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3'   BUSINESS & ECONOMY MTN lifts partial ban on Glo calls Published August 1, 2019 Ife Ogunfuwa MTN has lifted its partial ban on calls from Globacom subscribers to its network after stakeholders intervened in the matter. This came after a breakdown in mobile communication between 46.6 million Globacom subscribers and MTN network users, which lasted more than five days. This cost both companies a huge loss in revenue. But a reliable source within the MTN, who spoke on condition of anonymity, told our correspondent on Wednesday, “There was pressure on MTN to lift the partial disconnection because of the technicality of the business.” The PUNCH  also confirmed from Globacom subscribers that calls to MTN network  on Wednesday were successful as against Tuesday when they had difficulty in reaching families and friends using MTN lines. In December 2018, the telecom regulator granted an approval to mobile ...

Nigeria’s largest mobile operator is about to become a bank By Yomi Kazeem August 1, 2019 The fledgling mobile money market in Nigeria is about to get a major shake-up. MTN Nigeria, the country’s largest telecoms operator, has been granted a “super agent” license which allows it set up an agent network through which it can provide financial services. It’s the first step in MTN’s plans to finally roll out mobile money services in Africa’s largest economy as the company says it has also applied for a payment service bank license, which will allow it “offer a broader and deeper range of financial services.” The license comes after reforms by Nigeria’s central bank last October permitting telecoms operators to get mobile money and banking licenses in a bid to boost financial inclusion and facilitate the long-held ambition for a cashless society. As already seen in several African countries, the real-life application of mobile money among unbanked populations ranges from quick...

Asset declaration: I have no new houses, shares – Buhari President Muhammadu Buhari. Twitter image John Ameh, Abuja President Muhammadu Buhari submitted his asset declaration forms to the Code of Conduct Bureau on Tuesday, meeting the May 28 deadline the bureau set for public officers to make their end of tenure declaration. Buhari will be inaugurated for a second term on Wednesday (today) for another four years.  By constitutional provisions, the declaration is mandatorily to precede his oath taking today. “The duly completed forms were submitted to the Chairman of the CCB, Prof Mohammed Isa, on behalf of the President by Sarki Abba, Senior Special Assistant, Household and Domestic Affairs”, the Presidency said last night in a statement by Buhari’s Senior Special Assistant on Media and Publicity, Mr Garba Shehu. The President claimed not to own new property than the assets he declared in 2015 when he began his first term. The Presidency said, “The form...

Nigeria Has Become Africa's Money-Losing Machine Kenneth Rapoza Senior Contributor Markets I write about business and investing in emerging markets. In five years, the Nigeria ETF has blown up, now down over 74.5%. Equity investment between 2013 and 2018 has fallen from around $2.9 billion in 2013 to just $139 million in 2018. Fire from a pipeline explosion in Nembe, Nigeria. The image serves as a partial testament to oil-and-gas-rich Nigeria’s failure to improve its energy infrastructure.   photo credit: ASSOCIATED PRESS Want to lose money in one of Africa’s biggest markets? Put it to work in Nigeria. Despite sitting on nearly 40 billion barrels of proven oil reserves and over $48 billion worth of investment opportunities in the oil and gas sector, Africa’s largest economy is mired in problems with big corporate investors as president Muhammadu Buhari readies his second-term after a swearing-in ceremony scheduled for May...

MacKenzie Bezos Pledges to Give Away Half Her Fortune VOA News FILE - Amazon's Jeff Bezos and MacKenzie Bezos are seen before their recent divorce at the 89th Academy Awards Oscars Vanity Fair Party, Beverly Hills, California, U.S., Feb 2, 2017. MacKenzie Bezos, who just months ago divorced the world's richest man, has pledged to give away half her fortune to charity. The former wife of Amazon founder and chief executive Jeff Bezos is one of the 19 new signatories to the  Giving Pledge  who have promised to donate more than 50% of their wealth, the organization said. "I have a disproportionate amount of money to share,'' MacKenzie Bezos said in a letter released Tuesday. "My approach to philanthropy will continue to be thoughtful. It will take time and effort and care. But I won't wait. And I will keep at it until the safe is empty." Bezos' personal fortune is worth nearly $37 billion, making her the 2...

segunakindolani.blogspot.com Top billionaires: who is the richest person in the UK and the world? Billionaire Hinduja brothers top Sunday Times rich list Phillip Faraone/Getty Images Amazon chief executive Jeff Bezos is the richest man in the world May 24, 2019 The billionaire Hinduja brothers are the richest people in the UK, according to latest rich list from The Sunday Times. Srichand and Gopichand Hinduja, who control the Hinduja Group conglomerate, saw their wealth rise by £1.356bn in the last year to £22bn, says the  newspaper . The Hinduja Group is a family business originally founded in Mumbai in 1914, and now “has interests around the world including in oil and gas, banking, IT and property”, the  BBC  adds. Chemicals entrepreneur Sir Jim Ratcliffe fell from the top spot to third place, behind property moguls David and Simon Reuben. Elsewhere, controversial entrepreneur Sir Philip Green has crashed down the ...