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Tech News

Anti-virus creator, John David McAfee charged for U.S tax evasion

McAfee was arrested in Spain and will be extradited to the US to face charges related to tax evasion.

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John David McAfee charged for U.S tax evasion

John David McAfee, founder of McAfee Associates has been charged with evading taxes and a failure to file tax returns.

He refused to make a report of the income made from his promotion of cryptocurrencies, his consulting work, speaking engagements, and selling the rights to his life story for a documentary. McAfee failed to pay tax returns runs from 2014-2018 even with the “considerable income” he received, the U.S. Justice Department said.

READ: Hedge funds, institutional investors rush to own stakes in Bitcoin

A June indictment was unsealed in federal court on Monday after McAfee’s arrest in Spain, pending his extradition from the United States.

The Securities and Exchange Commission (SEC) reportedly said that “McAfee leveraged his fame to make more than $23.1 million in undisclosed compensation” when he recommended several initial coin offerings to his Twitter.

(READ MORE:Spending strategies to help you live within your budget)

The cybersecurity mogul camouflaged cryptocurrencies he was paid to promote by companies issuing the offerings for recommendations of which he made over $23.1 million.

SEC is seeking to inflict civil charges against McAfee and a repayment of ill-gotten gains, with interest. They also forbid him from serving as an officer of any company that files reports to the agency.

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READ: Industry Group set to host a national dialogue on taxation and developing the non-oil sectors

Jimmy Gale Watson would also be charged for aiding the sale of the digital currencies and other claims.

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Business News

NCC signs MoU with NigCOMSAT for 5G services in Nigeria

The NCC announced that it has signed an MoU for the use of the C-Band Spectrum to boost 5G services in Nigeria with the NigComSat Ltd.

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Dear Nigerians, the 5G Network is not a conspiracy theory

The Nigerian Communications Commission announced that it has signed an MoU for the use of the C-Band Spectrum to boost 5G services in Nigeria with the Nigerian Communications Satellite Limited.

This was declared in a statement by the NCC on Tuesday.

What the NCC is saying

“In recent times, precisely from the last quarter of 2019, several administrations have begun to license Spectrum for commercial deployment of 5G. Today, 5G services have already been deployed in the United States of America, South Korea and many more countries

Telecommunication evolution from inception to date has led to improvement in user experience witnessed from 2G, 3G and later 4G. The global impact of 4G brought about increases in mobile usage and network performance.

5G will build on this momentum, bringing substantial network improvements, including higher connection speeds, mobility and capacity, as well as low-latency capabilities.

The NCC added that 5G will also provide massive machine-type communications, where a lot of devices will seamlessly connect and independently interact with the internet without human intervention.

5G’s full socio-economic impact is dependent on access to a variety of spectrum resources.” NCC Boss, Prof. Akande said.

What you should know

Broadband and Internet penetration has been gaining some steam lately in Nigerian telecoms circles as Nairametrics reported earlier this week that the Federal Government through the Federal Ministry of Communications and Digital Economy revealed a joint project between the FG and Microsoft for the development of high-speed internet infrastructure across the six regions in the country.

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Appointments

Airtel Nigeria announces appointment of Surendran as new Chief Executive Officer

Airtel Nigeria, has announced the appointment of Mr C. Surendran as the new MD/CEO with effect from August 1, 2021.

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Like MTN, is Airtel Nigeria considering listing?

Telecommunications giant, Airtel Nigeria, has announced the appointment of Mr C. Surendran as the new Managing Director and Chief Executive Officer with effect from August 1, 2021.

Surendran would be replacing the outgoing Managing Director and Chief Executive of Airtel Nigeria, Olusegun Ogunsanya, who has been elevated to the position of Chief Executive Officer of Airtel Africa Plc with effect from October 1, 2021.

According to a report from the News Agency of Nigeria, this disclosure is contained in a statement issued by Airtel on Wednesday, May 5, 2021, in Lagos.

READ: Airtel Africa signs new $500 million loan with Bank of America, HSBC, others

The statement says that Surendran would also be appointed to the Executive Committee (ExCo) as Regional Operating Director, reporting to the CEO of Airtel Africa plc, and onto the Board of Airtel Networks (Nigeria) Limited.

Airtel in its statement said, “Surendran has been with Bharti Airtel since 2003 and has contributed immensely in various roles across customer experience, sales and business operations.

He was the Chief Executive Officer of Karnataka, which is the largest circle in Airtel India, with over one billion dollars in revenue.

Surendran delivered an exceptional performance with significant movement in Revenue Market Share (RMS) over the last few years, currently at 54 percent. He has over 30 years of business experience, including 15 years at Xerox.’’

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Airtel said that Surendran would transition into his new role from June 1, 2021, and spend the time onboarding into the business until July 31, 2021.

READ: Meet the latest billionaires on the Nigerian Stock Exchange

In case you missed it

It can be recalled that a few days ago, Airtel Africa Plc, a leading provider of telecommunications and mobile money services in Nigeria and 13 other countries, announced the appointment of Mr Olusegun Ogunsanya as the new Chief Executive Officer, following the notice of retirement given by the current Managing Director/Chief Executive Officer, Raghunath Mandava, to the Board.

In the notification sent by Airtel Africa to the Nigerian Exchange, Ogunsanya is expected to join the board of Airtel Africa with effect from October 1, 2021.

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