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Tag: NCC

  • NCC releases guide to guard against Petya ransomware

    After Petya ransomware paralyzed connected systems worldwide, the Nigerian Communications Commission (NCC) has released a guide to ward off the menace in Nigeria.

    Although the country is yet to report any case of the Petya ransomware attack, the NCC is saying individuals and organisations should take necessary precautions because the spread of Petya indicates many may still be vulnerable.

    The telecoms regulator says the new ransomware that it likened to WannaCry is spreading around the globe speedily, and stressed Petya “…has a better mechanism for spreading itself than WannaCry”.

    “The malicious software spreads rapidly across an organization once a computer is infected using the Eternal Blue vulnerability in Microsoft Windows. Like WannaCry, Petya ransomware takes over the computers and demands $300 paid in Bitcoin,” said NCC.

    NCC stated three mechanisms by which Petya spreads to additional hosts to include:

    • Petya scans the local system 24/7 to discover enumerate ADMINS shares on other systems, then copies itself to those hosts and executes the malware using PSEXEC. This is only possible if the infected user has the rights to write files and execute them on system hosting the share.
    • Petya uses the Windows Management Instrumentation Command-line (WMIC) tool to connect to hosts on the local subnet and attempts to execute itself remotely on those hosts. It can use Mimikatz to extract credentials from the infected system and use them to execute itself on the targeted host.
    • Petya finally attempts to use the ETERNALBLUE exploit tool against hosts on the local subnet. This will only be successful if the targeted host does not have the MS17-010 patches deployed.

    “The general public is advised not to panic as demonstrated during the WannaCry attacks in May, 2017. Windows systems should be patched for this vulnerability by competent personnel,” NCC stated.

    The Commission advised both individuals and organizations to note and observe the following to guide against the ransomware:

    • Do not click on any suspicious or unknown links.
    • Protect yourself when using public Wi-Fi.
    • Do not visit unsafe and unreliable sites.
    • Avoid clicking on links that leads to websites such as Facebook, Instagram, WhatsApp etc. Instead it is much safer to visit the site directly through their URL.
    • If you receive a message or email with an attachment, try to verify authenticity of the sender before opening.
    • Do not open attachments from suspicious senders.
    • Store all your documents in ‘my document folder’.
    • Keep your files backed up regularly.

     

  • Etisalat Group willingness to release brand name conditional

    United Arab Emirates-based Emirates Telecommunications Group Company (Etisalat Group) might be unwilling to release the Etisalat brand to the consortium of banks, except the banks are prepared to fulfill certain conditions.

    Emerging Markets Telecommunication Services Limited (EMTS), operating as Etisalat Nigeria, is using the brand name after a contractual agreement with the UAE-based telecoms giant, TheNewsGuru findings reveal.

    TheNewsGuru reports Etisalat Group released the brand name to EMTS to operate in Nigeria after securing 45% and 25% ordinary and preference shares respectively. Etisalat Group is holding the shares in Etisalat Nigeria through EMTS Holding BV established in the Netherlands.

    After Etisalat Nigeria defaulted on a loan facility agreement with a consortium of Nigerian banks, the Security Trustee of the banks issued a Default and Security Enforcement Notice requesting EMTS Holding BV — established in the Netherlands, and through which Etisalat Group holds its interest in Etisalat Nigeria — to relinquish 100% of its shares.

    This is after subsequent discussions between Etisalat Nigeria and the lender banks failed to produce an agreement on restructuring the loan agreement.

    Etisalat Nigeria had obtained the $1.2 billion (N377.4 billion) loan in 2013 from the consortium of banks to finance a major network rehabilitation, upgrade and expansion of its operational base. The firm said last week it had paid about half (about N504 billion) of the initial loan leaving a total outstanding sum of about $574 million.

    Etisalat Group is saying the 45% ordinary and 25% preference shares it is having in EMTS Holding BV that permits it to operate as Etisalat Nigeria has a quantity of no importance.

    “The carrying value of these shares in Etisalat Group’s books is nil,” according to a letter signed by Etisalat Group Chief Financial Officer, Serkan Okandan, addressed to the Abu Dhabi Securities Exchange, and made available to TheNewsGuru.

