Business

MTN Rakes In N421bn From Calls, Data In Three Months

Published

4 years ago

May 2, 2022

Communication giant, MTN Nigeria Communications PLC has raked in the sum of N421.49billion from calls and data in the first quarter of 2022.
This is a 20.32 per cent increase from N350.31billion that the telecoms company made from voice and data in the corresponding period of 2021. In its Q1, 2021 announcement, MTN revealed that it made N470.98billion in total revenue in 2022.
According to the firm, its subscribers declined by 1.3 million to 70.2 million year-on-year because of regulatory restrictions on new SIM sales and activations. It added that its active data users increased to 35.9 million y-o-y, while its fintech subscribers rose to 10.7 million.
MTN Nigeria Chief Executive Officer, Karl Toriola, while speaking on the results, said, “We continued to make good progress in the first quarter, building on the momentum we achieved in Q4 2021 and delivering several key milestones as we grow our connectivity business and platforms.
“This was achieved against a backdrop of significant geopolitical volatility exacerbated by the war in Ukraine. This conflict has significantly impacted energy prices, broader inflation, supply chains, and consumer spending.”
According to him, the number of retail investors in MTN was 139,000 after 126,720 investors became shareholders in the company’s first phase of a series of transactions to increase local ownership.
He added that the final approval for its MoMo Payment Service Bank by the Central Bank of Nigeria would enable the firm to offer financial services and drive financial inclusion in the nation.
Toriola stated that the firm now had 166,000 active MoMo agents. He said, “Although our mobile subscriber base declined by 1.9 per cent YoY from 71.5 million in March 2021 to 70.2 million, we sustained the growth trajectory from Q4 2021 as we ramp up capacity for SIM registration and NIN enrolment.
“As a result, we added 1.7 million subscribers in Q1 2022. In addition, active data subscribers rose by 10.5 per cent YoY to 35.9 million, with 1.6 million added in Q1 as we continued to drive data conversion from our new and existing subscriber base.
“To enable the growth in subscribers and traffic, we continued to enhance the capacity of our network. In doing so, we frontloaded our capex plan for the year, deploying capex of N162.5bn in the period to accommodate the sustained demand for data and accelerate the rollout of our 4G network, which now covers approximately 72 per cent of the population and accounts for 76 per cent of data traffic.”
He added that about 60 million MTN subscribers had submitted their NINs.
Meanwhile, the firm had approved a dividend payment of N174.53bn, translating to N8.57 kobo per every 2 kobo ordinary share to its shareholders.

Transport

Automated Points Concession : FAAN Workers Gave 72hrs To Revise Decisions In PH

Published

11 hours ago

March 2, 2026

The Tide

The trapatriate Unions conprising the National Union of Air Transport Employees (NUATE), and the Air Transport Service Senior Staff Association of Nigeria, (ATSSSAN), has given 72 hours Ultimatum to Federal Airport Authority of Nigeria FAAN, Omagwa Airport, Portharcourt to revise its recent decision on the concession of Tollgates and Parks to private hands.

The chairman of the Trapatriate Union, Comrade Felix Ohwoefe gave the Ultimatum yesterday immediately after the joint Unions meeting held at the Airport office of the union, Omagwa, Portharcourt.

Comrade Ohwoefe who double as the chairman of the National Union of NUATE said the two Unions have agreed to take drastic actions if the Authority of the Airport declined to step down it’s decision of concessioning the major revenue points to private hands.

According to the Union chairman, the two union was not aware of the concession plans, and that there were no due process to the procedures.

Comrade Ohwoefe said any attempt for the Airport Management to decline it’s demands towards the concession will result to barricading all entrance and access points of the Airport.

Expressing the the challenges associated to the concession, the Union Chairman said the gesture might resulted to massive sack of workers in the Airport.

The chairman also expressed foul play on the part of either individuals or government in the terms and conditions so given to the concessionaires, demanding the reasons of contracting the automated points to private hands for only 14 millions, when the FAAN is presently generating over 28 million naira monthly, even when the tariff was not reviewed upwards.

He describes the process to the procedures as fraud with intention to increase unemployment in the state.

“We are not against the concession of the Automated points, but due process must be followed. If government is concessioning the place, we are asking what will happen to our workers in the existing units.

