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Kwara slashes RoW charges from N5,500 to N1 per km for telecoms

The reduction takes immediate effect and affects all local government areas in the state.

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Coronavirus: Kwara Govt shuts down schools, orders civil servants to work from home

Governor of Kwara of state, AbdulRahman AbdulRazaq has crashed the Right of Way (RoW) charges for telecommunications and broadband infrastructure firms from N5,500 to N1 per kilometre of fibre.

This is lowest charge in the country, second only to Kaduna state where Governor Nasir El Rufai declared zero charges.

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The reduction takes immediate effect and affects all local government areas in the state.

NAN reports that the Commissioner for Communication, Alhaji Murtala Olanrewaju issued a statement to this effect on Sunday.

According to Olanrewaju, up till now telecommunication firms in Kwara state were paying N5,500 per linear metre as the fee for laying fibre cables to strengthen their digital connections.

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He noted that the governor’s decision to reduce the charges is part of a larger strategy to deepen digital penetration in the state, improve the ease of doing business, and ease people’s access to the internet and other digital communication even in the remote parts of the state.

“Apart from driving up investment in the sector, the long-term effects of this significant step such as strengthening access to digital communications and bringing more businesses to the hinterlands cannot be quantified,” the commissioner said.

READ ALSO: Nigeria introduces new visa policy to attract professionals, more investments 

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What this means for Telcos

Telecommunication companies can now breathe a sigh of relief with this new development. Where they had paid N5.5 million to lay optic fibre in a 1000km distance, they will now pay as little as N1,000 for the same distance.

Besides promoting deeper internet penetration, this move might also cheapen data and voice call tariffs, as there have been studies to suggest that lesser Right of Way charges, translate into cheaper and better digital services.

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The National Economic Council (NEC) earlier this year resolved to improve digital penetration in line with the recommendations of a the International Telecommunications Union (ITU), that a 10 per cent broadband penetration in Africa would lead to a 2.5 per cent increment of Gross Domestic Product (GDP).

 

 

Patricia

Ruth Okwumbu has a MSc. and BSc. in Mass Communication from the University of Nigeria, Nsukka, and Delta state university respectively. Prior to her role as analyst at Nairametrics, she had a progressive six year writing career. As a Business Analyst with Narametrics, she focuses on profiles of top business executives, founders, startups and the drama surrounding their successes and challenges. You may contact her via [email protected]

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Hushpuppi conspired to steal £100 million from English Premier League club

Hushpuppi is accused of stealing $922,857 in October last year through another BEC scheme. 

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Hushpuppi conspired to steal £100 million from English Premier League club

A few days after he was extradited to the United States from Dubai, Ramon Olorunwa Abbas, a.k.a Hushpuppi, made his first court appearance where he was charged with accusations ranging from money laundering to participating in business email compromise (BEC) schemes targeting a US law firm, an English Premier League side, and a foreign bank.

In a report released by the U.S Attorney’s Office, Central District of California, Hushpuppi is accused of conspiring “to launder hundreds of millions of dollars from other fraudulent schemes and computer intrusions, including one scheme to steal £100 million (approximately $124 million) from an English Premier League soccer club.”

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As written in the affidavit report, “The FBI’s investigation has revealed that Abbas finances this opulent lifestyle through crime, and that he is one of the leaders of a transnational network that facilitates computer intrusions, fraudulent schemes (including BEC schemes), and money laundering, targeting victims around the world in schemes designed to steal hundreds of millions of dollars.”

READ ALSO: U.S. publishes names of 6 Nigerians charged with internet fraud against Americans

Jesse Baker, Special Agent in Charge of the United States Secret Service, Los Angles Field Office, described the hunt for Hushpuppi as “a challenging case, one that spanned international boundaries, traditional financial systems and the digital sphere,” and its success depended on partnerships between the Department of Justice and other federal law enforcement agents.

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Hushpuppi is accused of stealing $922,857 in October last year from a client of a New York-based law firm through another BEC scheme.

“Abbas and co-conspirators allegedly tricked one of the law firm’s paralegals into wiring money intended for the client’s real estate refinancing to a bank account that was controlled by Abbas and the co-conspirators,” the report stated.

READ AlSO: Caught in the buzz: The economics of Nigeria’s “Yahoo Yahoo”

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He is also accused of conspiracy to launder funds stolen in a $14.7 Million cyber-heist from a foreign financial services firm in February 2019. Hushpuppi allegedly provided the co-conspirators with 2 bank accounts in Europe, anticipating to receive €5 million each.

If he is found guilty of money laundering and other related crimes, he faces a statutory maximum sentence of 20 years in a federal prison.

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Explosions: Three fuel tankers up in flames on Lagos-Ibadan expressway

Two tankers went up in flames, affecting another tanker and a trailer.

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Corporate affairs commission (CAC) building on fire

Following the multiple explosions caused by the collision of fuel tankers at Kara bridge on Lagos-Ibadan expressway on Sunday morning, passengers and motorists have been stranded for hours.

It was gathered that two tankers ladened with petroleum products were involved in an accident in the early hours of today.

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The two tankers, which went up in flames, affected another tanker and a trailer.

While the men of the Federal Fire Service have started rescue operations, officials of the Federal Road Safety Corps have started controlling traffic which has affected movement inward Lagos.

In a statement issued, the FRSC Sector Commander, Lagos State Command, Olusegun Ogungbemide, advised motorists to seek alternative routes.

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“The FRSC is admonishing motorists who have reasons to use the road should seek an alternative, for now, to allow the personnel of Fire Service on the ground to extinguish the fire.

“Alternative routes recommended for those moving out of Lagos this morning can use the Victoria Island by Ajah to Ijebu Ode to continue their journey.

“The Lagos-Abeokuta Expressway to the Sagamu Interchange is another alternative that motorists can use at the moment,” Ogungbemide stated.

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Economy & Politics

UPDATED: FG declares June 12 public holiday

Federal Government has declared Friday, June 12, 2020, as a public holiday to celebrate 2020 Democracy Day.

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June 12 public holiday, COVID-19: President imposes lockdown on three states, Africa day 2020: Buhari urges economic groups, CSOs and private sectors to drive peace for economic development

Federal Government has declared Friday, June 12, 2020, as a public holiday to celebrate 2020 Democracy Day.

This was disclosed by the Personal Assistant to President Muhammadu Buhari on New Media, Bashir Ahmad, via his Twitter handle on Monday.

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Also, the Minister of Interior, Rauf Aregbesola, congratulated Nigerians for the entrenchment of democratic rule in the country.

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The minister also called on “Nigerians to continue to cherish the selfless efforts made to attain democracy”.

He reassured “Nigerians of the Federal Government’s commitment to battling the scourge of COVID-19 with the cooperation of all Nigerians”.

READ ALSO: Nigeria’s revenue burden to ease off as DPR announces bids for marginal oilfields

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He emphasised the need for all Nigerians to stay safe by observing physical and social distancing, personal and respiratory hygiene, as well as other regulations issued by relevant authorities.

He said, “All Nigerians should continue to cherish these selfless efforts and collaborate with the President Muhammadu Buhari-led Administration to ensure the realization of the democratic ideals which these Patriots fought for, even at the cost of their lives.”

The Minister who reassured Nigerians of the Federal Government’s commitment to battling the scourge of COVID-19 with the cooperation of all Nigerians, advised them further, to take responsibility for stopping the spread of the virus.

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READ ALSO: Presidency denies canceling memos, appointments approved by Abba Kyari

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