Barring any changes, customers of nine banks in Nigeria may not be able to re­ceive alerts and perform banking trans­actions using their mobile phones from January 27, 2025, as telecommunications operators have been authorised to discon­nect the Unstructured Supplementary Service Data (USSD) codes assigned to the financial institutions due to N200 billion debt.This directive was given by the Nigeri­an Communications Commission (NCC) in a public notice yesterday, signed by the Commission’s Director of Public Affairs, Reuben Muoka, reports Daily Independent.The NCC said affected banks must settle their outstanding ob­ligations by January 27, 2025, or risk losing access to their USSD codes.These codes, essential for en­abling mobile banking services, could be reassigned to other ap­plicants if the debts remain un­resolved.Originally designed by tele­com operators for services like airtime purchases and subscrip­tions, USSD has become a key tool in the banking sector, offering fi­nancial services to users without requiring an Internet connection.The commission revealed that, as of Tuesday’s (January 14, 2025) close of business, nine out of 18 financial institutions had not complied with regulato­ry directives.While other banks have cleared their debts, the total amount initially owed by the fi­nancial institutions was reported to exceed N200 billion.However, the regulator did not disclose the precise debt currently owed by the affected banks.According to the NCC, some of the unpaid invoices have remained unpaid since 2020, in­dicating a prolonged financial dispute between the banks and telecom operators.Part of the notice reads, “By the information made available to the commission as at close of business on Tuesday, January 14, 2025, of a total of 18 financial institutions, the nine institutions listed below have failed to comply significantly with the directives in the second joint circular of the Central Bank of Nigeria and the commission dated December 20, 2024, for the settlement of out­standing invoices due to MNOS, some since 2020.”The regulator noted that banks’ failure to comply with the CBN-NCC joint circular also means that they are unable to meet the good standing require­ments for the renewal of the USSD codes assigned to them by the commission.It added, “In fulfilment of its consumer protection mandate, the commission wishes to in­form consumers that they may be unable to access the USSD platform of the affected finan­cial institutions from January 27, 2025.”The affected financial institu­tions include United Bank for Africa Plc, Fidelity Bank Plc, First City Monument Bank, Jaiz Bank Plc, Polaris Bank Limited, Sterling Bank Limited, Wema Bank Plc, Zenith bank and other one financial institution. The affected USSD codes in­clude 770, 919, 822, 329, 773, 833, 7799, 945 and 966.The NCC emphasised that the financial institutions had been duly notified of the need for im­mediate compliance and warned that consumers may face service disruptions if the issues remain unresolved.This development highlighted ongoing tensions between tele­communications companies and financial institutions over unpaid USSD-related debts, a challenge that has persisted for years.Earlier in the week, NCC had promised to issue a notice with the names of the erring banks, preparing bank customers to seek alternatives during the sus­pension period.USSD is a crucial payment gateway for many Nigerians.During the 20th anniversary of the telecoms sector in 2021, the then Group Managing Di­rector of Zenith Bank Plc, Mr. Ebenezer Onyeagwu, said, “The introduction of USSD changed everything. Without telecoms infrastructure, there is no USSD code.”The value of USSD transac­tions between January and June 2024 was N2.19 trillion.However, this is a 54.75 percent decline from N4.84 trillion in the same period of 2023, with more Nigerians increasingly favouring internet transfers.In a December 20 memo, the CBN and NCC gave banks a De­cember 31, 2024, deadline to pay 85 percent of all outstanding invoices (from February 2022)- a mandate that has been ignored by many of the banks.

