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Economy

MTN Nigeria’s Revenue Surges By 35.6% In March After Tariff Adjustments

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MTN Nigeria

MTN Nigeria’s Revenue Surges By 35.6% In March After Tariff Adjustments

MTN Nigeria’s revenue surges by 35.6% in March after tariff adjustments. MTN Nigeria’s service revenue surged by 35.6% in March following tariff adjustments implemented in February.

A report by its group office in South Africa on Monday, also said expectations for further growth in 2025 are expected from the country following the tariff adjustments.

This is as the MTN Group reported a 69% slump in full-year earnings, due to devaluation of the Nigerian naira and operational challenges in Sudan.

It reported headline earnings per share (HEPS) – one of the main profit measures in the country – fell to 98 cents in the year to December 31, down from 315 cents in 2023.

“Despite challenges including currency depreciation in Nigeria, elevated inflation, and ongoing conflict in Sudan,” MTN Group’s President & Chief Executive Officer, Ralph Mupita expressed optimism about the future.

He noted signs of easing inflation, reduced forex volatility—particularly for the naira—and the positive impact of tariff adjustments in Nigeria. “In Nigeria, we renegotiated tower lease contracts, which allow MTN Nigeria to better manage adverse macroeconomic impacts on the business.

MTN Nigeria

MTN Nigeria

“MTN Group is well positioned to capture the exciting opportunities in our markets and deliver on our medium-term objectives to sustain growth, create shared value in nation-states and communities, and unlock value for our stakeholders,” Mupita stated.

Nigeria has suffered chronic dollar shortages that have forced authorities to devalue the naira as part of the government’s measures to stabilise the currency and attract investment.

Coupled with high inflation and interest rates, this has driven up costs and widened MTN Nigeria’s pretax loss by more than 200% to 550.3 billion naira ($355.76 million).

Crime

EFCC Arraigned Woman In Borno Over Alleged N6.8m Romance Scam

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EFCC Arraigned Woman

EFCC Arraigned Woman In Borno Over Alleged N6.8m Romance Scam

EFCC arraigned woman in Borno over alleged N6.8m romance scam. The Economic and Financial Crimes Commission (EFCC) has arraigned Catherine Ijeoma Ugwu before Justice Aisha Kumaliya of the Borno State High Court, Maiduguri, over allegations of a N6.8 million fraud.

Ugwu was charged on Monday, March 17, 2025, in connection with a romance scam in which she allegedly deceived a victim, Emmanuel Ani, by posing as his fiancée, “Miss Chinansa.”

The EFCC filed a four-count charge against her, including obtaining by false pretence, criminal misappropriation, and impersonation.

According to the anti-graft agency, between June 2023 and August 2024, Ugwu fraudulently obtained N6,710,300 from Ani under the guise of supporting his supposed fiancée.

Upon hearing the charges, Ugwu pleaded not guilty.

Court Remands Ugwu, Trial Set for April 8

EFCC Arraigned Woman

EFCC Arraigned Woman

Following her plea, prosecution counsel S.O. Saka and Faruku Muhammad urged the court to set a trial date and remand the defendant in a correctional facility. Justice Kumaliya granted the request, adjourning the trial until April 8, 2025.

The EFCC disclosed that Ugwu failed to return or account for the money when confronted by the petitioner.

The commission reiterated its commitment to tackling financial crimes, particularly scams involving deception and impersonation.

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Crime

Government Directs Verification Of March Salaries Before Payment In Kano

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Kano State

Government Directs Verification Of March Salaries Before Payment In Kano

Government directs verification of March salaries before payment in Kano. The Kano State Government has mandated civil servants to verify their March salaries before disbursement.

Secretary to the State Government (SSG), Alhaji Faruk Umar Ibrahim, announced the directive on Monday, citing concerns over deductions and irregularities in January and February salaries.

“To ensure transparency and fairness, all civil servants must confirm their salary details through their respective Ministries, Departments, and Agencies (MDAs) and report any discrepancies,” Ibrahim stated.

Salary lists will be displayed at key locations within MDAs and all 44 local government secretariats to facilitate the process.

A committee, led by Head of Service Alhaji Abdullahi Musa, has been set up to oversee the verification and expedite payments.

Kano State

Kano State

Acknowledging the approaching Eid-el-Fitr celebration, Ibrahim assured workers that efforts were underway to ensure timely salary payments.

He also emphasized that the exercise would not disrupt government operations.

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Economy

PUMA Replaces Nike as Premier League’s Official Ball Supplier In 2025/26 Season

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PUMA Replaces Nike as Premier League’s Official Ball Supplier In 2025/26 Season

PUMA replaces Nike as premier league’s official ball supplier in 2025/26 season. Global sportswear brand PUMA has secured a major deal with the Premier League, becoming its Official Ball Supplier starting from the 2025/26 season.

Announced on Monday, this partnership sees PUMA take over from Nike, which has supplied match balls for the league for over two decades.

The agreement will not only place PUMA’s ball at the heart of every Premier League match but also involve collaborations on grassroots programs, high-profile marketing campaigns, and events like the Premier League Summer Series in the U.S.

PUMA CEO Arne Freundt described the deal as a significant step in the company’s efforts to elevate its brand in elite football.

“With PUMA’s ball at the center of attention during every match, we will create unforgettable moments for players and fans alike,” he said.

Premier League Chief Executive Richard Masters welcomed the partnership, emphasizing PUMA’s strong history in football and its alignment with the league’s values.

PUMA Replaces Nike

PUMA Replaces Nike

 

 

 

 

 

“We are delighted to welcome PUMA as the Official Ball Supplier of the Premier League. Their global reach and commitment to excellence will help inspire fans worldwide,” Masters stated.

With this landmark deal, PUMA expands its influence in top-tier football, strengthening its presence in the world’s most-watched league.

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