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MTN Targets $1Bn from Nigeria, Ghana Listing

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MTN could raise a total of US$1bn when it lists on both the Nigeria and Ghana stock exchanges later this year.

According to Kofi Yamoah, CEO, Ghana Stock Exchange (GSE)  MTN Ghana will officially introduce 35% of its capital into the GSE by the end of Q1 2018.

Yamoah said MTN Ghana has already submitted the necessary documents for review. “We believe that at the end of the first quarter, we will see the public offering of this entity take off.”

MTN was supposed to list in 2017, but the process was delayed. The decision to list on the GSE was reached as a condition for the acquisition of a 15-year US$67m 4G license in 2015.

Ebenezer Asante, CEO of MTN Ghana, said, “It’s very clear from the license that 35% of MTN should be moved into Ghanaian hands and since we required the license we have engaged the regulators both in the NCA as well as the Central Bank and also with the Securities and Exchange Commission.”

In Nigeria, MTN has set a June 2018 deadline for its IPO which is expected to be the biggest on the Nigerian Stock Exchange (NSE). The decision to list on the NSE was reached in June 2016 during negotiations on the industry record fine slammed on the operator after it failed to disconnect unregistered subscribers from its network as directed by the Nigerian Communications Commission (NCC).

The NCC recently disclosed that MTN has only paid one-third (N110bn) of the sum (N330bn). Regional media have reported that the company could raise at least N153bn through the local bourse – although the operator has refused to confirm this.

At an NSE briefing on the Nigerian stock market in 2017 and outlook for 2018, Oscar Onyema, CEO of NSE, confirmed the NSE is working with MTN on the listing. The Securities and Exchange Commission (SEC) has also discussed the IPO and how it could be structured.

Former President of the Independent Shareholder Association of Nigeria (ISAN), Sir Sunny Nwosu, believes that the listing could bring about a turnaround in the outlook of the Nigerian stock market and he enjoined the operator to ensure that small investors are able to access the stock.

Bloomberg reported that Standard Bank Group and Citigroup are advising MTN on selling 30% of MTN Nigeria on the NSE.

While MTN Nigeria is not commenting on the deal, it recently held a two-day board meeting attended by Group Chief Executive, MTN, Rob Shuter, to discuss the IPO.


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Telecom

Reps Approve NCC’s N479.508Bn Budget for 2026

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House of Representatives, during Tuesday’s plenary, approved the sum of N479.508 billion budget for the Nigerian Communications Commission (NCC) for the 2026 fiscal year.

Reps Approve NCC’s N479.508Bn Budget for 2026

The resolution was passed after the clause-by-clause consideration of the report at the Committee of Supply.

While giving synopsis of the report,  Peter Akpatason, chairman, House Committee on Communications, explained that the total sum of N479,508,260,000 is to be issued from the Statutory Revenue Fund of the Nigerian Communications Commission.

Out of the issued sum, N124,440,652,000 is meant for Recurrent Expenditure; N26,779,045,000 is for Capital Expenditure; N32,011,492,000 is for Special Projects, while the sum of N20 billion is for Transfer to Universal Service Provision Fund (USPF), N276,277,071,000 is for Transfer to Federal Government for the financial year ending 31st December, 2026.


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NCAN Commends NCC for Mandating Telcos to  Compensate Subscribers for Poor Services

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National Consumers Advocacy Network (NCAN), a  consumer advocacy group focused on protecting the rights of consumers, has commended the Nigerian Communications Commission (NCC),for introducing a policy compelling telecom operators to compensate subscribers for poor network service.

NCAN Commends NCC for Mandating Telcos to  Compensate Subscribers for Poor Services

In a statement issued on Tuesday and signed by Dr Tobi Olanrewaju, its president, the group described the directive as a bold and consumer-focused intervention.

The group noted that the move, which has already seen major telecom operators begin compensating subscribers with airtime credits, marks a shift from what it described as regulatory leniency to measurable accountability.

“For years, Nigerian telecom subscribers have endured suboptimal service quality with little or no consequence for operators,” the statement read.

“What we are witnessing under Dr Aminu Maida is a clear assertion that regulatory oversight must translate into tangible benefits for consumers. This is not merely about compensation; it is about restoring trust in the system.”

According to Olanrewaju, the policy’s provision for automatic compensation without requiring subscribers to lodge complaints demonstrates a strong understanding of the challenges faced by many Nigerians.

“This intervention acknowledges a fundamental principle that the burden of service failure should not rest on the consumer,” he said.

He added that linking compensation directly to actual service disruptions at the local level sets a new standard in regulatory practice.

The group also praised the Commission’s decision to monitor service quality at the Local Government Area level, describing it as a step towards capturing real user experiences rather than relying on general national data.

Olanrewaju further commended the Commission’s simultaneous push for telecom operators to invest in network upgrades, noting that the approach addresses both immediate and long-term concerns.

“While consumers receive immediate value for past deficiencies, the root causes of poor service are being systematically addressed,” he said.

The advocacy group urged telecom operators to embrace the directive as an opportunity to rebuild consumer trust and improve service delivery.

It also called on other regulatory agencies to adopt similar people-centred approaches in tackling systemic challenges across sectors.

“Dr Maida has demonstrated that regulation, when properly executed, can serve as a powerful tool for social and economic justice,” Olanrewaju added.

The group reaffirmed its support for the Commission’s ongoing reforms and called for sustained collaboration between regulators, operators, and consumers.

It added that the true success of the policy would be measured by lasting improvements in network performance across the country.


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Telcos Recover N2 Trillion following Crackdown on Indebted Subscribers

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Telecommunications operators in Nigeria have reportedly recovered over N2 trillion from subscribers in a sweeping debt recovery campaign that has left millions unable to make calls due to unpaid airtime and data loans.

Telcos Recover N2 Trillion following Crackdown on Indebted Subscribers

The aggressive enforcement follows new compliance requirements introduced by the Federal Competition and Consumer Protection Commission (FCCPC), which telecom operators reportedly failed to meet, according to The News Chronicle.

This led to the suspension of airtime and data lending services and triggered a nationwide push to recover outstanding debts.

As part of the measures, indebted subscribers have had their lines restricted from making calls until their loans are fully repaid.

The move has disrupted daily life across Nigeria, particularly for small business owners and workers who depend heavily on mobile connectivity.

The lending service, valued at over N400 billion annually, has long served as a financial lifeline for many Nigerians, especially those without access to formal credit systems.

However, its sudden suspension has forced users to seek alternative means to clear their debts or abandon their lines altogether.

Meanwhile, a legal dispute involving Nairtime Nigeria Limited has added another layer of complexity.

A Federal High Court in Abuja recently ordered MTN Nigeria and Airtel Nigeria to maintain access to key telecom infrastructure, including USSD and SMS services linked to the platform.

Despite the court’s interim injunction, lending services tied to the platform remain unavailable, indicating ongoing tensions between telecom providers, regulators, and fintech firms.

Industry stakeholders warn that the disruption highlights deeper challenges within Nigeria’s digital economy, where telecom infrastructure increasingly supports financial services.

Millions of users who rely on airtime and data borrowing remain disconnected, caught between regulatory policies, corporate disputes, and the need for affordable communication.

As pressure mounts, both regulators and telecom operators are expected to seek a resolution that balances consumer protection with uninterrupted access to essential digital services.


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