Connect with us
SSN
Advertisement
IZIKJON
Advertisement
forex
Advertisement
Stanbic IBTC
Advertisement
Binance
Advertisement
Esetech
Advertisement
Patricia
Advertisement
Fidelity ads
Advertisement
app

Business News

Xenophobia: MTN Nigeria discloses date for resumption after office shut down

MTN Nigeria has set a new date for its staff resumption, The network provider’s centers had been attacked in Lagos, Ibadan this week.

Published

on

MTN Nigeria, MTN Nigeria Communications Plc. begins N100 billion commercial paper issuance today, MTN Nigeria Communications Plc: increase in other income, others boost revenues.

Two days after shutting the doors of its offices across Nigeria over reprisal attack from protesting Nigerians, MTN Nigeria has set a new date for resumption of work by its staff. The network provider’s centers had been attacked in Lagos, Ibadan and Uyo this week.

Although the closure of the offices didn’t affect the service of MTN Nigeria, Nairametrics learnt that management of the telecommunication company were told to resume. MTN Nigeria directed its Managers and some senior staff to resume their duties today, September 6, 2019.

MTN Nigeria had informed the public and its stakeholders of its decision to close its stores and centers across Nigeria on Wednesday, September 4, 2019, in a statement sent to the Nigerian Stock Exchange (NSE). The company said, while it remained committed to providing uninterrupted services, the safety and security of our customers, staff and partners is our primary concern. So, all MTN stores and service centers will, therefore, be closed as a precaution until further notice.

[READ ALSO: NSE lifts suspension on Royal Exchange]

But with the tension generated already going down, the management has resumed their duties, while other staff of the company are expected to resume on Monday, September 9, 2019. This means operation will fully resume next week.

Impact on MTN: Aside from MTN Nigeria’s centers being a subject of the reprisal attack, the company’s share price had dropped a day after the attack and on the day the telecom firm closed its offices. MTN Nigeria took a hit to its share price rise, declining by 1.07% on Wednesday.

Although the company had a decline in its share price at the end of trading on Monday, September 2, 2019, after its share price dropped from N141 (as of Friday, August 30, 2019) to N138.50 kobo per share, it, however, recovered on Tuesday, rising to N140 per share.

On Wednesday, it, however, fell back to what it closed with on Monday, N138.50. And on Thursday, September 5, 2019, MTN Nigeria’s share price fell again, dropping to N138.05.

Note: MTN Nigeria wasn’t the only South African linked company that was attacked in Nigeria. The likes of Shoprite and Pep were also attacked, and they also closed their stores.

[READ ALSO: Nigeria’s crude export could suffer because of ExxonMobil]

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Corporate Press Releases

Peter Obaseki retires as Chief Operating Officer of FCMB Group Plc

Mr Peter Obaseki, the Chief Operating Officer of FCMB Group has retired from the financial institution.

Published

on

The Board of Directors of FCMB Group Plc has announced the retirement of Mr. Peter Obaseki, the Chief Operating Officer of the financial institution, with effect from March 1, 2021. He was also an Executive Director of the Group.

His retirement was approved at a meeting of the Board of the Group on February 26, 2021. This has also been announced in a statement to the Nigerian Stock Exchange (NSE) by the financial institution.

The Chairman of FCMB Group Plc’s Board of Directors, Mr Oladipupo Jadesimi, thanked Mr. Obaseki for his valuable service and excellent support to the Board for many years.

FCMB Group Plc is a holding company divided along three business Groups; Commercial and Retail Banking (First City Monument Bank Limited, Credit Direct Limited, FCMB (UK) Limited and FCMB Microfinance Bank Limited); Investment Banking (FCMB Capital Markets Limited and CSL Stockbrokers Limited); as well as Asset & Wealth Management (FCMB Pensions Limited, FCMB Asset Management Limited and FCMB Trustees Limited).

The Group and its subsidiaries are leaders in their respective segments with strong fundamentals.

For more information about FCMB Group Plc, please visit www.fcmbgroup.com.

Continue Reading

Tech News

Deezer accepts payment in Naira amid stiff competitions with Spotify, Youtube music, Apple music.

Deezer has gained quite a reputation in Nigeria, as it slashes its subscription fee and now accepts payment in Naira.

Published

on

Deezer slashes subscription fee and now accepts payment in Naira amid stiff competitions with Spotify, Youtube music, Apple music.

Deezer, the French music streaming platform that has gained quite a reputation in Nigeria has slashed its subscription fee and now accepts payment in Naira.

This is coming a few weeks after Spotify launched in Nigeria and 38 other new markets in Africa.

The competition in the Nigerian music streaming space is getting hotter by the day. More music streaming platforms are entering the Nigerian market with better payment methods and cheaper pricing, thereby forcing existing players to slash their prices so as to hold on to their customer base

Launched in 2007, Deezer currently connects over 16 million monthly active users around the world to 73 million tracks.

Before now, Deezer’s subscription was rated at $4.99 (₦1,800) for premium customers and the family plan for ₦2,700.

This number has been slashed in half. The music platform now charges ₦900 ($2.36) for Deezer Premium, ₦1,400 for Deezer HiFi and ₦1,400 ($3.67) for Deezer Family Plan.

Other streaming players in Nigeria like Apple Music, Spotify, Youtube music, Boom Play, Audiomack and Soundcloud have also slashed their prices.

For YouTube Music, the monthly individual subscription costs ₦900 while a family plan costs ₦1400 ($3.67).

Spotify Premium cost ₦900 per month in Nigeria. The Premium Family plan goes for ₦1,400 for up to 6 family members.

Apple music charges ₦450 per month for students, ₦900 per month for Individual plan while the Family plan goes for ₦1,400 for up to 6 family members.

Continue Reading



Advertisement





Nairametrics | Company Earnings