Telecom
MTN Fights Back, Sues AGF, CBN over $10Bn Fine

MTN Group has applied to the Federal High Court of Nigeria to prevent local authorities from acting on claims that the company illegally moved $8.1 billion out of the country and owes $2 billion in back taxes.
Africa’s biggest wireless carrier by subscribers reiterated that it denies all allegations. The crisis has wiped almost a third off the share price as investors fret over MTN’s future in Nigeria, its biggest market with about 66 million customers.
“We remain resolute that MTN Nigeria has not committed any offences and will continue to vigorously defend its position,” MTN said in a statement on Monday.
It would be recalled that the CBN announced it wrote MTN to refund about $8.134 billion repatriated illegally out of Nigeria.
On the other hand, the AGF had a few days after the CBN sanctions also accused MTN of not paying taxes on foreign payments and imports totaling about $2 billion to the Federal Government.
Isaac Okorafor, CBN’s spokesperson, said the repatriation was facilitated by four commercial banks using irregular Certificates of Capital Importation (CCIs) issued on behalf of some offshore investors of MTN Nigeria.
The four banks, Standard Chartered Bank, Stanbic-IBTC, Citibank and Diamond Bank, were also asked to refund various amounts totaling N5.87 billion.
The amounts, which have since been deducted from the banks’ accounts with the CBN, include N2.5 billion for Standard Chartered; Stanbic IBTC (N1.9 billion); Citibank (N1.3 billion and Diamond Bank (N250 million).
The CBN accused the banks of violating the country’s laws, including the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, 1995 and the Foreign Exchange Manual, 2006.
MTN, which described the allegation as regrettable, rejected both sanctions, promised to vigorously defend its position that it did not do anything illegal an unlawful.
“MTN Nigeria Communications Limited (MTN Nigeria) continues to categorically and unequivocally deny all charges related to the Central Bank of Nigeria (CBN) and Attorney General of the Federation (AGF) investigations into the company’s CCIs and unpaid taxes respectively.
Tobe Okigbo, MTN Nigeria corporate relations executive, said, according to the statement: “The allegations being made involve issues that appear to be complex and so are easily misunderstood and misinterpreted.
“They are made even more confusing when the relevant authorities send conflicting messages and instructions and act in a way that appears un-coordinated and at cross purposes.
“The simple reality is that MTN Nigeria has never repatriated dividends on the CCIs referenced by the CBN and that MTN is fully compliant with Nigerian tax law.
“With situations like this, it is vital for both the government, regulators and the company to have absolute clarity on the nature of both the allegations being made and the processes that are being followed.
“In the absence of this clarity, our only option is to seek judicial intervention and to ask the courts to act as adjudicator. This has been done today.”
Telecom
Konga Launches ‘Berekete Sales’ with Up to 50% Discounts Across Major Categories

Nigeria’s leading composite e-commerce platform, Konga, has announced the launch of its highly anticipated Berekete Sales, a nationwide promotional campaign designed to deliver exceptional value to customers across key product categories.

Konga Berekete
The initiative reinforces Konga’s commitment to affordability, accessibility, and innovation while strengthening its position as a trusted retail partner for millions of Nigerians.
The Berekete Sales campaign features discounts of up to 50% on high-demand categories including Home and Kitchen, Computing, Electronics, Beauty, and Personal Care.
Carefully curated to meet both everyday and aspirational needs, the campaign comes at a strategic period that coincides with Ramadan, Lent, and the approaching Eid al-Fitr celebrations, seasons traditionally associated with reflection, generosity, and family-oriented spending.
Speaking on the campaign, Victor Olaleye, Konga Group Head of Marketing, emphasised that the Berekete Sales initiative reflects the company’s understanding of the economic climate and the importance of value-driven retail experiences. “Berekete Sales is about delivering abundance in savings to our customers,” he stated.
“We recognise that this period is significant for many households observing Ramadan and Lent, and we want to ensure they can access premium products at competitive prices.
“Our goal remains to make quality products accessible while maintaining the seamless shopping experience Konga is known for.”
Among the standout offers is a special deal on the Starlink Gen 3 kit, now available at ₦550,000, reduced from its regular price of ₦590,000.
As the authorised distributor, Konga continues to provide customers with reliable access to the high-speed satellite internet solution, further strengthening connectivity options in Nigeria.
Activation services are available in select cities, ensuring a smooth transition to enhanced internet performance.
In addition, technology enthusiasts can take advantage of an exclusive offer on the Huawei Watch 3, with a special promotion that allows customers to receive two units for the price of one at ₦200,000.
This offer underscores Konga’s strategy of delivering premium lifestyle products with unmatched value.
The Berekete Sales campaign also extends to computing solutions, with attractive deals on ASUS laptops, catering to professionals, students, and businesses seeking performance-driven devices at competitive prices.
Furthermore, customers can pre-order the new Samsung Galaxy S26 Ultra on Konga and receive gift items worth over ₦500,000 from Samsung, a compelling incentive for early adopters and technology enthusiasts.
By aligning its promotional calendar with key religious seasons, Konga demonstrates cultural awareness while providing practical solutions for customers during Ramadan, Lenten observances, and Eid celebrations.
The campaign ensures that households can upgrade their living spaces, enhance productivity, and invest in quality lifestyle products without straining their budgets.
Beyond the discounts, Konga’s integrated ecosystem, spanning secure payment solutions, nationwide logistics, and reliable customer support, ensures a seamless shopping journey from browsing to delivery.
This operational strength continues to differentiate the brand within Nigeria’s competitive e-commerce landscape.
As consumer expectations evolve, Konga remains focused on delivering not just products but complete retail experiences anchored on trust, transparency, and value. The Berekete Sales campaign is positioned to drive significant traffic, boost sales volumes, and deepen brand loyalty across its growing customer base.
With substantial savings, premium product offerings, and time-sensitive deals, the Berekete Sales As the campaign gains momentum, customers are encouraged to visit Konga.com or any Konga retail store nationwide to take advantage of these limited-time offers.
With its blend of spiritual season sensitivity and high-tech accessibility, Konga continues to set the pace for the future of commerce in Africa.
Telecom
Sunil Bharti Mittal Conferred GSMA Lifetime Achievement Award for Transforming Global Telecommunications

