Connect with us

Telecom

MTN Nigeria Issues N127Bn Series 1 and 2 Commercial Paper

Published

on

Karl Toriola,  CEO, MTN Nigeria,
Kindly share this post

MTN Nigeria Communications Plc has announced the issuance of N127 billion Series 1 & 2 Commercial Paper under its registered N150 billion Commercial Paper Programme.

MTN Nigeria Issues N127Bn Series 1 and 2 Commercial Paper

In a notification Monday sent to the Nigerian Exchange Limited and the investing public, the Company said the issuance comprised two tenors – a 184-day Serie issuance priced at a 7.50% yield and a 254-day Series 2 issuance priced at an 8.50% yield.

The company added that the issuance is in line with its strategy to diversify its financing options, with the proceeds being deployed towards working capital and general corporate purposes.

Speaking at the signing ceremony of the bond, Olukotun Karl Toriola,  CEO, MTN Nigeria, said, “We are delighted to have successfully concluded what will go into the record books as the largest Commercial Paper issuance in Nigeria. The success of our CP Issuance is a clear demonstration of the strength and acceptance of the MTN brand, and the trust placed by the investor community in our company’s leadership, strong financial performance and corporate strategy.

“Having emerged as one of two winners for the 5G spectrum recently auctioned by the Nigerian Communications Commission and also having just been granted final approval by the Central Bank of Nigeria for Momo Payment Service Bank Limited to commence operations license, this landmark issuance represents yet another step towards our cementing MTN Nigeria’s leadership in Nigeria’s telecommunications sector.

According to MTN Nigeria boss, Stanbic IBTC Capital Ltd served as the Lead Arranger and Dealer for the deal, while Chapel Hill Denham Advisory Ltd additionally helped to rearrange the deal, alongside Coronation Merchant Bank, FBNQuest Merchant Bank, Standard Chartered Capital and Advisory Nigeria Ltd, FSDH Capital and UCML Capital.

Toriola said; “First and foremost, we thank our customers and the investor community for their continued support and confidence in the MTN brand and all it stands for. We thank Stanbic IBTC Capital, our Lead Arranger and Dealer on this landmark CP Issuance, and our Joint Dealers – Chapel Hill Denham, Coronation Merchant Bank, FBNQuest Merchant Bank, FSDH Capital, Standard Chartered and UCML Capital.

“We also thank all other professional parties to the transaction, who worked tirelessly to ensure its timely and successful completion and the board and management of FMDQ Securities Exchange for providing an efficient platform for raising short term funding via the issuance of commercial papers.”

The commercial paper is an unsecured, short-term debt instrument generally utilized by firms to boost capital from the general public and handle their short-term monetary liabilities.

The most maturity date for a commercial paper is usually 270 days.

With MTN Nigeria recent acquisition of the ultimate approval from the Central Bank of Nigeria to start working Momo Payment Service Bank Ltd in the country, analyst thus opines that the leading communication company will be needing some working capital to facilitate the brand new enterprise.

 

 

 

 

 

 


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

NCC Pledges Executive Support, Policy Incentives for Local Device Manufacturing

Published

on

Kindly share this post

Nigerian government has opened a high-stakes window of opportunity for international tech investors, offering direct presidential intervention and sweeping economic waivers for hardware companies that anchor their manufacturing hubs in Nigeria by November 2026.

NCC Pledges Executive Support, Policy Incentives for Local Device Manufacturing

Chief Idris Ibikunle Olorunnimbe

Chief Idris Ibikunle Olorunnimbe, the Chairman of the Governing Board of the Nigerian Communications Commission (NCC), made this groundbreaking declaration during his ministerial-level address at the Digital Africa Summit Roundtable in Shanghai.

Highlighting the government’s total dedication to backing these new factories, Olorunnimbe stated: “Whatever it takes to get the plant standing, we will pursue it together, because every factory that rises in Nigeria grows our economy, employs our young people, and brings the price of a phone closer to what an ordinary Nigerian can pay”.

The offer is designed to stimulate immediate foreign direct investment and create sustainable employment for Nigeria’s teeming youth population.

The economic logic underwriting this regulatory ultimatum is both practical and urgent. Currently, the Nigerian telecommunications ecosystem is highly vulnerable to external economic shocks, with foreign-exchange swings and import duties constantly pushing genuine, formal devices out of reach for average citizens.

