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MTN Nigeria Denies Illegal Repatriation of $8.1Bn

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MTN Nigeria, has denied its involvement in the illegal repatriation of dividends worth $8.1bn between 2007 and 2015.

 

Funso Aina, public relations manager, on Thursday, acknowledged the receipt of a letter from the Central Bank of Nigeria (CBN) regarding the allegations on August 29, 2018.

 

MTN Nigeria said it only paid dividends with Certificates of Capital Importation issued by its bankers with the approval of the CBN.

 

“MTN Nigeria Communications Limited (MTN Nigeria) received a letter on August 29 2018 from CBN alleging that CCIs issued in respect of the conversion of shareholders loans in MTN Nigeria to preference shares in 2007 had been improperly issued. As a consequence, they claim that historic dividends repatriated by MTN Nigeria between 2007 and 2015 amounting to $8,1 billion need to be refunded to the CBN.

 

“MTN Nigeria strongly refutes these allegations and claims. No dividends have been declared or paid by MTN Nigeria other than pursuant to CCIs issued by our bankers and with the approval of the CBN as required by law.

 

“The issues surrounding the CCIs have already been the subject of a thorough inquiry by the Senate of Nigeria. In September 2016 the Senate mandated the Committee on Banking, Insurance and other Financial Institutions to carry out a holistic investigation on compliance with the Foreign exchange (monitoring and miscellaneous) Act by MTN Nigeria and Others.

 

“In its report issued in November 2017, the findings evidenced that MTN Nigeria did not collude to contravene the foreign exchange laws and there were no negative recommendations made against MTN Nigeria.”

 

According to Mr. Ania, the company is a law-abiding citizen of Nigeria, is committed to good governance and to abiding by the extant laws of the Federal Republic of Nigeria.

 

MTN Nigeria promised to engage with the relevant authorities, vigorously defend its position on the matter and provide further information when available.

 


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Nigeria, Ghana Trigger Stunning 45 Percent Surge in MTN Dividends

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MTN Group delivered impressive financial and operational achievements for 2025, boosted by strong performances in MTN Nigeria and MTN Ghana, as well as solid earnings from MTN South Africa.

Nigeria, Ghana Trigger Stunning 45 Percent Surge in MTN Dividends

The three core markets of Africa’s largest mobile provider enhanced profitability, free cash flow, and shareholder dividends by 45%.

IT Web Africa reported that Ralph Mupita, group CEO and president, MTN, highlighted that the telecoms giant’s robust commercial momentum across key markets capped the final year of its Ambition 2025 strategy, while laying the foundation for a new long-term growth phase under Ambition 2030.

“The Group’s overall performance in 2025 was excellent. In the final year of our Ambition 2025 strategy, we were proud to have exceeded the 300 million customers milestone,” he said.

MTN revealed that it now serves more than 307 million voice subscribers, 172 million data users, and 70 million Mobile Money customers across 16 African markets, reflecting the continent’s growing demand for digital connectivity and financial services.

The operator credited its results to disciplined commercial execution and sustained investment in network infrastructure, with R38 billion spent during the year to expand capacity, improve coverage and enhance service quality.

The group reported that data traffic surged 27%, while average monthly data consumption per user climbed to 12.5GB, up from 10.8GB a year earlier, reflecting Africa’s fast-growing appetite for digital services.

Financially, the performance was driven by MTN’s largest markets.

In constant currency terms, MTN Nigeria grew service revenue by 54.9%, while MTN Ghana increased service revenue by 35.9%.

Meanwhile, MTN South Africa recorded 2% growth, demonstrating operational resilience in one of the continent’s most mature and competitive telecom markets.

MTN Group service revenue rose nearly a quarter to R218 billion, while earnings before interest, tax, depreciation and amortisation climbed to R98.5 billion, supported by R3.6 billion in expense efficiencies.

Mupita stressed that the strong results translated into robust free cash flow and improved return generation, allowing the board to declare a dividend of 500 cents per share, up from 345 cents the previous year.

“This comfortably exceeds the minimum dividend of 370 cents we had previously guided,” he said.

The group also announced a R6 billion share buyback programme as part of an enhanced shareholder remuneration framework aimed at delivering stronger long-term returns.

Alongside its results, MTN unveiled Ambition 2030, a strategy centred on three platforms, connectivity, fintech and digital infrastructure, as it seeks to capture the next wave of growth driven by data adoption and financial inclusion across Africa.

“We are hugely excited about Africa’s potential. We are well positioned to leverage our scale, footprint and brand leadership to capture the significant structural growth opportunities identified,” said Mupita.

 

Source: IT Web Africa


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ATCIS Urges FG to Ensure Safety of Consumers Data

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Association of Telephone, Cable TV, and Internet Subscribers of Nigeria (ATCIS) non-profit consumer rights group dedicated to protecting the rights, interests, and welfare of telecommunications subscribers, has urged the Federal Government to ensure safety of telecom consumers’ data hosted by government agencies.

ATCIS Urges FG to Ensure Safety of Consumers Data

Dr Sina Bilesanmi, president of the body stated this World Consumers Day in Lagos.

