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MTN Nigeria - Page 3

MTN Shareholders, Karl Toriola Lose N581.57bn Within Three Days

Data Boom Fuels MTN’s ₦2.99tn H1 Revenue as Nigerians Spend ₦1.7tn on Internet Services

July 31, 2026

MTN Nigeria recorded ₦2.993 trillion in revenue in the first half of 2026, as rising demand for mobile internet services propelled earnings and reinforced data’s position as the company’s biggest source of

Nigeria's Economic Independence Struggle: The Foreign Telecom Giants, Naira's Dilemma

Business News·Top Stories

Holding MTN Nigeria Shares More Profitable Than Owning Airtel Shares

May 27, 2026

In the first quarter (Q1) of 2026, equity traders in the Nigerian Exchange (NGX), also known as the stock market, favoured MTN Nigeria’s shares over its market rival, Airtel Africa. According to

From Millionaire To Billionaire: MTN's Bullish Run Changes Karl Toriola's Net Worth Status

Business News·FEATURES·Top Stories

MTN Nigeria’s CEO Karl Toriola Increases Stake, Now Holds N3.68bn Investment In Telco

April 6, 2026

The group managing director (GMD) and chief executive officer (CEO) of MTN Nigeria, Karl Toriola, has increased his shareholding in the telecommunications company. Toriola increased his shareholding by 761,788 shares in 2025,

Business News·News·Technology·Top Stories

Nigeria Reviews MTN Group’s Acquisition of IHS Towers Over Sector Impact

February 17, 2026

The Federal Government has said it will undertake a comprehensive assessment of the reported acquisition of IHS Towers by MTN Group, citing the strategic importance of telecommunications infrastructure to Nigeria’s national security,

Business News·Top Stories

MTN Shareholders, Karl Toriola Lose N581.57bn Within Three Days

December 26, 2025

MTN Nigeria chief executive officer, Karl Toriola, and the network provider’s shareholders lost a total of N581.57 billion within three days, Monday, December 22, and Wednesday, December 24, according to Prime Business

Business News·Top Stories

MTN Nigeria Earns N1.22trn From Data Sale In Six Months

August 4, 2025

In the second quarter (Q2) of 2025, MTN Nigeria generated N1.31 trillion in revenue, surpassing the N786.13 billion recorded in the same period in 2024, representing an increase of 67.88 percent. A

News

Roaming Agreement With MTN: A Bold Resurgence For 9Mobile, Says CEO Banigbe

July 4, 2025

CEO of 9Mobile, Obafemi Banigbe, has said the national roaming agreement with MTN Nigeria marks a bold resurgence for the telecom company. MTN Nigeria Communications Plc and Emerging Markets Telecommunications Services Limited

Business News·Top Stories

MTN Nigeria Shareholders Lose N104.97bn After Board Member Sells Off Shares

May 26, 2025

MTN Nigeria shareholders lost N104.97 billion combined within five days after Eyitope Kola-Oyeneyin, a board member, sold her stake in the telecommunications company on Monday, May 19. Kola-Oyeneyin sold the shares five

Business News·Top Stories

MTN Nigeria Records N1trn Revenue In Three Months — After Raising Data Prices

April 30, 2025

MTN Nigeria’s total revenue hit N1.05 trillion in the first quarter (Q1) of 2025, surpassing the N752.98 billion recorded between January and March 2024 by 40.5 percent. In its unaudited financial results

Markets

MTN Investors Earn N944bn In Three Months As Airtel’s Shareholders Record Zero

April 16, 2025

MTN Nigeria investors had much to celebrate at the end of the first quarter in 2025 compared to shareholders of their market rivals, Airtel Africa. According to Prime Business Africa’s analysis of

Business News·Technology

Renewal Of MTN Nigeria Spectrum Lease With NTEL Boosts Connectivity Across States

December 26, 2024

Following approval by the Nigerian Communications Commission (NCC), MTN Nigeria Communications PLC (MTN Nigeria) has renewed its spectrum lease agreement with Natcom Development and Investment Limited (NTEL). This extension builds on a

Financial Obligations Force MTN Nigeria To Borrow N125bn From Commercial Paper Investors

Business News·News

MTN MoMo PSB Revenue Rises By 8.1%, As Active Wallet Users Hit 5.3 Million In 2023

March 3, 2024

MTN Nigeria has announced that revenue from its MoMo Payment Service Bank (PSB) increased by 8.1 per cent while active customers enrolled on the wallet platform reached 5.3 million by December 2023.

