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GSM Subscribers to Pay More for Data From Dec.1

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Subscribers
  • GSM Subscribers to Pay More for Data From Dec.1

Subscribers of the Global System of Mobile telecommunications across the country would pay more for data with effect from December 1, 2016.

Although the telecoms companies declined to speak on the matter, top management workers across the networks confirmed the story to our correspondent, saying that the directive was from the Nigerian Communications Commission.

Speaking on the condition of anonymity, a senior management employee of Etisalat Nigeria said, “The NCC issued the directive late last week on the orders of the Federal Government. We have not announced it yet because most of the major telcos have been meeting the NCC on how to reverse this policy, because it will be too harsh for Nigerians.

“However, we further gathered that the Federal Government took the decision having discovered that data rates are very low-priced in Nigeria, compared to other countries, including nearby African countries.

“The government might have also taken the decision given that Nigerian subscribers have been kicking against the proposed nine per cent Communication Tax, whose bill is currently in the National Assembly.”

Pleading not to be mentioned, an employee of MTN said, “What this means is that MTN, Airtel, Etisalat And Globacom will increase their data rates as from December 1, 2016. A data plan of N1,000 for 1.5 Gigabytes will now be increased to N3,000 at N1,000 per 500 Megabytes.”

In text messages sent out to its subscribers, MTN, Africa’s mobile telecommunications giant, confirmed that it had agreed to implement the directive of the NCC.

The MTN text read, “Dear customer, please be informed that from 1st of December, some MTN data tariffs will be increased to reflect the new rates set by the NCC for operators. Thank you.”

However, a representative of the commission said that the telecoms regulator was unaware of such plans by the operators, even as she said her bosses had claimed ignorance of the circulated message.

“We are unaware of it. I just asked my bosses; they are unaware. We will forward your query to MTN for appropriate attention,” she said over the telephone.

However, in a letter by the NCC to the operators sighted by our correspondent, the commission stated, “This rate will subsist pending the finalisation of the study on the determination of cost-based pricing for retail broadband and data services in Nigeria.

“In order to provide a level playing field for all operators in the industry, small operators and new entrants to acquire market share and operate profitably, small operators and new entrants are hereby exempted from the price floor for data services.”

It added, “For the avoidance of doubt a small operator is one that has less than 7.5 per cent market share and a new entrant is an operator that has operated less than three years in the market.

“All operators are to ensure that subscribers are not automatically migrated to pay-as-you-go platform.

“Also, note that effective date for the interim price floor is December 1, 2016.”

Reacting to the development, the President, National Association of Telecommunications Subscribers, Mr. Adeolu Ogunbanjo, said that the NCC representative was being economical with the truth.

He said that for MTN to have sent out millions of text messages to its subscribers “clearly shows that the NCC indeed issued the directive.”

Ogunbanjo, however, said that the association would resist the tariff hike, adding, “We will challenge it in court. We are going right away to set the machinery in motion. We are also going to do an urgent letter to the NCC Executive Vice Chairman, Prof. Umar Danbatta, which we will drop in his e-mail box.

“Unfortunately, the notice is short; today is November 28, yet the order will take effect from December 1. It is not just good for broadband penetration, whatever the reason may be. It is against telecoms subscribers.”

According to him, data availability means more youth engagement because they use data to develop apps and build software.

“But with what the NCC has done, these boys who develop apps will be slowed down and limited. The cost of doing business will also increase,” he added.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Technology

Uber Raises Tfare By 13 Percent In Lagos

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The economy option for ride-share giant company, Uber, popularly referred to as UberX, has been increased by 13 percent in Lagos State.

An electronic mail message from the ride-hailing firm to its drivers stated that the increment would start from May 11, 2021.

Uber said the increase was to ensure a reliable earning opportunity for driver-partners.

“At Uber, we remain committed to providing a reliable earning opportunity for driver-partners, as well as a reliable and affordable service for riders. With this in mind, starting 11th May 2021, we are increasing prices on UberX by about 13 percent,” the message read.

Earlier, Uber and Bolt drivers under the aegis of Professional E-hailing Drivers and Partners Association, declared a strike in April in Lagos, seeking an upward review of e-cab fares to reflect the current economic

They also wanted both companies to reduce the commission charged on rides from 25 percent to 10 percent.

National President of PEDPA, Mr. Idris Shonuga, had at a news conference in Lagos, said, “Instead of fixing a new and reasonable fare in line with inflation, the companies have recklessly continued to maintain the low fare, thereby, impoverishing hard-working young Nigerians who are diligently and lawfully trying to make a decent living.”

The e-cab operators also demanded adequate welfare package for drivers and compensation to the families of those that lost their lives or are permanently disabled in the line of duty.

The association said that more than 15 drivers had lost their lives, while some had been permanently disabled in accidents in the course of the service.

It also said more than 20 others have also lost their lives through kidnapping or killed by ritualists without any compensation from the operators.

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Technology

CEOs of Major Tech Companies Have Sold Over $6 Billion of Their Stocks in 2021

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Stocks - Investors King

Data acquired and calculated by Finbold indicates that CEOs of the five selected major tech firms have sold $6.36 billion worth of shares between January 1 and May 10, 2021.

Jeff Bezos leads, having offloaded AMZN shares worth $4.9 billion. Facebook CEO Mark Zuckerberg has sold $1.2 billion of his stock. Cumulatively, the two executives have offloaded $6.1 billion worth of shares from their respective companies.

Elsewhere, Nvidia CEO Huang Jen Hsun has sold $77.28 million worth of shares to rank third. Microsoft chief executive Nadella Satya has offloaded $65.44 million of MSFT stock, while Alphabet’s Pichai Sundar has sold $33.05 million. Among the top tech companies, only Tesla and Apple CEOs have not sold any of their stock in 2021.

Insider selling follows a surge in tech stocks

The highlighted companies have recorded a spike in the stock value over the past year, and the research report notes that:

“The sales come in the wake of tech sector stocks surging to new highs amid the coronavirus pandemic. In the pandemic, with wide-scale lockdowns, the companies run by the CEOs played a key role by offering services and products to help people manage the effects of the health crisis. The attention on these services drives the stock prices to record levels.”

Although insider trading is increasing in popularity, the activity is an essential indicator for investors to predict future price movement.

Overall, insider trades offer the overall market and investor outlook. When a single executive increases selling activity but others hold their shares, it does not call for alarm among investors.

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Telecommunications

MTN Nigeria Resumes SIM Card Sales, Activation

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sim card - Investors King

MTN Nigeria has resumed the sales of SIM cards across the nation, according to the latest report from the leading telecommunications company.

In a statement released on Monday, MTN Nigeria said customers can walk into any of the stores listed below to buy and activate their SIM cards.

Customers are therefore advised to visit with their National Identity Number (NIN) and any of their voter’s card, driver’s license and international passport.

The statement reads “We are delighted to inform you that SIM card sales have commenced in some select MTN stores.

“Simply walk into any of the stores listed below to buy and activate your SIM.

“Thank you for choosing MTN

“To make your experience at our store seamless and make the process faster, please be kind to come with the following:

1. Your National Identity Number (NIN) is mandatory by law for registering and activating your new SIM.

2. In addition, please come along with any one of these valid, government issued IDs:
i. Your NIN slip
ii. Your Voter’s Card
iii. Your Driver’s License
iv. Your international passport.

SIM registration cannot be done by proxy.

If you do not yet have a NIN, please click on this link Enrolment Centres – CUSTOMER NIN CAPTURE (mtnonline.com) to find the nearest enrollment center

“We look forward to seeing you, and welcoming you to the Yello Family soon!”

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