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6.6m Nigerians Become MTN Shareholders as Telco Rakes in N111.75Bn from Offer

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MTN Nigeria Communication Plc has said it now has 6.6 million Nigerians as direct or indirect shareholders as it made N111.75bn from its share offer to Nigerians.

6.6m Nigerians Become MTN Shareholders as Telco Rakes in N111.75Bn from Offer

The telecommunications company said this in a statement titled ‘Results of the series 1 offer for sale of MTN Nigeria Communications Plc ordinary shares, first public offer via digital platform in Nigeria’.

Uto Ukpanah, company secretary, MTN Nigeria stated that “The Offer was implemented by way of a bookbuild to qualified institutional investors and a fixed price offer to retail investors.

“The Offer was oversubscribed with valid applications for a total of 801.97 million units, leading to the activation of the approved 15% over-subscription clause of an additional 86.25 million MTN Nigeria shares.

“In all, 661.25 million MTN Nigeria shares were allotted. A total of 126,720 retail investors submitted valid applications and received full allotment; and institutional investors including pension funds, insurance companies, asset managers, corporates, and foreign portfolio investors that participated in the bookbuild were allotted 72.09% of their applications. This includes Nigerian pension funds representing approximately 6.5 million Nigerian contributors.

“Following the successful completion of the Offer, MTN Group’s shareholding in MTN Nigeria reduced by 3.25 percentage points, from 78.83% to 75.58%.

“In line with the innovative incentive structure of 1 free share for every 20 purchased, subject to a maximum of 250 free shares per investor, an additional 4.28 million MTN Nigeria shares will be allotted to qualifying investors who hold the shares allotted to them for 12 months till 31 January 2023”.

MTN Group adopted a unique structure in this offering by determining a fixed price of N169 per share for the retail offer through a Bookbuild to Qualified Investors that was completed on 26 November 2021.

The fixed price offer to Retail Investors was at a discount of 11% to the closing price of MTN Nigeria stock on the day the Bookbuild was completed. The Offer commenced on 1 December 2021 and was completed on 14 December 2021.

Nigerian investors across the country supported the Offer through multiple channels – Receiving Agents, Issuing Houses and PrimaryOffer (a digital application platform).

The Offer is a landmark transaction and a true reflection of Nigerian investor confidence in MTN Nigeria. It marks the first time a digital application platform was used to democratize investing in a public offer and maximize investor participation across the country.

More than 89% of retail offer subscribers applied through the Primary Offer platform (mobile and web), and 114,938 new Central Securities Clearing System (CSCS) accounts were opened by first-time investors.

Ralph Mupita, CEO of MTN Group said: “We are pleased that this Offer has given so many Nigerians the opportunity to become owners of MTN Nigeria. With over 6.6 million Nigerians directly or indirectly becoming shareholders in MTN Nigeria, the objective of broadening the shareholder base, and creating shared value has been achieved.

“We are proud that our Offer was the first Nigerian public offer to use the digital application platform, PrimaryOffer, which enabled wider investor participation across Nigeria.

“We thank the Nigerian authorities for their support of this Offer. We remain committed to playing our humble role in driving digital and financial inclusion in Nigeria over the medium.”

Commenting on the Offer, Karl Toriola, CEO of MTN Nigeria said: “We are delighted to welcome so many new shareholders to the MTN family, up 11.6 times from the number before the offer.

“It has been inspiring to see so many Nigerians, many of whom are young, acquire shares for the first time, and use a digital platform to do so.

“This is the beginning of a journey to broaden our shareholding and there will be more opportunities to participate.

“We are pleased with the level of digital innovation we championed with this offer with the active collaboration of our lead issuing house and the various regulatory bodies. Deepening retail participation in Nigeria’s capital markets is a process, and we are off to a great start, demonstrating the role digital platforms can play in expanding access.

“I am particularly pleased that we completed this transaction in an accelerated time frame ensuring new shareholders can realize value almost immediately through participation in our 2021 full-year dividend.

“I would specifically like to thank the Honorable Minister of Communications and Digital Economy, Prof. Isa Ali Ibrahim (Pantami), the Nigerian Communications Commission and the wider Federal Government for the opportunity to execute this Offer.

“I thank the Securities and Exchange Commission, the Nigerian Exchange Limited, the CSCS, and all the parties involved for their support in delivering this ambitious Offer structure. I also appreciate our staff who worked tirelessly with our advisers on this project.

“Most of all I would like to thank our new shareholders for having confidence in us and in our future. We are delighted to have you on board for this journey to building a digital future together.”

Bolaji Balogun, CEO of Chapel Hill Denham, the Lead Issuing House said: “Chapel Hill Denham is honoured to have worked with MTN to complete Nigeria’s first digital and predominantly green offering.

“I wish to thank the SEC, the NGX, the CSCS, all the professional firms and other stakeholders, for delivering a big win for Nigeria’s capital markets in enabling the adoption of PrimaryOffer and this transaction marks a new and exciting future.

“Over 90% of subscribers to the Offer were first time participants in the capital markets and MTN Nigeria’s strong investment case made this possible.”

Nigerian Exchange Limited (NGX) CEO, Temi Popoola, CFA said: “NGX is proud to have worked with MTN Nigeria, Chapel Hill Denham and other parties to the transaction in advancing Nigeria’s capital market through the adoption of forward-looking technology.

“In the NGX era, we are resolute in our commitment to democratize finance in Nigeria in order to ensure every type of investor has access to public markets where they can invest in companies they believe in and reap value. With the digitised MTN Nigeria offering, we have made a tremendous stride in our plans for a full digital transformation of the Nigerian capital markets and we look forward to building on this.”

Central Securities Clearing System Plc CEO, Haruna Jalo-Waziri said: “We are excited to be part of the innovation brought by the Offer, which afforded the successful launch of PrimaryOffer digital application platform.

“This further buttresses the necessity for digital transformation, allowing market access for all categories of investors, including institutional and retail investors within and outside of the country.

“At CSCS, digital transformation has been the core of our strategic direction. We will continue to collaborate with our participants, issuers and other stakeholders to efficiently and effectively ease market access with innovative solutions through the investment cycle.”

Chapel Hill Denham Advisory Limited acted as Lead Issuing House and Bookrunner for the Offering, and Rand Merchant Bank Nigeria Limited, Renaissance Securities (Nigeria) Limited, Stanbic IBTC Capital Limited and Vetiva Capital Management Limited acted as Joint Issuing Houses and Joint Bookrunner.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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Nnaemeka Ani – The Architect of ‘Code and Courage’

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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 - The Architect of ‘Code and Courage’

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.


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MTN Nigeria Appreciates Partners, Customers at Lagos Prestige Experience

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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 Appreciates Partners, Customers at Lagos Prestige Experience

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.


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Google Finally Allows Users to Change Gmail Address, Keeps Data and Services Intact

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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.

Google Finally Allows Users to Change Gmail Address, Keeps Data and Services Intact

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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