Seplat Petroleum Development Company Limited (also known as Seplat Energy Plc) and 12 senior officials of the company have been dragged to court by the Federal Government of Nigeria for alleged tax evasion amounting to the sum of $37.5 million, The Witness reports.The 12 officials of the oil firm listed in the suit are: Roger Brown (CEO), Samson Ezugworie (COO/ED0; Eleanor Adaralegbe (CFO/ED); Effiong Okon (MD, ANOH Gas); Ayodele Olatunde (MD, Seplat West); Obi Ada Itotoi (MD, Seplat East); Pius Ozoemenah Udeh (MD, Elcrest); Edith Owuchekwa (Company Secretary); Chioma Yvonne Afe (Dir. External Affairs); Okechukwu Mba (Dir. New Energy); Alasdair Mackenzie (Dir. Strategy & Planning) and Steve Ojeh (Dir. Corporate Services).In the Suit No: FHC/L/ 982C/24, filed before the Federal High Court, Lagos division by the Federal Inland Revenue Service, FIRS, on behalf of the federal government, it was alleged that Seplat Petroleum and 12 of its officials, sometime in 2010, in Nigeria did purchase a participating interest in the producing assets of OML 4, OML 38 and OML 41 and failed or evaded to pay the statutory stamp duty imposed on the Purchase Agreement and the accruing interest in the sum of $37,581,083.40 to the Federal Republic of Nigeria.The FIRS alleged that by evading the said tax, the company and its officials committed an offence, contrary to S. 23 of the Stamp Duties Act and punishable under S.111 and 112 of the Stamp Duties Act (as amended).The defendants were also alleged to have counterfeited the seal of the Commissioner of Stamp Duties by inserting same on the purchase agreement of OML 4, OML 38, and OML 41.The five count charge filed before the court by the FIRS against Seplat Petroleum and its officials are:COUNT 1: That you SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD, ROGER BROWN, SAMSON EZUGWORIE, ELEANOR ADARALEGBE,EFFIONG OKON, AYODELE OLATUNDE, IBI ADA ITOTOI, PIUS OZOEMENAM UDEH, EDITH ONWUCHEKWA, CHIOMA YVONNE AFE.OKECHUKWU MBA, ALASDAIR MACKENZIE and STEVE OJEH, sometime in 2010, in Nigeria and within the jurisdiction of this Honorable Court, did purchase a participating interest in the producing assets of OML 4, OML 38 and OML 4I and failed or evaded to pay the statutory stamp duty imposed on the executed Purchase Agreement and the accruing interest in the sum of $37,581,083.40 (Thirty seven million, live hundred and eighty one thousand, eighty three dollars and forty cents only) a sum due and payable to the Federal Republic of Nigeria in so doing, committed an offence, contrary to S. 23 of the Stamp Duties Act and punishable under S.111 and 112 of the Stamp Duties Act (as amended).COUNT 2: That you SEPLAT PETROLEUM DEVELOPMENT COMPANY LIMITED, ROGER BROWN, SAMSON EZUGWORIE, ELEANOR ADARALEGBE,EFFIONG OKON, AYODELE OLATUNDE, IBI ADA ITOTOI, PIUS OZOEMENAM UDEH, EDITH ONWUCHEKWA, CHIOMA YVONNE AFE.OKECHUKWU MBA, ALASDAIR MACKENZIE and STEVE OJEH, sometime in 2010, in Nigeria and within the jurisdiction of this Honorable Court, did purchase a participating interest in the producing assets of OML 4, OML 38 and OML 41 and did unlawfully and willfully evade the payment and remittance of duties, fines, penalties and debts due to the Government of the Federation imposed on the executed Purchase Agreement to acquire Oil Mining Lease 4, 38 and 41, in the sum of $37,581,083.40 (Thirty seven million, five hundred and eighty one thousand and forty cents only) and in so doing, committed an offence, contrary to and punishable under S. 111 and 112 of the Stamp Duties Act (as amended).COUNT 3: That you SEPLAT PETROLEUM DEVELOPMENT COMPANY LIMITED, ROGER BROWN, SAMSON EZUGWORIE, ELEANOR ADARALEGBE, EFFIONG OKON, AYODELE OLATUNDE, IBI ADA ITOTOI, PIUS OZOEMENAM UDEH, EDITH ONWUCHEKWA, CHIOMA YVONNE AFE, OKECHUKWU MBA, ALASDAIR MACKENZIE and STEVE OJEH, sometime in 2010, in Nigeria and within the jurisdiction of this Honorable Court, did purchase a