Friday, June 10, 2016

MTN agrees to pay Nigeria $1.7 billion fine over three years

MTN Group Ltd. agreed to pay a 330 billion naira ($1.7 billion) fine to the Nigerian government over three years, ending an eight-month negotiation process.

MTN Nigeria also agreed to take immediate steps to ensure the listing of its shares on the Nigerian Stock Exchange, the Johannesburg-based company said in a statement on Friday.

MTN shares rose 10 percent, on track for their biggest gain since 2008, to 136.09 rand as of 12.36 p.m. in Johannesburg.


Thursday, June 9, 2016

Video - Ringback tones making big money in Nigeria



When you call a Nigerian number, there's a good chance you'll hear music playing. Ringback tones cost just 25 cents a month, but artists, record labels, and telecom companies are raking in millions.

Video - Africa pays tribute to Nigerian football legend Stephen Keshi




There were more tributes paid to the late Stephen Keshi on social media following the news of his death. Here's what his former teammates, colleagues and fans had to say on Twitter.

President Buhari sends list of new ambassadors to Senate

President Muhammadu Buhari has sent a list of 47 new ambassadors to the Nigerian Senate for confirmation.

This was announced by the president of the Senate, Bukola Saraki, during the sitting of the upper legislative chamber on Tuesday.

Mr. Saraki read a letter from Mr. Buhari containing the list.

Names of the nominees are yet to be made public.

Nigeria has had no ambassadors to UK, Germany, USA, China, U.N., Spain, Russia and France after previous envoys were removed by Mr. Buhari after taking office in May 2015.

Rihanna and Jay Z sued for cancelling show in Nigeria after receiving $160k advance

Rihanna and Jay Z, who runs her music label Roc Nation, are being sued for allegedly collecting money for a concert she never gave.

The Work singer, 28, was allegedly booked to perform a show in Nigeria by Chris Ubosi and his radio station Megalectrics back in May 2013, TMZ is reporting.

Ubosi claims he made a deal with two individuals who represented Rihanna, Roc Nation and Jay Z with the promise that she would be paid $425,000 for a 65-minute performance at the Eko Hotel in Lagos - but a rep for Rihanna's label says the promoter was the victim of a scam.

The promoter coughed up $160,000 in three installments but then he claims her people asked to push back the concert to July.

According to TMZ, Ubosi agreed on the condition that Rihanna alert her fans of the date switch on social media.

DailyMail.com has reached out to Rihanna's representative for comment.

In his lawsuit filed in Manhattan Supreme Court, Ubosi claims that Rihanna never did mention the change on social media and so he and Megalectrics 'demanded the full and prompt return of their money,' the lawsuit says.

Ubosi claims he never got the $160k advance back and so he's taking Rihanna to court.

Her label Roc Nation and founder Jay Z, 46, who is wed to Beyonce, have been named as defendants.

The Barbadian beauty and her camp, on the other hand, are saying Ubosi was the victim of a scam and that they had nothing to do with this deal.

'Rihanna, Roc Nation nor anyone associated personally or professionally with either party was in contact with this person,' a spokesperson for Roc Nation told TMZ.

'Unfortunately this person was scammed. Rihanna nor Roc Nation collected any money for this event.'

Rihanna is currently in the midst of her Anti World Tour to support her eighth studio album released on January 28 exclusively through Tidal.

In total, she will perform 74 shows across North America and Europe.