Business
MTN Lines Barred, Sparking Subscriber Outrage
MTN has announced a barring of lines for some subscribers today, reportedly affecting those who have not updated their National Identity Number (NIN) as mandated by regulatory standards.
The telecommunications giant has advised impacted customers to visit service centers or use the online platform to update their details and restore service.
The move is part of MTN’s effort to comply with regulatory guidelines aimed at maintaining accurate customer records and enhancing security.
However, one long-time subscriber has expressed significant frustration after their line was barred without prior notice.
The customer, who has used their MTN line for over a decade and linked it to their NIN multiple times, feels this sudden action undermines their expectation of respect and dignity from the service provider.
MTN has not yet specifically addressed this case but reiterates its commitment to regulatory compliance and encourages affected users to update their information to restore their services.
Ecobank Group is reportedly set to raise up to $250 million through an Additional Tier 1 (AT1) capital offering in order to strengthen the bank’s capital base.
This was revealed during the company’s annual general meeting held in Togo on the 29th of May, 2025. According to the meeting, the bank stated that the conversion price for the shares will be based on the higher of the prevailing exchange rate and the floor price of $0.02 per ordinary share.
The speaker stated “As we cast our eyes into the future and reimagine all possibilities—rising competition from banks, fintechs, and non-bank financial institutions, as well as factors such as geopolitics, regulations, and capital markets—we cannot afford complacency.”
The Central Bank of Nigeria (CBN) recently assured stakeholders about the state of the banking sector in Nigeria, stating that the banking sector can still be trusted and is secure.
The assurance was shared in a statement signed by Hakama Sidi Ali, Acting Director of Corporate Communications at the CBN. In the statement, it was emphasized that stakeholders should disregard any negative news concerning the banking sector, as such reports are misleading.
The CBN also highlighted the security of the deposits entrusted to it, stating, “There is no reason for the public to worry about the security of their deposits.” The extent of the measures and security in place was also emphasized by the director in the statement.
Nigerian Businessman Dr. Cosmos Maduka analyzes popular Billionaire, Aliko Dangote and describes him as the biggest debtor in Nigeria.
The businessman highlighted the fact that people who seem to have the most money are often the largest debtors.
“The number one debtor in Nigeria is Aliko Dangote. He’s the wealthiest man in Africa. The number one debtor in the world is the United States of America and you call them the richest in the world.”
“As you admire all of those things, it’s all credit. It’s all about credit. So you should leverage on loan, but you have to have a good structure that will support that loan.”
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