SATURDAY
Sanctity Of Truth
NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS
/newtelegraph
Vol. 1 No. 286
Monday, December 1, 2014
@newtelegraph1 www.newtelegraphonline.com
international NEW YORK TIMEs inside
FG considers fuel subsidy removal in June 2015 Adeola Yusuf
T
he Federal Government has scheduled
June 2015 for outright end of subsidy on Premium Motor Spirit (PMS) also known as petrol, New
Telegraph gathered at the weekend. A source at the Presidency told this newspaper
that this agenda, which he called Plan A, is to ensure that the action does not CONTINUED ON PAGE 8
NEW TELE
GRAPH
Money Lin
e
MONDAY, DECE
MBER 1,
Banks ahea use, says d in technology Systems pecs
}23
2014
Stock Wa
tch
35
Honeywel l: Strategic excites expansio investors n
37
Insurance
AXA’s incu underwrit rsion stirs faith in Nigeria’s ing mark et
Busines s 38
WhAt'S NeWS
Cabotage: over NIM NPA takes ASA’s job The cord ial
the Nige relationship rian (NPA) and Ports Auth between ority Administ the Nigerian Maritime (NIMASA)ration and Safe frosty, as may soon becoty Agency take char the former moveme ge of part s to of the latte of the dutie r. s
Interview
Too man y frequencie killing dom s estic oper to foreign airlin es ators – Bankole
21
42-43
Subscrib N137bn ers’ phone bills monthly –Investi hit gation
Page 21
MONITOR ING Reg
ulator is of custome tracking level rs’ com on mob ile netw plaints orks
scribers Ogunban(NATCOMS), ing wag jo, justified Mr. Deolu not only ARPU e bills despitethe growcom cons to the individu decl gradual He said ine and lowe al teleeconomy umers, but r tarif the scrip also to try has as the and tions, both become telecoms indufs. Ogunban a whole. a critical s- ria in the rura jo note urba has sector, d that years of l areas in the last n cal uptarecorded an astro Nigetelecoms 13 ke in Quo he amo telephon nomi- that ting NCC deregulation ’s data . spen t unt of mon e subbetw ey ber 2014 een 2001 and, he noted subscribby tele com s ers in creased , teledensi Septemria in ty their resp making Nigecent to from less than has inised nt 96.08 per reached ective netw calls on one per gas shor to intervene has cent. Reac in lion monan estimated orks has million tage with some Ghana’s graph’sting to the standard 200 Tele grap thly, accordinN137 bilestimated New Tele gas this phon cubic g h’s to New e bills feet (scu month. The figur investigation , Ogunbanmonthly f) “This e is arriv is . ing the your find revealing. jo said: ed at by latest offic How base and usial subs ever, minus, ings may criber be Revenue the subsistin us with but I think it plus or g Aver Per User ARPU p.36 (ARPU). age telecomsan idea as to provides how muc mance is the finan spend subscribers cial perf h benchma on in coms indu orrk in vice prov their resp Nigeria the aver stry that the teleiders mon ective sermeasure “Nex thly generateage monthly s er need t to shelter, food . telecoms d by operatorrevenue communs of man is the and othsubs s from Accordi cribers. us a lot icate, which need to ng to now of perts, time indu been wast that wou saves ARP coms mar U in Nige stry explace to ed travelling ld have ket is still ria’s teleanother from one at arou or nd $6 (N1, estimated to see transact foreign business relatives exchange 020), given Also es.” the Offic rate based commenting telec , The Busines try’s telecial data from at N170. Seyi Ade oms cons an Ikejathe coun s Desk umer, gerian oms regulator derstand femi, said: Mr Ayodele Commun , the Nimission able that “It is unicati Deputy Editor Aminu spend a Nigerian telecoms(NCC), also ons Com- L-R: MD, incomessizeable chun Bayo Akom(Business) Keystone show that s sioner to have 134.5operators Bank Limit Asst. Editor olafe which on telecoms k of their currentl Uganda, mill are (Maritime) a court phone Ambassado ed, Philip Ikeaz penditure replacing services, esy lines on ion active tele-y Sunday or and