Telecom
FG Targets MTN for Cash as Buhari Govt. Tightens Rules Ahead 2019 Elections- Expert
The many troubles of MTN group in Nigeria may both economic and political play the federal government of Nigeria, according to Ron Klipin, an analyst at Cratos Wealth in Johannesburg.
Klipin, was reacting as federal government has slammed MTN Nigeria with a $2 billion tax demand.
This is another curve ball directed at Africa’s biggest wireless carrier less than a week after it was ordered to refund $8.1 billion in illegally repatriated funds.
Klipin in a chat with Bloomberg said about the fines that “This could be an economic and political play by Nigeria”.
“The Nigerian economy is looking for additional sources of revenue and at the same time the government wants to be seen as tightening up the regulatory framework in the country.” Klipin added.
The additional scrutiny on MTN comes as President Muhammadu Buhari seeks re-election for a new four-year term in a February vote.
Buhari
His administration has pledged to fight corruption in Africa’s most populous nation, including tax avoiders and companies acting unscrupulously.
MTN continues to strenuously deny the allegations being made by the Central Bank of Nigeria and has provided further clarity on the company’s position.
MTN on its own said it had been in talks with Abubakar Malami, Attorney-General, over concerns around tax compliance; but it was billed all the same.
The company in a statement said it was billed for importation of foreign equipment and payments to foreign suppliers, all spread across a period of about ten years.
MTN outlined the tax dispute and refuted both accusations in a statement on Tuesday, yet faces an uphill battle to convince investors it won’t end up shelling out for either or both offenses in its largest market. The shares extended their slump, falling 17 percent to an almost 12-year low by the close in Johannesburg.
“We remain resolute that MTN Nigeria has not committed any offenses and will vigorously defend its position,” the Johannesburg-based company said.
The office of Nigeria’s attorney general calculated that MTN owes $2 billion related to the import of foreign equipment and payments to suppliers over the past decade.
It asked the South African company to carry out a self-assessment in response, but last week rejected the company’s findings, which concluded that it had owed — and paid — $700 million.
MTN reported the ongoing dispute for the first time Tuesday.
Last week, the Nigerian central bank told MTN to return funds it alleges the company illegally transferred out of the country over eight years through 2015.
That accusation put the carrier’s planned share sale in Lagos in jeopardy, while the sanctions may restrict its ability to pay dividends.
On the CBN allegations, MTN said that it is both regrettable and disconcerting that despite the historic engagements with the Nigerian authorities by MTN Nigeria, the senate investigation into the CCI matter, and the multiple tax assessments done by the Nigerian tax authorities over many years that were satisfactorily concluded, that these matters are being reopened.
Tobe Okigbo MTN Corporate Relations Executive said: “From the CBN’s own letter and subsequent statements, it is clear that there is no dispute that the capital captured in MTN’s books and for which CCIs were issued was imported into Nigeria, and this is acknowledged explicitly by the CBN.
It is equally clear that Nigerian law provides for guaranteed unconditional transferability of funds through an Authorised dealer in freely convertible currency relating to dividends or profits attributable to the investment, payments and in respect of loan servicing where a foreign loan has been obtained.”
He went on to say: “All dividend repatriation done by MTN Nigeria to its shareholders was done on the basis of its equity capital and all the historic dividends were declared against valid equity CCIs and in fact no preference dividends were declared and no interest in respect of these preference shares was paid. This means that it is incorrect to suggest that the conversion of a shareholder loan to preference shares has any relation to the repatriation of dividends. The two are simply not connected and we are trying to understand this position that the Central Bank has taken.”
Speaking on the Attorney General’s ‘demand notice’ for historical tax obligations, Mr Okigbo said: “MTN has conducted a detailed review of these claims, and provided evidence of tax remittance to the Attorney General’s office.
The Attorney General’s notice indicates that he is rejecting this evidence. We believe that all taxes due to the Nigerian government have been paid and these allegations have not been raised by any of the revenue generating agencies that MTN engages with regularly, and from whom MTN has received numerous awards for compliance.”
MTN Nigeria will continue to engage with the relevant authorities on all these matters and we remain resolute that MTN Nigeria has not committed any offences and will vigorously defend its position.
Update on the CBN letter on foreign exchange
MTN Group and the original shareholders injected a total of $402, 625,419 into MTN Nigeria between 2001 and 2006 in the form of loans and equity.
