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Tag: MTN Nigeria

MTN Nigeria plans public offer to sell 11% stake
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Court grants students who hacked MTN N50m bail

A Federal High Court in Lagos granted N50 million bail each to two students, Timothy Oluwabukola from Moshood Abiola Polytechnic and Anthony Odemerho from Resign Regal Academy, on Monday. The students are accused of hacking into MTN Nigeria Communications’ computers and stealing airtime and data valued at N1.9 billion. Justice Akintayo Aluko approved their bail […]

MTN Nigeria plans public offer to sell 11% stake
News

MTN Nigeria acquires minority stake in MoMo PSB for N6.95bn

MTN Nigeria has acquired the minority shares in MoMo Payment Service Bank (MoMo PSB) for N6.95 billion. This was disclosed in a statement the company filed with NGX on Monday. According to the statement, MTN Nigeria has completed the acquisition of the 7.17% stake in MoMo PSB held by Acxani Capital; making MoMo PSB a […]

MTN winds down BEE scheme, pay out modest returns to investors
News

MTN Nigeria reports major losses amidst FX fluctuations

MTN Nigeria, the country’s largest telecommunications provider, has reported a significant loss after tax of ₦519 billion for the first half of 2024. This marks a dramatic increase from the ₦85 billion loss recorded during the same period in 2023. The loss is largely attributed to fluctuations in foreign exchange rates and accelerating inflation, which […]

News Telecommunications

MTN paid N549bn taxes, levies to FG in 2023

MTN Nigeria Communications Plc has revealed that it paid N549.3 billion in taxes and levies to the Nigerian government. This was disclosed in the company’s 2023 Sustainability Report filed with the Nigeria Exchange Limited. According to the report, MTN Nigeria increased its connectivity to 79.7 million people, achieving 92.9% countrywide coverage. “We are proud of […]

MTN winds down BEE scheme, pay out modest returns to investors
News

MTN commits to smartphone affordability, digital Inclusion

Melvin Onwubuke MTN Nigeria Chief Executive Officer, Karl Toriola reaffirmed the company’s commitment to increasing affordability and accessibility of mobile phones in Nigeria. The challenges and opportunities in the Nigerian market, as well as the strategies of MTN to promote digital inclusion, were highlighted recently by Toriola in an interview on ARISENEWS. Toriola acknowledged that […]

MTN MoMo PSB’s active wallet surges to 5.3 million in 2023
Telecommunications

MTN commits to smartphone affordability, digital Inclusion

Melvin Onwubuke   MTN Nigeria Chief Executive Officer, Karl Toriola reaffirmed the company’s commitment to increasing affordability and accessibility of mobile phones in Nigeria.   The challenges and opportunities in the Nigerian market, as well as the strategies of MTN to promote digital inclusion, were highlighted recently by Toriola in an interview on ARISENEWS.   […]

MTN Nigeria Chief Executive Officer, Karl Toriola reaffirmed the company's commitment to increasing affordability and accessibility of mobile phones in Nigeria.
Telecommunications

MTN commits to smartphone affordability, digital Inclusion

By Melvin Onwubuke   MTN Nigeria Chief Executive Officer, Karl Toriola reaffirmed the company’s commitment to increasing affordability and accessibility of mobile phones in Nigeria. The challenges and opportunities in the Nigerian market, as well as the strategies of MTN to promote digital inclusion, were highlighted recently by Toriola in an interview on ARISENEWS. Toriola […]

MTN internet subscription declines over NIN-SIM linkage
News

MTN Nigeria to empower female entrepreneurs in N450m ‘Yellopreneur’ initiative

By Melvin Onwubuke   The Corporate Social Responsibility arm of MTN Nigeria, MTN Foundation has opened applications for phase two of its ‘Yellopreneur’ initiative, through which it intends to offer the sum of N450 million as loans to successful applicants. The was disclosed by Mrs Odunayo Sanya, the Executive Director of the Foundation, in a […]

Equity investors lose N1.5tn as bond yield rises
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Equity investors lose N1.5tn as bond yield rises

Due to the strong rates in the fixed-income market, investors in the equities market lost around N1.55 trillion in February. The PUNCH recorded that, In the short- to medium-term, it is anticipated that investors would become less interested in the capital market as they pursue higher returns due to the increase in the monetary policy […]

MTN MoMo PSB’s active wallet surges to 5.3 million in 2023
News

MTN MoMo PSB’s active wallet surges to 5.3 million in 2023

By Melvin Onwubuke   MTN Nigeria has disclosed that its MoMo Payment Service Bank (PSB) attained 5.3 million active wallet users, as of December 2023. MTN noted that the PSB earned more traction by increasing its agent network in the year by 103,000 to 327,000. From it’s financial records, the company’s active merchant ecosystem, which […]

Telecommunications

MTN MoMo PSB hits 5.3m active wallets in 2023

MTN Nigeria has disclosed that its MoMo Payment Service Bank (PSB) attained 5.3 million active wallet users, as of December 2023. MTN noted that the PSB earned more traction by increasing its agent network in the year by 103,000 to 327,000. From it’s financial records, the company’s active merchant ecosystem, which commenced in March 2023, […]

MTN, Mastercard partner to boost digital connectivity
News

MTN, Mastercard partner to boost digital connectivity

Melvin Onwubuke MTN group and Mastercard have signed a multi-market contract, that will activate a new era of partnership to connect millions of people and small businesses across Africa, with digital tools to operate through secure mobile networks. This was disclosed by MTN in a statement released on Thursday. In the statement, MTN said the […]

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