• Trade restriction: Sacked workers win case against MTN

    Trade restriction: Sacked workers win case against MTN

    One of the GSM service providers in the country, MTN Nigeria has been ordered to pay full four years post-disengagement salaries to 63 workers, who were laid off by the company in 2009.

    The Lagos Division of the National Industrial Court, which handed this order, also awarded additional N10,000 against MTN in favour of each of the 63 workers to cover the cost of filing the suit marked: NICN/LA/596/2013.

    The court presided over by Justice P.O. Lifu said the mobile telecoms company […]

  • MTN in crucial meetings with SEC, plans to list its shares on Nigeria Stock Exchange

    MTN in crucial meetings with SEC, plans to list its shares on Nigeria Stock Exchange

    The Securities and Exchange Commission (SEC) has disclosed that it held crucial meetings with South Africa’s telecoms group, MTN to discuss its possible initial public offering of shares to Nigeria investors.

    Director General of SEC, Mounir Gwarzo,  stating this on Monday said MTN had discussed the possibility of issuing various classes of shares to targeted investor groups and that the telecoms firm was looking at three different classes, which would be new in Nigeria.

    Gwarzo said the Commission was willing to support […]

  • Col. Umar to sue MTN over fraudulent deductions, unsolicited SMS

    Col. Umar to sue MTN over fraudulent deductions, unsolicited SMS

    Former military Governor of Kaduna State, Colonel Abubakar Dangiwa Umar (retd), has decided to sue MTN over unsolicited messages and fraudulent deductions by the telecoms giant.

    Speaking on Saturday, Umar said he has briefed his lawyers to file the suit against MTN after complaining over unsolicited messages and deductions to no avail.

    He said despite assurances that it will not happen again, he has started receiving unsolicited messages accompanied by deductions of money from his telephone line.

    He forwarded two of the latest […]

  • MTN suspends Nigeria dividend payout

    MTN suspends Nigeria dividend payout

    MTN says it had suspended dividends payouts from Nigeria, where it runs the biggest wireless phone network and which generates a third of its annual sales.

    The company reported a slight fall in third-quarter user numbers due to a weaker showing in South Africa, where it vies for market share with Vodacom and Cell Companies.

    The telecoms company announced this in Johannesburg on Monday, as the firm faces allegations it illegally moved 14 billion dollars out of Nigeria.

    MTN Group’s next chief executive […]

  • CBN ‘orders’ banks to suspend payment of MTN dividends

    CBN ‘orders’ banks to suspend payment of MTN dividends

    According to reports, the Central Bank of Nigeria (CBN) has ordered the suspension of MTN Group dividend payment from the Nigerian subsidiary of the telecommunications giant, until further notice.

    In a quarterly update to shareholders, MTN Group said it was not guilty of the illegal repatriation charges levelled against it by the Nigerian senate, stating that the claims are totally unfounded and without merit.

    Addressing the latest developments on the alleged illegal repatriation of $13.97 million by the Group, MTN said the […]

  • MTN denies illegal transfer of $14bn from Nigeria

    MTN denies illegal transfer of $14bn from Nigeria

    South Africa’s MTN has denied allegations it illegally transferred $13.9 billion from Nigeria with the collaboration of top officials, in the latest scandal to hit the telecoms company in its largest market on the continent.

    The Johannesburg-based firm is facing a parliamentary probe over accusations it connived with senior Nigerian officials to move the funds out of the country without complying with the law.

    A parliamentary source and local media said the funds were allegedly repatriated between 2006 and this year.

    “We would […]

  • Buhari orders probe of Chief of Staff, Abba Kyari over N500m MTN scandal

    Buhari orders probe of Chief of Staff, Abba Kyari over N500m MTN scandal

    Chief of Staff to President Muhammadu Buhari, Alhaji Abba Kyari is said to be under investigation by the Special Investigation Panel of the Nigerian Police Force over bribery allegations.

    The probe according to Newsmen’s investigation is in connection with alleged N500million bribery money said to have been paid to the Chief of Staff by officials of South African owned MTN Telecommunications Company with the intent that the COS influence government to discontinue its heavy stance on the $5billion fine

    It would be […]

  • No NCC official was bribed over N330B MTN fine – Maikano

    No NCC official was bribed over N330B MTN fine – Maikano

    It was gathered that the Nigerian Communications Commission yesterday discredited claims that some of its officials were bribed in the negotiation and ongoing settlement of the N330Billion fine the agency slammed on GSM network provider, MTN Nigeria.

    Abdullahi Maikano, Director, Consumer Affairs Bureau, of the commission debunked the claims in Effurun, Uvwien council area, Delta state where the telecoms regulator held its 22nd Consumer Town Hall Meeting.

    Represented by his deputy, Dr Femi Atoyebi on the occasion, Maikano said, “No NCC official […]

  • MTN’s repatriated $13.9bn can pull Nigeria out of recession, says Saraki

    MTN’s repatriated $13.9bn can pull Nigeria out of recession, says Saraki

    According to reports, the President of the Senate, Dr Bukola Saraki said on Thursday that the $13.9bn allegedly repatriated by MTN Nigeria was enough to pull the country out of recession.

    Saraki disclosed this while opening the legislative hearing on the alleged repatriation of the funds by MTN, nation’s giant telecoms provider, in connivance with some Nigerian banks and individuals.

    The investigative hearing is being conducted by the Senate Committee on Banking, Insurance and Other Financial Institutions.

    The President of the Senate, who […]

  • Senate hires international forensic experts to probe MTN

    Senate hires international forensic experts to probe MTN

    It was gathered that the Senate has begun investigation into the alleged repatriation of $13.9 billion by MTN.

    Conse‎quently, it has hired international forensic lawyers, accountants and other experts to assist in the investigation.

    The Chairman of the Senate Committee on Banking, Insurance and other Financial Institutions, Sen. Rufai Ibrahim, disclosed this while briefing newsmen in Abuja on Tuesday.

    Ibrahim said that the experts had arrived Nigeria and were already working with other local forensic experts to uncover any hidden details from the […]

  • Senate summons MTN, banks over $13.9bn illegal repatriation

    Senate summons MTN, banks over $13.9bn illegal repatriation

    According to reports, the Senate has launched a probe into the allegation that MTN Nigeria repatriated a total sum of $13.9bn from Nigeria to other countries between 2006 and 2016 by summoning the management of the telecoms service provider, their bankers and some businessmen over alleged violation of the Foreign Exchange (Monitoring and Miscellaneous) Act.

    During its plenary on Thursday, the Upper Chamber requested MTN and the others to appear before its Committee on Banking, Insurance and Other Financial Institutions next […]