Naira Devaluation: MTN, Airtel Lost N1.29 trillion in 2023 The devaluation of the naira last year took a big bite out of the revenues of two of the country’s biggest telecommunications companies. Airtel and MTN Nigeria lost N1.29 trillion to the devaluation. MTN posted a loss...

Naira Devaluation: MTN, Airtel Lost N1.29 trillion in 2023 The devaluation of the naira last year took a big bite out of the revenues of two of the country’s biggest telecommunications companies. Airtel and MTN Nigeria lost N1.29 trillion to the devaluation. MTN posted a loss...

NGX Set New Record as Index Crosses 100,000 Points The Nigerian Exchange Limited’s benchmark index crossed the 100,000 basis point mark, setting a new all-time high record on Wednesday. At the close of trading, the All-Share Index of the local bourse gained 2,954.14 points or 2.99...

Interconnect Debt: NCC to Disconnect Glo Customers from calling MTN The Nigerian Communications Commission says it will soon bar Globacom customers from making calls to MTN lines soon due to alleged non-settlement of interconnect charges. The NCC disclosed this on Monday in a public notice signed...

Telecom: Data, Airtime Subscriptions Rise 32.5% to N2.6tn in Nine Months The amount spent on airtime and data by Nigerian telecom subscribers rose to at least N2.59tn in the first nine months of 2023. This is according to the financial statements of MTN Nigeria and Airtel...

Equity Market Falls by N35bn as Trading Declines The market capitalisation of the Nigerian Exchange Limited slid by N35bn as MTN Nigeria (-0.63 per cent), Dangote Sugar (-1.64 per cent), Lafarge Africa Plc (-1.34 per cent), United Bank for Africa(-0.24 per cent) and FBN Holdings...