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CBN Grants Telecom Companies Banking License
The Central Bank of Nigeria (CBN) has granted telecommunication companies MTN and Airtel Payment Service Bank (PSB) licenses, according to separate statements by the leading companies. Airtel will now be vying for a share of the financial market through its subsidiary, SMARTCASH Payment Service Bank Limited (Smartcash), while MTN will conduct its PSB business via…
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In Five Years, Nigeria Attracted $3.9bn Telecoms Investments
According to a new report by Agusto & Co., Nigeria’s telecommunications industry attracted $3.9 billion in foreign portfolio and direct investments between 2015 and 2020. The credit rating agency, in its 2021 Telecommunications Industry report, said, “Between 2015 and 2020, foreign investments (portfolio and direct) attributable to the telecommunications industry amounted to $3.9bn, an average…
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’25m Nigerians Unconnected To Telecoms Services’
The Nigerian Communications Commission has said 25 million, out of the 200 million Nigerians, are still not connected to telecoms services. This is coming about 20 years after the liberalisation of the telecoms sector. The NCC said it has brought down the figure of underserved and unserved from 217 access gap clusters to 114. The…