The Nigerian Communications Commission (NCC) has withdrawn its statement claiming that Starlink did not receive regulatory approval before hiking its subscription prices in Nigeria

The development comes a few hours after Reuben Muoka, the director of public affairs at NCC, said the commission was “surprised” when the company announced the price changes.

Although Muoka acknowledged that Starlink had filed a request with the NCC to adjust its prices, he said the regulator did not approve it.

“We were surprised that the company jumped the gun by announcing price changes after filing a request to the Commission seeking approval for price adjustment for which the Commission was yet to communicate a decision,” NCC had said earlier in a statement.

“The action of the company appears to be a contravention of Sections 108 and 111 of the Nigerian Communications Act (NCA) 2003, and Starlink’s Licence Conditions regarding tariffs.

“The Commission will, therefore, take appropriate enforcement measures against any action by a licensee that is capable of eroding the regulatory stability of the telecommunications industry.”

However, speaking in another statement, Muoka asked media houses to withdraw the commission’s previous statement on the matter.

“I wish to request that all who have received this press statement should ignore, as it was issued in error,” he said.

“Kindly withdraw it if it has been posted on your platforms.”

Telecommunications stakeholders have been clamouring for an upward tariff review to make the sector attractive to investors.

On April 25, telcos said their services were overdue for price increments as they have not raised rates in the last 11 years.

Access Holdings Plc says Access Bank, its flagship subsidiary, has secured a provisional licence from the Bank of Namibia to establish a commercial bank in the country.

Speaking in a statement on Monday, Sunday Ekwochi, the company’s secretary, said Access Bank’s operations in Namibia are expected to stimulate the local economy and strengthen its position as a leading regional player.

Commenting on the development, Roosevelt Ogbonna, managing director and chief executive officer (CEO) of Access Bank, described the move as a milestone in the bank’s efforts to promote intra-African trade.

“This expansion represents an important milestone towards establishing a railroad in Namibia for intra-African trade within the Southern African region, Africa, and the rest of the world,” Ogbonna said.

“It cements our commitment to building a robust Southern African banking network to deliver shared prosperity and advance financial inclusion thereby empowering many to achieve their dreams.”

Ogbonna said Access Bank’s entry into the Namibian market aligns with the institution’s broader goal of building a strong global franchise, opening new opportunities for businesses and individuals alike.

The CEO expressed the company’s eagerness to collaborate with local stakeholders to drive innovation, empower communities, and make a significant contribution to the region’s prosperity.

“We remain confident that our investments towards diversifying and strengthening the Bank’s long-term earnings profile will deliver significant value to our shareholders, customers, and wider stakeholder groups,” he added.

The bank also said in the coming months, it would work to fulfill the conditions required for the final licence approval and will keep the market informed.

Access Bank said with existing operations in Angola, Botswana, Mozambique, South Africa, and Zambia, it is positioned to offer stakeholders seamless access to diverse opportunities for expansion and collaboration across the region.

The federal government has launched a portal that would allow youths access to compressed natural gas (CNG) powered tricycles.

Ayodele Olawande, minister of state for youth development, spoke in Abuja on Monday.

The activation of the portal follows the successful launch of 2,000 CNG tricycles by the federal government on October 1.

Olawande said youths across the country could access the portal and sign up to be merged with aggregators or owners who work directly under the presidential CNG initiative (P-CNGi), while beginning the process of becoming owners themselves.

He said the aim is to enthrone a transparent process of enlisting young people into the presidential CNG initiative.

“By embracing CNG, we are building a cleaner environment for our nation,” Olawande said.

“We are also saving the nation in terms of the cost that is typically spent on subsidy for petrol and bankrupting the country for so long now.”

He called on the youths operating in the commercial transportation sector or those interested in joining the sector to enlist to benefit from the initiative.

To access the portal, the minister said there are two websites namely — www.youthcng.ng and www.bci.gov.ng/tricycles — with instructions and procedures on getting enlisted.

‘NYIF TO PROVIDE FINANCIAL SUPPORT TO YOUTH ENTREPRENEURS’

Olawande said the national youth investment fund (NYIF), with an initial capital of N110 billion, was designed to provide financial support to youth entrepreneurs and start-ups.

“Others are the student loans to give every willing Nigerian youth the chance to access quality education without financial worries,” he said.

“The Nigerian Youth Academy (NiYA) was set up as a platform to teach the relevant skills that would propel the active participation of youth in the business sector and the job market.”

On his part, Muhammad Hassan, the national president of the National Commercial Tricycle and Motorcycle Owners and Riders Association, said the association is committed to not just mobilising members but also achieving the mandate of the project.

“We will also ensure that members not only use the tricycles properly but that they pay back as soon as possible,’’ Hassan said.

In his remarks, Michael Oluwagbemi, project director and chief executive officer (CEO) of the P-CNGi said the initiative would enhance the economic well-being of Nigerians by reducing dependence on petrol.

Oluwagbemi, who was represented by Tosin Coker, head of commercial at P-CNGi, said the CNG initiative would reduce the cost of transportation for Nigerians.

The project director also said the project will enable youths to have the opportunity to be gainfully employed.