“Secondly, if the concessionaires is taken over, they must pay higher than what the FAAN is generating presently, we are generating to the Management over 28 Millions monthly, but we had that the private company is required to pay only 14 Millions monthly, which is far below 5 percents of what we are generating presently, even when the tariff is increased, which means there is a foul play.

“The process is fraud either on the part of individual in the Government, or Government itself.

” The unions is saying no to the Concession until we come to a terms of understanding ourselves., we are afraid of loosing workers, we don’t want to loose any workers if due process is not followed in this hard of economy, we even demanding for employment of more workers in FAAN.” Comrade Ohwoefe said.

The Union used the opportunity to called on the minister of aviation, and the President of the Country, Bola Tinubu to intervene.

When contacting the Management of the Airport Authority through the head of Corporate Affairs, Dr Ngozi V. Onyeanwuna-Nwosu, she said the management has not given her the approval to say something.

Transport

FAAN Announces Pick-Up Points for Go-Cashless Cards

Published

11 hours ago

March 2, 2026

The Tide

The Federal Airports Authority of Nigeria (FAAN) has announced designated pick-up points for individuals wishing to obtain their Go-Cashless cards ahead of the March 1, 2026 deadline.

This was announced in a statement signed by the Director Public Affairs and Consumer protection, Henry Agbebire and made available to the Tide last Friday in Portharcourt.

According to the statement, Go-Cashless cards is at all FAAN commercial offices and access gates of Airports in the country .

The release further stated that cards will also be available at designated branches of Fidelity Bank Plc from March 16, 2026.

FAAN in the statement said the cashless policy followed the Federal Government directive mandating all Ministries, Departments and Agencies (MDAs) to transition to a cashless system to enhance transparency and reduce revenue leakages as well improve transaction traceability in the Aviation sector.

FAAN reiterated its commitment to full compliance with the directive, appealing to the public for their understanding and cooperation during the transition period.

FAAN also inform that the Go-Cashless cards can still be obtained at the designated points after the March 1, deadline.

The Authority assures airport users that the initiative will promote faster, safer, and more convenient transactions across its airports nationwide.

By: Enoch Epelle

Business

Fidelity Bank To Empower Women With Sustainable Entrepreneurship Skills, HAP2.0

Published

4 days ago

February 27, 2026

The Tide

Leading financial institution, Fidelity Bank Plc, has announced the launch of the second edition of its flagship women-empowerment initiative, the HerFidelity Apprenticeship Programme 2.0 (HAP 2.0).

According to the report, the programme is designed to equip women with practical, income?generating skills and structured pathways to entrepreneurship.

Accordingly, the HAP 2.0 will build on the success of its inaugural edition held in 2023.

During media chat with journalists to herald the launch of HAP 2.0, the Divisional Head, Product Development, Fidelity Bank Plc, Osita Ede, explained that the initiative has been enhanced to deliver greater impact.

He said HerFidelity Apprenticeship Programme 2.0 reflects their commitment to continuous improvement, having evaluated feedback from the first edition, they have returned with stronger partnerships and deeper mentorship programmes to ensure that women acquire not just skills, but sustainable economic opportunities.

Mr Ede, who said the programme is guided with real?world learning, also said that participants will undergo intensive apprenticeship training under reputable institutions and industry experts across selected fields such as hair styling, shoe making, auto mechatronics, and interior decoration.

Additionally, he said HerFidelity Apprenticeship Programme 2.0 goes beyond skills acquisition by offering participants a wide range of business advisory services.

These include business and financial literacy training, mentorship support throughout the apprenticeship journey, access to Fidelity Bank’s women?focused and SME financial solutions, as well as guidance on business formalisation and growth strategies.

Emphasizing the bank’s vision further, Ede said: “By integrating structured mentorship with entrepreneurial development, Fidelity Bank is positioning women not just as trainees, but as future employers, innovators, and economic contributors within their communities.

This aligns with our mandate to help individuals grow, businesses thrive, and economies prosper”.

It is noteworthy that interested participants are encouraged to indicate their interest by visiting https://bit.ly/Apprenticeshipbyherfidelity.

It is important to note that Fidelity Bank Plc is ranked among the best banks in Nigeria, with a full-fledged Commercial Deposit Money Bank serving over 10 million customers through digital banking channels, with 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

It is reported that the Bank is a recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards, the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.

By: Nkpemenyie mcdominic, Lagos