the travel Uganda, visit to the amba r Cornelius s for the their netw These Nigerian Asst. Editor Ojeme exOmol at Ade ssador the week peop femi (Insurance) System include the orks. after meet ade Oluwateru High Commisend. huge amo stressed le.” Godson for Mob , when ing on Niger Ikoro tions oper ile Com Global Asst. Editor ian inves Ikeazor paid generate unt of mon that the mun ator (Money Marke tments sion Mul s; the Code icain provider d by telecomsey being t) Dele Alao Divis daily as well tiple Access Industry oper has alsoservice as & Agric Editor less netw the fixed wire ators, raise Dayo Ayeye d orks CONT INUE d/wiremi Accordi . D ON PAGE Property ng to Editor graph’s 36 New Adeola Yusuf Tele of N1,0 findings, with 20 Energy Editor an ARP of 134.5 and subscrib U Wole Shad phone million, Nige er base are users Aviation Editor now payria’s tele- Sunday mated Ojeme Chris Ugwu phone N137 billion an estiCapital Marke bills monthly arely thre can bank Commen. Abdulwah t Editor ing secto e months raising bills, Pres ting on ab Isa A r. repo after the Finance Editor rt by man ria-basedits stake in Nige that Associati ident of the phone by investin Kunle Azeez Unio Nati - part since his contagement said $270 on of Telecom onal Atla million, Bob n Bank Plc ure rove business g in African Senior Corres s Mar s SubDiam Diam from Barclays rsial dees. finance Chuks Onuapondent cursion a is mulling ond of ship ond’s got Onc in into muc fresh nyin with entr into part2012, able e dubbed the h of the in- Tha face Energy INFLATIO ‘una nerepreneur kkar Afrifall-out of banking cceptN RATE October Nnamdi holding , to found Atla , Ashish 2014 Amadi ,’ afte with the company s Mar Septembe ........................ governm r a Repor Rates ....8.1% that has a, a r 2014........ LENDING ent Johnson ter Dashb August been InterBank RATE Adebayo .............8. CONT INUE oard 2014........ Asst Produ Rate........ 3% D ON PAGE ................ ction Editor Prim ........ e ....12. 22 Lend ....8.5% EXCHANGE 57% ing Rate Maximum ...........17.9 RATE (Parellel 3% Lending As USD . . Rate...26. . . . . . . . at Nov. 28) EXCHANGE ....... Pounds 83% . . N182.50 . RATE Euro . . . . . . . . . . . . . . . . (Official l Forei ....... As at Nov. gn Reser USD . . . . . . . . . . . .N286 .. ves – $36.8 28) . . . . .N22 Pounds . . . . . . . . . . . . . . 5bn as 6 at 27/11 . . /2014 Euro . . . . . . . . . . . . . . . . . . . N168 ....... Source: N262 .80 ....... CBN . . N209 .54
p.22
Nigeria to Ghana’s intervene in gas sho The Fede rtage ral Gove prom rnme
N150
Kunle Aze ez
T
12 pages of indept Business
Rift over control of defence spending Top Unio more stakn Bank investor ey es in Afr ican ban es ks B
}5
lMinister of Defence, Gusau, NSA Dasuki in cold war Quick Read
Editorial
A new lease for Nigerian prisons }19 UK court orders sale of Akingbola's property }8
New Telegraph shifts publication of Nigeria’s Top 100 Companies }8
Telegraph
Travel Advisory
Your guide to local and international flights 4
Children stand by their ration at the Internally Displaced Persons Transit Camp at Girei, Yola, Adamawa State…weekend.
Senators deny plot to impeach Jonathan Chukwu David and Philip Nyam
C
ontrary to speculations making the rounds that senators
were perfecting plans to impeach President Goodluck Jonathan, New Telegraph's inquiries revealed that such plan was not in the offing. There were reports that
63 senators including eight members of the Peoples Democratic Party (PDP) have signed the impeachment notice against the president. The alleged impeach-
ment plot was hinged on non-implementation of budgets by Jonathan since 2011 to date; alleged high level of corruption in his administration and gross disregard of the legisla-
ture. But Senator Ganiyu Solomon (APC, Lagos West), who is the Minority Whip of the Senate, told our correspondent that he never CONTINUED ON PAGE 6