participating interest in the producing assets of OML 4, OML 38 the executed Purchase Agreements and the accruing interest in the sum of S eighty three dollars and forty cents only), a sum due and payable to the Federal Republic of Nigeria and in so doing, committed an offence contrary to and punishable under S. 32 of the Federal Inland Revenue Service Establishment Act 2007 (as amended).COUNT 4: That you SEPLAT PETROLEUM DEVELOPMENT COMPANY LIMITED, ROGER BROWN, SAMSON EZUGWORIE, ELEANOR ADARALEGBE, EFFIONG OKON, AYODELE OLATUNDE, IBI ADA ITOTOI, PIUS OZOEMENAM UDEH, EDITH ONWUCHEKWA, CHIOMA YVONNE AFE, OKECHUKWU MBA, ALASDAIR MACKENZIE and STEVE OJEH, sometime in 2010, in Nigeria and within the jurisdiction of this Honorable Court, did purchase a participating interest in the producing assets of OML 4, OML 38and OML 41 and failed or evaded to pay the statutory stamp duty imposed on the executed Purchase Agreement and the accruing interest in the sum of $37,581,083.40 (thirty seven million1, five hundred and eighty one thousand, eighty three dollars and forty cents only a sum due and payable to the Federal Republic of Nigeria in so doing, committed an offence, contrary to and punishable under S.40 of the Federal Inland Revenue Service Establishment Act 2007 (as amended).COUNT 5: That you SEPLATPETROLEUM DEVELOPMENT COMPANY LIMITED, ROGER BROWN, SAMSON EZUGWORIE, ELEANOR ADARALEGBE, EFFIONG OKON, AYODELE OLATUNDE, IBI ADA ITOTOI, PIUS OZOEMENAM UDEH, EDITH ONWUCHEKWA, CHIOMA YVONNE AFE, OKECHUKWU MBA and STEVE OJEH on or about 2010 in Nigeria and within the jurisdiction of this Honorable Court, did counterfeit the seal of the Commissioner of Stamp Duties by inserting same on the purchase agreement of OML 4, OML 38 and OML 41, for the purposes of verification relating to the taxes thereat and thereby committed an offence, contrary to S.43 (c) and punishable under S.43 ( c) of the Federal Inland Revenue Establishment Act 2007 (as amended).When contacted, Chioma Afe, Director, External Affairs and Sustainability, Seplat Energy, told The Witness via a text message that “The matter is in court and as such we cannot comment on it. Further information will be shared at an appropriate time as needed,”Meanwhile, the matter has been fixed for February 28, 2025 for trial.egramShareSeplat Petroleum Development Company Limited (also known as Seplat Energy Plc) and 12 senior officials of the company have been dragged to court by the Federal Government of Nigeria for alleged tax evasion amounting to the sum of $37.5 million, The Witness reports.The 12 officials of the oil firm listed in the suit are: Roger Brown (CEO), Samson Ezugworie (COO/ED0; Eleanor Adaralegbe (CFO/ED); Effiong Okon (MD, ANOH Gas); Ayodele Olatunde (MD, Seplat West); Obi Ada Itotoi (MD, Seplat East); Pius Ozoemenah Udeh (MD, Elcrest); Edith Owuchekwa (Company Secretary); Chioma Yvonne Afe (Dir. External Affairs); Okechukwu Mba (Dir. New Energy); Alasdair Mackenzie (Dir. Strategy & Planning) and Steve Ojeh (Dir. Corporate Services).In the Suit No: FHC/L/ 982C/24, filed before the Federal High Court, Lagos division by the Federal Inland Revenue Service, FIRS, on behalf of the federal government, it was alleged that Seplat Petroleum and 12 of its officials, sometime in 2010, in Nigeria did purchase a participating interest in the producing assets of OML 4, OML 38 and OML 41 and failed or evaded to pay the statutory stamp duty imposed on the Purchase Agreement and the accruing interest in the sum of $37,581,083.40 to the Federal Republic of Nigeria.The FIRS alleged that by evading the said tax, the company and its officials committed an offence, contrary to S. 23 of the Stamp Duties Act and punishable under S.111 and 112 of the Stamp Duties Act (as amended).The defendants were also alleged to have counterfeited the seal of the Commissioner of Stamp Duties by inserting same on the purchase agreement of OML 