MTN Nigeria triples its losses as forex woes and inflation bite

MTN pins hopes on Nigerian tariff hikes to boost service revenue

President Bola Tinubu has announced plans to reform the telecom regulatory framework

MTN recovers N32bn in USSD debt from banks, N42bn remains unpaid - Nigeria News Update

MTN Nigeria has successfully recovered N32 billion from Nigerian banks as part of the N74 billion outstanding debts owed for Unstructured Supplementary Service Data (USSD) service charges. However, N42 billion … The post MTN recovers N32bn in USSD debt...

MTN Nigeria triples its losses as forex woes and inflation bite

MTN Nigeria, the mobile operator’s largest market, has reported a threefold increase in its annual loss, driven by foreign exchange pressures and a sharp rise in operating expenses.

MTN reports N400bn loss as naira devaluation hits earnings

MTN Nigeria reported a N400.44bn loss after tax for the year ended December 31, 2024, as the devaluation of the naira drove up foreign exchange losses and weighed on the company’s earnings. The loss, disclosed in the company’s audited financial statements released on Thursday, represents a 192 per cent increase from the N137.02bn loss recorded […]

MTN Forex Losses Hit N925.36bn As Telcos Battle Rising Cost

…Loss After Tax Widens By N263bn To N400bn MTN Nigeria Plc has announced financial performance for the 2024 fiscal year, suffering a net foreign exchange loss of N925.36bn in the 2024 financial year as against N740.43bn reported in 2023 representing a growth of 25 per cent. The drop is attributed to the depreciation of the naira and rising inflation wherein in the foreign exchange market, the naira depreciated to N1,535/US$ by the end of 2024 (f…