outweigh the risks, adding that a vast majority of Nigerians anticipate AI’s positive impact on the economy (81 per cent) and crucial sectors like science and medicine (90 per cent).

“The multi modal consumer journey, with the integration of shopping, search, and video, is very relevant in Nigeria, which is a very mobile first market. The growth of visual search and AI powered shopping tools, will greatly assist Nigerian consumers and businesses,” he said.