4, OML 38, and OML 41.The five count charge filed before the court by the FIRS against Seplat Petroleum and its officials are:COUNT 1: That you SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD, ROGER BROWN, SAMSON EZUGWORIE, ELEANOR ADARALEGBE,EFFIONG OKON, AYODELE OLATUNDE, IBI ADA ITOTOI, PIUS OZOEMENAM UDEH, EDITH ONWUCHEKWA, CHIOMA YVONNE AFE.OKECHUKWU MBA, ALASDAIR MACKENZIE and STEVE OJEH, sometime in 2010, in Nigeria and within the jurisdiction of this Honorable Court, did purchase a participating interest in the producing assets of OML 4, OML 38 and OML 4I and failed or evaded to pay the statutory stamp duty imposed on the executed Purchase Agreement and the accruing interest in the sum of $37,581,083.40 (Thirty seven million, live hundred and eighty one thousand, eighty three dollars and forty cents only) a sum due and payable to the Federal Republic of Nigeria in so doing, committed an offence, contrary to S. 23 of the Stamp Duties Act and punishable under S.111 and 112 of the Stamp Duties Act (as amended).COUNT 2: That you SEPLAT PETROLEUM DEVELOPMENT COMPANY LIMITED, ROGER BROWN, SAMSON EZUGWORIE, ELEANOR ADARALEGBE,EFFIONG OKON, AYODELE OLATUNDE, IBI ADA ITOTOI, PIUS OZOEMENAM UDEH, EDITH ONWUCHEKWA, CHIOMA YVONNE AFE.OKECHUKWU MBA, ALASDAIR MACKENZIE and STEVE OJEH, sometime in 2010, in Nigeria and within the jurisdiction of this Honorable Court, did purchase a participating interest in the producing assets of OML 4, OML 38 and OML 41 and did unlawfully and willfully evade the payment and remittance of duties, fines, penalties and debts due to the Government of the Federation imposed on the executed Purchase Agreement to acquire Oil Mining Lease 4, 38 and 41, in the sum of $37,581,083.40 (Thirty seven million, five hundred and eighty one thousand and forty cents only) and in so doing, committed an offence, contrary to and punishable under S. 111 and 112 of the Stamp Duties Act (as amended).COUNT 3: That you SEPLAT PETROLEUM DEVELOPMENT COMPANY LIMITED, ROGER BROWN, SAMSON EZUGWORIE, ELEANOR ADARALEGBE, EFFIONG OKON, AYODELE OLATUNDE, IBI ADA ITOTOI, PIUS OZOEMENAM UDEH, EDITH ONWUCHEKWA, CHIOMA YVONNE AFE, OKECHUKWU MBA, ALASDAIR MACKENZIE and STEVE OJEH, sometime in 2010, in Nigeria and within the jurisdiction of this Honorable Court, did purchase a participating interest in the producing assets of OML 4, OML 38 the executed Purchase Agreements and the accruing interest in the sum of S eighty three dollars and forty cents only), a sum due and payable to the Federal Republic of Nigeria and in so doing, committed an offence contrary to and punishable under S. 32 of the Federal Inland Revenue Service Establishment Act 2007 (as amended).COUNT 4: That you SEPLAT PETROLEUM DEVELOPMENT COMPANY LIMITED, ROGER BROWN, SAMSON EZUGWORIE, ELEANOR ADARALEGBE, EFFIONG OKON, AYODELE OLATUNDE, IBI ADA ITOTOI, PIUS OZOEMENAM UDEH, EDITH ONWUCHEKWA, CHIOMA YVONNE AFE, OKECHUKWU MBA, ALASDAIR MACKENZIE and STEVE OJEH, sometime in 2010, in Nigeria and within the jurisdiction of this Honorable Court, did purchase a participating interest in the producing assets of OML 4, OML 38and OML 41 and failed or evaded to pay the statutory stamp duty imposed on the executed Purchase Agreement and the accruing interest in the sum of $37,581,083.40 (thirty seven million1, five hundred and eighty one thousand, eighty three dollars and forty cents only a sum due and payable to the Federal Republic of Nigeria in so doing, committed an offence, contrary to and punishable under S.40 of the Federal Inland Revenue Service Establishment Act 2007 (as amended).COUNT 5: That you SEPLATPETROLEUM DEVELOPMENT COMPANY LIMITED, ROGER BROWN, SAMSON EZUGWORIE, ELEANOR ADARALEGBE, EFFIONG OKON, AYODELE OLATUNDE, IBI ADA ITOTOI, PIUS OZOEMENAM UDEH, EDITH ONWUCHEKWA, CHIOMA YVONNE AFE, OKECHUKWU MBA and STEVE OJEH on or about 2010 in Nigeria and within the jurisdiction of this Honorable Court, did