News

NCC Halts Impending Telecom Disruption As MTN, Glo Reach Agreement

January 18, 2024

Nigerian Communications Commission (NCC) has announced the suspension of the disconnection of Globacom Limited by MTN Nigerian Communications Plc. due to a lingering interconnection debt dispute.

MTN Service Down Time Caused By Damaged Undersea Cables

Business News

MTN Plans Financial Expansion With N52.895bn Recapitalization

November 3, 2023

MTN Nigeria has announced its plans to issue two series of commercial papers valued at N52.895 billion, signaling a strategic move to diversify its financing options. The company’s Secretary, Uto Ukpanah, confirmed

Business News

MTN Records 75.7% Decline On PBT In Q3

October 30, 2023

MTN Nigeria Communications Plc reported a 75.7% decline in its profit before tax (PBT) for the third quarter of 2023, amounting to N32.08 billion. This contrast with the N132.04 billion recorded in

Business News·News

Tribunal Orders MTN To Pay $72.5m For Tax Evasion, Exempts Penalties, Interest

October 26, 2023

The Lagos Zone Tax Appeal Tribunal has ordered MTN Nigeria Communications to pay a sum of $72,551,059 million, an equivalent of N59, 298,475,000 billion back taxes to the Federal Inland Revenue Services

Business News

Financial Obligations Force MTN Nigeria To Borrow N125bn From Commercial Paper Investors

August 31, 2023

MTN Nigeria said its commercial paper issuance was oversubscribed in the capital market, leading to the company raising N125 billion, a statement released to the Nigerian Exchange Limited disclosed. The telecommunications company

Business News

MTN Nigeria To Raise N100bn Through Unsecured Commercial Paper

August 17, 2023

Telecommunications company, MTN Nigeria, has disclosed its intention to raise N100 billion through an unsecured promissory note, commercial paper. In a corporate document released to the capital market authority, Nigerian Exchange Limited

Business News

Banks Adopt Plan To Repay MTN, Airtel, Others N120bn USSD Debt

August 9, 2023

Deposit Money Banks (DMBs) have adopted a repayment plan to resolve their faceoff with telecommunications firms over the use of the Unstructured Supplementary Service Data (USSD) service by the banks’ customers. The

Business News

MTN Nigeria Experiences Glitches, As Pro-Niger Hackers Attack Firm’s Network

August 4, 2023

MTN Nigeria’s network was attacked by Pro-Nigerien hackers, Anonymous Sudan, on Wednesday. This was revealed by the hackers and an official in the network provider. Anonymous Sudan said it attacked the network

Business News·Insights

Data War Analysis: Globacom Loses Data Market Share, Over 300,000 Subscribers Stop Using 9mobile Internet Service

July 20, 2023

MTN Nigeria and Airtel outperformed Globacom and 9mobile in the first five months of 2022, as the telecommunications industry recorded a 4.76 million increase in the number of active data subscribers. The

Business News

Data Prices, Airtime Tariff Set To Rise, As MTN, Airtel, Others Review Costs

June 27, 2023

MTN Nigeria, Airtel Africa and other telecommunications companies under the telco group, Association of Licensed Telecoms Operators of Nigeria (ALTON), have revealed they are planning to increase prices of data and call

Technology

MTN Leads As 6,855 Subscribers Ported In Q1

May 24, 2023

Nigerian Communications Commission (NCC) has released data indicating a notable movement of subscribers across mobile networks in the first quarter of this year.

Business News

Seplat Energy, Total Lead List Of Highest Paying Companies In Nigeria

May 24, 2023

The personnel expenses of major Nigerian companies have increased to about N1 trillion in 2022, rising from N900 billion the year before, as the workforce skyrocket across several sectors. Note that the

NCC Issues New Customer Guidelines To Network Providers, To Deactivate Unused Phone Lines

Business News·Insights

MTN Nigeria, Airtel Lose Over 600,000 Call Subscribers To Glo, 9mobile

May 19, 2023

The number of active telephony subscribers in Nigeria fell in the first quarter of 2023 by 58,900 or 0.02 per cent, according to the telecommunications industry’s data analysed by Prime Business Africa. At

Business News

Trillionaire Club: Five Most Valuable Companies In Nigeria Worth N19.32 trillion

May 5, 2023

The trillionaire club is not for everyone, nor is it for every company. Only a handful has made it to this exclusive list out of the over 150 companies publicly listed in

