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.
MTN has moved closer to acquiring IHS Holding, following shareholder approval of the proposed takeover, marking another major milestone in the transaction.
The approval was secured during the Extraordinary General Meeting (EGM) held on 4 August, allowing the deal to progress to the next stage.
If completed, the acquisition is expected to strengthen MTN’s infrastructure capabilities by giving the company greater control over its telecommunications tower assets. Industry analysts believe the move could improve network efficiency, reduce long-term operating costs, and support MTN’s continued expansion across its markets.
The transaction is still subject to regulatory approvals and other closing conditions before it can be officially completed.
Nigeria’s three biggest cement manufacturers—Dangote Cement, BUA Cement, and HBM Nigeria—generated a combined ₦3.2 trillion in revenue during the first half of 2026.
The strong performance was driven by higher cement prices, increased demand from housing and infrastructure projects, and higher sales volumes across the country.
Compared to the same period in 2025, the companies recorded 26.5% revenue growth, showing that Nigeria’s construction sector continues to expand despite economic challenges. The companies also reported stronger profits and are investing further to increase production capacity to meet future demands.
Nigerian fintech company OPay has introduced new security features to improve the safety of its application.
The company unveiled the Emergency Lock and Safety PIN features to give customers better control over their funds and provide added protection against fraud and unauthorized transactions.
The Emergency Lock feature allows customers to instantly freeze their OPay account with a single tap whenever they sense a threat or believe their account may be at risk.
The newly launched Safety PIN introduces an additional layer of security, helping customers protect themselves in situations where they may be forced to make a transfer or payment against their will.
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