counterfeit the seal of the Commissioner of Stamp Duties by inserting same on the purchase agreement of OML 4, OML 38 and OML 41, for the purposes of verification relating to the taxes thereat and thereby committed an offence, contrary to S.43 (c) and punishable under S.43 ( c) of the Federal Inland Revenue Establishment Act 2007 (as amended).When contacted, Chioma Afe, Director, External Affairs and Sustainability, Seplat Energy, told The Witness via a text message that “The matter is in court and as such we cannot comment on it. Further information will be shared at an appropriate time as needed,”Meanwhile, the matter has been fixed for February 28, 2025 for trial.

A trial opening on Monday in which plaintiffs want more than one billion pounds is set to answer that question.The complaint, filed in May 2021, accuses Apple of breaching European and UK competition laws by “its exclusion of any other app stores from iOS devices” like iPhones and iPads.It claims that some 20 million Apple users may have been overcharged by the company “due to its ban on rival app store platforms.”The complainants say a “30 per cent surcharge” that the company “imposes” on apps purchased through Apple’s App Store comes at the “expense of ordinary consumers.”

The case, which Apple has called “meritless”, has been brought by Kings College London academic Rachael Kent and the law firm Hausfeld & Co.The trial is set to last seven weeks at the Competition Appeal Tribunal in London.At the heart are accusations that Apple used the App Store to exclude competitors, forcing users to use its system and boosting profits in the process.“The 30 per cent surcharge relates to most of the applications that you’re going to be using when you’re downloading and making in-app purchases on the App Store,” Kent told AFP, citing dating platform Tinder as an example.However, it does not apply to applications offering physical products, such as the delivery services Deliveroo and Uber Eats, the academic specifies.Any user who purchased applications or subscriptions in the British version of the App Store between October 1, 2015, and November 15, 2024, may be entitled to compensation from Apple, believes Kent, a lecturer in the digital economy.The claim seeks total estimated damages of £1.5 billion ($1.8 billion).

According to British law, in this type of class action, all potentially affected persons are included in the procedure by default and may benefit from possible compensation, unless they voluntarily opt out.When contacted by AFP, Apple referred to a 2022 statement, in which it said 85 per cent of the applications on the App Store are free.“We believe this lawsuit is meritless and welcome the opportunity to discuss with the court our unwavering commitment to consumers and the many benefits the App Store and Apple’s valuable technologies have delivered to the UK’s innovation economy,” the statement added.The company also insists that the commission charged by the App Store is “very much in the mainstream of those charged by all other digital marketplaces”.Investigations and complaints against Apple have multiplied around the world in recent years, particularly regarding its app store.The American behemoth is the subject of another complaint worth £785 million (936 million euros) related to rates charged to app developers.

Last June, the European Commission accused Apple of breaching its digital competition rules by preventing developers from “freely steering consumers to alternative channels” other than the App Store.Apple then agreed to relax its rules, announcing in August that iPhone and iPad users in the European Union could delete the App Store and use competing platforms.“They’re responding to these investigations and also being told what to do. I don’t think they’re going to do it voluntarily, which I think is why it’s really important to bring these collective actions,” said Kent

AFP