    “The remaining financial exposure from the Company is related to operational services (such as international roaming) provided by Etisalat Group to EMTS, and management and technical and IP related agreements,” it added.

    Etisalat Group did not however overtly state in the letter that it had transferred 100% of its shares in Etisalat Nigeria to United Capital Trustees Limited, the Security Trustee of the banks, but it did confirmed the lenders extended the deadline from 9 June 2017 to 23 June 2017 5:00 pm Lagos time.

    Etisalat Group said the operational services, such as the international roaming, provided to EMTS, and the management and technical and IP related agreements is limited to an amount of AED 191 million (about N16.3 billion) as of March 31 2017, stressing this is the subject of ongoing discussions with EMTS and the EMTS lenders.

    “Should there be any material developments on this subject, a further announcement would be made in accordance with applicable Securities and Exchange rules and regulations,” the letter concluded.

    Meanwhile, the Nigerian Communications Commission (NCC), in a statement by its Director of Public Affairs, Tony Ojobo, has said “The grant of a license shall be personal to the licensee and the license shall not be operated by, assigned, sub licensed or transferred to another party unless the prior written approval of the commission has been granted;” quoting Section 38 and Sub-section 1 of the Nigerian Communications Act (NCA) 2003.

    According to the NCC, Sub Section 2 of the same provision equally states that, “A licensee shall at all times comply by the terms and condition of the license and the provision of this act and its subsidiary legislation”.

    >>Also read: $1.2bn loan: Banks refute takeover of Etisalat Nigeria

    The consortium of banks include Access Bank, Zenith Bank Plc, Guaranty Trust Bank Plc, First Bank Limited, Fidelity Bank Plc, First City Monument Bank (FCMB), Stanbic IBTC, Ecobank, United Bank for Africa (UBA) Plc and Union Bank of Nigeria Plc.

    Zenith Bank, Guaranty Trust Bank and Access Bank have the top three exposures of the total loan – N80 billion, N42 billion and N40 billion respectively.

    Whatever becomes of EMTS’s Etisalat Nigeria, the NCC has assured and reassured the over 21 million Etisalat subscribers that it will do all within its regulatory power to ensure that Etisalat subscribers continue to enjoy the services provided by the operator.

    >>Trending: Etisalat debt predicament: 13 Banks’ shareholders mount huge pressure

     

  • MTN Nigeria to go ahead with IPO this year

    Subject to market conditions, South Africa’s telecoms firm, MTN Group will go ahead with its Initial Public Offering (IPO) listing its Nigerian subsidiary, MTN Nigeria in the Nigerian Stock Exchange (NSE) this year.

    Bloomberg had previously reported the Executive Chairman of MTN Group, Phuthuma Nhleko, as saying the company may delay the planned listing until 2018 in order to resolve a regulatory dispute, but a recent PricewaterhouseCoopers (PwC) report indicates the IPO plan might work out this year.

    While MTN operates in 22 countries in Africa and the Middle East with more than 200 million users, MTN Nigeria is the Group’s largest and most profitable subsidiary. It is the market leader in fixed and mobile broadband sectors with over 60 million users.

    The firm is battling with a fine of $5.2 billion that was reduced to N330 billion.

    After the fine was announced in 2015, MTN shares lost its value in Johannesburg, and analysts have said the decision of MTN to list in the NSE was part of agreement the company reached with the Federal Government as a condition for slashing the fine imposed on it by the Nigeria Communications Commission (NCC).

    But Nhleko stated at an annual meeting of the World Economic Forum in Davos, Switzerland that the firm has ever wanted to list in the NSE.

    “We’ve always intended to list – we have reaffirmed that with the government. Clearly, we can only list when the conditions are conducive,” he said.

    >>Trending: MTN pulls out of Who Wants to be a Millionaire TV show

    TheNewsGuru recalls the fine was imposed on MTN after it was found to have breached the ‘know-your-customer’ rules set by the NCC, and Dino Melaye, the Senator representing Kogi West, had accused the mobile operator of illegally repatriating $14 billion out of Nigeria over ten years.

