Business
MTN Closes Stores Across Nigeria After Subscriber Outrage
Telecom giant MTN has decided to shut down all its stores and service centers across Nigeria today in response to significant subscriber backlash.
This action follows a controversial decision made on Sunday, when MTN suspended services for users due to inconsistencies between their National Identification Number and SIM registration details.
The situation escalated dramatically when a viral video emerged showing a mob attacking an MTN office in FESTAC Town, Lagos.
The video depicted the crowd vandalizing the office and damaging barricades outside the building, a reaction triggered by the network’s decision to block affected lines.
In response to the unrest, Lagos State Police Public Relations Officer Benjamin Hundeyin confirmed that order had been restored by the local police, specifically the FESTAC Division Police Officer and his team.
Today, MTN has announced a nationwide closure of all its retail outlets and service centers.
The company issued a statement to customers saying, “Dear customers, please be advised that all our shops nationwide will remain closed today, July 30, 2024.”
This move reflects the company’s effort to manage the situation and ensure safety amid ongoing disturbances.
The US Dollar and Bitcoin rise again as Trump reportedly wins the presidential election with 279 Electoral College votes against Kamala Harris’s 22. Major investors have now returned and do no longer need to be cautious.
Investors now anticipate Trump’s policies economically, Dollar has now strengthen again and is now against Euro and Pound which were gaining benefits over Dollar being weak. With Trump’s win, crypto and Bitcoin have strongly risen and are set with expectations higher prices and a boost in U.S savings returns.
The Upcoming United State Presidential has caused USD to be weak due to the investors being cautious of the outcome. Meanwhile other countries are gaining strength in their currency and benefitting from this weakness. Euro and GBP keeps rising and gaining against USD.
Gold prices still remain stables despite the recent deadline and the Australian inflation keeps rising. Markets are now watching the political movement to serve as guidance.
Security Expert, Dr. Kingsley Aguoru has advised the Central Bank of Nigerian (CBN) and Economic and Financial Crimes Commission (EFCC) to stop the use of online transactions through Card Pins as it results to a security risk.
He emphasized the risks we can be exposed to, phishing and cyber threats, he states that the use of one-time passwords can serve as an aid in this to better the security.
The expert shares that pins are only safe when in use for ATM and Pos but not online, due to cyber risks. He expressed that information can be leaked from the continuous use of sharing pins online.
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