Monday, October 20, 2025
30.4 C
Lagos

MTN Plans Exit from Nigeria

MTN may exit the Nigerian market over what it terms incessant imposition of fines and penalties on it by the Nigerian Communications Commission (NCC) and endless harassment by the National Assembly through Senate probes.

A senior executive of MTN Nigeria told Business Journal during a chance meeting in Lagos:

“Nigeria of today is a very hostile operating environment for MTN. Can you imagine that the NCC imposed a $5.2 billion/N1.04 trillion fine on MTN over unregistered SIM cards, tarnishing the brand reputation of the company across the world? It seems very clear that the NCC EVC, Danbatta came into office with a negative mindset to kill MTN. And before we could recover from that dark episode,

the Senate began harassing the company over alleged illegal transfer of $13.2 billion. I can tell you that one or two directors of MTN are already discussing the possibility of MTN leaving Nigeria if the endless hostility of NCC and Senate continues unabated this year.”

The NCC imposed a fine of $5.2 billion on MTN in 2015 over sale of unregistered SIM cards. The fine was later reduced to N330 billion over a period of three years.

In the same vein, the Senate also commenced investigation against MTN Nigeria over alleged illegal transfer of $13.2 billion from Nigeria to its headquarters in South Africa through Diamond Bank, Citigroup, Stanbic IBTC and Standard Chartered Bank.

According to latest figures from the NCC, MTN Nigeria is the largest telecom operator in Nigeria with 39.91 percent of the market as at November 30, 2016. This translates to 61.2 million subscribers.

However, the company’s Internet Data subscription declined from 32, 386,071 in April 2016 to 32, 071, 779 in November last year.

spot_img
spot_img
spot_img

Hot this week

When Transparency Becomes Luxury: INEC and ₦1.5bn FOI Controversy

By Chike Walter Duru When the Independent National Electoral Commission...

Unity Bank Corpreneurship Challenge Beneficiaries Hit 578 as 30 More Winners Emerge

  No fewer than 578 young entrepreneurs across Nigeria have...

Polaris Bank Reinforces Commitment to Exceptional Customer Experience at Global Trade Forum in Ibadan

Chris Ofikulu, Executive Director, Retail & Commercial Banking, Polaris...

Fidelity Bank Bags Awards for Best Export, Trade Support and Innovation

  Fidelity Bank’s market leadership has been affirmed once again...

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

L:R- Funmi Olotu, National Coordinator, National Social Safety-Nets Coordinating...

Topics

Top 10 destinations for budget travelers in 2023

Elementum nulla turpis cursus. Integer liberos kusto euismod aene pretium faucibus ...

AMCON Submits List of Top 1,000 Bank Debtors to NA for Speedy Recovery

In another deft strategy to intensify its debt recovery...

Ecobank Supports Women Entrepreneurs, Partners WOWe Festival

In line with its corporate disposition to sustainable women empowerment, Ecobank Nigeria is partnering Women’s Entrepreneurship Day (WED) on the hosting of the 2015 Women of West Africa Entrepreneurship (WOWe) Festival. The WOWe Festival 2015 with the theme ‘Vision to Reality’ slated for June 25 and 26, will provide the opportunity for female entrepreneurs and corporate professional women with entrepreneurial ambitions, to secure practical information on how to transform their businesses and realise their entrepreneurial ambitions.

A New Deal on Energy for Africa—Power, Potential & Partnership

FOR THE RECORD Africa needs a new deal on energy,...

Ericsson to Acquire IT Services Capabilities from France’s Devoteam

­Ericsson has announced that it is buying the Devoteam...

World Bank Dumps Doing Business Report over Data Irregularities

The World Bank Group issued the following statement on the...

Emirates Toys for Kids This Summer Season!

Wow! Just like yesterday, Summer is almost here again....

NITDA, Microsoft Partner on ICT Innovation, Adoption

L-R: Dr Isa Ali Ibrahim, Director-General/CEO, NITDA and Mr....
spot_img

Related Articles

Popular Categories

spot_imgspot_img