- Proposed Data Tariff Hike Will Prevent Monopoly
The Nigerian Communications Commission has said the proposed hike in data tariff by telecommunication companies is meant to protect the interest of the subscribers and prevent monopoly.
The Deputy Director, Consumer Affairs Bureau of the NCC, Mr. Ismail Adedigba, said this in Osogbo on the sidelines of the 81st consumer outreach programme held in Osogbo.
He said the agency had not given up on the proposed data tariff increment, saying the NCC was working to protect the interest of Nigerians in order to prevent telecom giants from ripping them off at the end.
Adedigba explained that some telecoms giants could charge very low tariff just to prevent new entrants in the sector, adding that after warding off competition, they would hike their price astronomically and subscribers would be at their mercy.
The NCC boss said, “It is the NCC’s mandate to regulate activities in the industry, to protect the interest of subscribers. That is the reason behind the plan to increase data tariffs.
“If we allow the operators to charge any price, some can charge very low prices and they will take all customers to their networks at the expense of new entrants.
“Nothing is free; once the consumers take the bait of rushing to the network offering cheaper tariff, competition will be eliminated. The effect is that once the big operators know that new entrants have been frustrated, they will increase their prices and the consumers will not have any choice because the new entrants have been crippled.
“At the end of the day, you would have predating prices and there will be no competition against the few ones left in the sector. So, we will continue to enlighten Nigerians.”
The Director, Consumers Affairs of the NCC, Alhaji Abdulahi Maikano, had earlier in his address said the agency would not shirk its responsibility of protecting the interest of subscribers.
Maikano said, “Consumers must be protected and that is why the commission has developed series of initiatives with the main goal of empowering consumers with appropriate information that will ensure that their rights are not only protected but their choices provide them with value for money.”
Consumers, who spoke at the meeting decried the alleged fraudulent activities of the major operators in the industry, saying they usually set trap for them to fall into with the aim of defrauding them.
Some also lamented the poor quality of voice calls and data services of the operators, saying despite this, they charged and bombarded them with unsolicited messages.
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Fintech Company, Grey, Unveils New Look to Support its Global Expansion Strategy
Grey, a leading cross-border fintech company, has embarked on a significant global brand rebranding initiative, revealing a fresh logo and website design.
This strategic move aligns with the company’s dynamic plans to expand its footprint in the global market.
The company’s transformation was unveiled on its social media platforms on Monday, November 27, 2023. Grey aims to leverage this fresh identity to reach a broader audience and solidify its international presence. The updated brand assets visually represent Grey’s commitment to innovation, excellence, and global connectivity.
The rebranding initiative follows closely on the heels of Grey celebrating a milestone achievement of surpassing 500,000 users. The company’s rapid growth and expanding user base have spurred this bold step towards rebranding, symbolizing success and underlining its dedication to remaining at the forefront of global fintech innovation. Furthermore, the previous logo was not usable in some foreign markets due to trademark conflicts with another company.
Idee Obong, The CEO and founder of Grey, shared insights into the rationale behind the rebranding, stating, “As we chart our course toward serving a global audience, we recognized the need for trademarks and related processes. We identified similarities with existing marks during this evaluation, prompting a deliberate rebrand. The new logo and website signify our forward trajectory, emphasizing global connectivity and our commitment to creating a more interconnected world. Our focus remains on being people-centric and cultivating a lasting community.”
Grey’s brand evolution is occurring at a crucial juncture for the fintech industry, which is positioned for significant opportunities despite recent economic uncertainties. The fintech sector has faced challenges in the past year; notwithstanding, Grey has rapidly scaled, adeptly responding to the heightened demand for its services.
The company has also established key partnerships across both B2B and B2C sectors across Africa over the past months, solidifying its reputation as a trusted and reliable cross-border payments company.
Femi Aghedo, Co-founder of Grey, emphasized the strategic timing of the brand evolution, stating, “The timing simply felt right to evolve our brand. Our growth and evolution as a business needed to be reflected tangibly. We are dedicated to ongoing innovation, adapting our services to meet the dynamic needs of our customers. Our core mission is to provide seamless and secure cross-border payment solutions, empowering businesses and individuals in the global economy. We eagerly anticipate the future of fintech and the opportunities it presents for us to impact the industry positively.”
Furthermore, customers can expect a more innovative and interconnected user experience when engaging on their platforms. As Grey ventures into this exciting new chapter, the team remains committed to providing cutting-edge and secure cross-border payment solutions, fostering global connectivity, and contributing to the evolving landscape of the fintech industry.
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