These initial inflows were the basis for the issuance of various legacy CCIs obtained from Authorized Dealers in accordance with regulations. The inflow of capital has been confirmed by the CBN.
The CCI process is essentially in place both for the protection of investors as well as to provide the CBN with documentary evidence for monitoring capital inflows and outflows. Although over time the CCIs have been re-issued, consolidated and re-constituted to reflect the changing MTN capital and shareholding structure, the amount of 402, 625,419, has remained the same.
One aspect of the changing capital structure was the conversion of shareholder loans to preference shares. It is important to note that all the historic dividends were declared against valid equity CCIs and in fact no preference dividends were declared and no interest in respect of these preference shares was paid.
The Attorney General’s notice of intention to recover tax
The Attorney General notified MTN that his office made a high-level calculation that MTN Nigeria should have paid approximately $2,0 billion in taxes relating to the importation of foreign equipment and payments to foreign suppliers over the last 10 years and he requested MTN Nigeria to do a self-assessment of the taxes in this regard that have been actually paid.
In August 2018 MTN submitted comprehensive documentation to the office of the AG. MTN Nigeria has also completed an initial assessment of the full period which indicates that total payments made to the tax authorities in regard to these foreign imports and payments in aggregate are $700 million.
There are valid reasons for the differences between the actual payments and the AG high-level assessment.
We were notified by the office of the AG last week that they have not accepted the documentation presented and they have given notice of an intention to recover the $2.0bn from MTN Nigeria.
Based on the detailed review performed MTN Nigeria believes it has fully settled all amounts owing under the taxes in question.
In the rapidly evolving landscape of African technology, few figures bridge the gap between high-level research and grassroots digital execution as effectively as Nnaemeka Ani.
Nnaemeka Ani
As the Founder of MGX Research Center and the visionary behind MexyGabriel, Ani has emerged as a leading protagonist in the narrative of Nigeria’s technological self-reliance.
The Visionary: Founding MGX Research
At the heart of Ani’s philosophy is MGX Research, a center dedicated to “first-principles thinking.” Under his leadership, the center has become a beacon for data-driven innovation, moving beyond the “hype” of the tech world to focus on persistent, localized solutions.
Through MGX Research Center, he is building a multidisciplinary ecosystem that cuts across artificial intelligence, data science, cybersecurity, smart cities, digital identity, e-governance, EdTech, HealthTech, robotics, and automation
Ani’s mantra – “Africa’s rise begins with its own innovation” – is not just a slogan; it is a call to arms for African builders to stop seeking international validation and start authoring their own digital destiny.
As Founder and CEO of MexyGabriel Tech Company, Nnaemeka has driven multiple large-scale technology projects across Nigeria, focusing on digital infrastructure, enterprise solutions, identity and payment platforms, and youth-centered innovation programs. MGX Research Center functions as the research and development arm of this broader ecosystem, providing the thinking laboratory, prototypes, and strategic insights that inform products, policies, and investment decisions.
Nnaemeka is passionate about youth empowerment, innovation, and Africa’s digital future. His work through MGX Research Center aims to position Nigeria not just as a consumer of technology but as a creator of solutions, producing world-class research, thought leadership, and practical tools that can be deployed across states, universities, and private organizations.
He frequently collaborates with universities, government ministries, tech hubs, and global partners, championing a model where research is not locked up in theory but translated into deployable systems, smart policies, and scalable ventures.
Ani has demonstrated a unique ability to turn complex code into commercial and social value. His work has focused on:
- Infrastructure for Good: Developing platforms that bridge the divide between urban tech hubs and rural communities.
- Sovereign Technology: Championing the idea that African data should be managed by African-built systems.
The Public Servant: Digitizing Enugu State
Ani’s influence extends into the corridors of power. Serving as the Special Adviser to the Enugu State Governor on ICT, he has been instrumental in transforming the state into a burgeoning digital ecosystem.
His work in Enugu serves as a blueprint for “Governance-Tech Synergy,” proving that when political will meets technical expertise, public service delivery can be revolutionized.
“We are no longer just ’emerging’; we are competing. Africa will rise by code, by courage, and by us,” said Nnaemeka Ani.
