NCC confirms MTN’s payment of another N30bn

 By Michael Okafor

The Nigerian Communications Commission (NCC) yesterday, 31 March 2017, confirmed that MTN, on Thursday, 30 March 2017, paid additional N30 billion, being the third payment of the N330 billion fine imposed on the telecoms company for refusal to deactivate 5.2 million unregistered SIM cards on its network.

Experts report on why Naira depreciates despite CBN intervention

By Michael Okakor:

The President, Association of Bureau De Change Operators of Nigeria (ABCON), Alhaji Aminu Gwadabe, has blamed the recent depreciation of naira on the speculators’ resistance by the banking industry.

The president revealed on Saturday in Lagos that the refusal of some banks to sell the invisibles such as personal and business travel allowances frustrated naira recovery.

The ABCON chief said that the CBN had recently accused the banks of frustrating its policies.