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Tizeti & Facebook partner to expand express Wi-Fi by Facebook in Nigeria

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Tizeti today announced a partnership to expand Express Wi-Fi by Facebook in Nigeria, with plans to roll out hundreds of hotspots over the coming months. Announced at AfricaCom 2017, this initiative supports Facebook’s and Tizeti’s shared goal of connecting more people to the internet in a cost-efficient way.

A fast and affordable public wi-fi hotspot service, Express Wi-Fi in Nigeria is focused in areas where people gather and work, including markets, cafes and public outdoor spaces. Using affordable internet through Tizeti’s wi-fi technology, anyone with a wi-fi capable device and the ability to receive a one-time SMS will be able to use Express Wi-Fi without switching SIM cards or having a data plan. People can connect through Express Wi-Fi on most Android and iOS phones, tablets, and laptops.

Commenting on the announcement, Kendall Ananyi, CEO of Tizeti, said: “We look forward to launching this partnership with Express Wi-Fi which allows us to continue our mission to bring affordable and reliable internet to more Nigerians.”



“Express Wi-Fi aims to reduce barriers to connectivity such as limited infrastructure and high data costs, giving more people, such as small business entrepreneurs and developers, the opportunity to connect and build community,” said Uche Ofodile, Regional Head of Africa, Express Wi-Fi by Facebook. “We’re excited to partner with Tizeti to expand access in Nigeria and roll out hotspots in the coming months.”



Our Express Wi-fi plans are affordable and range from N50 for 100MB to N2,000 for 10GB.

In addition, anyone connected to an Express Wi-Fi hotspot can access Facebook Flex and Free Basics, which offers people access to impactful local services, including health resources, education and business tools and more.

Express Wi-Fi is currently available in five countries—Nigeria, Kenya, Tanzania, India, and Indonesia.

About Tizeti

Tizeti Network Limited is a fast growing Wireless Internet service provider in Lagos, Nigeria, delivering high-speed unlimited wi-fi Internet access to residential and business customers. Founded in 2012, the Company has established wi-fi networks all over Lagos. The Company was the first ISP to deliver unlimited internet using wide area wi-fi in Nigeria and is now offering its services all over Lagos and the South.

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Christopher B. Pemu has a degree in Political Science from the University of Lagos. He joined Nairametrics in 2014 as News Editor and later as Managing Editor. He currently serves as the General Manager of Nairametrics. He takes pleasure in traveling, enjoys world politics and in sport, he loves watching football and tennis.

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Companies

GMD, 2 Executive Directors buy 5 million additional units of Zenith Bank Plc shares

In three separate transactions, major stakeholders purchased 5 million units of Zenith Bank’s shares.

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Executive Director buys 2 million additional Units of Zenith Bank Plc Shares.

Zenith Bank Plc, Group Managing Director, Mr Ebenezer Onyeagwu, and two Executive Directors, Messrs. Dennis Olisa and Ahmed Umar Shuaib, have purchased an aggregate of 5 million units of additional Zenith Bank Plc shares.

This was disclosed by the bank, in a notification sent to the Nigerian Stock Exchange, and seen by Nairametrics.

According to the notification, signed by the Company’s secretary, Michael Osilama Otu, the purchase was made in the bourse, over three transactions on the 16th and 17th of September, 2020.

As part of the regulatory requirements, the disclosure must be reported to the Nigerian Stock Exchange, especially when the trade is executed by a major shareholder or director of a listed firm.

Breakdown of the deal

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According to the details of the deal verified by Nairametrics, Mr. Dennis Olisa pulled the highest deal as he purchased 2,000,000 additional units of Zenith Bank Plc’s shares at an average of N17.18 per unit, totaling N34.36 million. Mr. Ahmed Umar Shuaib also purchased 2,000,000 additional units of the Bank’s share, at an average price of N16.99 worth N33.98 million. Completing the trio was, Mr. Ebenezer Onyeagwu who purchased 1,000,000 additional units at an average of N17.05 worth N17.05 million.

This major purchase boosted the total number of trade deals (Volume) posted by the Bank in the NSE market, as the deals contributed about 11.61% of the Bank’s total deals between 16th and 17th of September, 2020.

(READ MORE: Zenith Bank rewards customers with massive giveaways in the “Zenith Beta Life” weekly promo)

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What this means

Based on the recently released H1 2020 Financial Results of Zenith Bank, Mr. Ebenezer Onyeagwu had 45,500,000 direct shares as of June 30, 2020. Mr. Ahmed Umar Shuaib had 7,577,343 direct shares, while Mr. Dennis Olisa had 7,122,316 direct shares. All these remained unchanged from their reported shares in H1 2019.

