News
NCC boss, Danbatta tasks licensees on compliance with regulatory frameworks
In order to ensure competitive ND sustainable telecoms sector in Nigeria, the Executive Vice Chairman of the Nigeria Communications Commission,(NCC) Prof. Umar Garba Danbatta has tol
telecom licensees to always comply with the provisions of extant laws, subsidiary legislation and other regulatory frameworks put in place.
He spoke at a two-day tripartite dialogue of the Commission tagged, ‘Talk To The Regulator (TTTR) Forum’ which was held in Kano over the weekend.
The programme had in attendance representatives of more than 104 telecoms licensees in different categories and segments of the Nigerian telecoms market as well as consumers of telecoms services.
According to him, the Commission continues to engender an effective regulatory environment, there is a need for licensees to support several initiatives carefully designed to enhance market opportunities for all its licensees.
“Telecoms industry sustainability can only be guaranteed where all licensees ensure full and effective compliance with licence conditions and other regulatory prescriptions.
“So, this forum provides an opportunity to discuss areas where some of our licensees are falling short of their licence obligations, and how we can collectively improve on the present situation,” he said.
The EVC highlighted some of the key policies that have been articulated by the Federal Government, including the National Digital Economy Policy and Strategy (NDEPS, 2020-2030); the Nigerian National Broadband Plan (NNBP, 2020-2025), the Revised national Digital Identity Policy for SIM Registration, among others, and sought the licensees’ full and unalloyed commitment to ensure their successful implementation.
Danbatta also briefed the licensees about some activities which the Commission is pursuing to further facilitate the achievement of its regulatory mandate.
These include the recently-launched NCC’s five-pillar Strategic Vision Plan (SVP, 2021,2025); commencement of a comprehensive review of its licensing frameworks; ongoing reviews of other key regulatory instruments to align with the rapidly emerging contemporary developments; ongoing National Identification Number (NIN) and Subscriber Identity Module (SIM) linkage exercise; as well as the ongoing efforts to launch the Fifth Generation (5G) network in Nigeria.
The NCC CEO said, as the regulator, the NCC provides the enabling environment for healthy competition in the industry.
Executive Commissioner, Stakeholder Management, NCC, Adeleke Adewolu, who amplified Danbatta’s voice on the need for strict compliance with telecoms regulations by the licensees, said telecoms has continued to lead national economic growth through effective regulation and adherence to rules of engagement by the licensees.
Thus, Adewolu said the sector has consistently driven the growth of the Nigerian economy and has provided the critical infrastructure required for the digital transformation of practically all spheres of life.
He declared that in the second quarter of 2021, the Information and Communication Technology (ICT) sector sustained its trajectory of growth and contributed 17.9 per cent to the nation’s Gross Domestic Product (GDP).
Adewolu, however, identified three key factors driving the sector’s performance to include a stable policy environment engendered by various digital economy policies; a consistent tradition of firm, fair, forthright, transparent and developmental regulatory oversight provided by the NCC; as well as long-term infrastructure investment and service commitments of telecoms licensees.
“The NCC has, therefore, organised this forum to enable us to strengthen collaboration along these three lines, to enable our valued stakeholders to give us feedback on ongoing initiatives and to enable you to seek clarifications on issues of concern,” Adewolu told the forum.
In his remarks, Director, Licensing and Authorisation, NCC, Mohammed Babajika, said while the Commission is fully aware and committed to discharging its mandate, especially in facilitating a conducive telecoms environment and guiding the industry to sustain the achievement already recorded in the industry, these can only be possible with the cooperation and support of the licensees.
Babajika said the Commission recognises the importance of various service providers, hence the need to constantly engage the licensees with a view to identifying generic and unique challenges and collectively proffering solutions to them.
The overarching objective of the forum, which is in line with NCC’s vision of strategic collaboration and partnership, was to get first-hand feedback from NCC’s licensees. The programme will be hosted in other cities across the country during the year.
…Declares a total dividend of N2.10 per share
Lagos, Nigeria, March 29, 2025: Leading financial institution, Fidelity Bank Plc, released its 2024 full-year Audited Financial Statements, reporting a 210% growth in Profit Before Tax to N385.2 billion.
According to the Bank’s results released on the Nigerian Exchange (NGX) on Friday, 28 March 2025, Gross Earnings increased by 87.7% to N1,043.4bn, driven by 106.9% growth in interest and similar income to N950.6bn. The increase in Interest Income was led by a combination of improved yield on earnings assets and 51.6% expansion in earnings base to N6.3tn. This led to a Profit After Tax of N278.1 billion, representing a 179.6% annual growth.
Commenting on the results, Dr. Nneka Onyeali-Ikpe,OON, Managing Director/Chief Executive Officer, Fidelity Bank Plc said, “We are delighted with our 2024 full-year (FY) performance, which showed strong growth across key revenue lines, improved asset quality, and significant traction in our strategic business segments. Our impressive results led to a triple-digit increase (210.0%) in Profit Before Tax (PBT), rising from N124.3bn in 2023 to N385.2bn in 2024.”
A further review of the financial performance revealed that the bank’s net interest income increased by 127.1% to N629.8 billion, driven by a high-yield environment in 2024. To optimize its margin, the bank sustained its asset yields above funding cost by maintaining a high low-cost deposit profile at 92.6%. This led to an increase in its Net Interest Margin from 8.1% in 2023 FY to 12.0%.
Similarly, the bank continued to deepen its market share in both the corporate and retail segments, with customer deposits increasing by 47.9% from N4.0trn in 2023FY to N5.9trn. The increase was driven by strong double-digit growth across all deposit types. The Retail Banking Business gained significant traction with savings deposits increasing by 28.8% to N1.1trn, marking the 10th consecutive year of double-digit annual growth in savings deposits.
