Sunday 12th June 2016

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US: B'Haram’s Territorial Control Degraded, But Asymmetric Attacks Persist Says more than 1,240 persons killed in terrorist assaults in 2015

Anayo Okolie

The United States Bureau of Counterterrorism and Countering Violent Extremism has released its Country Reports on Terrorism for 2015 with an affirmation that the Boko

Haram terrorist sect had lost considerable capacity to hold territory, though it continued to launch uncoordinated attacks. The report confirms President Muhammadu Buhari’s oft-repeated assertion that

Level of interagency counterterrorism cooperation and information sharing limited

Boko Haram has been dealt a devastating blow by the Nigerian military, but the group is yet to be completely defeated. The report identified inadequate cooperation and information sharing among

the security agencies involved in the antiterrorism war as the bane of the counterterrorism operation. It said over 1, 240 persons were killed in terror attacks in Nigeria last year. “Regional military forces made progress during 2015

in degrading the group’s territorial control, in particular following the election of Nigerian President Buhari, but Boko Haram responded by increasing its use of asymmetric attacks,” the report said.

It added, “Bilateral and multilateral efforts by these regional military forces successfully challenged Boko Haram’s hold on territory, forcing it to abandon major

Afenifere Demands Official Release of June 12 Election Result... Page 8

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Sunday 12 June, 2016 Vol 21. No 7718

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Why MTN Will Rebound after N330 Billion Fine

Kunle Aderinokun

With a reduced fine of N330 billion and a payment plan staggered over a period of three years, it will not be long before telecoms giant, MTN Nigeria, rebounds. Reprieve came the way of MTN on Friday when the Nigeria Communications Commission (NCC) slashed its fine to N330 billion (less than $1 billion) from initial

N1.04 trillion (which was $5.2 billion at the time the fine was imposed). The reprieve came after eight months of engaging with the regulator over the fine imposed on the telecoms giant for failing to deactivate 5.2 million unregistered and improperly registered SIM cards on its network. In the wake of the fine imposition and as a conse-

quence of their action or inaction, three top executive officers of MTN were forced to resign, namely Sifiso Dabengwa , the Group CEO; Mike Ikpoki, CEO of MTN Nigeria; and Akinwale Goodluck, Director, Regulatory and Corporate Affairs. The company’s shares also plunged by 5 per cent when the news of the imposition of the fine broke last year, before gradually picking up

when the telecoms firm began to engage Nigerian authorities on way out. With the adjustment of the fine to N330 billion, at a time of looming devaluation of Naira and the prevailing exchange rate of the Nigerian currency, MTN will be paying less than 20 per cent of the initial value of the fine under terms of agreement which also discounted the initial N50billion earlier

paid by MTN to the government. The flexible payment plan also gives MTN enough breathing space, as it provides that the balance of N280 billion would be made in six tranches within a period of three years. By the terms of agreement, MTN will pay N30 billion into NCC’s Treasury Single Account (TSA) with the Central Bank of Nige-

ria (CBN), 30 days from the date of the agreement dated June 10, 2016. Other dates of payments include: March 31, 2017, (N30 billion); March 31, 2018, (N55 billion); December 31, 2018, (N55 billion); March 31, 2019, (N55 billion) and the balance will be on May 31, 2019, (N55 billion.)

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A

HAPPY REUNION

L-R: Former Minister of Finance, Dr. Kalu Idika Kalu; Chairman, Board of Directors, Etisalat Nigeria and President, Kings College Old Boys Association, Mr. Hakeem Bello-Osagie; Minister of Budget and National Planning, Senator Udoma Udo Udoma, and former Vice President Alex Ekwueme, at the business KOLA OLASUPO networking lunch by Kings College Old Boys Association, with theme: The 2016 Budget, in Lagos ...yesterday

WEEKLY PULL-OUT

12.06.2016

FEMI ODUGBEMI

A FILM MAKER AND DOCUMENTARIAN Cont’d on Pg. 58


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