Business
NCC Seeks Stronger Security Collaboration to Tackle Telecom Sector Threats
BY NKECHI NAECHE-ESEZOBOR —-The Nigerian Communications Commission (NCC) has called for stronger collaboration with the nation’s security institutions to combat criminal activities threatening the telecommunications sector.
The appeal was made by the Executive Vice Chairman of the Commission, Professor Umar Garba Danbatta, as part of efforts to safeguard critical telecom infrastructure and sustain industry growth.
He disclosed this at the North Central Zonal Sensitization Workshop for security agencies held in Keffi, Nasarawa State.
He said the collaboration and partnership is important to enable the Commission to “move steadily in harnessing fully, the potential of telecommunications and to sustain the exponential growth in the sector in view of the central role telecommunication plays in the social and economic development of the nation”
The EVC seized the opportunity of the forum to thank the Office of the National Security Adviser; the Nigeria Police Force; the Department of State Services; the Nigerian Security and Civil Defence Corps; the Nigeria Customs Service; the Federal Road Safety Commission and other agencies involved in security governance for the support they have offered the NCC in its effort to contain telecom crimes.
The Workshop, which was attended by personnel from all these agencies, featured paper presentations covering the gamut of challenges of enforcement processes including the role of ICT in Effective Policing; Challenges of Prosecuting Telecom Offences; Overview of NCC Enforcement Regulations; and Overview of NCC Enforcement Powers under the Nigerian Communications Act (NCA) 2003.
Resource persons at the Workshop include Dr. Solomon Arase, former Inspector General of Police; and Paul Usoro, SAN; as well as the representation from the Commission which includes Efosa Idehen, Head Compliance Monitoring and Enforcement who represented the EVC; Dr. Henry Nkemadu, Deputy Director Research & Development; Helen Obi, Head Zonal Operations; Salisu Abdu, Head Enforcement; GT Mohammed, Assistant Director Legal and Regulatory Services; and Al-Kassim Umar, Head Compliance Monitoring.
It was a highly participatory workshop marked by lively, robust and seminal discussion the Commission will find quite useful in its strategic plan to re-engineer its operations for improved regulatory efficiency, robust stakeholder engagement and better quality of consumer experience.
The post NCC Seeks Stronger Security Collaboration to Tackle Telecom Sector Threats appeared first on Business Today NG.
BY NKECHI NAECHE-ESEZOBOR—Mutual Benefits Assurance Plc has disclosed an insider transaction involving one of its directors, Dr. Akinade Ogunbiyi, who sold more than 1.5 million shares in the insurance company in a deal valued at over ₦6.3 million.
The disclosure, signed by Jide Ibitayo, Company Secretary, filed with the Nigerian Exchange (NGX) and the investing public, showed that Ogunbiyi, a Non-Executive Director of the company, disposed of 1,507,309 ordinary shares of Mutual Benefits Assurance Plc between June 3 and June 9, 2026.
According to the notification, the shares were sold at prices ranging from ₦4.20 to ₦4.33 per share, placing the total value of the transaction at between ₦6.33 million and ₦6.53 million.
The transaction was reported as an initial notification of insider dealing in line with regulatory requirements that mandate directors and other insiders of listed companies to disclose transactions involving the securities of their companies.
Mutual Benefits Assurance identified the financial instrument involved in the transaction as its ordinary shares, traded on the Nigerian Exchange under the ticker symbol “MBENEFIT.”
Insider dealing notifications are a key component of market transparency and corporate governance, providing investors with information on share transactions undertaken by directors, executives, and other individuals with access to potentially price-sensitive information.
While insider transactions often attract investor attention, market analysts note that such dealings do not necessarily indicate changes in a company’s outlook, as they may be influenced by personal investment decisions, portfolio rebalancing, or other financial considerations.
The disclosed transaction took place in Lagos, Nigeria, and was executed over a seven-day period between June 3 and June 9, 2026.
Mutual Benefits Assurance Plc remains one of the companies listed on the Nigerian Exchange that regularly complies with insider dealing disclosure requirements, reinforcing transparency in the capital market.
The post Insider Dealing: Mutual Benefits Director, Ogunbiyi Sells Shares Worth Over ₦6.3 Million appeared first on Business Today NG.
The Federal Government has dismissed reports suggesting it plans to introduce new taxes on telecommunications services and petroleum products, saying the claims are false and misleading.
The Federal Ministry of Finance disclosed this on Wednesday in a statement signed by Maryann Duke, senior special assistant on communications and press secretary to the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele.
It said the reports, which linked the proposed taxes to the International Monetary Fund (IMF) Article IV Consultation on Nigeria, do not reflect its position.
According to the government, the recommendations contained in the IMF report are advisory and do not constitute policy decisions or binding actions for Nigeria.
“The Federal Government is not considering the introduction of any new taxes on telecommunications services or petroleum products,” the statement said.
Fuel tax rules remain unchanged.
The government also clarified that existing tax arrangements on petroleum products remain in place.
It said the Value Added Tax (VAT) waiver on fuel has not been removed and is still active.
It also explained that any fuel surcharge can only take effect through a ministerial order published in the Official Gazette, adding that no such action is being considered.
According to the statement, the current arrangements have helped cushion the impact of global fuel price changes on Nigerian households and businesses.
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Telecoms excise duty
On telecommunications, the government said the excise duty introduced before 2023 has already been repealed under the new tax laws.
It added that the tax is, therefore, no longer in force.
The ministry urged Nigerians, media organisations and businesses to disregard claims about new telecoms and fuel taxes.
It said Nigeria’s tax policy remains focused on improving revenue collection, supporting economic growth, and attracting investment, rather than increasing the tax burden on citizens.
The ministry added that any future tax changes would be communicated through official channels and implemented strictly in line with due process.
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