MTN Nigeria’s MoMo PSB Applies for Expanded Licensing

In a notable shift for Nigeria’s financial services, MTN Nigeria’s MoMo Payment Service Bank (PSB) has applied for two additional licences—Payment Service Solutions Provider (PSSP) and Payment Terminal Service Provider (PTSP).

ByEmmanuel DanijiNovember 6, 20240Comments

News

MTN Nigeria Rebounds to Profit with N4.13 Billion in Q3 2024 After FX and Operational Adjustments

After facing three consecutive quarters of losses, MTN Nigeria Communications Plc has made a comeback, reporting a profit after tax of N4.13 billion in the third quarter of 2024. The telco’s strategic pivot toward managing foreign exchange (FX) exposures and optimizing operational efficiency helped it recover from the challenging environment created by the Central Bank…

ByEmmanuel DanijiOctober 31, 20240Comments

News

MTN Nigeria CEO Karl Toriola Threatens Telco Shutdown if Tariffs are not Increased

Speaking during a tour of MTN’s facilities in Ibeju-Lekki, Lagos, to a group of Media Innovation Programme Fellows, Toriola painted a grim picture of the industry’s financial health. He stressed that without a significant revision of tariffs, the sector’s ability to continue operations is at risk.

ByEmmanuel DanijiOctober 23, 20240Comments

News

MTN Nigeria Renews Lease with IHS Towers, Ending Two-Year Dispute

MTN Nigeria, the country’s largest telecommunications operator, has successfully renewed its lease agreements with IHS Towers, resolving a two-year negotiation that had raised concerns about the future of the telco’s infrastructure. This agreement is a critical development for both companies, with significant implications for Nigeria’s telecommunications landscape.

ByEmmanuel DanijiAugust 8, 20240Comments

Operations

MTN Nigeria Acquires Full Ownership of MoMo PSB

MTN Nigeria has announced the acquisition of the remaining minority shares in MoMo Payment Service Bank (MoMo PSB) from Acxani Capital for ₦6.95 billion.

ByEmmanuel DanijiAugust 6, 20240Comments