    The PwC report said Nigeria’s economy slowed sharply in 2015 and 2016, primarily due to global fall in crude oil prices but is forecast to return to slow growth in 2017; and Telecoms operators in Nigeria have been under pressure to list on the exchange to widen equity ownership and tame what many consider as undue profit repatriation that is detrimental to the Nigerian economy.

    Recently, MTN paid N19 billion ($60 million) for a 2.6 GHz licence auctioned by the NCC in June 2016. It was the only company, which secured approval to take part in the auction. MTN will use the frequencies to expand its LTE network in Nigeria.

    MTN, if listed, would become the first major national telecoms company whose shares would be traded on the NSE.

     

     

  • Nigeria to rake in $4.4b Internet access revenue

    PricewaterhouseCoopers (PwC) has projected that Internet access revenues in Nigeria will rise by a Compound Annual Growth Rate (CAGR) of 16.2% to reach $4.4 billion in 2021.

    This is contained in PwC Global Entertainment and Media Outlook 2017-2021 report.

    The report disclosed that mobile Internet revenues will increase by a CAGR of 16.8 per cent amounting to $4.3 billion, accounting for 96.6% of total Internet access revenues in the time frame under review.

    According to the PwC report, while Nigeria will be the world’s fastest-growing Entertainment & Media (E&M) market over period under review, the slowest-growing will be Japan, growing at a 1.7% CAGR.

    Consumers in mature markets such as North America, and Europe, and wealthier Asia-Pacific markets spend a lot more than $500 per capita annually on entertainment and media; growth rates are relatively slow in these areas.

    In contrast, less developed economies feature much lower per capita spending and faster growth albeit from a very low base less than $50 a year in many cases.

    The Global Entertainment and Media Outlook 2017-2021 document also revealed that mobile Internet subscriptions will increase to 85.1 million over the forecast period, a penetration rate of 40.1 per cent. The penetration of mobile Internet connections on high-speed services will rise by 29.6 percentage points to nearly 35 per cent in 2021.

    Fixed broadband is not widely available and where it is, the cost is often prohibitive. The majority of subscriptions are via fixed-wireless networks, with LTE-based services replacing WiMAX as the leading fixed-wireless technology. Fixed broadband penetration is very low and will rise from 2.2 per cent in 2016 to 3.3 per cent in 2021 with 89.3 per cent of subscriptions on low-speed services at the end of 2021.

    Recall that in September 2016, and recently, the Nigerian Communications Commission (NCC) announced it would begin a process to select 5 infrastructure companies (infracos) to build and operate open-access fibre broadband networks in five zones.

    This process, the telecoms regulator says will begin in July; and the project will be funded by government subsidies.

    The first two concessions for Lagos State (MainOne) and the North Central Zone (IConnect, a subsidiary of IHS) were awarded in January 2015. The new 5 infracos to be licensed would be for the North-East, North-West, South-South, South-East and South-West zones of the country.

    The NCC first published a consultation paper on the open-access network in November 2013.

     

  • NCC to Etisalat subscribers, takeover will not affect network’s integrity

    Despite moves by a consortium of banks to takeover Etisalat, the Nigerian Communications Commission (NCC) has come out stoutly to assure subscribers that Etisalat’s network’s integrity would not be compromised.

    The NCC in a statement on Wednesday signed by the Director, Public Affairs of NCC, Mr Tony Ojobo, in Lagos said that the regulatory body was aware of the indebtedness of Etisalat to the consortium and the planned takeover by the consortium of banks.

    The NCC, he said, has been working in conjunction with the Central Bank of Nigeria (CBN), to mediate in the imbroglio by holding several meetings with the banks, Etisalat and other stakeholders to find a solution.

    “Regrettably, these meetings did not yield the desired results,” he said.

    “The NCC wishes to reassure about 21 million Etisalat subscribers that it will do all within its regulatory power to ensure that Etisalat subscribers continue to enjoy the services provided by the operator.

    “The commission has taken proactive steps to cushion the impact of the takeover; this is without prejudice to the ongoing effort between Etisalat and the banks toward a negotiated settlement.

    “NCC wishes to reassure all stakeholders in the telecommunications sector, in particular the subscribers on the Etisalat network, that it will ensure that the integrity of the network is not compromised.’’

