The management of MTN Nigeria Communications Plc has disclosed that the company’s Chief Executive Officer, Karl Toriola, purchased additional 679,370 ordinary shares of MTN Nigeria in twelve different transactions on the same day.
MTN Nigeria disclosed in a statement signed by Uto Ukpanan, Company Secretary.
Toriola purchased the shares in the following order:
1,000 Ordinary Shares at N158.80 per share
55,000 Ordinary Shares at N158.80 per share
44,000 Ordinary Shares at N158.80 per share
11,000 Ordinary Shares at N158.80 per share
47,504 Ordinary Shores at N158.80 per share
15 Ordinary Shares at N158.80 per share
400 Ordinary Shares at N158.80 per share
100,000 Ordinary Shores at N160.00 per share
41,081 Ordinary Shares at N160 00 per share
79,370 Ordinary Shares atN160 per share
100,000 Ordinary Shares at N160 00 per share
200,000 Ordinary Shares at N160.00 per share
According to MTN Nigeria, the transaction took place on March 24, 2021 at the Nigerian Stock Exchange in Lagos.
Therefore, the CEO purchased a total of 679,370 shares at an average price of N159.30 per share or N108.224 million.
FG Lifts Ban on New SIM Cards’ Issuance
The federal government yesterday reversed its policy banning the sale of new Subscriber Identification Module (SIM) cards.
The Minister of Communications and Digital Economy, Dr. Isa Pantami, in agreement with industry stakeholders, also yesterday revised the National Digital Identity Policy for SIM card registration.
According to him, the activation of new SIM card, banned in December last year, will begin in April.
Pantami directed the Nigerian Communications Commission (NCC) and National Identity Management Commission (NIMC) to ensure the provisions of the National Digital Identity Policy for SIM card registration are strictly followed by all operators and subscribers.
He said the implementation of the policy and issuance of new SIMs and other suspended activities would resume on the same date, provided that verification had been completed and the guidelines fully adhered to.
According to a statement by the Technical Assistant (Information Technology) to the Minister, Dr. Femi Adeluyi, an earlier policy was approved on February 4, 2020, while the revised policy was developed in early March 2021. The policy was further improved and endorsed for implementation by President Muhammadu Buhari on March 26, 2021.
According to the statement, the final amendments to the revised policy, based on the directives of Buhari to make the use of the National Identification Number (NIN) mandatory for all SIM registration, were completed on April 14, 2021.
The policy includes guidelines on new SIM acquisition and activation, SIM replacement, new SIM activation for corporates and Internet-of-Things/Machine-to-Machine (IoT/M2M), among others.
The statement said: “For the corporate registration, institutions will be required to appoint a telecoms master (at the minimum of an executive management level) to provide the operational primary NIN representation. The telecoms master will also be responsible to ensure that the users provide their NINs to serve as a secondary NIN.
“For IoT/M2M activations, SIM security protocols would be implemented on the SIM profile to ensure that SIMs can only be used for point-to-point data services specific to the URL they are working with. All other services will be barred.”
Pantami stated that progress had been made in the NIN registration process.
“Nonetheless, the federal government is committed to supporting all Nigerians and legal residents to obtain a NIN. The biometric verification process has been slower than anticipated, owing largely to the non-adherence of many previous SIM biometric capture processes to the NIMC standards.
“The revised policy will ensure that operators conform to the required standards for biometric capture. The guidelines in the policy have been painstakingly developed and while they are thorough, it should be noted that they have been developed that way in national interest since the SIM is essentially a national resource. Citizens and legal residents are encouraged to bear with the government as the process has been developed in the best interest of the country,” the statement added.
MTN Partners Fintechs as Talks With Banks Lingers
MTN has activated a number of new channel partnerships with fintech companies as the company continues meeting with the commercial banks on a new pricing structure agreement.
MTN’s initial meeting for the reduction of the charges held on Tuesday with the banks ended in a deadlock and is expected to continue until a new long-term agreement can be reached on a sustainable pricing structure going forward.
The telco said this in a statement on Thursday titled ‘Update on banking channel partners’ dispute and expansion of channel network’.
MTN customers were reconnected to banking channels after the banks blocked them on April 2.
This was agreed on the basis that MTN would revert to its previous cost of sales structures with banking partners, until a new long-term agreement could be reached on a sustainable pricing structure going forward.
The telecom company noted that it had been participating in a series of meetings with the banks since Tuesday, after the intervention of the Minister of Communications and Digital Economy, the Nigerian Communication Commission and the Central Bank of Nigeria.
According to the telco, the reduction in the banks’ commission on USSD airtime is ‘international standard and best practice as scale is built along distribution channels’.
“We will provide a further market update once these discussions have been concluded.
We are confident that partners in the banking sector will work with us to ensure this process concludes as quickly as possible to the benefit of the entire industry,” MTN said.
It said it had partnered with new fintechs to expand the range of channels available to customers, adding that the partnerships would remain in place.
“The new channel partners include Sparkle, Konga Pay, Barter By Flutter Wave, Jumia Pay, OPay, Kuda, Carbon, BillsnPay, MTN On Demand, MTN Xtratime airtime loans (*606#), myMTN Web http://mymtn.com.ng and Momo agent *223#,” the statement said.
The telco expressed optimism for a mutually acceptable solution that empowered all ecosystem participants.
MTN Nigeria Completes Issuance of Series III, Series IV Commercial Papers
MTN Nigeria Communications Plc announced it has completed the issuance of Series III and Series IV Commercial Papers under its N200 billion commercial paper programme.
According to the telecommunications giant, the proceeds from the Series III and IV CP Issuance will be used to finance working capital and general corporate purposes.
“The CP Issuances were undertaken in line with the Company’s strategy to diversify its financing sources. In November 2020, MTN Nigeria obtained the approval of Financial Markets Dealers Quotations (FMDQ) Securities Exchange Plc to increase the Company’s CP programme from N100,000,000,000 to N200,000,000,000; following the very successful inaugura Series I and Series II CP Issuances in June 2020. The Company confirms that the Series I and Series II CP Issuances – of an aggregate value of N100,000,000,000 – have been redeemed,” MTN Nigeria stated in a statement signed by Uto Ukpanah, Company Secretary, MTN Nigeria.
“The book build for the Series III and Series IV CP Issuances opened on Thursday, 11th March 2021 and closed on Friday, 19th March 2021. The Series III CP cleared at a discount rate of 6.7652 percent and raised N19,765,447,000; and the Series IV cleared at a discount rate of 7.5547 percent and raised N53,742,807,000. The aggregate CP Issuance is N73,508,254,000 across both tenors.”
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