MTN OFFICES MAY REOPEN TODAY

  Ife Ogunfuwa MTN Nigeria is to reopen its offices for business today after a five-day suspension of its business activities. MTN Nigeria has announced the closure of its offices nationwide and directed its workers to stay at home after some of its outlets were targeted by protesters in Nigeria. The decision to close its offices last week was because of reprisal attacks from Nigerians due to the ongoing xenophobia in South Africa. Other South African businesses in Nigeria such as Shoprite and PEP store were also attacked by protesters…

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XENOPHOBIA: OSHIOMHOLE CALLS FOR TOTAL BOYCOTT OF SOUTH AFRICA’S BUSINESSES AND SERVICES

The National Chairman of Nigeria’s ruling party, APC, Adams Oshiomhole, has urged Nigerians to boycott South African goods and services to protest the killings of Nigerians and other nationals living in that country. Mr Oshiomhole gave the advice at a news conference in Abuja on Thursday. He recalled that over past year, Nigerians have been mistreated in different parts of South Africa. “This is the time to show commitment to our citizens and show sympathy to our loved ones,” the party chairman said. “This can be done by boycotting South…

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MTN CLOSES SHOP IN NIGERIA OVER XENOPHOBIA REPRISAL ATTACKS

Telecommunications giant, MTN, has announced the closure of all its shops in Nigeria. This may not be unconnected with the threat by some Nigerians to retaliate the Xenophobic attacks on Nigerians in South Africa. There have been attacks on Nigerians and their businesses in South Africa, an action which the Minister of Foreign Affairs Geoffrey Onyeama said the South African government was not doing enough to quell. The attacks by South Africans also led to an attempt by some Nigerians to raze some South Africa-owned companies in Nigeria, including MTN,…

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MTN DRAGS FIRS TO TRIBUNAL OVER 330BIL FINE

MTN Nigeria Communications Plc has said its tax dispute with the Federal Inland Revenue Service (FIRS) is before the Tax Tribunal set up by FIRS Chairman, Tunde Fowler and Minister of Finance, and are awaiting a decision. In a statement, the telco said: “Our attention has been drawn to media reports regarding the status of taxes relating to the 2015 fine imposed on MTN Nigeria Communications Plc (MTN). We acknowledge that there is a technical disagreement between MTN and the Federal Inland Revenue Service (FIRS) as to how the fine should…

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MTN IN FRESH TROUBLES WITH FIRS OVER TAX ON FINE

The Federal Inland Revenue Service has queried MTN Nigeria for deducting tax from the ₦330 billion fine it paid the NCC for SIM card infraction. The FIRS boss, Babatunde Fowler, who insisted that the telecommunication giant still has an issue to resolve despite “paying” the fine, said the company does not have the right to deduct tax from the money paid to the NCC. According to Fowler, the fines and penalties for regulatory infractions are revenues paid to the FG and should not be subjected to any tax deductions contrary…

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MTN TO CONVERT RECHARGE CAR SELLERS TO FINANCIAL SERVICE AGENTS

Dipo Olowookere The management of MTN Nigeria Communications Plc has confirmed securing an approval from the Central Bank of Nigeria (CBN) to offer financial services to millions of residents of the country. A statement signed by its scribe, Uto Ukpanah, on Wednesday, July 31, 2019, said the licence was obtained by its subsidiary, Yello Digital Financial Services limited (YDFS), so as to deepen financial inclusion in Nigeria. According to the statement, the telco will engage the services of its airtime dealers spread across the country to offer the financial services…

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HOW MTN MADE 470BIL NAIRA IN NIGERIA IN 6MONTHS FROM YOU AND ME

  Ife Ogunfuwa MTN Nigeria made a total of N469.4bn revenue from sales of airtime, data and Short Messaging Service in the first six months of the year, the 2019 half-year unaudited financial report of the company stated. The telecom company reported that N359bn revenue was generated from sale of airtime and subscription, N103.3bn from data services and N7.05bn from SMS. Analysis of the report showed that the total earnings increased by 13 per cent from N413.6bn earned from the same services, in the corresponding period in 2018. This earning…

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MTN POSTS 567BIL REVENUE IN 6MONTHS

MTN Nigeria MTN Nigeria Communications Plc on Friday released its unaudited result for the six months ended June 30 and announced an interim dividend of N2.95 per share to its shareholders. The company’s unaudited result released by the Nigerian Stock Exchange (NSE) showed that the N2.95 interim dividend would be for eligible shareholders on Aug.16. The dividend is payable to shareholders whose names appear on the company’s register at the close of business on Aug. 8, while the register closes from Aug. 9 to Aug.13. The company, during the period…

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MTN RETIRES PASCAL DOZIE, PICKS ERNEST AS NEW CHAIRMAN DUKWE

MTN Nigeria has announced the retirement of Pascal Dozie as chairman of its board of directors after 18 years. He is to be replaced by former chief executive officer of the Nigerian Communications Commission (NCC), Ernest Ndukwe, with effect from September 2, 2019, Igbere TV reports. Others retired alongside Ndukwe, 80, are vice-chairman, Col. Sani Bello (Rtd); non-executive director, Victor Odili; non-executive director, Ahmed Dasuki; non-executive director, Babatunde Folawiyo, and non-executive director, Gbenga Oyebode. A statement released by the company’s spokesman, Funso Aina, on Wednesday, said the men were retired…

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FG’S DDISOUTE WITH MTN COST NIGERIA 43% DROP IN DIRECT FOREIGN INVESTMENT IN 2018

By Yinka Kolawole, with agency report Nigeria’s dispute with the telecommunications giant, MTN Nigeria Plc, may have taken a severe toll on the nation’s foreign direct investment profile as FDI plunged 43 percent in 2018 at the backdrop of a significant 13 percent rise in FDI across sub-Sahara Africa within the same period. MTN-Office The FDI inflow closed at $2.0 billion in 2018, down from $3.5 billion in 2017, according to a report by the United Nations Conference on Trade and Development (UNCTAD), a development which the report said, came…

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