By localising the supply chain, the NCC seeks to anchor device pricing to the local currency, stripping away the pricing volatility tied to the US Dollar.

Olorunnimbe candidly stated that the administration is ready to deploy massive executive support, viewing connectivity infrastructure as the central engine of President Tinubu’s Renewed Hope agenda, which treats “connectivity as productive infrastructure for the whole economy rather than a luxury for a few”.

This infrastructural push is designed to directly fuel the NCC’s highly praised initiative to transition Nigeria into an era of digital free education through the zero-rating of educational portals.

Drawing inspiration from classic free education philosophies, Olorunnimbe has previously stated that asking a child to buy data to look at a textbook is the modern equivalent of charging tuition at the gates of a public school.

To operationalise this vision, the proposed locally assembled smartphones, MiFi units, and home routers will come pre-configured with embedded access to these zero-rated educational platforms. This ensures that digital literacy tools are structurally hardwired into the technology from the factory floor.

Additionally, these indigenous devices will come pre-installed with core government application portals, simplifying access to digital identity verifications, public health services, and agricultural extensions. By embedding these essential state services directly onto affordable, locally produced hardware, the NCC is solving the double dilemma of device cost and data expenses simultaneously.

This holistic blueprint bridges the digital divide and accelerates financial inclusion, as verifiable identity frameworks, like the NIN and BVN, will allow citizens to seamlessly transition into credit-linked device-financing schemes. Olorunnimbe noted that by pairing “verifiable identity with credit history and secure device technology, then the phone itself becomes the on-ramp: to a credit record, and then to the wider financial system”.

The visionary posturing of Chief Olorunnimbe and the executive leadership of the NCC mark a paradigm shift in how government agencies foster industrial growth. Rather than relying solely on traditional, rigid enforcement against informal markets, the Commission is actively building a structured, credible marketplace via policy incentives and strategic executive support.

Through this aggressive, forward-looking roadmap, the NCC is firmly establishing Nigeria as the digital powerhouse of the African continent, demonstrating that true digital inclusion is achieved when national infrastructure serves human development.


Kindly share this post
Continue Reading

Telecom

Tinubu Signs New NIMC Act to Strengthen Digital Identity, Data Protection

Published

on

Kindly share this post

President Bola Tinubu has assented to the National Identity Management Commission (NIMC) Act, 2026, replacing the 2007 law with a new legal framework aimed at strengthening Nigeria’s digital identity system, data protection and electronic trust services.

Tinubu signs new NIMC Act to strengthen digital identity, data protection

The new Act is expected to enhance the country’s digital identity ecosystem by improving identity management, securing personal data and promoting interoperability across government and private sector platforms.

According to a statement, the legislation aligns Nigeria’s identity management framework with the provisions of the Nigeria Data Protection Act (NDPA) and international best practices on privacy and data protection.

The Act introduces stronger safeguards for the collection, processing, storage and protection of citizens’ personal information.

It also designates the National Identity Management Commission as Nigeria’s root certification authority for the National Public Key Infrastructure (PKI) and Digital Public Infrastructure (DPI).

The designation empowers the commission to provide secure digital identity, authentication and electronic trust services across the country.

The Act further authorises NIMC to facilitate secure and interoperable data exchange among Ministries, Departments and Agencies (MDAs), private organisations and other authorised entities.

It also provides for the deployment of the NIMC General Multipurpose Card as a unified identity credential for nationwide identity verification under the initiative tagged “One Card, Multiple Possibilities.”

The Federal Government said the implementation of the law would create a trusted, secure and interoperable digital identity ecosystem capable of improving access to services in both the public and private sectors.

It added that Nigerians, including those living in the diaspora, would benefit from easier access to identity services, stronger protection of personal data, enhanced cybersecurity and more secure digital transactions.

The government also said the law would provide a stronger foundation for digital governance, economic growth and long-term national development by enabling faster and more reliable identity verification and authentication processes.


Kindly share this post
Continue Reading

Telecom

Meta, FG Unveil New Safety Measures to Protect Nigerian Teens Online

Published

on

Kindly share this post

Meta on Thursday convened the Nigeria Youth Safety Summit in Abuja, bringing together government officials, civil society organisations, parents, educators, content creators and youth leaders to strengthen collaboration on digital wellbeing and safer online experiences for young people.