He alleged that said subscribers” data are being jeopardised by some of its agencies.

Bilesanmi urged government to ensure that every subscriber in Nigeria can use digital service without fear of physical, financial, or data-related harm.

The ACTIS president said safety in the telecommunication sector extends beyond physical hardware to include data privacy and protection from cyber fraud.

“We call for stricter enforcement by the Standard organization of Nigeria (SON) to eliminate substandard mobile devices and Cable Tv equipment that pose fire or electric hazards.

“We also want safe services from telecoms that are transparent – free from hidden charges and misleading advertisements”, he said.

He urged subscribers to utilize platforms like ACTIS as well as NCC and even FCCPC web portal when they encounter service failures.

He also tasked FG on hosting Nigerian Data Privacy in the country.

He said: “We ask for more robust surveillance and swifter penalties for entities that violate consumer safety standards. We admonish the subscribers to be aware and speak out, a vigilant consumer is a protected consumer.”


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New Horizons Nigeria Commissions ICT Centre @Adeleke University to Boost Tech Skills

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In a major boost to technology education and digital innovation in Nigeria, New Horizons Systems Solutions Limited, a subsidiary of the US-based global ICT training organization, New Horizons Worldwide, has commissioned a state-of-the-art ICT facility at Adeleke University, Ede, Osun State.

New Horizons Nigeria Commissions ICT Centre @Adeleke University to Boost Tech Skills

New Horizons Nigeria

The facility, named the Elder (Dr.) I.C. Egbuta ICT Centre, was constructed and donated to the university by New Horizons Nigeria as part of its commitment to equipping Nigerian universities with modern infrastructure capable of preparing students for global competitiveness in the digital economy.

The commissioning ceremony which held on Tuesday March 3rd, 2026 drew dignitaries from the university community, industry, and academia.

The event began on a vibrant note as cultural dancers from the university’s Theatre Arts Department entertained arriving guests with lively traditional performances.

The new ICT center represents another milestone in the long-standing partnership between New Horizons and Adeleke University, a collaboration that has spanned more than a decade.

Through the partnership, the institution has delivered project-based and certification-based ICT training programs, producing thousands of students with globally recognized digital skills and professional certifications across diverse technology disciplines.

Also, the Elder (Dr.) I.C. Egbuta ICT Centre features four fully equipped ICT studios with high-end computer systems, full air-conditioning, and seating capacity for over 750 users. The facility also includes modern conveniences intended to enhance digital learning and professional certification training.

The building was officially commissioned by Chief (Mrs) Modupe Adeleke Sanni, who represented the Chairman of the University Council, Chief Adedeji Adeleke.

In her remarks, she commended New Horizons Nigeria for its sustained investment in the university and reaffirmed the council’s commitment to strengthening the partnership in the years ahead.

Also speaking at the event was the Vice Chancellor of Adeleke University, Professor Solomon A. Adebola, who praised the organization for its consistent contributions to the technological advancement of the institution and the empowerment of Nigerian youths through practical digital training.

Furthermore, the Managing Director and Chief Executive Officer of New Horizons Nigeria, Mr. Tim Akano expressed appreciation to the university’s leadership and governing council for their support and enduring collaboration.

He reiterated the organization’s vision of equipping Nigerian universities with facilities and training that will enable students to compete effectively in the global technology ecosystem.

Mr. Akano further noted that New Horizons remains committed to driving innovation within Nigerian universities, with the long-term goal of enabling institutions like Adeleke University to generate research-driven technological solutions capable of attracting patent rights and global recognition.

New Horizons Nigeria, widely recognized as Africa’s largest ICT training organization, continues to strengthen its footprint in Nigeria’s digital education sector. In 2025, the institution received the prestigious Best ICT Training Company award from CompTIA in South Africa.

This further reinforce its leadership position within the continent’s technology training ecosystem. Also, as a franchise of New Horizons International, which operates in over 90 countries across six continents, the organization has consistently aligned with global best practices while addressing local capacity gaps. The organization currently provides ICT training services to more than 30 universities and nearly 200 high schools nationwide.

The center would be used for the training of high-end technical courses like Cyber Security, Web Development, Artificial intelligence, Full Stack, Graphics and CompTIA courses like Hardware, Network and Security Plus.

New Horizons have won about 350 national and international awards in the last 20 years of its operation and it trains over 100,000 students yearly across 27 universities and 150 secondary schools, as well as corporate organizations, government agencies and retail offices.

Students trained by New Horizons Nigeria are always well-sought after in the labour market after graduation and the certificate they obtain are recognized in all the 90 countries where New Horizons have offices.

In conclusion, the ceremony ended with an energetic cultural performance by the university’s theatre group from the Theatre Arts Department, which drew enthusiastic applause from the audience.

The commissioning of the Elder (Dr.) I.C. Egbuta ICT Centre further strengthens the collaboration between New Horizons and Adeleke University and is expected to deepen efforts toward producing highly skilled ICT professionals and innovators capable of contributing to Nigeria’s growing digital economy.

 

 

 

 


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