With the addition of 1,000,000 shares, Mr. Ebenezer Onyeagwu’s stake increased to 46,500,000, indicating an increase of 2.19%. Mr. Ahmed Shuaib’s shares also leaped by 26.39% to 9,577,343, while Mr. Deniss Olisa’s shares increased by 28.08% to 9,122,316 direct shares.

This deal may signify that the Bank’s insiders expect an increase in share price. It is a positive signal to outsiders, coming from top insiders who are abreast with latest information on the Bank’s prospects.

This can play a vital role in stimulating a bullish trend. Zenith Bank’s share price is currently trading at N16.70 on the NSE.

Conclusion

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Regardless of the impact of the pandemic on the income and revenue of banks, Zenith bank still remained one of the high-flying financial organizations in Nigeria. For example, the tier-1 bank’s gross earnings grew by 4.37% from N331.5 billion in H1 2019 to N346.1 billion in H1, 2020. Its Profit After Tax increased by 16.81% from N111.7 billion to N114.1 billion within the period under review. The aforementioned factors might have been the reason behind the recent bullish trend for its stock.

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Business

FG apologizes, says Self-Certification directive is not for everyone

The Federal Government has made clarifications concerning earlier announced Self-Certification Forms.

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FG apologizes, says Self-Certification directive is not for everyone, FIRS introduces stamp duty on house rent and C of O transactions

The Nigerian government has backtracked on its earlier issued guidelines on the new banking Self-Certification Forms, saying the notice does not apply to everyone.

On Thursday, the Nigerian government ordered all persons holding accounts across financial institutions and insurance firms, to complete and submit self-certification forms to their respective financial institutions.

Explore the Nairametrics Research Website for Economic and Financial Data

It stated, “This is to notify the general public that all account holders in Financial Institutions (Banks, Insurance Companies, etc.) are required to obtain, complete, and submit Self – Certification Forms to their respective Financial Institutions. Persons holding accounts in different financial institutions are required to complete & submit the form to each one of the institutions. The forms are required by the relevant financial institutions to carry out due diligence procedures, in line with the Income Tax Regulations 2019.”

However, on Friday morning, after receiving expected backlash on social media, FG attempted a clarification stating, “We apologize for the misleading tweets (now deleted) that went up yesterday, regarding the completion of self-certification forms by Reportable Persons,” and that, “the FIRS will clarify Nigerians on the objectives of the directive.”

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READ: CBN automates trading system, introduces electronic form to facilitate exports 

The FIRS earlier today made a statement, that the guidelines are only for non-residents, and people paying tax in more than one country.

READ: Tax implication of IFRS adoption in Nigeria: key issues

“The Self Certification Form is basically to be administered on Reportable persons, holding accounts in Financial institutions, that are regarded as “Reportable Financial Institutions” under the CRS. Reportable persons are often non-residents and other persons, who have residence for tax purposes in more than one jurisdiction or Country.”

“The information that indicates an account holder is a resident for tax purposes in more than one jurisdiction, is expected to be available to Financial Institutions during account opening processes, for the KYC and AML purpose.” the statement read.

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Business

This is a copy of the Self-Certification form govt. wants targeted account holders to fill

The FIRS posted a copy of the self-certification form on its website.

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This is a copy of the Self-Certification form govt. wants targeted account holders to fill, President Muhammadu Buhari's full speech at China-Africa Extraordinary Summit on June 17, 2020

The Nigerian government on Thursday tweeted an order to all persons holding accounts across financial institutions and insurance firms to complete and submit Self-certification forms.

This was announced by the Federal Government in a social media statement on Thursday. The FG warned that failure to comply may include a monetary penalty or inability to operate the account.

READ: FG to save N1 trillion annually from petrol subsidy removal

The Government also urged Nigerians to comply with the requirements and execute all forms needs, if not sanctions may be introduced in the forms of monetary penalty or inability to operate the account.

The government however deleted the tweet on Friday, explaining that it does not apply to everybody, contrary to what it had earlier tweeted. The FIRS claims those affected are non-residents.

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READ: Despite billions on agriculture, food inflation up by 108% since 2015

Nairametrics has seen a copy of the “Self-Certification Forms” detailing the information that account holders are meant to share. See below;

NB: This article has been updated to reflect new information regarding who the accounts holders (reportable persons) are.

READ: UK to impose visa ban, seize assets of Nigerians for electoral offences

Download (PDF, 839KB)

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