L-R: Sylvia Musalagani, Head of Safety Policy, Europe, Middle East and Africa (EMEA), Meta; Ayodele Olawande, Honourable Minister of Youth Development; Sade Dada, Head of Public Policy, Anglophone West Africa, Meta; and Ahmed Yusuf Tanbuwal, Ag Director, Digital Literacy and Capacity Building Department, National Information Technology Development Agency (NITDA), during the Nigeria Youth Safety Summit organised by Meta on Thursday, June 25, 2026, in Abuja.

The summit, held at the Transcorp Hilton Hotel and co-hosted with the Federal Ministry of Youth Development, highlighted Meta’s investments in youth online safety through built-in protections, parental supervision tools and digital literacy resources aimed at helping teenagers navigate the digital space safely.

The event featured keynote presentations, panel discussions and a Parents Learn and Brunch session organised in partnership with the Federal Ministry of Women Affairs and Social Development.

Participants explored practical approaches to promoting safer online engagement while emphasising the importance of partnerships among government, technology companies, parents, schools and civil society in advancing digital wellbeing.

Speaking at the summit, Meta’s Head of Safety Policy for Europe, the Middle East and Africa (EMEA), Sylvia Musalagani, said the company remained committed to providing teenagers with age-appropriate and safe online experiences.

“At Meta, our goal is to provide teens with safe, age-appropriate online experiences, and events like the Nigeria Youth Safety Summit reflect our commitment to promoting safer and more positive digital experiences for teens.

“With products such as Teen Accounts, Meta is putting the right protections in place so teens can explore their interests and express their creativity in a safe, age-appropriate space.

“We will continue to build the safety features and tools that families need to support young people online,” she said.

Musalagani explained that Teen Accounts represent a redesigned experience across Meta’s platforms specifically for teenagers.

She said the accounts are automatically enabled for all teenagers and include built-in safety features such as private accounts, the strictest messaging settings, restrictions on sensitive content, limited tagging and mentions to people they follow, daily time reminders after 60 minutes of use, and sleep mode between 10 p.m. and 7 a.m.

According to her, teenagers under the age of 16 require parental approval before making any changes that would reduce the default safety settings.

The Minister of Women Affairs and Social Development, Hajiya Imaan Sulaiman-Ibrahim, described child online safety as one of the ministry’s key priorities.

She said children require informed parental guidance to safely navigate the digital environment, stressing that online safety is a shared responsibility involving parents, technology companies and government.

“Child online safety is one of our central pillars and we are steadfast in our mandate to safeguard the Nigerian child from technology-enabled violence.

“Children cannot navigate the complexities of the online world without informed adults guiding them because safety begins with the parents.

“Safety is a shared tripartite responsibility between parents, technological industries and government.

“That is the fundamental premise of today’s summit, a hands-on walk through of parental supervision tools and Teen Accounts.

“We appreciate Meta for the collaboration and for creating a platform for these important conversations,” she said.

Meta also highlighted its parental supervision tools, which allow parents to receive notifications when teenagers report content, gain insights into who they communicate with, set daily usage limits, schedule breaks and monitor age-appropriate content interests.

The Minister of Youth Development, Ayodele Olawande, commended Meta for the initiative and noted its alignment with the ministry’s National Youth Data Protection and Awareness Training Programme.

“I want to thank Meta for this great achievement.

“At the ministry, one of the things we provide to all Nigerians is the skills to succeed in this digital world while making sure we protect them against emerging threats.

“We see a strong connection between the objectives of this summit and the goals of our National Youth Data Protection and Awareness Training Programme.

“We believe that keeping young people safe online is a shared responsibility.

“Government, technology companies, schools, parents, social organisations, community groups and young people themselves all have a role to play.

“We encourage Meta to make the tools, guides and learning materials from this initiative more widely available so that young people across Nigeria can continue to benefit from this laudable summit,” he said.

The summit concluded with discussions focused on strengthening partnerships, promoting digital literacy and advancing a shared vision for youth online safety across Nigeria.


Kindly share this post
Continue Reading

Trending