The GSMA has conferred a rare Lifetime Achievement Award on Sunil Bharti Mittal, Founder and Chairman of Bharti Enterprises, recognising his role in reshaping the global telecommunications landscape and expanding connectivity across operators, governments, businesses and billions of consumers worldwide.

Bestowed on only a handful of industry leaders in the GSMA’s history, the honour recognises contributions that have left an enduring and defining mark on the global communications ecosystem.
The award was presented at Mobile World Congress in Barcelona in the distinguished presence of His Majesty Felipe VI, the Prime Minister of Spain, Pedro Sanchez, the President of Catalonia, Salvador Illa, and global industry leaders.
A visionary in the telecom sector, Sunil Bharti Mittal has built Bharti Airtel into one of the world’s leading mobile operators, with operations across India and Africa, ranking among the top three globally and serving over half a billion customers.
He pioneered the expansion of mobile services across emerging markets and served as Chairman of the GSMA from 2017 to 2018, where he championed policies that encouraged investment and innovation while strengthening the industry’s commitment to connecting the unconnected and advancing digital inclusion.
He was previously honoured with the GSMA Chairman’s Award in 2008 and again in 2016 for his outstanding contribution to the growth and development of the global mobile industry and was felicitated at Mobile World Congress in February 2019 in recognition of his Chairmanship.
On receiving the award, Sunil Bharti Mittal said, “I am deeply honoured to receive this recognition and sincerely thank the GSMA for this award. I accept it not only as a personal milestone, but as a tribute to India’s telecom journey, the collective spirit of Bharti, and the rise of Indian telecom companies on the global stage.
Equally the award reflects the progress of an industry that has connected billions and belongs to the customers we serve, the teams who built our institutions, and the partners who believe in the transformative power of connectivity.
Telecommunication is a force that expands opportunity, places essential services in the palm of every individual and unlocks human potential. Helping shape its evolution into a powerful accelerator of modern progress has been a privileged responsibility. As innovation accelerates, we will continue to work with our partners & stakeholders to ensure that growth advances equity and creates lasting opportunity for generations to come.”
The Lifetime Achievement Award is a rare honour, bestowed only on select individuals whose leadership and innovation have left an enduring mark on the industry.
Telecom
House Probes Fintech Regulation via Public Hearing on New Commission Bill

House of Representatives is pushing to regulate Nigeria’s fintech sector through a public hearing on “A Bill for an Act to Establish the Nigerian Fintech Regulatory Commission and for Related Matters (HB.2389).”

Speaker Tajudeen Abbas opened the hearing, stressing the need for stakeholder inputs to craft enforceable, constitutional laws addressing regulatory overlaps in digital banking, science, technology, and communications.
Abbas highlighted fintech’s role in Nigeria’s growth via digital payments, blockchain, crowdfunding, and financial inclusion for the unbanked, creating jobs and supporting SMEs under President Tinubu’s Renewed Hope Agenda.
He warned that lagging regulations cause fragmentation, compliance issues, and investor uncertainty, necessitating a coordinating commission for licensing, supervision, standards, and a level playing field without duplicating bodies like the Central Bank of Nigeria (CBN), SEC, NITDA, or NDIC.
The commission would protect consumers, monitor cybersecurity, ensure data privacy, and promote education while complementing existing regulators.
Committee Chairman Emmanuel Ukpong-Udo, overseeing digital banking, banking regulations, science, technology, communications, capital markets, and institutions, called the bill vital for harmonizing oversight amid Nigeria’s rise as Africa’s fintech hub with 430+ firms valued at billions.
Ukpong-Udo emphasized balancing innovation, stability, and coordination to avoid burdens on startups.
Bill sponsor Fuad Kayode Laguda argued the commission would streamline operations currently split among CBN, SEC, NITDA, NOTAP, and FIRS, boosting profitability, user security, and ease of business. He cited 2024-2026 stats: 250-430 firms, $230 billion market projection, $10.6 billion valuation for top nine, and $1.6 billion in mobile transactions.
Fintech stakeholders offered mixed views, with some backing unified regulation and others fearing overlaps with current mandates.
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