    The statement said the commission had drawn the attention of the banks to provisions of the Nigerian Communications Act (NCA) 2003 Section 38: Sub-sections 1 and 2.

    “Sub-section 1 says: the grant of a license shall be personal to the licensee.

    “The license shall not be operated by, assigned, sub-licensed or transferred to another party unless the prior written approval of the commission has been granted;

    “Sub-section 2 says: A licensee shall at all times comply by the terms and condition of the licence and the provision of this act and its subsidiary legislation,’’ it said.

    Mr Ojobo said that while the banks and Etisalat were working at resolving the issues, the commission assured that subscribers would continue to enjoy the services provided by the telecommunications company.

    TheNewsGuru.com recalls that in March, a consortium of 13 banks, both foreign and Nigerian, had wanted to take over the operations of Etisalat over a loan facility totalling 1.2 billion dollars, obtained in 2015.

    The banks said their attempt to recover the loan was due to the pressure from the Asset Management Company of Nigeria (AMCON), demanding immediate cut down on the rate of non-performing loans.

    The NCC and CBN waded into the matter to ensure an amicable resolution of the issue.

    However, after three months of fruitless deliberations, the consortium of banks is finally taking over the telecommunications company.

    You can also read:

    http://thenewsguru.ng/cbn-ncc-wade-etisalat-debt-crisis-meet-today/

  • Etisalat saga: NCC reveals legal implication, assures of network integrity

    The Nigerian Communications Commission (NCC) has revealed the legal implications of the takeover of Etisalat Nigeria by a consortium of banks while assuring subscribers of telecoms service provider of continuous quality service.

    This is coming on the heels of the change in the ownership structure of Etisalat Nigeria.

    The company had on Tuesday announced the divestment of part of its shares following its inability to meet up with the payment of a loan it took from the consortium of local and international banks, which amounted to N541 billion.

    In this wise, after the loan restructuring talks failed, the company had to cede a substantial part of its shares to the consortium of banks, led by Access Bank Plc.

    Following this development, there had been fears about a possible nosedive in the quality of service rendered by Etisalat Nigeria, which is regarded as one of the best service providers in the country.

    The NCC, in a statement by its Director of Public Affairs, Tony Ojobo, however, said it would continue to monitor Etisalat for the delivery of quality service.

    He drew the attention of the lender banks to Section 38 and Sub-section 1 of the Nigerian Communications Act (NCA) 2003 which spells out that, “The grant of a license shall be personal to the licensee and the license shall not be operated by, assigned, sub licensed or transferred to another party unless the prior written approval of the commission has been granted;”

    Ojobo, said that the lenders banks must take note of relevant provision of the NCA 2003 as well as relevant provisions of the laws guiding the transfer of licences issued operators by the telecoms regulator.

    According to the NCC, Sub Section 2 of the same provision equally states that, “A licensee shall at all times comply by the terms and condition of the license and the provision of this act and its subsidiary legislation”.

    Ojobo, who said that NCC is aware of the indebtedness of Etisalat Nigeria to the consortium of banks says that the telecoms regulator and its banking counterpart, the Central Bank of Nigeria (CBN), “mediated by holding several meetings with the banks, Etisalat and other stakeholders with a view to finding a resolution”.

    Despite the efforts of the two industry regulators of Federal Government, “regrettably these meetings did not yield the desired results”.

    “The NCC wishes to reassure the over 21 million Etisalat subscribers that it will do all within its regulatory power to ensure that Etisalat subscribers continue to enjoy the services provided by the operator,” the telecoms regulator stated.

     

  • CBN, NCC wade into Etisalat debt crisis, to meet today

    CBN, NCC wade into Etisalat debt crisis, to meet today

    Following a take over of Etisalat Nigeria by a consortium of banks over its indebtedness, the Central Bank of Nigeria (CBN) and Nigerian Communications Commission (NCC) will on Wednesday (today) meet the management of Etisalat and the banks.

    The essence of the meeting is to find a resolution to the debt crisis troubling the telecoms company.

