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

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.

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.
Telecom
Xenophobia: MTN Nigeria Belongs to Nigerians, Not Only South Africans — Toriola

Karl Toriola, chief executive officer, MTN Nigeria, has stated that the telecom company is “a Nigerian company through and through,” emphasising that it belongs as much to Nigerians as to its global investors, with over 11 million Nigerians holding indirect stakes through pension funds.

Toriola also defended the federal government’s approval of telecom tariff adjustments, noting that the move helped prevent a financial crisis in the sector and enabled the company to ramp up capital expenditure to about N1 trillion in 2025 to improve network quality.
Speaking during an interview on Arise News, the MTN boss dismissed claims that the company is solely South African, despite its origins.
According to him, MTN Nigeria is incorporated locally, listed on the Nigerian Exchange, pays taxes in Nigeria, and is largely managed by Nigerians.
“We are labelled as a South African company because MTN Group was founded in South Africa. But the reality is that MTN Group has a very diverse global shareholding. Only about 50 percent of the shareholding is African, while the rest is held by investors from North America, Europe, the United Kingdom, the Middle East and Asia-Pacific,” he said.
Speaking further on MTN Nigeria’s identity, Toriola stressed the company’s deep roots in the Nigerian economy.
“MTN Nigeria is a Nigerian company through and through. We are domiciled in Nigeria. We are listed on the Nigerian Exchange. We pay all the taxes, duties and levies expected of us, and we are run by Nigerians.
“I am Nigerian. Apart from one executive, every member of our executive committee is Nigerian, while our entire expatriate workforce in Nigeria is just four people.
“We have over 201,000 retail investors, while about 11 million Nigerians own MTN shares indirectly through pension funds. We are very proud of our Nigerian identity,” he stated.
On the recent telecom tariff adjustment, Toriola said the increase was driven by necessity rather than profit motives, noting that operators were struggling to meet basic financial obligations before the review.
“People perceived the tariff increase as an aspiration for profitability, but the reality was that we were on our knees financially. We couldn’t even pay our month-to-month bills with the revenues we were generating. The tariff adjustment was an absolute necessity. It enabled us to stay alive,” he said.
He added that the improved revenue base has enabled MTN to scale up infrastructure investments to enhance service delivery.
“In the first quarter of this year alone, we spent N390 billion on capital expenditure, compared with a profit after tax of N359 billion. That shows our commitment to improving quality of service,” he said.
Addressing concerns over poor network quality, Toriola attributed the challenges to increasing demand, infrastructure gaps, vandalism, insecurity, and unreliable power supply.
“There are people who deliberately pour petrol into our manholes and set them on fire. A single incident can knock out services for millions of subscribers. We also face security challenges that prevent our engineers from quickly accessing some sites.
“In addition, we operate about 18,000 sites nationwide, each requiring generators, batteries, rectifiers and constant fuelling because of inadequate public electricity supply. All these affect quality of service,” he explained.
While acknowledging that service quality still needs improvement, he assured customers of continued investment.
“We are not perfect, but we are investing aggressively and continuously striving to do better,” he added.
On allegations that telecom operators deliberately deplete customers’ data, Toriola said findings often point to background data usage by smartphone applications.
“There is a perception that MTN goes and takes customers’ data, but our studies have shown repeatedly that background applications are consuming much of that data.
“I encourage customers to check their device settings. Daily automatic backups are unnecessary for many users. If possible, carry out backups over Wi-Fi instead of mobile data,” he advised.
Telecom
MTN Nigeria Celebrates Volunteers at Y’ello Care Impact Showcase

MTN Nigeria celebrated its 2026 edition of the 25 Days of Y’ello Care employee volunteerism initiative with an impact showcase held at the MTN Rooftop, Ikoyi, on Wednesday, June 24, 2026.

