Business

FCCPC denies a hand in the reported airtime credit overhaul

Published

4 months ago

June 8, 2026

The Federal Competition and Consumer Protection Commission (FCCPC) has denied reports that it secured presidential approval to restructure Nigeria’s airtime credit market and allow new operators to join the sector.

In a statement issued on Saturday, Ondaje Ijagwu, the commission’s spokesperson, disclosed that the agency played no part in the development as alleged.

“The commission wishes to state clearly that it is not aware of, and was not involved in the claims attributed to it in the report.”

FCCP’s reaction comes on the heels of claims that President Bola Tinubu has given the go-ahead to plans to open the market to nine Nigerian fintech firms as part of the administration’s Nigeria First policy.

The reports said the push would expand participation in a sector largely dominated by telecommunications operators and their partners, and could play a big role in reducing capital flight.

The reports also estimated that the market is worth about ₦3 trillion annually.
The FCCPC, however, did not comment on the estimated market size or the companies mentioned in the reports.

The commission also reiterated that the implementation of the DEON Consumer Lending Regulations 2025 remains suspended.

According to the FCCPC, the suspension followed an interim injunction granted by the Federal High Court in Lagos on 15 April in a suit filed by the Wireless Application Service Providers Association of Nigeria (WASPAN).

Mr Ijagwu said the commission remains bound by the court order pending the determination of the suit.

“As a law-abiding public institution, FCCPC remains bound by the court order to suspend enforcement of the regulation pending the determination of the substantive case by the court, which has been fixed for July 20, 2026, for further hearing,” he said.

He emphasised that the commission would steadfastly follow all lawful procedures related to the matter while fully complying with the court’s directives.

Related Topics:airtime credit denies FCCPC hand overhaul reported

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NNPC’s profit after tax rises to N431bn in August

Published

3 hours ago

October 13, 2026

PlateauReports

The Nigerian National Petroleum Company Limited (NNPC Ltd.) says it recorded a 54.5 per cent increase in Profit After Tax (PAT), rising from N279 billion to N431 billion in August 2026.

NNPC Ltd. made this known in its monthly operations and financial report for the month of August 2026.

According to the report, revenue for the period stood at N3.74 trillion as against N3.09 trillion recorded in July.

It said the company also recorded a 19.89 per cent increase in cumulative statutory payments, from N7.91 trillion for January to July, amounting to N9.49 trillion from January to August.

The report puts the average crude oil and gas production figures for the period at 1.69 million barrels per day (bpd) and 7,680 million standard cubic feet per day, respectively.

ALSO READ: NNPC posts ₦535 billion profit, records 1.72 million barrels daily oil output in June

On the state of infrastructure, it said there was 100 per cent availability of upstream pipelines, while the OB3 and Ajaokuta-Kaduna-Kano (AKK) Gas Pipelines stood at 100 per cent and 95 per cent completion, respectively.

(NAN)

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Business

IGP: Illicit Arms Proliferation Fuelling Terrorism, Banditry, Kidnapping Across Africa

Published

11 hours ago

October 13, 2026

PlateauReports

The Inspector-General of Police, IGP Olatunji Rilwan Disu, psc(+), NPM, today, Monday, 12th October 2026, declared open the Small Arms and Light Weapons Identification and Tracing (SALW-IT) Simulation Programme in Abuja. The five-day programme, running from 12th to 16th October 2026, is designed to strengthen participants’ capacity to identify, mark, register and trace small arms, light weapons and ammunition.

Participants are drawn from Nigeria, Chad, the Central African Republic, Mali, Algeria, Côte d’Ivoire, Burkina Faso, Cameroon, Niger, Libya, Benin and the Republic of the Congo. The training combines technical instruction with practical exercises, including simulations at the Nigeria Police Simulation Centre.

In his remarks, the IGP described illicit arms proliferation as a major threat to peace and security across Africa, fuelling terrorism, banditry, kidnapping and organised crime. He noted that effective weapons tracing helps investigators uncover trafficking networks, financiers and supply routes, enabling targeted action against illicit arms trafficking.

The IGP highlighted the programme’s relevance to preparations for Nigeria’s upcoming elections. He noted that disrupting illicit arms supply would help prevent electoral violence and intimidation, protect voters and electoral personnel, and support the security conditions necessary for peaceful, free and fair elections.

To extend these benefits to frontline policing, the knowledge and skills acquired will be cascaded through structured training and knowledge-sharing across Police commands and formations. This will strengthen officers’ ability to identify, trace and recover weapons, develop actionable intelligence and support routine policing and election-security operations.

The IGP called for closer sub-regional and continental cooperation through timely intelligence sharing, coordinated investigations and mutual assistance in locating and lawfully apprehending suspects involved in transborder crimes. He stressed that cooperation through established legal and institutional channels is essential to preventing offenders from exploiting national borders to evade justice.

He further stated that all Inspectors-General of Police from West and East African countries would come together to deliberate on crime-related issues and develop modalities for addressing transborder crime. These deliberations would support the broader drive for coordinated responses to shared security threats.

The IGP commended the African Union Mechanism for Police Cooperation (AFRIPOL), the Bonn International Centre for Conflict Studies (BICC), INTERPOL, relevant African Union entities and experts from the German Armed Forces Verification Centre for their support. He urged participants to share operational experiences, build lasting professional relationships and apply the knowledge gained in their respective countries.

The Inspector-General of Police, IGP Olatunji Rilwan Disu psc(+), NPM, reaffirmed the Force’s commitment to regional and continental arms-control efforts and pledged sustained institutional support and operational cooperation to translate the training into improved public safety and election security.

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