Telecom
MTN Nigeria Releases 2023 Sustainability Report, Reiterates Commitment to Shared Value
MTN Nigeria, leading ICT Company, announced the release of its 2023 Sustainability Report. The report showcases MTN Nigeria’s unwavering dedication to sustainable development, emphasizing the company’s strategic initiatives, achievements, and commitment to creating shared value for all stakeholders through responsible and innovative business practices.
This report also marks a significant milestone as MTN Nigeria becomes a pioneer company in Nigeria to early adopt the International Financial Reporting Standards S1 and S2 issued by the International Sustainability Standards Board (ISSB).
The ISSB is an independent, nonprofit organisation established by the International Financial Reporting Standards (IFRS) Foundation to develop and maintain a comprehensive global framework for sustainability-related disclosures.
By providing a unified global approach to sustainability reporting, the ISSB’s standards offer investors and other stakeholders consistent, comparable, and decision-useful information on a company’s sustainability performance.
The report highlights MTN’s commitment to creating shared value for all stakeholders, aligning with its strategy to drive digital solutions for Africa’s progress. “We’re proud of the progress we’ve made so far – expanding connectivity to 79.7 million people, achieving 92.9% nationwide coverage, investing N2.6 billion in Corporate Social Investment programmes that have impacted over 58,000 live through the MTN Foundation, contributing N549.3 billion in taxes and levies to the government, and investing over N571.0 billion in capex, up 13.2% in 2023.
However, we recognise that this is only the beginning. We remain steadfast in our pursuit of excellence and committed to continuously improving our sustainability practices while striving for an even greater impact in the communities we serve. Our goal is to set the benchmark for responsible business practices in Nigeria, and we will continue to ensure our operations positively impact the environment, society, and governance,” said Karl Toriola, Chief Executive Officer, MTN Nigeria.
Also commenting on the report, Tobe Okigbo, Chief Corporate Services and Sustainability Officer, MTN Nigeria, explained the ICT’s company commitment to ESG. “We have embedded sustainability and ESG considerations at the core of our governance structure, recognising their critical role in driving long-term value creation for our stakeholders.
“Our commitment to sustainability is reflected in our actions, from establishing a dedicated Sustainability and Shared Value function to adopting the IFRS Sustainability Reporting Standards.
“We are pleased with our progress so far, including achieving a reputation index score of 84, up 3.0pp from 2022 and achieving a 10.3% reduction in Scope 1 and 2 emissions from the 2021 baseline as part of the Project Zero initiative, progressing towards net zero emissions by 2040”.
MTN Nigeria continues to push boundaries and set new standards, contributing to a better future for Nigeria and Africa as a whole.
MTN Nigeria Communications PLC has announced that the Nigerian Communications Commission (NCC) has approved the renewal of the spectrum lease agreement between MTN Nigeria and Natcom Development and Investment Limited (NTEL).
Uto Ukpanah, Company Secretary in a statement released recently said that the agreement covers the lease of NTEL’s 5MHz frequency division duplex (FDD) in the 900MHz spectrum band and 10MHz FDD in the 1800MHz spectrum band, which spans 19 states.
The renewal is for another two-year period, effective 1 May 2025. Additionally, the NCC has approved a one-year lease expansion of the spectrums, covering the remaining 17 states and the Federal Capital Territory (FCT), effective 1 January 2025.
Commenting on the transactions, MTN Nigeria CEO Karl Toriola said, “We are pleased with the renewal of the spectrum lease agreement with NTEL, which now includes coverage for all states, including the FCT.
“The lease enables us to enhance our 3G and 4G user experience as we improve coverage and capacity by utilising the spectrums.
“This positions us to capitalise on the growing demand for data and improve the delivery of services to our customers.”
Nigeria’s technology company, Globacom, has extended warm felicitations to Nigerians on the occasion of the 2024 Christmas celebrations.
In a goodwill message released in Lagos, Globacom urged Nigerians to embrace the spirit of love and kindness during the festive season, especially in the face of prevailing economic challenges.
The company emphasized the importance of practicing the teachings of Jesus Christ, particularly the virtues of obedience to God and loving one’s neighbor as well.
“Christ taught many virtues including obedience to God and loving one’s neighbour as oneself”, the company said, adding, “Now is the apt time to practise these teachings by sharing with the needy”.
Globacom also encouraged Nigerians to extend the conviviality of Christmas beyond the festive season by fostering love, peace, and harmony, as demonstrated by God through the birth of Jesus Christ.
Assuring its customers of uninterrupted services throughout the Yuletide period and beyond, Globacom urged them to take advantage of its innovative products and services to stay connected and share the memories of the season with loved ones.
Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have ordered Deposit Money Banks and Mobile Network Operators to settle the long-standing N250bn USSD debt dispute before January 2, 2025.
The CBN and NCC also directed banks to pay the pre-Application Programming Interfaces (API) debt before July 2, 2025.
They also ordered that post-API debts be settled before December 31, 2024.
The directive was issued in a joint cirular titled, “2nd Joint Circular of the Central Bank of Nigeria and the Nigerian Communications Commission on the Resolution of the USSD Debt Issue Between Deposit Money Banks and Mobile Network Operators.”
The circular dated December 20, 2024, was signed by Oladimeji Taiwo, acting director of the Payments System Management Department, CBN, and Chizua Whyte, head of Legal and Regulatory Services, NCC.
The regulators said, “In view of the foregoing, the CBN and the NCC hereby direct DMBs and MNOs as follows: 1. That 60 per cent of all pre-API invoices must be paid as full and final settlement.
“Payment plans (lump sum or installments) must be agreed upon between a concerned DMB and MNO by January 2, 2025. Installments must be based on equal monthly payments, with full payment due by July 2, 2025.
“DMBs must pay 85 per cent of all outstanding invoices issued after the implementation of APIs (i.e., February 2022) by December 31, 2024.
“Similarly, 85 per cent of future invoices must be liquidated within one month of service.”
According to the regulators, the transition to end-user billing will be activated only for DMBs and MNOs that comply with the payment conditions cobtained in the circular.
CBN and the NCC said they would provide further guidance on public enlightenment initiatives related to the transition.
The regulators also directed MNOs to implement the “10-seconds rule” for USSD invoicing.
This implies that any session lasting less than ten seconds will not be billable.
The regulators added, “Failure to comply with the terms outlined in this directive will attract necessary sanctions, ensuring that both DMBs and MNOs uphold their obligations.”
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