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MTN’s Repatriated $13.9Bn can Pull Nigeria Out of Recession – Saraki

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Dr Bukola Saraki, Senate President  said yesterday that the $13.9bn allegedly repatriated by MTN Nigeria was enough to pull the country out of recession.

Saraki disclosed this while opening the legislative hearing on the alleged repatriation of the funds by MTN, nation’s giant telecoms provider, in connivance with some Nigerian banks and individuals.

The investigative hearing is being conducted by the Senate Committee on Banking, Insurance and Other Financial Institutions.

The President of the Senate, who was represented by Mr. Olusola Adeyeye, majority Whip of the Senate, said that the amount involved was mind boggling.

He said, “The amount of money involved in the alleged repatriation by MTN could pull Nigeria out of recession.

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“We are duty bound to make sure that such breach of constitutional processes are investigated; be assured that this is not witch-hunt but a fact finding exercise.

“This 8th senate has devoted a lot of attention on legislations that will improve the business environment.

“This hearing goes to show this commitment and so we expect maximum cooperation from the regulatory authorities; failure to do so will mean culpability.

“We intend to get to the bottom of this and get the facts and nothing but the fact.

“At the end of this, based on the calibre of people that are here, Nigerian will get to know the truth about what transpired.”

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Saraki urged the committee to be thorough in their investigation.

In his opening remark, the Chairman of the Committee, Sen. Rafiu Ibrahim, said that the investigation was not a witch-hunt but an avenue to block loopholes and revenue leakages.

He berated the individuals, who did not honour the invitation of the senate, stressing that they would be handled appropriately.

Meanwhile, Sen. Dino Melaye, alleged that the crime of repatriating funds was not done by only MTN.

Melaye, who blew the whistle on MTN on the alleged repatriation, said that a number of multinational companies were also engaging in repatriation of funds.

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He expressed hope that those companies which had been engaging in the repatriation would also be uncovered by the investigation.

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Telecom

Fixed Wired Internet Market Lags as Mobile Gains Ground

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Nigeria has exactly 156,662 active fixed wired internet subscriptions as of mid-2026.

Fixed Wired Internet Market Lags as Mobile Gains Ground

This is a tiny fraction compared to mobile GSM networks, which dominate the market with over 154 million subscribers.

The fixed wired market primarily consists of homes and offices using direct physical cables like fiber optics.

Fixed wired services use physical cables, like glass fiber or copper wire, to bring internet directly into a building.

It is like  a dedicated, private water pipe for your home. It provides very fast speeds, unlimited data, and is reliable.

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In contrast, mobile GSM uses radio waves transmitted from tall towers to phones, acting more like a sprinkler that sprays a signal across an entire neighborhood.

Because laying physical cables across cities is expensive and hard to do, these subscriptions are very rare.

However, the market has seen recent growth, driven largely by Fiber-to-the-Home (FTTH) services.

The top players are: MTN FibreX with 110,564 subscribers, which is roughly 88.7 per cent of the entire market.

SWIFTNG accounts for about 13,945 connections.

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The others are  ipNX and 21st Century Technologies which make up the number.

 

 

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NCC Seeks Cost-Based Pricing Framework for Ducts

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Nigerian Communications Commission (NCC) has said that it was strengthening collaboration with state governments and industry players to develop a transparent, cost-based pricing framework for sharing telecom ducts as part of efforts to speed up broadband expansion across Nigeria.

NCC Seeks Cost-Based Pricing Framework for Ducts

Ayuba Shuaibu, director of Policy, Competition and Economic Analysis, NCC, disclosed this at the Stakeholders’ Forum in Abuja.

Shuaibu said the initiative was designed to build consensus among all parties.

“The primary purpose of this forum is to ensure seamless synergy between the Commission and all stakeholders,” he said.

The director said the consultation was prompted by longstanding complaints over permits, levies and other charges imposed by different levels of government.

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He said bringing together state commissioners, telecom operators, tower companies and representatives of the Nigeria Governors’ Forum had helped improve understanding of the issues.

“This engagement is a work in progress. We expect more input from stakeholders before presenting the outcome to the Nigeria Governors’ Forum,” he added.

Dr Helen Adeneye, commissioner for Innovation, Science and Technology, Kogi State. welcomed the consultation, saying Nigeria needs a harmonised policy that clearly defines the responsibilities of both the federal and state governments.

“We need a harmonised policy that allows states to collaborate better with telecom operators and creates a more business-friendly environment,” she said.

Dr Adeneye added that adopting the Dig-Once policy would establish a uniform pricing system and help resolve disputes over charges for telecom infrastructure deployment.

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Chidi Ajuzie, chief executive officer, WTES Projects Limited,  whose firm is conducting the consultancy study, said the proposed framework would introduce a common cost structure for duct sharing to support broadband investment and economic growth.

“The study is designed to create a uniform pricing model that will drive broadband growth, economic development and wider adoption across the country,” he said.

Ajuzie explained that the consultants had developed preliminary floor and ceiling prices to guide operators while allowing flexibility within the approved range.

He added that the recommendations remain open to industry input before the NCC finalises the framework.

The Dig-Once Policy is designed to reduce the cost and disruption of deploying broadband infrastructure by requiring fibre ducts to be installed whenever roads are constructed or rehabilitated.

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The NCC is developing a cost-based pricing framework for sharing these ducts to promote fair pricing, reduce duplication of infrastructure and encourage investment.

The proposed model is expected to support the Federal Government’s broadband expansion targets while improving collaboration between telecom operators and state governments.

 

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MUSON Graduates Shine at 2026 Concert as MTN Foundation Celebrates 20 Years of Music Scholarships

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Emeka Nwodike, acting director of the MUSON School of Music, conducted the institution’s graduating class in a grand finale performance, bringing the 2026 graduation concert to a memorable close. The concert took place on July 7 at the Shell Hall of the MUSON Centre, Onikan, Lagos.

MUSON Graduates Shine at 2026 Concert as MTN Foundation Celebrates 20 Years of Music Scholarships

The event celebrated students who successfully completed the MUSON Diploma Programme through the MTN Foundation Scholarship Programme.

The graduating students delivered a rich choral repertoire that reflected the breadth of their musical training, performing Italian Salad by Richard Genee, My Song by Eriks Esenvalds, Obi Dimkpa by Laz Ekwueme, and an ABBA Medley arranged by Goran Bejstam. Under the Acting Director’s baton, the choir demonstrated technical precision, vocal maturity and artistic expression before an audience of family members, music enthusiasts and industry stakeholders.

The concert formed part of the long-running partnership between the MTN Foundation and the Musical Society of Nigeria (MUSON), which has, since 2006, provided scholarships for hundreds of talented young Nigerians to receive formal music education through the MUSON Diploma School. The programme continues to serve as one of the country’s foremost platforms for developing professional musicians and strengthening Nigeria’s creative economy.

Speaking at the close of the concert, Nwodike expressed appreciation to the MTN Foundation for its sustained support of the scholarship programme over the past two decades. He also thanked the Director of the MUSON Centre, faculty members, mentors and other stakeholders whose dedication has contributed to the school’s continued success.

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“For nearly 20 years, the MTN Foundation has remained a steadfast partner in our mission to nurture young musical talent. We are deeply grateful for that commitment. I also want to thank the Director of the MUSON Centre, our faculty, mentors and everyone whose dedication has helped the MUSON School of Music continue to grow and thrive. Their support has made this programme what it is today, and our graduates are a testament to that collective effort,” he said.

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