MTN Nigeria
This year’s edition saw employees move beyond financial donations to invest their time, skills, and even their blood [donations] into underserved communities across the country.
The impact showcase served as a reflection point on weeks of intensive outreach, including the recent medical intervention at Badore Market in Ajah, where traders received free screenings for hypertension, diabetes, and other non-communicable diseases which schools benefit from and many more.
Hundreds of market women, artisans, and residents benefited from on-the-spot consultations, medications, and health education sessions led by MTN staff volunteers.
In Lagos, the initiative brought critical health and wellness resources directly to the youth at Kuramo Senior College. Volunteers led intensive health awareness campaigns and structured medical outreach programmes, equipping students with vital information on preventive care and personal well-being.
Simultaneously, the regional execution extended to the nation’s capital to support the busy transit community at Utako Motor Park in Jabi, Abuja.
This regional activation targeted transport workers and commuters with the “Know Your Numbers” campaign, providing accessible basic health screenings, general wellness education, and essential medical checkups designed to promote long-term preventive healthcare.
Setting the tone for the ceremony, Ayham Moussa, Chief Operating Officer, MTN Nigeria, praised the dedication of staff volunteers who consistently showed up across the campaign’s field activations. “From day one, we said we don’t just give money we sacrifice, we put in the effort, we go to the field, and we even give our blood.
“Not many companies are doing what we are doing today. We are one of the very few making this kind of big impact,” he said.
Building on that sentiment, Odunayo Sanya, Executive Director of the MTN Foundation, celebrated the cultural shift the initiative has triggered both inside and outside the organisation. “The greatest takeaway from Y’ello Care is that it confronts you with your privilege and helps you channel that privilege in the right direction.
“Someone told me today that she never knew MTN would do these kinds of things in the market. We are changing the narrative of what MTN means to communities,” she noted.
The impact showcase ultimately reinforced that Y’ello Care is a sustained movement embedded in MTN Nigeria’s corporate culture. With healthier markets, empowered communities, and inspired employees as visible proof of impact, the company signaled that its commitment to equitable health and social good will continue well beyond the 25 days shaping a future where business and purpose remain inseparable.
Telecom
Listicle: 10 Essential Meta Safety Tools Every Parent and Teen Should Know

As teens spend more time online connecting, creating, and exploring their interests, safety needs to be built into their digital experiences.

To ensure safe, age-appropriate online experiences for teens, Meta has Teen Accounts to give parents more peace of mind and address their top concerns: making sure teens see age-appropriate content and don’t experience unwanted contact.
Here are 10 ways Teen Accounts are helping create safer and more positive online experiences for young people.
Teen Accounts Are Private by Default: Teen Accounts automatically come with private settings enabled. This means teens must approve new followers, and people who don’t follow them cannot view or interact with their content. And with Teen Accounts teens under 16 need a parent’s permission to change any settings to be less strict.
Stricter Messaging Controls Reduce Unwanted Contact: Teen Accounts are automatically placed in the strictest messaging settings, allowing messages only from people teens already follow or are connected to.
Sensitive Content Is Limited Automatically: Teens are automatically enrolled in Teen Accounts and defaulted into 13+ age appropriate content settings, These settings help create a more age-appropriate experience by limiting exposure to sensitive content such as violence, graphic imagery or content promoting cosmetic procedures. Teens also won’t be able to follow, message or see accounts that regularly share age-inappropriate content, or whose profile photo, name or bio suggests the account may not be suitable for younger users.
Protections Against Bullying Are Built In: Meta automatically enables its strongest anti-bullying protections for Teen Accounts. Hidden Words filters offensive language from comments and message requests, helping create a more positive experience.
Tagging and Mentions Are More Controlled: To reduce unwanted interactions, teens can only be tagged or mentioned by people they already follow.
Screen Time Reminders Encourage Healthier Habits: After 60 minutes of daily usage, teens receive reminders encouraging them to take a break from the app and spend time offline.
Sleep Mode Supports Better Digital Wellbeing: Teen Accounts automatically switch to Sleep Mode between 10 PM and 7 AM, muting notifications and sending automatic replies to direct messages overnight.
Parents Can See Who Their Teens Are Chatting With: While parents cannot read their teen’s messages, supervision tools allow them to view who their teen has messaged over the previous seven days, creating greater transparency while respecting privacy.
Parents Can Set Time Limits and Usage Schedules: Parents can establish daily Instagram usage limits and block access during specific times, such as school hours, study periods, or overnight.
Family Center Gives Parents Resources and Support: Meta’s Family Center brings all parental tools across Instagram, Facebook, and Messenger into one hub, so parents can manage and supervise their teen’s experiences more easily. Parents can also see the topics their teen has chosen to explore, and access expert-backed resources to help them have meaningful conversations about being online.
Building Safer Digital Experiences Together
Teen Accounts are designed to help parents feel more confident about their teens’ online experiences while empowering young people to connect, create, and discover content in age-appropriate ways. Combined with parental supervision tools, Family Center resources, and digital literacy initiatives, Teen Accounts represent Meta’s ongoing commitment to creating safer online spaces for young people and their families.
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