Saturday, July 20, 2019

Tag "MTN"

    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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    MTN records first ever loss in history, blames it on NCC fine

MTN records first ever loss in history, blames it on NCC fine

MTN Group just recorded its first-ever earnings per share (EPS) loss as a publicly traded company — a loss it blamed on the Nigerian Communications Commission (NCC) N330 billion fine.In a statement released on Thursday, MTN said it would announce the half year results on Friday, but it gave shareholders a heads-up on the coming loss.“Following the trading statement published on [...]

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    What MTN’s acquisition does to your N15,000 Visafone device

What MTN’s acquisition does to your N15,000 Visafone device

In January 2016, MTN  Nigeria acquired visafone, the only surviving Code Division Multiple Access (CDMA) network in Nigeria’s telecommunications industry.The acquisition was approved by the Nigeria Communications Company (NCC) in December 2015 in what seemed like a buy into the expansion of broadband reach from an existing eight percent as of the time of acquisition to a target of 20 percent in [...]

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    MTN set for first H1 loss in 20 years as NCC fine cuts profit

MTN set for first H1 loss in 20 years as NCC fine cuts profit

MTN Group is set for the first half-year (H1) loss in at least 20 years as the Nigerian communications Commission (NCC) N330 billion fine cuts its profit drastically.In a statement on Friday, MTN told shareholders to expect “negative basic headline earnings per share (HEPS) and basic earnings per share (EPS) for HY2016”.In the first half of 2015, MTN reported headline [...]

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    Goschen, MTN’s group chief financial officer, resigns

Goschen, MTN’s group chief financial officer, resigns

Brett Goschen, MTN's group chief financial officer, is to step down in September after more than a decade at Africa's biggest telecoms operator, the company said on Monday.In a statement, the company in Johannesburg said Brett Goschen had held the position since 2013.According to MTN, its Rwanda chief executive, Gunter Engling, will assume the position of acting group CFO on [...]

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    MTN pays fresh N30bn of N330bn fine… wins NCC’s ‘superior’ internet auction

MTN pays fresh N30bn of N330bn fine… wins NCC’s ‘superior’ internet auction

MTN Nigeria says it has paid N80 billion out of its reviewed N330 billion fine, handed down by the Nigerian Communications Commission (NCC) in October 2015.The telco has also been declared by NCC as the winner of its auction for a 10-year frequency spectrum licence for the 2.6GHz band, which is expected to “guarantee superior performance for wireless networks, especially 4G" internet [...]

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    MTN, Access Bank, business leaders host roundtable on work-life balance

MTN, Access Bank, business leaders host roundtable on work-life balance

Pascal Dozie, chairman MTN Nigeria, and Herbert Wigwe, MD/CEO, Access Bank Plc, will be leading a host of business leaders to a roundtable on work-life balance.Dozie (pictured), who is also the co-chair, Nigerian Business Coalition Against AIDS (NiBUCAA), will engage professionals on the realities of work-life balance.The leaders, who would be from different organisations in the country, will be hosted [...]

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    We slashed MTN fine to encourage foreign investments, says FG

We slashed MTN fine to encourage foreign investments, says FG

Adebayo Shittu, minister of communications, on Sunday said the $5.2billion fine slammed on telecommunication giant, MTN, was reduced to encourage foreign investments in the country.Shittu said this in Ibadan at an award ceremony in honour of Lekan Balogun, the Otun Olubadan of Ibadanland.He said the federal executive council (FEC) decided to reduce the penalty against the telecommunications giant after realising [...]

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    Reps say slashing MTN fine illegal, summon AGF, NCC boss

Reps say slashing MTN fine illegal, summon AGF, NCC boss

The house of representatives committee on communications says slashing MTN Nigeria’s fine from N1.4 trillion to N330 billion is illegal.The committee, led by Saheed Akinade-Fijabi, has summoned the Umar Danbatta, a professor and the executive vice chairman of Nigerian Communications Commission (NCC); Adebayo Shittu, minister of communications; and Abubakar Malami, minister of justice and attorney-general of the federation.According to Akinade-Fijabi, [...]

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    MTN agrees to pay N330bn over 3 years

MTN agrees to pay N330bn over 3 years

After an eight month long negotiation, the federal government has slashed the fine imposed on MTN to N330 billion, and the organisation has agreed to pay the amount.The sum is a third of N1.04 trillion penalty MTN got from the Nigerian Communications Commission (NCC) for failing  to comply with a directive to disconnect 5.1 million improperly registered lines.According to Tony Ojobo, [...]

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    House of reps probe, uncertainties ‘sink’ MTN shares

House of reps probe, uncertainties ‘sink’ MTN shares

MTN Group shares fell after the house of representatives suspended the negotiation of the company’s outstanding $3.9 billion fine, brewing uncertainties.The stock declined as much as 2.9 percent, the most since May 12, trading 1.5 percent lower at 126.50 rand Monday morning, valuing the company at $15 billion (233 billion rand), Bloomberg is reporting.The shares have plunged almost 35 percent [...]

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    NCC suspension over, MTN can now review tariff plans

NCC suspension over, MTN can now review tariff plans

MTN Nigeria on Tuesday confirmed that it had received permission of the Nigerian Communications Commission (NCC) to either raise or reduce its tariff plans.In a statement obtained by TheCable, MTN group said NCC lifted suspension on regulatory services, which was imposed in October 2015.“We refer to our SENS announcement dated 3 March 2016 where we noted that regulatory services to MTN [...]

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    You’re treading on a tiger’s back, reps warn MTN

You’re treading on a tiger’s back, reps warn MTN

Johnson Agbonayinma, a member of the telecommunications committee of the house of representatives, says MTN “is treading on a tiger’s back”.Expressing dissatisfaction with the refusal of Ferdinand Moolman, MTN’s chief executive officer (pictured), to honour the summons of the committee, he said Nigeria's interest in attracting investors should not encourage disregard for the law.He said the house had mandated the [...]

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    We are still negotiating with FG, says MTN

We are still negotiating with FG, says MTN

Ferdi Moolman, chief executive officer of MTN Nigeria, says the company is still negotiating with the federal government over the fine imposed on it by the Nigerian Communications Commission (NCC).Moolman described the reports that the telecommunications outfit had proposed N300 billion payment as premature.“The management of MTN Nigeria is aware of the reports on the settlement negotiations,” he said in [...]

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Exchange Rates

July 12, 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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