Despite the difficult economic terrain in 2024, the bank has continued to support the real sector of the economy by increasing its Net Loans & Advances from N3.1tn in 2023FY to N4.4tn in 2024FY.
“This remarkable performance demonstrates our capacity to deliver superior returns to our shareholders. In line with our commitment to them, we have declared a final dividend of N1.25 per share, bringing our total dividend for the 2024 financial year to N2.10 per share”, explained Onyeali-Ikpe.
Having consistently paid dividends since 2006, Fidelity Bank will pay investors a total dividend of N2.10 per share for the 2024 financial year, subject to shareholders’ approval at its Annual General Meeting (AGM) on 29 April 2024. The dividend will be paid on 29 April 2025 to shareholders whose names appear on the register of members as of 15 April 2025.
It will be recalled that the bank successfully completed the first phase of its capital raising exercise through a Public Offer and Rights Issue in 2024, which were oversubscribed by 237.92% and 137.73%, respectively. The positive result is a testament to the strength of the Bank’s franchise in the capital market. A total of N175.9bn was recognized as fresh capital in 2024 financial year from the exercise, which had a positive impact on its Capital Adequacy Ratio (CAR) at 23.5%. The bank plans to conclude the second phase by Q3 2025, ahead of the Central Bank of Nigeria’s deadline, which will further strengthen its capital base and reaffirm its attainment of Tier 1 Bank status in the Nigerian Banking Industry.
Fidelity Bank Plc is a full-fledged commercial bank with over 9.1 million customers who are serviced across its 251 business offices and various digital banking channels in Nigeria and the United Kingdom.
The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.
Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
By Sunday James
The gruesome killing of 16 innocent northern hunters in Uromi, Edo State, over false accusations of kidnapping is yet another damning indictment of the failure of law and order in Nigeria.
Time and again, innocent lives have been lost to the mindless brutality of mob justice, a savage and inexcusable act that has become far too common across the country.
This is not an isolated incident. Nigeria has witnessed several tragic cases of jungle justice where angry mobs, fueled by misinformation and misplaced aggression, have taken the law into their own hands.
The Aluu Four incident in 2012, where four young university students in Rivers State were falsely accused of robbery, beaten, and burned to death in a horrific public spectacle, remains one of the most chilling examples.
In 2022, Deborah Samuel, a young student in Sokoto State, was lynched by fellow students over alleged blasphemy, an incident that sparked outrage but yielded little justice. In Lagos, several suspected petty thieves were set ablaze by mobs in broad daylight without any fair trial.
Across the country, from Anambra to Kano, Port Harcourt to Abuja, numerous cases of public executions by mobs continue to surface, often with little to no legal consequences for perpetrators.
The rise of mob justice is fueled by a cocktail of systemic failures that have left Nigerians disillusioned with formal justice mechanisms.
The breakdown of law and order, where the Nigerian police fail to deliver swift and transparent justice, has led to public distrust, encouraging citizens to take matters into their own hands. Rising insecurity, including the surge in kidnappings, banditry, and violent crimes, has left many communities in perpetual fear, triggering knee-jerk reactions to perceived threats. Ethnic and religious tensions have also played a major role, with deep-seated biases making certain groups more vulnerable to targeted attacks.
The proliferation of unregulated local vigilante groups and security outfits has further emboldened extrajudicial actions against innocent civilians. Additionally, the slow pace of criminal trials and the failure to punish perpetrators of jungle justice have normalized impunity.The Edo killings, like many before them, must not be swept under the rug.
The government must ensure immediate arrest, prosecution, and conviction of all those involved in this heinous act. Strengthening law enforcement agencies to curb vigilante excesses and restore public trust is paramount.
There must be massive public enlightenment campaigns to educate citizens on legal redress rather than mob action. Strict penalties must be enforced against communities and groups involved in jungle justice to deter future occurrences.The Nigerian government must wake up to its responsibility of protecting lives and ensuring justice for all.
If mob justice continues unchecked, no one is truly safe. This latest atrocity in Edo should be the final warning: justice delayed is justice denied. The killers must be held accountable, and a nationwide crackdown on jungle justice must begin immediately. Enough is enough. The rule of law must prevail.
The National Chairman of the All Progressives Congress (APC), Dr. Abdullahi Umar Ganduje, has congratulated the Muslim Ummah across the country on the occasion of Eid-el-Fitr.
The celebration marks the successful completion of the holy month of Ramadan.
In a message signed by his Chief Press Secretary, Edwin Olofu, Ganduje rejoiced with Muslims for the spiritual renewal and discipline attained during the sacred month of fasting, prayer and devotion to Almighty Allah.
He urged the faithful to uphold the virtues of piety, selflessness, and compassion that Ramadan represents while also extending love and kindness to one another, especially to the less privileged in society.
The APC National Chairman further called on Muslims and all citizens to remain steadfast in promoting unity, peace, and national progress in the country.
He emphasized that the lessons of Ramadan—patience, sacrifice, and perseverance—are essential in fostering harmony and strengthening the nation’s democratic institutions.
The two-term Kano State Governor also urged the Muslim Ummah and Nigerians to pray for President Bola Ahmed Tinubu to succeed in his efforts to lift the country from economic doldrums and resolve lingering security challenges.
He assured Nigerians of the APC-led government’s commitment to improving the welfare and well-being of all citizens, noting that Nigerians will not regret voting for President Tinubu after his first tenure.
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