Tag Archives: MTN

MTN Group, the biggest telecommunication services company on the African continent, has successfully completed its listing on the Ghana Stock Exchange. In its quarterly report for the quarter ended on September 30, 2018, and released on Monday, the telco said its listing process in Nigeria is currently facing challenges from the Central Bank of Nigeria (CBN). “We successfully completed the listing of …

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The Central Bank of Nigeria, CBN, says it is reviewing the recent sanctions placed on MTN and four commercial banks. In a statement released Wednesday, September 19, 2018, the apex bank said the parties involved have submitted fresh documents in response to the sanctions. CBN had ordered MTN to refund $8.1 billion which it claimed the company repatriated using irregular …

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MTN Nigeria has gone to court to challenge the directive of the Central Bank of Nigeria (CBN) that the telecoms company should refund $8.134 billion illegally repatriated from the country and the demand by the Attorney General of the Federation (AGF) that it should pay $2 billion tax arrears to the federal government. In a suit at the Federal High …

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MTN Nigeria has denied its involvement in the illegal repatriation of dividends worth $8.1bn between 2007 and 2015. The telecoms company through its Public Relations Manager,  Funso Aina,  on Thursday, acknowledged the receipt of a letter from the Central Bank of Nigeria regarding the allegations on August 29, 2018. The company said it only declared and paid dividends with Certificates …

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MTN Nigeria, the largest network operator by subscriber number said it has since redirected its focus on capital expenditure (CAPEX), to investing more on data facilities rather than voice. The telecom company said it took the decision because it observed that Nigerian subscribers are fast shifting from voice communication to data communication. The telecoms company made the disclosure in Lagos …

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MTN Nigeria on Wednesday signed a seven-year N200bn medium-term loan facility with a consortium of 12 banks, with FBN Quest acting as the facility agent. The telecommunication company said the credit facility would allow it to fund its capital expenditure, roll out infrastructure and extend its reach to rural communities. According to the company, the facility is structured with a …

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The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta, has said that MTN must list on Nigerian Stock Exchange on or before May 2019 as contained in the agreement over the 2015 fine settlement between it and the telecom company. Speaking in an interactive session with newsmen in his office in Abuja recently, Danbatta also …

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The Securities and Exchange Commission (SEC) has said neither MTN Nigeria Limited nor any of its advisers or representatives has filed any application with the SEC regarding an Initial Public Offering (IPO). The Commission in a Circular in Abuja weekend signed by its Management, said its attention has been drawn to a publication in pages 1 & 38 of Business …

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Indications have  emerged that some Nigerian banks have began to lobby the managment of MTNGroup Limited, as the telecommunication  company  is set to appoint more banks for the sale of its shares in its Nigerian unit on the stock exchange in Lagos as it looks to start an initial public offering in June or July, westafricabusinessnews learnt. An inside sources, …

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MTN Group and Ecobank Transnational Incorporated have come together to provide mobile financial services across the various African countries where they currently operate. The partnership, which was announced on Tuesday in Lagos, would see MTN and Ecobank work together in delivering a distinct customer experience by providing value-added mobile financial products and services. The latest development would allow Ecobank and …

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