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MTN Nigeria Plans N52Bn Recapitalisation

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MTN Nigeria plans to issue two series of commercial papers worth N52.895bn, according to a corporate notice filed with the Nigerian Exchange Limited on Thursday.

MTN Nigeria Plans N52Bn Recapitalisation

In the notice, the company said that Series 8 & 9 Commercial Paper notes would be under its N250bn Commercial Paper Issuance Programme.

The notice signed by Uto Ukpanah, company secretary, said, “The issuance is part of the company’s strategy to diversify its financing options with the funds being deployed towards short-term working capital and funding requirements,” with a promise to provide more details to the market later.

Recently, MTN Nigeria raised N125bn through the issuance of commercial papers series 6 & 7.

Although, the company said it sought to raise N100bn, the offer recorded 146 per cent subscription with N125bn raised across both series.

The series included a 181-day commercial paper at a yield of 13 per cent and a 265-day CP at a yield of 13.50 per cent with an issue date of August 23, 2023.

In its recently released financial results for the first nine months of 2023, MTN Nigeria said its N250bn commercial paper programme was issued in March and August 2023 and that N52bn was redeemed in the month of September 2023 with the remaining tranches maturing in November 2023 (N72bn) at 12.5 per cent, February 2024 (N52bn) at 13 per cent and May 2024 (N72bn) at 13.5 per cent.

In the period ended September 2023, MTN reported a 21.8 per cent growth in its revenue from N1.45tn in September 2022 to N1.77tn at the end of the same period in 2023.

Its net finance cost rose by 174.4 per cent to N375.95bn, and profit before tax decreased by 42 per cent to N232.46bn.

Also, the telco’s earnings per share decreased by 45.2 per cent to N7.06 kobo while profit after tax declined by 45.2 per cent to N147.36bn.

MTN’s mobile subscriber base reached a new high of 77.6 million users as it added approximately 2 million users in the nine months. 3.6 million active data users were added in the nine months as its total data traffic rose by 46.3 per cent, and data usage (GB per user) grew by 29.1 per cent.

On the side of its fintech business, MTN Nigeria said it was recovering from the slowdown in H1 as active wallets rose by 1.6 million to 3.6 million, with over 293,000 MoMo agents and 197,000 merchants.

 

 


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Telecom

Reps Approve NCC’s N479.508Bn Budget for 2026

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House of Representatives, during Tuesday’s plenary, approved the sum of N479.508 billion budget for the Nigerian Communications Commission (NCC) for the 2026 fiscal year.

Reps Approve NCC’s N479.508Bn Budget for 2026

The resolution was passed after the clause-by-clause consideration of the report at the Committee of Supply.

While giving synopsis of the report,  Peter Akpatason, chairman, House Committee on Communications, explained that the total sum of N479,508,260,000 is to be issued from the Statutory Revenue Fund of the Nigerian Communications Commission.

Out of the issued sum, N124,440,652,000 is meant for Recurrent Expenditure; N26,779,045,000 is for Capital Expenditure; N32,011,492,000 is for Special Projects, while the sum of N20 billion is for Transfer to Universal Service Provision Fund (USPF), N276,277,071,000 is for Transfer to Federal Government for the financial year ending 31st December, 2026.


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NCAN Commends NCC for Mandating Telcos to  Compensate Subscribers for Poor Services

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National Consumers Advocacy Network (NCAN), a  consumer advocacy group focused on protecting the rights of consumers, has commended the Nigerian Communications Commission (NCC),for introducing a policy compelling telecom operators to compensate subscribers for poor network service.

NCAN Commends NCC for Mandating Telcos to  Compensate Subscribers for Poor Services

In a statement issued on Tuesday and signed by Dr Tobi Olanrewaju, its president, the group described the directive as a bold and consumer-focused intervention.

The group noted that the move, which has already seen major telecom operators begin compensating subscribers with airtime credits, marks a shift from what it described as regulatory leniency to measurable accountability.

“For years, Nigerian telecom subscribers have endured suboptimal service quality with little or no consequence for operators,” the statement read.

“What we are witnessing under Dr Aminu Maida is a clear assertion that regulatory oversight must translate into tangible benefits for consumers. This is not merely about compensation; it is about restoring trust in the system.”

According to Olanrewaju, the policy’s provision for automatic compensation without requiring subscribers to lodge complaints demonstrates a strong understanding of the challenges faced by many Nigerians.

“This intervention acknowledges a fundamental principle that the burden of service failure should not rest on the consumer,” he said.

He added that linking compensation directly to actual service disruptions at the local level sets a new standard in regulatory practice.

The group also praised the Commission’s decision to monitor service quality at the Local Government Area level, describing it as a step towards capturing real user experiences rather than relying on general national data.

Olanrewaju further commended the Commission’s simultaneous push for telecom operators to invest in network upgrades, noting that the approach addresses both immediate and long-term concerns.

“While consumers receive immediate value for past deficiencies, the root causes of poor service are being systematically addressed,” he said.

The advocacy group urged telecom operators to embrace the directive as an opportunity to rebuild consumer trust and improve service delivery.

It also called on other regulatory agencies to adopt similar people-centred approaches in tackling systemic challenges across sectors.

“Dr Maida has demonstrated that regulation, when properly executed, can serve as a powerful tool for social and economic justice,” Olanrewaju added.

The group reaffirmed its support for the Commission’s ongoing reforms and called for sustained collaboration between regulators, operators, and consumers.

It added that the true success of the policy would be measured by lasting improvements in network performance across the country.


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Telcos Recover N2 Trillion following Crackdown on Indebted Subscribers

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Telecommunications operators in Nigeria have reportedly recovered over N2 trillion from subscribers in a sweeping debt recovery campaign that has left millions unable to make calls due to unpaid airtime and data loans.

Telcos Recover N2 Trillion following Crackdown on Indebted Subscribers

The aggressive enforcement follows new compliance requirements introduced by the Federal Competition and Consumer Protection Commission (FCCPC), which telecom operators reportedly failed to meet, according to The News Chronicle.

This led to the suspension of airtime and data lending services and triggered a nationwide push to recover outstanding debts.

As part of the measures, indebted subscribers have had their lines restricted from making calls until their loans are fully repaid.

The move has disrupted daily life across Nigeria, particularly for small business owners and workers who depend heavily on mobile connectivity.

The lending service, valued at over N400 billion annually, has long served as a financial lifeline for many Nigerians, especially those without access to formal credit systems.

However, its sudden suspension has forced users to seek alternative means to clear their debts or abandon their lines altogether.

Meanwhile, a legal dispute involving Nairtime Nigeria Limited has added another layer of complexity.

A Federal High Court in Abuja recently ordered MTN Nigeria and Airtel Nigeria to maintain access to key telecom infrastructure, including USSD and SMS services linked to the platform.

Despite the court’s interim injunction, lending services tied to the platform remain unavailable, indicating ongoing tensions between telecom providers, regulators, and fintech firms.

Industry stakeholders warn that the disruption highlights deeper challenges within Nigeria’s digital economy, where telecom infrastructure increasingly supports financial services.

Millions of users who rely on airtime and data borrowing remain disconnected, caught between regulatory policies, corporate disputes, and the need for affordable communication.

As pressure mounts, both regulators and telecom operators are expected to seek a resolution that balances consumer protection with uninterrupted access to essential digital services.


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