Africa Business News

MTN Nigeria, the country’s largest operator, has claimed back ₦32 billion from banks, a partial recovery of the ₦74 billion owed in USSD service charges. In December 2024, the regulators, the Central Bank of Nigeria and the Nigerian Communications Commission, ordered banks to pay 85% of their ₦250 billion debt to telcos before year-end or face fines and service restrictions. The crackdown forced banks to act, but not quickly enough for MTN, which still classifies the unpaid sum as “receivables” pending settlement in 2025. MTN Nigeria, in 2024, reported an after-tax loss of ₦400.44 billion; the sharp decline stems from the naira’s depreciation, soaring tower lease costs, and mounting foreign currency obligations. Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.