Saturday, September 22, 2018

Tag "MTN"

    Shoprite: Growth has slowed down due to lack of retail space in Nigeria

Shoprite: Growth has slowed down due to lack of retail space in Nigeria

The management of Shoprite, popular South African retailer, says it will only open two stores in Nigeria over the next 15 months due to lack of retail space.Pieter Engelbrecht, the retailer's chief executive, told Reuters in an interview that it could have opened as much as 13 stores but for space constraint."Look, at Nigeria with the new legislation there where [...]

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    More GSM subscribers, less for internet… How telecoms companies fared in Q4

More GSM subscribers, less for internet… How telecoms companies fared in Q4

The number of mobile telecommunication subscribers in Nigeria increased by 1.24 million to stand at 154.53 million in December 2016.This is according to figures released by the Nigerian Bureau of Statistics (NBS) on Tuesday.In its report, the NBS said that although growth in the telecommunications sector remained positive, year on year growth dropped in real terms from 1.5% in the [...]

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    Shittu: We must encourage MTN, not scare them away

Shittu: We must encourage MTN, not scare them away

Adebayo Shittu, minister of communications, wants Nigerians to encourage MTN, a telecommunications company, and not scare it away from the country.Shittu said MTN is important to Nigeria and the presumption is that they are innocent of the latest allegations levelled against the company.After being fined N330 billion for failing to deactivate more than 5 million unregistered sim cards, MTN faces another potential hefty fine [...]

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    MTN describes Oyagbola’s resignation as a big loss

MTN describes Oyagbola’s resignation as a big loss

Fredi Moolman, MTN Nigeria’s chief executive officer (CEO), has described the resignation of Amina Oyagbola as a big loss to the telecommunications company.Before her resignation, Oyagbola was in charge of the company's human resource and corporate services.Moolman commended her for the expertise she brought to the job."MTN has again commended the immense dedication and passion for excellence which Amina Oyagbola [...]

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    MTN has paid N80bn of N330bn fine, says FG

MTN has paid N80bn of N330bn fine, says FG

The federal government says MTN had paid N80 billion of the N330 billion fine imposed on it for failing to deactivate more than five million unregistered SIM cards.Adebayo Shittu, minister of communications, disclosed this at a forum organised by NAN in Abuja.He said the company paid the sum for the first year.MTN was initially fined 5.2 billion dollars (N1.04 trillion) but [...]

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    EXCLUSIVE: NCC directs mobile operators to increase data tariffs

EXCLUSIVE: NCC directs mobile operators to increase data tariffs

The Nigeria Communication Commission (NCC) has directed mobile operators to initiate a new data tariff regime from December 1, 2016 in what is effectively a price increase.In a letter to mobile operators dated November 1 and seen by TheCable, the regulator stated that the interim floor price for data services was 0.90k/MB for big operators, and that "this rate will [...]

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    ‘Cheaper connectivity’ as MTN tests Facebook’s voyager

‘Cheaper connectivity’ as MTN tests Facebook’s voyager

The MTN group says it is the first mobile operator in the world to use the open optical packet transport platform, known as Voyager, after joining the Telecom Infra Project (TIP) earlier this year.According to MTN: "The TIP initiative, which was launched in February 2016, is a global endeavour which brings together key stakeholders in the telecoms and technology space [...]

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    CBN ‘orders’ banks to suspend payment of MTN dividends

CBN ‘orders’ banks to suspend payment of MTN dividends

The Central Bank of Nigeria (CBN) has ordered the suspension of MTN Group dividend payment from the Nigerian subsidiary of the telecommunications giant, until further notice.In a quarterly update to shareholders, MTN Group said it was not guilty of the illegal repatriation charges levelled against it by the Nigerian senate, stating that the claims are totally unfounded and without merit.Addressing [...]

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    It was impossible to follow the law on repatriated $13.9bn, says MTN

It was impossible to follow the law on repatriated $13.9bn, says MTN

MTN Nigeria says it was impossible to follow the provisions of the law on the issuance of Certificates of Capital Importation (CCI) before moving out $13.9 billion out of the country.Dino Melaye, senator representing Kogi west federal constituency, had accused the telco of flouting Nigerian laws by failing to obtain a (CCI) as authorised by CBN Financial and Miscellaneous Act within [...]

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    Senate threatens to ‘invoke powers’ against Enelamah

Senate threatens to ‘invoke powers’ against Enelamah

The senate has threatened to come down hard on Okechukwu Enelamah, minister of industry, trade and investment, over his failure to participate in the investigative hearing on the alleged illegal repatriation of $13.92billion out of the country by MTN.The minister, who owns CELTELCOM and is said to have invested in MTN, was to explain before the senate committee on banking, [...]

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    Melaye: Those who know me know that I’m a private investigator and whistle-blower

Melaye: Those who know me know that I’m a private investigator and whistle-blower

Dino Melaye, the senator representing Kogi west at the national assembly, says those who have followed his records know he is a private investigator and a whistle-blower.Melaye said this on Thursday at an investigative hearing into his allegation that MTN, a telecommunications firm, colluded with Okechukwu Enelamah, minister of industry, trade and Investment, to illegally move $13.92billion out of he country, between [...]

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    Those asked to leave were offered fresh opportunities, says MTN

Those asked to leave were offered fresh opportunities, says MTN

MTN Nigeria has broken its silence on reports that it recently dismissed many workers.The company, which said the reports were inaccurate, explained that that those affected were offered the opportunity to join new call centres.Amina Oyagbola, an executive of MTN, explained that the organisation’s call centre operations had been outsourced since 2008, and that the recent exercise was the “second [...]

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    Melaye: Trade minister helped MTN move $13.92bn out of Nigeria illegally

Melaye: Trade minister helped MTN move $13.92bn out of Nigeria illegally

Dino Melaye, the senator representing Kogi west at the national assembly, has accused Okechukwu Enelamah, minister of industry, trade and investment, of colluding with ‎MTN to illegally move $13.92billion out of Nigeria.Melaye alleged that the money was moved out of the country between 2006 and 2016.In a motion on the floor of the senate on Tuesday, the legislator also‎ reeled off the [...]

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    We didn’t bribe anyone to slash NCC fine, says MTN

We didn’t bribe anyone to slash NCC fine, says MTN

Ferdi Moolman, chief executive officer of MTN, on Friday said the telecommunications giant did not give bribe for the reduction of the N1.04 trillion fine which the Nigerian Communications Commission (NCC) imposed on the company for infraction.Moolman said his response was based on an online report, alleging that a top official in the presidency took bribe from the company to [...]

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    MTN posts record loss as Nigerian subscribers sink to 59m

MTN posts record loss as Nigerian subscribers sink to 59m

MTN Group, Africa’s biggest telecommunications network, posted a $357 million half-year loss, as its Nigerian subscriber base fell to 58.9 million in 2016.MTN Nigeria subscribers decreased by 3.7 percent, while the its revenue and EBITDA fell by 4.8 percent and 7.5 percent respectively.“MTN Nigeria continued to experience a challenging operating environment impacted by the disconnection of the final batch of [...]

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    MTN’s Visafone kicks off test-run of 4G internet services

MTN’s Visafone kicks off test-run of 4G internet services

Visafone, MTN Nigeria’s subsidiary, has kicked off the test-run of its Fourth Generation Long Term Evolution (4G LTE) internet technology service for smart phone users.According to the telecoms company, the launch of 4G LTE services by the merged entity of MTN and Visafone will roll out superior high-speed internet services in major cities.The network added that this will also empower [...]

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Exchange Rates

September 21, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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