    Reuters quoted an official of Etisalat Nigeria as saying that discussions with the group of Nigerian commercial lenders are ongoing to find a “non-disruptive” solution to the debt.

    The source further said that several meetings were ongoing at the NCC and the CBN after talks between about 10 Nigerian banks and Etisalat Nigeria broke down.

    He also confirmed that part of the $1.2billion bank credit obtained by Etisalat Nigeria has been paid back since 2013 when the loans were first structured.

    The parties are also expected to issue a joint statement after the meeting later today.

    TheNewsGuru.com reports that on Tuesday, the Etisalat Group, the parent company of Etisalat Nigeria, informed the Abu Dhabi Securities Exchange that a group of Nigerian commercial banks refused to agree to the restructuring of the debt (which amounts to 541 billion naira) owed by the company.

  • NCC assures of data availability, advances talks on licensing more Infracos

    Tony Ojobo, Director Public Affairs at the Nigerian Communications Commission, NCC, has said the significance of data availability through robust broadband is a key resource to the building of a digital economy.

    Ojobo declared in a keynote address he delivered extemporaneously at a critical segment of the just concluded Digital PayExpo in Lagos tagged Data Fiesta.

    Data Fiesta, came up for the first time at the 17-year old event to demonstrate the importance of data and broadband infrastructure in the implementation of an impeccable payment systems in the country.

    Accordingly, Ojobo took the stage to engage the audience, giving anecdotal evidence of the value of data so notable in massive sales by Nigerian-based online malls such as Yudala, Jumia, Konga and among others.

    He noted that the huge online banking transactions that have reduced physical traffic to the banking halls, and the amazing innovations and creativity bolstered by access to data and the Internet are proofs of what is possible with good broadband and also speaks to greater opportunities in the future which are already seen in many start-ups businesses.

    “This explains why NCC is opening up new and additional spectrum bands as data needs are growing in order to increase availability of data,” Ojobo told the audience.

    He recalled the auction of frequencies in the 2.3GHz, 2.6GHz, the re-planning of the 800MHz for LTE services, the re-farming of older frequencies held by operators in the sector – all of which are earmarked for data – as concrete steps taken by the NCC to ensure availability of data.

    He added that there are also measurable derivable benefits for the data segment in the NCC’s technology neutrality stance.

    Ojobo said all these are proofs of NCC’s mindfulness of the centrality of data for economic growth and development.

    The NCC Director of Public Affairs also reminded the audience of the licensing of two infrastructure companies (Infracos) two years ago and stated that the action was designed to push the deployment of backbone fibre across the country, and informed the audience that NCC has instituted processes for the licensing of additional five Infracos for the same purpose and to strengthen the wireless technology resources available in the telecom sector.

    Ojobo told the audience that the Commission is also engaging every stakeholder to secure required collaboration in all its activities.

    He recalled the visits of Management of the Commission to some State Governors to ensure that operators are given necessary permits to deploy infrastructure in the States, and he said these efforts have yielded good results most recently in Ogun and Kano States.

    Ojobo also told the audience that NCC will continue to liaise with the National Assembly and other relevant institutions of government to ensure that the Bill on the Protection of Critical National Infrastructure is passed speedily to check the recurring vandalism and theft of telecom infrastructure and equipment because of the attendant disruptions the damage and theft of equipment impose on the quality of service.

     

  • Consortium of banks takes over Etisalat Nigeria

    After talks of Etisalat Nigeria debt restructuring plan reached stalemate, a consortium of banks will effective June 23 take over the business of Etisalat Nigeria.

    The parent company of Etisalat Nigeria, Etisalat Group, announced the takeover on Tuesday in a filing to the Abu Dhabi Securities Exchange in Abu Dhabi, United Arab Emirate.

    The filing, with reference number Ho/GCFO/152/85, and dated June 20, 2017 signed by Etisalat Group Chief Financial Officber, Serkan Okandan, said efforts by EMTS to restructure the repayment of the syndicated loan by a consortium of banks to Etisalat Nigeria collapsed.

