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Toriola, MTN Nigeria CEO Shells Out N108m for Company Shares

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Karl Toriola, CEO-MTN Nigeria
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Karl Toriola, managing director and chief executive officer of MTN Nigeria, is now among the class of 102 shareholders that control about 2.1% of the total shareholding of MTN Nigeria Plc.

Toriola, MTN Nigeria CEO Shells Out N108m for Company Shares

The CEO spent over N108 million on 679,370 Ordinary shares at an average price of N159.30 per share.

The transactions which occurred in 12 separate deals since March, 202, now positioned Toriola with better opportunity with the Nigeria’s telecom giant.

As at December 31, 2019, MTN Nigeria reported that the number of shareholders in the company amounted to 4,872 with a total shareholdings worth about 20.35billion Ordinary shares.

Meanwhile, MTN International (Mauritius) Limited is the biggest shareholder in MTN Nigeria, accounting for 76.08% of the total shareholdings as at December 31, 2019. It is among the shareholders that could boast of more than five percent of the company’s Issued Capital as at 2019.

Toriola, is expected to increase its dividend earning capacity in the company by over N4 million with a Dividend per Share of N5.90 proposed to pay shareholders by the Board of Directors for the financial year ended December 31, 2020.

MTN Nigeria expanded its revenue in the financial year ended December 31, 2020 by 15.1% year-to-year to N1.3 trillion.

It was the best any company listed on the Exchange in Nigeria had ever achieved. The strong revenue growth was basically due to its data-led segment as sales from the segment expanded by an impressive 51.5% Year to Year.

Voice sales rose relatively by 5.6% year to year as the global switch to data-enabled communication subsisted. MTN Nigeria Plc also announced a N5.90/share final dividend on impressive growth in its free Cash Flow for the financial year of 2020.

Notably, MTNN’s 4G network now covers 60.1% of the population compared to 43.8% in 2019.

According to MTN Nigeria, the suspension of new SIM registration enforced in mid-December did not have a material effect on the voice segment, which managed a 10.6% YoY revenue growth in Q4 ’20 (vs 7.0% YoY in Q3’20). In contrast, data revenue growth notably moderated to 37.5% YoY in Q4 ’20 compared to 55.5% YoY in Q3’20.

 


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SHELT Named in Prestigious 2025 MSSP 250 List for Cybersecurity Excellence

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SHELT, a leading cybersecurity-as-a-service provider, has earned inclusion in the 2025 MSSP 250, the annual ranking of the world’s top 250 Managed Security Service Providers (MSSPs) by MSSP Alert, a CyberRisk Alliance publication.

SHELT Named in Prestigious 2025 MSSP 250 List for Cybersecurity Excellence

SHELT

The list evaluates firms on business performance, service breadth, and industry impact, spotlighting those excelling in growth, operational excellence, and advanced managed security amid rising cyber threats. Selection criteria include annual recurring revenue, profitability, workforce expansion, business growth, and the depth of managed security offerings.

SHELT’s recognition underscores its investments in scalable security operations, threat intelligence, and tailored managed services across multiple regions, enabling clients to navigate complex risk landscapes effectively.

“Being recognised in the MSSP 250 is a meaningful milestone for our team,” stated Youssef Abillama, CEO of SHELT. “It validates our focus on building practical, resilient security services that help organisations manage risk and respond effectively to today’s evolving cyber threats.”

The company hailed the honour as testament to its teams’ dedication and expertise worldwide, reaffirming commitment to enhancing capabilities and delivering trusted cybersecurity solutions.


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Meta Names Ex-Trump Adviser Dina Powell McCormick as President

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Meta Platforms, owner of Facebook, has appointed Dina Powell McCormick, a former adviser to President Donald Trump, as its new president and vice chairman, bolstering its leadership amid aggressive AI and infrastructure expansion.

Meta names ex-Trump adviser Dina Powell McCormick as president

Dina Powell McCormick

The announcement, made on Monday, positions Powell McCormick – who recently stepped down from Meta’s board after eight months – to guide overall strategy, including multi-billion-dollar investments in data centres and global partnerships.

A Goldman Sachs veteran with 16 years in senior roles and prior stints as deputy national security adviser under Trump and in the Bush administration, she brings deep finance and international ties to the role.

Meta CEO Mark Zuckerberg hailed her as “uniquely qualified” for the company’s next growth phase, while President Trump praised the move on Truth Social as a “fantastic choice”.

The hire signals Meta’s efforts to strengthen White House relations, following recent dinners with Trump and U.S. investment pledges worth hundreds of billions


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X Suspends Twitter Account for Rules Violation

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X, the social media platform formerly known as Twitter, has suspended the @Twitter account, replacing its profile with a standard notice citing violation of platform rules.

X Suspends Twitter Account for Rules Violation

Musk

The action, which occurred on Sunday, January 11, left users encountering the handle greeted by a bold “Account Suspended” message on a black screen, with no details provided on the specific rules broken or the duration of the suspension.

The development has sparked widespread confusion and nostalgia among users, given that Elon Musk rebranded Twitter to X in July 2023, approximately six months after acquiring the platform for $44 billion in late 2022.

The @Twitter handle had remained dormant since before Musk’s takeover, serving as a legacy remnant of the platform’s original branding, and its suspension appears to mark the final erasure of the Twitter name amid X’s ongoing efforts to combat spam, impersonation, and rule violations.

X’s official statement on the suspended page simply reads: “X suspends accounts that violate our rules,” without offering an appeal process or further explanation, unlike standard user suspensions.

Public reactions on social media ranged from humorous laments of “RIP Twitter” to speculation that the move resulted from automated moderation or a deliberate cleanup of legacy trademarks.

xAI’s Grok AI described it as a purposeful retirement of outdated elements rather than a genuine infraction, while neither Elon Musk nor X spokespeople issued any comment as of Monday morning.

This incident underscores the evolving identity of the platform under Musk’s ownership, which also saw a domain shift to x.com in 2024, further distancing it from its Twitter roots.

Industry observers note that while the suspension aligns with X’s stricter enforcement policies, the lack of transparency has fueled debates on consistency in applying rules to high-profile legacy accounts.


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