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MTN, Ericsson seal deal for network upgrade in Nigeria, S’Africa

 MTN Group has signed a deal with global technology firm, Ericsson, to upgrade the core  network in South Africa and Nigeria According to the telco, building on existing partnerships for cloud-native core network deployment with Ericsson in both countries, the modernisation would ensure the readiness of MTN Nigeria’s and MTN South Africa’s network infrastructure to enable 5G standalone in the future. The mobile operator disclosed in a statement that the initiative aligned with MTN Group’s principles and objectives outlined in the MTN Unified Cloud Acceleration framework, spanning five years. The Chief Technology and Information Officer of MTN Group, Mazen Mroué, said, “We are embarking on a strategic transformation programme to modernise and upgrade our core network infrastructure, signifying a commitment to enhancing network performance and efficiency in respective markets. “This collaboration is a key milestone for our Ambition 2025 to set new benchmarks in connectivity exc...
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CBN slashes import duty FX rate

 The Central Bank of Nigeria (CBN) has further reviewed downward the Customs Foreign Exchange duty rate from N1,630.159/$ to N1,544.081/$ on Monday, March 04, 2024, The slash which represents 5.3 percent follows the stability in the exchange rate of naira to the dollar. According to information on the official trade portal of the Nigeria Customs Service, the Customs Foreign Exchange duty rate was reviewed downward from N1,630.159/$ to N1,544.081/$ on Monday, March 04, 2024, This represents a 5.3 percent reduction when compared to the old rate of N1630.159/$ used as of Friday, March 2, 2024, and a decrease of N86.078 on a dollar needed to clear goods from the port. The exchange rate was moved from N951.941/$1 to N1, 356.883/$1 on February 2 and was again reviewed upwards on February 3 to N1, 413.62/$. Last Saturday, the rate was changed again to N1,417.635/$ before it was raised on Monday to N1,444.56/$1. The worrisome development has stifled import activities at various seaports an...
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