Quick Facts: Nnaemeka Ani
Category | Detail |
Current Roles | Founder, MGX Research; Founder, MexyGabriel; SA on ICT to Enugu State Governor. |
Core Philosophy | “First-Principles Thinking” – Breaking problems down to their core truths. |
Key Advocacy | Digital Sovereignty, Sovereign AI, and localized STEM education. |
Notable Mantra | “By Code and By Courage.” |
Why He Matters in 2026
As Nigeria enters a transformative year marked by the January 1, 2026 Tax Reforms and the push toward 70% Broadband Penetration, Ani represents the “New Guard” of leadership. He is one of the few voices consistently advocating for the Tripod Method, balancing technology, local policing, and traditional authority, to ensure that Nigeria’s digital growth is matched by national security.
Nnaemeka Ani is not just as a “tech guy,” but as a Strategic Reformer. He is a “Leader to Watch” because he understands that for technology to thrive in Nigeria, it must be supported by sound policy and cultural relevance.
MTN Nigeria has hosted the Prestige Experience, a refined evening of culture, connection and celebration, as part of its ongoing Y’ellotide initiative marking the Yuletide season.
MTN Nigeria
The event, held on Friday at The Royal Box, Victoria Island, Lagos, brought together customers, partners, stakeholders, and dignitaries in an atmosphere of appreciation and festivity.
The Prestige Experience showcased Nigerian creativity and elegance through a curated blend of fine dining, fashion, and music. Guests were treated to Michelin-inspired cuisine prepared by renowned Chef Stone, fashion showcases highlighting African heritage, and soulful performances by acclaimed singer Asa.
The evening was anchored by popular hosts Ebuka Obi-Uchendu and Michelle Dede, with comedic interludes from veteran comedian Alibaba.
Speaking at the event, Dr Ernest Ndukwe (OFR), Chairman of MTN Nigeria, described the gathering as an expression of gratitude and partnership. He said the Prestige Experience reflected MTN’s appreciation for the trust Nigerians continue to place in the brand.
“The MTN Prestige Experience is a cornerstone of our commitment to you, our valued partners. Your trust and continued patronage are the bedrock of our success, and this gathering reflects our appreciation for that trust.
“We are not just a service provider but are committed to being a trusted partner in Nigeria’s progress,” Ndukwe said.
In his remarks, Dr Karl Toriola, Chief Executive Officer of MTN Nigeria, emphasised the importance of genuine connection during the festive season.
“We recognise the immense value of the relationships we have built together, and we are committed to ensuring that your experience remains unparalleled.
“You are essential partners in our journey, and we look forward to many more years of shared success and collaboration,” Toriola said.
Distinguished guests at the event included members of MTN’s Board and Executive Management, industry leaders, government officials, members of the diplomatic community, and representatives from the creative sector, reflecting the diversity and richness of the MTN ecosystem.
The Prestige Experience forms part of MTN’s broader Y’ellotide celebrations, which reaffirm the company’s belief that meaningful connections and shared experiences remain central to its relationship with Nigerians.
Google has unveiled a new feature that allows Gmail users to change their existing email addresses without losing data or access to services, marking a major shift in the company’s long-standing policy.
Gmail
According to an update on Google’s account help page, the new option enables account holders to replace their current @gmail.com address with a new one while retaining all associated data, including emails, photos, and integrations with services such as Google Drive, Maps, and YouTube.
The guidance, however, was first spotted on the Hindi version of Google’s support page, suggesting that the rollout may begin in India or Hindi-speaking markets before expanding globally.
The English-language support page still carries the older advisory that Gmail addresses “usually cannot be changed.”
Google explained that under the new policy, users who update their Gmail address will automatically keep their original address as an alias.
This means emails sent to the old address will continue to arrive in the inbox, and the original address will remain valid for signing in to Google services.
Previously, users seeking a new Gmail address had to create an entirely new account and manually transfer their data, a process that often disrupted third-party app integrations. The new feature eliminates that inconvenience, ensuring continuity for users.
The company further clarified that while users can reuse their old Gmail address at any time, accounts that change their address will face certain restrictions.
These include a 12-month waiting period before another new Gmail address can be created, and the inability to delete the newly chosen address once it has been set.
Google assured users that all existing data would remain intact after an address update, including stored photos, messages, and emails.
The gradual rollout of the feature indicates that full global adoption is expected in the coming months, a move likely to be welcomed by millions of users who have long requested the ability to update their Gmail identities without starting afresh.
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