Business News·Technology

MTN Nigeria’s Fintech Business Grows By 1.2m Active Wallets In Q1

May 3, 2023

Highlights – MTN Nigeria’s MoMo PSB recorded a 1.2 million increase in active wallets in Q1, bringing the total to 3.2 million. – The company expanded its agent network to approximately 264,000

Naira Vs Dollar: What To Expect This Week (2nd - 6th June 2025)

Business News·Currency

Naira To Dollar Exchange Rate Hit N462, MTN, 11 Plc CEOs Lament

April 28, 2023

The Naira extended its gain against the United States Dollar to the third day of trading in the official market, as the foreign exchange (forex) rate between both currencies closed at ₦462/$1

Business News·Markets

Over N421.07 billion Lost By Investors In MTN Nigeria, Transcorp Hotels, Others

April 17, 2023

With over N421.07 billion lost on Monday, 17 April 2023, the Nigerian stock market capitalisation dwindled from N28.26 trillion reported on Friday, 14 April, to N27.84 trillion. The All-Share Index shrank by 773

Business News

MTN Nigeria Reduces Share Price Amid New Dividend Plan For Shareholders

April 6, 2023

MTN Nigeria has disclosed that shareholders who vote for its Scrip Dividend Election Plan at its upcoming annual general meeting (AGM) will be given a discount price for its shares. In a

Business News·Insights

How MTN Nigeria Investors Lost N742.93 billion In Two Days

As the capital market nosedive, investors in MTN Nigeria are counting their losses, as shareholders investment in the telecommunications company depreciated significantly. Within two days, MTN Nigeria investors lost -15.9% of their investment due to sell off among shareholders, reflecting dwindling confidence

July 26, 2022

Elon Musk Joins Network Operator To Offer Smartphone Service Under Water, Remote Areas

Business News

Elon Musk Says His Internet Company, Starlink, Will Compete With MTN In Nigeria From August

Internet company, Starlink, owned by world richest man, Elon Musk, will commence operation in Nigeria next month, three months after receiving operational approval from the Nigerian government. Musk disclosed that by August, Starlink’s service will go live in Nigeria, competing against existing

July 25, 2022

Business News

10 Highest Paying Nigerian Companies In 2021

The top ten highest paying companies per staff in Nigeria as of 2021 is dominated by commercial banks or financial institutions, with MTN, Seplat and Lafarge leading the list, which showed 50 largest companies in the country paid N846.88 billion as salary.

June 28, 2022

Business News

Airtel, MTN, 9mobile Are Biggest Losers, As Nigerians Leave Network For Rivals

In the last four months, Airtel, 9mobile and MTN Nigeria were the biggest losers in the telecommunications market, as over 15,000 network users left one telco to the other, using the porting channel. The porting channel is used by subscribers who don’t

June 7, 2022

Business News·Top Stories

Nigerians Tired Of MTN, Glo, Airtel, Can Now Order For Elon Musk’s Internet Service, Starlink

The internet company, Starlink, owned by billionaire, Elon Musk, can now be booked by Nigerians, as the network provider is now available in 32 countries around the world. Countries are now placed under three categories, “Available”, “Wait list” and “Coming soon”, according

June 2, 2022

Business News

Data war: Over 100,000 data users dump 9mobile, as MTN, Airtel, Glo gain big

9mobile was the only loser among the top four telecommunications companies in the industry’s data war, as over 100,000 subscribers left the network provider, despite 1.54% growth in the telco industry’s total subscriber base. According to analysis of the market data for

June 2, 2022

Business News·News

MTN, Airtel Subscribers Spent N615.08bn On Calls, Data In Q1 2022

There has been increase in voice and data usage as data from financial statements of two telecommunication giants, MTN Nigeria Communications Plc and Airtel Nigeria revealed that their subscribers spent about N615.08bn on that in the first quarter of 2022.

May 16, 2022

News

Airtel, MTN Offer Free Calls To Ukraine

As the humanitarian crisis in Ukraine caused by Russia's military invasion, worsens, two telecommunication giants in Nigeria, Airtel and MTN have announced free internationals calls and SMS to Ukraine as a form of support to Nigerian customers who have friends and family

March 5, 2022

News

MTN notifies customers of potential service disruption

Some enterprise customers of MTN Nigeria have been notified about a potential service disruption to enable them to put in place business continuity measures, the company said on Wednesday. The firm, a local unit of South Africa’s telecoms group MTN, runs Nigeria’s

June 17, 2021

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