    “Further to our announcement dated 12 February, 2017, Emirates Telecommunications Group Company PJSC, “Etisalat Group” would like to inform you that Emerging Markets Telecommunications Services Limited “EMTS” (“the company), established in Nigeria and an associate of Etisalat Group with effective ownership of 45% and 25% ordinary and preference shares respectively, defaulted on a facility agreement with a syndicate of Nigerian banks (“EMTS Lenders”).

    “Subsequently, discussions between EMTS and the EMTS Lenders did not produce an agreement on a debt restructuring plan.

    “Accordingly, the Company received a default and security Enforcement Notice on 9 June 2017 requesting EMTS Holding BV (EMTS BV) established in the Netherlands, and through which Etisalat Group holds its interest in the company) requiring EMTS BV to transfer 100% of its shares in the company to the United Capital Trustees Limited (the Security Trustee”) of the EMTS Lenders by 15 June 2017.

    “Subsequently the EMTS Lenders extended the deadline for the share transfer to 5.00 pm Lagos time on 23 June 2017,” the filing said.

    Etisalat has been under pressure since 2016, following the demand notice for the recovery of a $1.72 billion (about N541.8 billion) loan facility it obtained from the consortium of banks, led by Access Bank PLC and other Nigerian and foreign banks, in 2015.

    The loan, which involved a foreign-backed guaranty bond, was for the mobile telephone operator to finance a major network rehabilitation and expansion of its operational base in Nigeria.

    Unable to meet its debt servicing obligations agreed since 2016, the consortium, prodded by their foreign partners, threatened to take over the company and its assets across the country.

    But the intervention of the telecom sector regulator, Nigerian Communications Commission, NCC, and its financial sector counterpart, the Central Bank of Nigeria, CBN, persuaded the banks to rethink their threat and give Etisalat a chance to renegotiate the loan’s repayment schedule.

    However, EMTS Holding BV, established in the Netherlands, has up to June 23 to complete the transfer of 100 percent of the company’s shares in Etisalat to the United Capital Trustees Limited, the legal representative of the consortium of banks.

     

     

     

    Source: Premium Times

     

  • Amaechi wants social media quelled, NCC says platform won’t be stifled

    Nigeria’s Minister of Transportation, Rotimi Amaechi has raised alarm saying if care is not taken, social media will destroy his country.

    He was speaking at the maiden annual lecture of CKN News that held in Lagos when he made the comment in defense of allegations published of him acquiring property worth millions of naira.

    “When it was published that I own a property worth N50 million, I just waved it aside that the news won’t go anywhere,” the transport Minister said.

    Amaechi said the first time he was attacked, he came out with documents, which were not verified by social media publishers. He said people claiming that he owned the controversial $43 million Ikoyi fund were peddlers of false information.

    “When they said that I owned $43 million Ikoyi money, I made just a one-page reply,” the Minister said, adding: “I don’t even own a house in Lagos”.

    “The social media misinform the public, they don’t verify their information, they have no rules and they can publish anything. It is a tool that politicians use to damage the reputation of another politician.

    “Social media can destroy this country… Just look at Biafra; and that’s why Nnamdi Kanu can say all he is saying and still get a forum,” he further stated.

     

    Meanwhile, at the event, the Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC) had in the keynote address stated that social media is a platform for the exchange of information and for participation in political and socio-economic discourse.

    The NCC EVC, Prof. Umar Danbatta said that the Commission adopts technology-neutrality regime in its role, and that the regulatory body will not regulate social media use.

    “We nevertheless use our moral authority to request that Nigerians take advantage of the social media platforms to exchange information and participate in the political, social and economic processes of our country in ways that promote peace and enable us to build a more united and prosperous nation,” the NCC boss besought.

    However, Amaechi concurred that “feedback the social media platform provides helps to check the inefficiency of the government”.

    He believes the social media will play an important role in the 2019 general elections.

    NCC Director of Public Affairs, Tony Ojobo, who represented the EVC at the event, however, restated that the Cybercrimes Act 2015 defines offences for frivolous and inhuman posts on social media, and stressed it also stipulates punishments for breaches.

    The CKN News 2017 lecture was themed: “The Role of the Social Media in Socio-Economic and Political Development of Nigeria”.

     

    Also read: Be mindful of the law, Danbatta urges Social Media users