Saturday, June 15, 2019

Tag "MTN"

    Next to Dangote, gained N183bn in 16 mins — 7 things to know about MTN listing

Next to Dangote, gained N183bn in 16 mins — 7 things to know about MTN listing

On Thursday, MTN made history as the first telecommunication major in Nigeria to be listed on the country's stock exchange.Pascal Dozie, MTN Nigeria chairman, who spoke at the historic event, said: “Today is a major milestone in the evolution of MTN in Nigeria and it is fitting that it takes place 18 years to the day since I made the [...]

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    After 18 years, MTN lists on NSE — adds N1.83trn to market cap

After 18 years, MTN lists on NSE — adds N1.83trn to market cap

MTN Nigeria has finally been listed on the Nigerian Stock Exchange.The telecommunications giant was listed on the industries sector of the national bourse, 18-years after its first investor call was made by Pascal Dozie, the brain behind the Diamond Bank."Our MTN Chairman & CEO have been presented with the official plaque, commemorating this monumental milestone in yet another historical moment [...]

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    MTN vs FG: Court strikes out AGF’s objection to damages suit

MTN vs FG: Court strikes out AGF’s objection to damages suit

The federal high court in Abuja has struck out a suit by the office of the attorney-general of the federation (AGF) seeking to make null and void the damages demanded by MTN.MTN had sued the government on grounds that the AGF lacked the power to deal with issues around tax and customs duties.In September 2018, the AGF had demanded that [...]

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    Glo gains over 400,000 new customers despite decline in total GSM subscribers

Glo gains over 400,000 new customers despite decline in total GSM subscribers

Globacom (Glo) has recorded the highest number of subscribers for the month of February, data by the Nigerian Communications Commission (NCC) has shown.In it’s monthly subscriber/operator data report for February, the regulatory body revealed that Glo added 400,879 new subscribers to it’s network for the month under review.The increase for Glo comes despite a reduction in active subscribers on [...]

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    MTN launches ‘affordable’ smartphone

MTN launches ‘affordable’ smartphone

MTN Nigeria has launched its first affordable smartphone powered by Kai Operating System (KaiOS).Speaking at the launch of the smartphone in Lagos, Rahul De, chief marketing officer (CMO) of MTN Nigeria, described development as a way of making smartphones affordable in the country and to also reach more people with internet services.“Affordability of smart phones is a major challenge in [...]

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    MTN sues Kogi, demands N5m over base station shutdown

MTN sues Kogi, demands N5m over base station shutdown

MTN Nigeria has dragged the Kogi state government to court over the lockdown of its base station in Lokoja, the state capital, since January 23.Tobechukwu Okigbo, MTN’s corporate relations executive, on Tuesday, announced that the telco is suing the state government N5 million for damages.The state government had shut down the station, leading to a disruption in services, over the alleged failure [...]

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    MTN pays $53m to settle CBN CCI dispute

MTN pays $53m to settle CBN CCI dispute

MTN Nigeria has paid the sum of $53 million (N19.2 billion) to settle a dispute with the Central Bank of Nigeria (CBN) over alleged irregularities of repatriated funds.Godwin Emefiele, CBN governor, made the disclosure during the apex bank’s monetary policy committee (MPC) meeting in Abuja on Tuesday.Emefiele said the money paid by MTN was a “notional sum” and that the [...]

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    Despite disconnection notice, NCC guarantees subscribers uninterrupted service

Despite disconnection notice, NCC guarantees subscribers uninterrupted service

The Nigerian Communications Commission (NCC) has guaranteed that telecommunications subscribers in the country will enjoy uninterrupted service. The assurance was given by Sunday Dare, NCC’s executive commissioner for stakeholder management. The commission had on Tuesday served a pre-disconnection notice to eight telecommunications companies over interconnect and facility debts owed Airtel, MTN and IHS. Dare said although the level of debt is “embarrassingly high”, the [...]

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    NCC grants telcos disconnection approval as interconnect ‘debt crisis’ worsens

NCC grants telcos disconnection approval as interconnect ‘debt crisis’ worsens

The Nigerian Communications Commission (NCC) has granted approval to Airtel, MTN and IHS to disconnect eight telecommunications operators over non-settlement of interconnect and facility charges.The commission gave the approval in a notice dated December 18, in line with the Nigerian Communications Act 2003.Interconnect debt arises when an operator fails to settle the cost of termination of service rendered to it [...]

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    UNICEF advocates adequate attention to nutrition

UNICEF advocates adequate attention to nutrition

BY CHARLES AKPEJIPiqued by the high rate of malnutrition in the north-eastern parts of Nigeria, the United Nations Children's Fund (UNICEF) has suggested that adequate attention should be given to the nutrition of women especially pregnant women to reduce severe and acute malnutrition .Journalists as also advocated by them, should as well come together in leadership to take actions on [...]

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    Zainab Ahmed’s comments good for MTN’s growth, says HSBC

Zainab Ahmed’s comments good for MTN’s growth, says HSBC

HSBC, one of the biggest financial services organisation in the world, says Zainab Ahmed, Nigeria's finance minister's comments are encouraging for the growth and valuation of MTN Group.In one of it investor advisory reports published in November, HSBC said the minister's comment at the 24th Nigerian Economic Summit (NES24) is a positive development for the telco.HSBC highlighted three positive developments, for [...]

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    MTN to acquire banking licence in Nigeria, says CEO

MTN to acquire banking licence in Nigeria, says CEO

Rob Shuter, the chief executive officer at MTN Group, says the group will acquire an independent banking licence in Nigeria by 2019.Speaking at a telecoms conference in Cape Town, South Africa on Tuesday, the MTN CEO said it will put in an application in December and should lunch the bank in second quarter 2019.“We will be applying for a payment service [...]

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    MTN sues FG for N3bn over $1.3bn tax default claim

MTN sues FG for N3bn over $1.3bn tax default claim

MTN Nigeria is seeking N3 billion in damages and legal costs from the federal government.The telco is challenging the legality of N242 billion and $1.3 billion import duties and withholding tax demanded from it.NAN reports that Wole Olanipekun, MTN’s lead counsel, on Thursday informed the federal high court of the various processes filed before it and served on respective parties [...]

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    CBN sanction: MTN to use 2016 senate report in court

CBN sanction: MTN to use 2016 senate report in court

MTN Nigeria says it will use the report of the 2016 senate investigation against the Central Bank of Nigeria in court. The court hearing of the case is already before the federal high court in Ikoyi. Saliu Saidu, the judge presiding over the case, after hearing submissions from lawyers on both sides on Tuesday adjourned the matter till December 4, 2018. "At the adjourned hearing in [...]

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    Report: Dangote responsible for over 10% of Nigeria’s GDP

Report: Dangote responsible for over 10% of Nigeria’s GDP

Aliko Dangote, Africa's richest man, and his conglomerate, the Dangote Group, have been reported to be responsible for over 10 percent of Nigeria's gross domestic product (GDP).The report, published by TIME Magazine, says Aliko Dangote is currently worth $14.1 billion, but his company's investment is responsible for much more than his net worth.According to the World Bank, Nigeria's GDP stood [...]

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    Despite sanctions, MTN subscriber base hits 225.4m

Despite sanctions, MTN subscriber base hits 225.4m

MTN, Nigeria's biggest telecommunications operator, says it has recorded a 2.5 million increase in user base, despite challenges in its biggest market, Nigeria.According to its latest report released on Monday, MTN said it added 2.5 million new subscribers to hit 225.4 million users in the quarter ended September, 2018.The company added that its mobile money customers grew by 1.7 million [...]

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Exchange Rates

June 14, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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