MTN Nigeria has taken legal action against more than 20 banks to recover about N6 billion owed by SleekChip Technologies Limited, a licensed international Direct Access and National Transit service provider. This follows a Federal High Court judgment in Abuja delivered in November 2024 by Justice Peter Lifu, which ordered SleekChip to pay MTN $1,971,409.85 (approximately N3.28 billion at the prevailing Central Bank rate at the time), plus interest at 2% above the Nigerian Interbank Offer Rate from January 31, 2022, until full repayment. The dispute arose from a network interconnect agreement signed on July 23, 2019, allowing MTN and SleekChip to exchange voice calls and messages for agreed fees, known as interconnect charges. MTN alleged that SleekChip accumulated the debt between January and October 2022 by using MTN’s network but failed to settle the charges despite multiple demand notices. SleekChip acknowledged the debt in a letter dated May 30, 2023, promising to pay by July 20, 2023, but did not fulfill this commitment. MTN’s legal team emphasized that SleekChip never disputed the debt within the 60-day window allowed by their agreement to challenge invoices. Following the court ruling, MTN commenced garnishee proceedings to freeze and recover the judgment sum from SleekChip’s accounts held across various banks. During a court session on May 16, 2025, MTN’s lawyers presented affidavits from most banks confirming SleekChip’s funds, while some banks were discharged after confirming no accounts existed for the company. The case has been adjourned to June 26, 2025, for further hearing. The Nigerian Communications Commission has previously authorized disconnections of operators failing to settle such debts, highlighting the sector’s ongoing challenges with interconnect billing disputes.
Univasa and Kalabash54 launch travel eSIM to simplify connectivity for international travelers
Univasa, a licensed mobility and connectivity solutions provider, has partnered with Kalabash54, the fintech arm of the Wakanow Group, to introduce a Travel Data eSIM product aimed at international travelers. The new service, now available on Wakanow.com, enables users to purchase and activate mobile data plans seamlessly during the flight booking process. This innovation eliminates the need for travelers to swap physical SIM cards or deal with costly roaming charges abroad. According to Ben Adeniyi, CEO of Univasa, the partnership offers “high-quality, affordable Travel Data services in over 190 countries, all without swapping SIM cards. It’s seamless, secure, and exactly what modern travel requires.” Kalabash54 CEO Ladi Ojuri emphasized the broader vision behind the initiative: “We’re building the future of travel services where payments, connectivity, and convenience all converge. This partnership solves a real problem many travelers face, staying connected easily once they arrive at their destination.” The Travel Data eSIM is integrated directly into Wakanow’s booking flow, allowing customers to add mobile data plans alongside flight reservations. This approach removes the friction of sourcing local SIM cards and ensures reliable connectivity from the moment travelers land. “This partnership combines the right technology and distribution synergy to scale this service while delivering on our promise of innovation and mobility,” Adeniyi added. Backed by Univasa’s global infrastructure and real-time activation technology, the service promises consistent performance across supported destinations. The collaboration further strengthens Wakanow Group’s digital ecosystem, offering a one-stop platform for flights, accommodation, payments, and connectivity.
Nigeria builds digital bridges to expand MSMEs across African markets
Nigeria is taking bold steps to propel its Micro, Small, and Medium Enterprises (MSMEs) beyond national borders into the wider African market through digital innovation. Vice President Kashim Shettima announced this initiative during the inauguration of the oversight committee for the 4th African Union MSME Forum, set to take place in Abuja from June 23 to 27. Shettima highlighted that the Tinubu administration has prioritized constructing digital highways and bridges to facilitate seamless cross-border trade for MSMEs. This effort aligns with Nigeria’s leadership in the African Continental Free Trade Area (AfCFTA), where the country has harmonized investment, digital trade, and competition policies to support entrepreneurs. To support this vision, Nigeria has established a Technology Export and Digital Trade Desk aimed at helping local businesses export services and digital goods across Africa. Key programs driving this transformation include the $617.7 million i-DICE Programme, which invests in digital and creative enterprises, and the 3 Million Tech Talent Programme, designed to train Nigerian youths in coding, data science, and digital skills. “The continent is rich in ideas and digital innovation, with over 83 percent of employment in Africa rooted in the informal economy,” Shettima said. “Our government is committed to shaping Africa’s digital trade future by making cross-border commerce secure, scalable, and seamless.” The upcoming AU MSME Forum will bring together nearly 6,000 SMEs from across Africa and 145 global partners to foster collaboration, knowledge exchange, and new business opportunities. The event will culminate with the National SME Awards, celebrating outstanding contributions to the sector. Senator Ibrahim Hadejia, chairman of the organizing committee, described the forum as a vital platform for advancing MSME development continent-wide. Meanwhile, Temitola Adekunle-Johnson, Special Adviser on Job Creation and MSMEs, assured that the event will showcase Nigeria’s commitment to economic renewal through MSME empowerment.
