Africa’s biggest mobile phone operator MTN Group swung to its first annual loss in two decades on Thursday, hit by a regulatory fine in Nigeria and unfavourable currency moves but its shares soared after it kept a dividend. MTN agreed to pay a fine of 330 billion naira ($1.1 billion), reduced from $5.2 billion, in […]
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Nigerian protesters on Thursday demanded that South African citizens and businesses leave the country and vandalised the head office of mobile phone giant MTN in Abuja in retaliation for anti-Nigerian violence in South Africa. The National Association of Nigeria Students (NANS) said it had given South Africans 48 hours to get out otherwise the attacks […]
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The Minister of Communications, Adebayo Shittu, has urged MTN Nigeria to list its shares on the Nigerian Stock Exchange, describing it as important for the company. MTN, which is Africa’s biggest mobile phone operator, had said it aimed to list its Nigerian unit on the local bourse but has given no date. “I want to […]
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MTN Group Limited’s plan to sell shares in its Nigerian unit on the Nigerian Stock Exchange next year is at risk following allegations by lawmakers that Africa’s biggest wireless carrier illegally moved almost $14bn out of the country, according to two people familiar with the matter. In the event of a lengthy legal process to […]
Read More Despite facing numerous challenges in the year, telecommunication giant MTN Nigeria has emerge the best and most valuable brand in Nigeria according to the 2016 Top 50 Brands survey. The telecoms brand came first with a rating of 90.1, which bettered Coca-Cola Nigeria, 84.7, and Guaranty Trust Bank, 81.8. The model that was used in […]
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MTN Group announced on Wednesday it emerged the first mobile operator in the world to deploy and test the open optical packet transport platform, Voyager, in telecoms and technology. The telecom infra project (TIP) initiative, launched in February this year, is a global platform that brings together key operators in the telecoms and technology sector […]
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Nigeria Senate on Thursday demand the presence of the country Central Bank (CBN), MTN Nigeria, the Financial Reporting Council of Nigeria, three commercial banks and some businessmen over alleged violation of the Foreign Exchange (Monitoring and Miscellaneous) Act. The upper chamber of the National Assembly had instituted a probe into what it called the illegal transfer of $13.9bn […]
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Telecommunication company, MTN, has dismissed the claim that it offered bribe for the reduction of the N1.04 trillion fine slammed on it by the Nigerian Communications Commission. The NCC had slammed the N1.04 trillion fine on MTN in October 2015 after the operator failed to disconnect about 5.1 million subscribers it registered improperly on its […]
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The 2016 first quarter telecoms industry report has shown that MTN Nigeria lost 6.5 million Internet subscribers between the months of January and March. From a report published on the website of the Nigerian Communications Commission, the company began the year with 39,924,737 data customers, “but ended the quarter with 33,356,595.” It showed that another […]
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[su_dropcap]T[/su_dropcap]he Attorney General of the Federation and Minister for Justice, Abubakar Malami (SAN) has explained his role in the payment of N50billion to the Federal Government by a telecommunication firm, MTN Nigeria Limited as part settlement of the fine imposed on it by the Nigerian Communications Commission (NCC). According to The Nation, Malami denied any […]
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MTN Nigeria has formally announced the withdrawal of the court case against the federal government of Nigeria. According to a statement issued on Friday, this is in order to pave way for continue settlement discussions with the Federal government towards an amicable resolution of the matter in the best interests of the Telecom company and […]
Read More The Minister of Communications, Mr. Adebayo Shittu, on Wednesday said that the Federal Government had concluded plans to meet with the MTN Group to resolve the dispute over the N1.04tn fine imposed on the telecommunications firm, which was later reduced to N780bn. Although the minister said that the meeting would hold “very soon,” reliable sources […]
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