Connect with us

Telecom

MTN Blames CBN for Delay in Listing on NSE

Published

on

Kindly share this post

MTN Group claimed it is facing challenges on its listing process in Nigeria due to its face-off with the Central Bank of Nigeria (CBN).

 

According to its quarterly report for the second quarter of the year ended on September 30, 2018, released on Monday, the company said that “We successfully completed the listing of MTN Ghana,” the telecom company said in the report.

 

“MTN Nigeria’s plans to list have been challenged by the recent Central Bank of Nigeria and Attorney General of the Federal Republic of Nigeria matters.

Advertisement

 

“MTN remains committed to the listing in Nigeria and work continues in this regard. In the quarter, the group engaged extensively with authorities in Nigeria to deal with the matters they raised.”

 

The apex bank had claimed that MTN Nigeria illegally repatriated $8.1 billion between 2007 and 2015 while the AGF alleged that the company has unpaid taxes on foreign payments and imports of $2 billion.

 

Advertisement

However, MTN had waved off the allegation and expressed its resolve to get justice.

 

According to the quarterly report, MTN Group Ltd. boosted sales ahead of targets in the third quarter, showing its ability to grow the business even with a major regulatory spat that’s rocked shares of Africa’s largest wireless carrier.

 

Rob Shuter, chief executive officer said in a statement on Monday, that the company is going ahead with plans to list in Nigerian Stock Exchange (NSE), in spite of the issue,

Advertisement

 

The decision to sell shares was part of negotiations relating to a $5.2 billion fine for the unregistered sim cards; the settlement included a reduction of the fine to $1 billion.

 

Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

Telecom

Surge in Fibre Cuts Hobbles Service Provisioning

Published

on

Kindly share this post

Nigeria’s telecom operators recorded 155, 397 fibre-cut incidents between April and May 2026, and these they blame on why  internet or calls suddenly stop working.

Surge in Fibre Cuts Hobbles Service Provisioning

 

Data from the Nigerian Communications Commission (NCC) showed fibre-cut incidents increased from 74 276 in April to a record 79 121 in May, bringing the two-month total to the highest level recorded by the industry.

This represents a 2 428% increase from the 5 934 incidents reported during the first quarter of 2026.

Vandalism remained the leading cause of fibre cuts, accounting for more than 54 000 incidents despite telecom infrastructure being designated as Critical National Information Infrastructure, a classification intended to strengthen protection of key digital assets.

Advertisement

Also road construction constantly damages fiber where iggers and machines tear up buried cables during road repairs or construction.

Even with all these, some state governments make it hard for companies to fix cables quickly across different areas with all manners of fees and levies.

The NCC designation provides for penalties of up to 10 years’ imprisonment for offenders, but operators continue to face widespread infrastructure damage.

Proposed solutions, including Nigeria’s Dig-Once policy and AI-powered fibre sensing technologies, have yet to achieve widespread adoption.

The NCC is developing a cost-based framework for shared underground duct infrastructure, while operators are exploring AI-powered fibre sensing technologies that can detect cable damage in real time and improve network resilience.

Advertisement

Nigeria is pursuing ambitious broadband targets under its National Broadband Plan and has expanded fibre deployment to about 35 000 kilometres.

However, infrastructure protection has not kept pace with network expansion, leaving subscribers vulnerable to unreliable connectivity despite continued operator investment.

 

Kindly share this post
Continue Reading

Telecom

Helios Towers Secures $29m Facility to Expand Across Africa

Published

on

Kindly share this post

Standard Bank has partnered with Helios Towers to provide a $29 million Social Documentary Credit Facility. According to the financial services company, this transaction marks Standard Bank’s first Documentary Credit Facility structured in a Sustainable Finance format.

It notes that the facility will support the procurement and importation of telecommunications infrastructure and related services across Africa.

It will also provide payment certainty to suppliers, while supporting Helios Towers’ working capital requirements and infrastructure expansion programme, the bank adds.

Structured in accordance with the Loan Market Association’s Social Loan Principles, the financing is designed to promote digital connectivity and telecommunications infrastructure development in underserved markets.

This will help Helios Towers further expand its footprint and enhance mobile network coverage and connectivity across the continent.

Advertisement

Helios Towers operates one of Africa’s independent telecommunications tower platforms, enabling mobile network operators to extend coverage across multiple markets.

Standard Bank notes that the facility supports the expansion of tower infrastructure and services, increased network densification and improved connectivity in underserved markets and remote regions across the African continent.

It will also drive digital inclusion and tackle the digital divide while supporting economic growth and socio-economic development.

“This transaction demonstrates the power of innovation in trade finance. By combining a first-to-market Social Documentary Credit Facility with a cross-border funding solution, Standard Bank has supported Helios Towers’ growth ambitions while helping extend digital connectivity to underserved communities across Africa,” says Benoit Samouilhan, global transaction banker at Standard Bank Corporate and Investment Banking.

According to the bank, this facility enables positive social impact by increasing and improving network coverage and connectivity in some of the world’s most remote regions.

Advertisement

“Reliable digital infrastructure is fundamental to Africa’s future growth and development,” says Alex Carter, group finance director at Helios Towers.

“This facility provides us with the flexibility and certainty needed to support our ongoing infrastructure investments while advancing our mission of expanding connectivity across the continent. We value our longstanding relationship with Standard Bank and look forward to building on this partnership.”

Kindly share this post
Continue Reading

Telecom

NCC Begins Stakeholder Consultation on MVNO Business Rules

Published

on

Kindly share this post

Nigerian Communications Commission (NCC) will on Thursday convene a stakeholders’ consultative forum to review the draft business rules for Mobile Virtual Network Operators (MVNOs) in Nigeria.

NCC Begins Stakeholder Consultation on MVNO Business Rules

NCC

The forum, scheduled to hold at 10 a.m. at the NCC Annex Office, Mbora, Abuja, is expected to bring together telecommunications operators, industry associations and other stakeholders to provide input on the proposed regulatory framework before its finalisation.

The commission announced the event on its official social media platforms, inviting interested stakeholders to participate in the consultation process.

The engagement is part of the NCC’s efforts to strengthen the regulatory framework for MVNO operations and promote greater competition, innovation and consumer choice in Nigeria’s telecommunications sector.

Mobile Virtual Network Operators are telecommunications service providers that offer mobile services by leasing network capacity from licensed Mobile Network Operators (MNOs), rather than owning spectrum licences or telecommunications infrastructure.

The NCC has identified the MVNO licensing framework as one of its initiatives aimed at deepening competition, expanding access to telecommunications services and driving digital inclusion across the country.

Advertisement

The consultative forum is expected to provide stakeholders with the opportunity to review the draft business rules, make recommendations and contribute to the development of a robust operational framework for the emerging MVNO segment.

The commission is expected to issue further details on the outcome of the consultation after the meeting.

Kindly share this post
Continue Reading

Trending