NCC initiates review of 22-year-old communications Act to address modern tech challenges
The Nigerian Communications Commission (NCC) has launched a comprehensive review of the Nigerian Communications Act (NCA) of 2003 to modernize Nigeria’s telecommunications regulatory framework. This aims to address the rapid technological advancements that have transformed the digital landscape since the law was enacted over two decades ago. During a stakeholder colloquium held on Tuesday, April 29, 2025, in Lagos, NCC’s Executive Vice Chairman, Dr. Aminu Maida, emphasized that the 21-year-old legislation no longer aligns with the demands of today’s innovation-driven environment. He highlighted the need to adapt the regulatory framework to accommodate transformative technologies such as artificial intelligence (AI), 5G networks, Internet of Things (IoT), quantum computing, and blockchain, which are reshaping the global communications sector. “The reality of 2025 demands we reimagine Nigeria’s digital future,” Dr. Maida stated, advocating for a proactive rather than reactive regulatory approach. He envisioned “a revised Nigerian Communications Act that not only addresses today’s challenges but anticipates tomorrow’s opportunities-a framework that positions Nigeria as a leader in the global digital economy”. The NCC has identified several critical gaps in the current legislation that need addressing: Emerging Technologies: The original Act was written when technologies like 5G, AI, blockchain, and IoT were either in their infancy or nonexistent. The revision aims to include regulatory sandboxes, innovation hubs, and adaptive licensing frameworks that allow for innovation while maintaining appropriate oversight. Convergence of Sectors: The growing overlap between telecommunications, broadcasting, and information technology has created regulatory challenges. The revised Act is expected to be technology-neutral and facilitate better coordination with other regulatory bodies like the Nigeria Broadcasting Corporation (NBC) and National Information Technology Development Agency (NITDA). Cybersecurity and Data Protection: With the rise of digital platforms has come an increase in cyber threats. The NCC aims to strengthen these areas by harmonizing the NCA with other relevant laws, such as the Cybercrimes Act and the Nigerian Data Protection Act. Infrastructure Challenges: Dr. Maida identified persistent infrastructure and regulatory issues that must be addressed, including unreliable power supply, high costs of right-of-way (RoW), rising operating expenses, and limited broadband availability in rural areas. Consumer Protection: The revised Act aims to increase penalties for non-compliance, establish more accessible grievance channels, and enforce regular publication of service quality metrics to hold operators accountable. Despite its limitations, the NCC acknowledged the significant contributions of the original 2003 Act, which liberalized Nigeria’s telecommunications sector, dismantled the monopoly of the Nigerian Telecommunications Limited (NITEL), and established the NCC as an independent regulator. These reforms led to exponential growth in mobile subscriptions-from under 300,000 in 2001 to over 150 million today-along with increased internet penetration and the development of a digital economy that now contributes approximately 14% to Nigeria’s GDP. The telecommunications sector has fostered innovations such as mobile banking, e-commerce, and e-learning, which have transformed the lives of millions of Nigerians. However, the digital economy has evolved dramatically over the past two decades, and the law has struggled to keep pace with these changes.
MTN Nigeria Shares Surge as Investors Bet on Profit Comeback
MTN Nigeria, the country’s largest telecom operator, sees a dramatic surge in share trading and price gains. This renewed interest comes ahead of the company’s Q1 2025 financial results, set to be published on April 29, with many betting that MTN will finally return to profitability after two tough years. MTN’s stock has been on a tear since the start of the year. As of April 25, the share price climbed to ₦255.50, up 27.8% year-to-date, and recorded a 4.3% jump in a single day. Trading volumes have also soared, with over 11 million shares changing hands on April 15-the highest single-day volume for MTN on the Nigerian Exchange this year. Analysts point to a recent 50% hike in call and data tariffs, approved by the government, as a major driver behind the bullish sentiment. The price increase is expected to strengthen MTN’s margins and start reflecting in its earnings from this quarter. “If MTN’s Q1 numbers show a profit, it would be their first profitable first quarter since the naira’s steep devaluation in 2023,” said one market analyst. The devaluation, coupled with record inflation, had wiped out earnings and led to heavy losses in 2023 and 2024, despite strong demand for data and digital services. MTN’s performance is closely watched as a barometer for Nigeria’s digital economy. With over 50% market share, the company connects tens of millions of Nigerians to essential voice, data, and digital services, and its stock performance influences investor sentiment across the entire telecom sector. The company has also rebranded its home broadband service to FibreX, signaling a renewed push for growth in the home internet market. MTN is preparing a second public share offering, aiming to boost local ownership from 24% to 35% and further restore investor confidence. The company’s management is optimistic, citing recent economic reforms and improved dollar availability as reasons to expect a “V-shaped” recovery in Nigeria’s telecom sector. However, challenges remain. Inflation is still high, and many Nigerians are grappling with reduced spending power. But for now, investors appear confident that MTN Nigeria is on the cusp of a major turnaround, with its Q1 results likely to set the tone for the rest of the year. MTN Nigeria’s Q1 2025 financial results will be released on April 29, one day before its annual general meeting.
MTN confirms cyberattack as customer data exposed in select markets
Africa’s largest telecom operator, MTN Group, has reported a cybersecurity breach resulting in unauthorized access to personal data of customers in select markets. The company confirmed that its core network, billing systems, and financial infrastructure remain secure and fully operational, with no evidence of compromised accounts or digital wallets. The breach, attributed to an unidentified third party, targeted parts of MTN’s systems but did not affect its Nigerian operations, according to sources. MTN swiftly activated its cybersecurity protocols, notifying law enforcement agencies including South Africa’s SAPS and the Hawks, and began alerting impacted customers in compliance with local regulations. Customers are urged to update apps, use strong passwords, enable multifactor authentication, and avoid suspicious links. The incident underscores rising cyber threats faced by global telecom providers, following similar attacks on operators like South Korea’s SK Telecom.