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ALTON Confirms Banks cleared N300bn USSD debts

The debt problem that had lingered for over four years was resolved through the intervention of the NCC under the leadership of its Executive Vice Chairman, Dr. Aminu Maida.

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The Association of Licensed Telecommunications Operators of Nigeria (ALTON) has confirmed that Deposits Money Banks (DMBs) have paid the estimated N300 billion debts they owed telecom operators for Unstructured Supplementary Service Data (USSD) services.

ALTON Chairman, Engr. Gbenga Adebayo disclosed this yesterday during the group’s official visit to the Board Chairman of the Nigerian Communications Commission (NCC), Idris Olorunnimbe in Lagos.

According to Adebayo, paying off the debt brought to a close years of accusations and counter-accusations between the banks and telecom operators.

Adebayo said that the debt problem that had lingered for over four years was resolved through the intervention of the NCC under the leadership of its Executive Vice Chairman, Dr. Aminu Maida.

While commending the leadership of the NCC for their recent interventions including the approval of 50 percent end user tariff adjustment last year, Adebayo said the Commission has steered the ship of the sector through one of its most delicate periods.

“When Dr. Maida assumed office, he inherited significant industry challenges. One of the most difficult was the USSD debt crisis — a debt burden that grew over four years to nearly N300 billion. It had become a systemic risk to our sector and the digital financial ecosystem.

“Through firm leadership, structured engagement, and decisive coordination, Dr. Maida and his team resolved this issue.

“Today, there is no outstanding USSD debt. The ecosystem has fully migrated to end-user billing. What was once a looming crisis has been converted into a sustainable framework,” Adebayo stated.

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Naira Rates To Dollar, Pound ,Euro… Friday, October 2

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BLACK MARKET RATES

₦1375DOLLAR (USD)

₦1845 POUND (GBP)

EURO (EUR) ₦1550

₦1000 CANADIAN DOLLAR (CAD)

₦70 SOUTH AFRICAN RAND (ZAR)

₦370 UAE DIRHAM

₦190 CHINESE YUAN (CNY)

₦100 GHANA CEDI (GHS)

₦2350 CFA F.(XOF)

₦2250 CFA F.(XAF)

₦850 AUSTRALIAN DOLLAR (AUSSIE)

Official CBN Exchange Rates

DOLLAR (USD)₦1329.16

POUND (GBP)₦1766.59

EURO (EUR) ₦1510.06

SWISS FRANC (CHF) ₦1593.91

JAPANESE YEN (JPN)₦8.47

CFA FRANC (XOF) ₦2.30

WEST AFRICAN UNIT OF ACCOUNT (WAUA) ₦1807.23

CHINESE YUAN (CNY) ₦198.25

SAUDI RIYAL (SAR) ₦353.97

SOUTH AFRICAN RAND (ZAR) ₦81.18

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Obasanjo: “Aliko Embarrass Me”

He got all his workers together in that refinery and said, without telling me, and there, said…

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Former President of Nigeria, Olusegun Obasanjo, has described Aliko Dangote as his “boss”, crediting the businessman’s industrial achievements to the policies and encouragement provided by his administration.

Obasanjo said this while speaking at the groundbreaking ceremony of the Dangote East Africa Refinery in Lamu, Kenya, where he recalled his recent visit to the Dangote refinery and the businessman’s acknowledgement of the role he played in his transition from cement importation to production.

He said, “About two months ago, three months ago, I visited the refinery which you visited last week. And I just couldn’t stop being surprised what Aliko did. But then Aliko embarrassed me.”

According to Obasanjo, Dangote had gathered his workers during the visit and publicly attributed part of his success in cement production and the eventual development of his refinery to the policies and encouragement of the former president.

He said, “He got all his workers together in that refinery and said, without telling me, and there, said, all of you working here, all of you, the man you have to thank is this man, that’s me. I didn’t have anything to do with his refinery or what it is.

He said, without this man, I would not have been in cement production.“And it is the cement production that provided the encouragement, the inspiration for the refinery. So, thank you. They all shouted and thanked me.”

Obasanjo said Dangote had expanded the opportunities created by his administration beyond Nigeria, particularly through cement production across Africa, and was now replicating the model in the petroleum refining sector.

“May God continue to expand your coast. And you are my boss. You will continue to be my boss.”

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Minister Tasks Charcoal Merchants on Sustainable Forestry

The minister gave the charge at the flag-off of the 2026 Operation One Million Trees Tree Planting Programme organised by the Association for Forest Conservation and Green Industrial Charcoal Merchants at the Faculty of Renewable Natural Resources, University of Ibadan.

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•Charcoal merchants and other stakeholders in the forestry sector

The Minister of Environment, Balarabe Abass Lawal, has charged charcoal merchants and other stakeholders in the forestry sector to embrace sustainable practices and support the federal government’s efforts to reverse deforestation and restore Nigeria’s degraded forest landscapes.

The minister gave the charge at the flag-off of the 2026 Operation One Million Trees Tree Planting Programme organised by the Association for Forest Conservation and Green Industrial Charcoal Merchants at the Faculty of Renewable Natural Resources, University of Ibadan.

The programme, which brought together forestry practitioners, charcoal merchants, environmentalists, students, regulators and other stakeholders, is aimed at promoting afforestation and encouraging responsible management of Nigeria’s forest resources.

Speaking at the event, the minister described tree planting as one of the most practical measures for combating climate change, reversing deforestation, restoring biodiversity, controlling desertification and strengthening the resilience of the nation’s ecosystems.

The Chairman of the Association for Forest Conservation and Green Industrial Charcoal Merchants, Mr Adeshola Adebowale Idowu, emphasised that the event carried a clear message for everyone involved in the charcoal business and, indeed, every Nigerian.

Idowu said stakeholders should develop the habit of replacing trees removed from the environment, encouraging Nigerians to plant trees around their homes and communities.

He advocated a practice of planting several trees for every tree cut down, stressing that trees remain indispensable to human existence because many products used by society are derived from them

( THISDAY)

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