Supreme Court reaffirms CBN directive, insists banks to issue, accept old, redesigned Naira – ITREALMS

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The Supreme Court of Nigeria on Wednesday, November 29, 2023, granted the Central Bank of Nigeria extension order on the use of the of old Naira banknotes ad infinitum, reports ITREALMS.

With this, Supreme Court has reaffirmed CBN recent directive on the use of both old and redesigned notes beyond December 31, 2023.

COVID-19: Nigeria yet to issue any license for 5G - ITREALMS

ITREALMS:

The Minister of Communications and Digital Economy, Dr Isa Ali Ibrahim (Pantami), has cleared the air over purported play or deployment of Fifth Generation (5G) networks in Nigeria as there is no frequency spectrum released in this regards, reports ITREALMS.

Pantami in a press statement personally endorsed and made available to ITREALMS, he said his attention has been drawn to the public concern about the health implications of the deployment of Fifth Generation Mobile Networks (5G) in Nigeria and based on available records he clarified as follows:

"i. The National Frequency Management Council (NFMC), of which I am the Chairman, has not deliberated on or released any bulk frequency spectrum for the deployment of 5G;

"ii. No license has been issued for the deployment of 5G in the country;

"iii. A 3-month study trial commenced on the 25th of November, 2019 in order to critically review and study the health and security implications of deploying 5G in Nigeria;

"iv. As part of the study trial process, I directed the Nigerian Communications Commission (NCC) to ensure that a team of experts, security agencies and other stakeholders fully participate in the trial process and my office also invited these agencies to participate in the trial; and

"v. The trial process has been concluded and the study and reporting process is currently ongoing."

As said by Pantami, the President, General Muhammadu Buhari, retired, places a premium on the welfare, health and security of Nigerians.

"As such, our desire for technological advancement will never be at the expense of the health and welfare of our citizens," he declared.

Pantami assured that FG will not act on the speculations only, but rather we will take an informed decision on 5G after due consultation with experts and the public.

"I have also directed the NCC to engage citizens on any questions or concerns they may have regarding 5G ... We advise you all to remain rest assured that government will always take the welfare, health and security of the public into account while considering the deployment of any technology," he assured.

Remmy Nweke/DoP

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Foreign vendors issue disconnection notice to Nigerian telcos

ITRealms:

The Association of Licensed Telecommunication Operators of Nigeria (ALTON) has revealed that some foreign vendors of telecommunications equipment have issued “Notice of Disconnection” to its members, over their inability to meet with the current unfavourable credit terms, reports ITRealms.

Chairman, ALTON, Engr. Gbenga Adebayo, made this disclosure to ITRealms at the recent breakfast session with members of the Nigeria Information Technology Reporters Association (NITRA) in Alausa-Ikeja, Lagos.

He listed some three adverse impacts to telecom sector due to lack of exemption of the sector from Foreign Exchange (FX) priority list by the Central Bank of Nigeria (CBN).

These, he said, include an increased operating cost, unfavourable credit terms and  delayed implementation of network enhancement as well as improvement initiatives.

On increased operating cost, he noted that in the absence of local substitutes for its plant and machinery, the telecommunications service providers are constrained to source FX from interbank market at higher rates compared to other sectors such as manufacturing, aviation and agriculture accorded priority in FX allocation at reduced rates by the Central Bank of Nigeria (CBN).

“Owing to the prevailing economic situation in the country, ALTON members cannot transfer the increased cost burden to the consumers, thereby contracting profitability and ability to make further investment to drive growth in the industry,” he said.

The ALTON boss also pointed out that the unfavourable credit terms has made it very challenging for operators to honour their obligations to foreign vendors as at when due.  This has occasioned delayed payment to equipment suppliers and other foreign vendors, who have now resorted to imposing unfavourable payment terms on telecommunications service providers in Nigeria. 

“Some of the Foreign Vendors had issued Notice of Disconnection of service, which could disrupt service availability with attendant impact on customers’ experience,” he revealed.

ALTON noted with dismay that delayed implementation of network enhancement and improvement initiatives, recalling that ALTON members made commitments intended to ensure the implementation of National Quality of Service (QoS) Fixing Project.

This, he said, is a coordinated network investment plan supervised by the Nigerian Communications Commission at designated locations nationwide over a period of time by the Telecommunications Service Providers to ensure improved QoS. 

“The continuity of this initiative is dependent on obtaining FX to import equipment required to carry out the intended national QoS Fixing Project.  ALTON is of the view that if proactive measures are not taken to ensure easy access to FX, the National QoS Fixing Project is likely to be adversely impacted to the detriment of the citizenry and economy.

ALTON requested CBN to include Telecommunications Equipment and Invisibles among the list of items/Sectors to be allocated from the 60 per cent FX availability by the Banks.

“This is to ensure the continued provision of world-class telecommunications services to the consumers,” he said.

Sherif Ayilara/GEE

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