MTNN Clarifies Dispute Over the Reduction in Airtime Sales Commission Using Banking Channels

Thursday, April 08, 2021 / 06:04 PM / NSE / Header Image Credit: MTN

MTN Nigeria Communications Plc (MTN Nigeria) wishes to clarify the news in The media regarding dispute with banks and our customers' inability to purchase airtime using banking channels.

The sale of airtime through our banking channel partners was temporarily suspended by the banks on April 2, 2021 due to a dispute over the reduction in cost of sales associated with the channel. However, services were restored on Sunday, April 4, 2021 with customers able to access all services following the intervention by our regulators. We have also reverted to the initial commission structure, while we engage with the banks to agree on a pricing basis that will result in the reduction in the costs and align with best international practice.

The impact of the disruption was minimal on our operations as we were able to successfully activate alternative channels to enable our customers purchase airtime and stay connected. We regard the banks and other Financial institutions as valued stakeholders in our business channels and we will continue to work towards a mutually beneficial business relationship.

MTN Nigeria's intention has always been geared towards business optimization to the benefit of our customers, shareholders and indeed the country. As a result, the good of our customers influence every decision we take. We will continue to live our values that 'everyone deserves the benefits of ad modern connected life'.

Visit MTN Nigeria Communications Plc IR Page in Proshare MARKETS

Graph - One Year Share Price Movement

Table: Q3 2020 Unaudited Results

Related News

1.          MTN Nigeria Q4 2020 Result Review Shares Looking Compelling Post Sell-off...

2.         MTN Nigeria Communications Plc Series III and IV Commercial Paper Issuance Now Open

3.         MTNN Acquires Additional 800MHz Spectrum

4.         MTN Profit Skips Forward Slightly as Costs Take a Toll

5.  MTNN Declares N205bn PAT in 2020 Audited Results; Proposes N5.90K Final Dividend; (SP:N174.00k)

6.         MTN Nigeria Communications Plc Releases Its 2019 Sustainability Report

7.         MTNN Notifies of Dealing in 0.8m Volume of Shares by Karl Toriola

8.        MTNN Notifies of Board Meeting Date and Commencement of Closed Period

9.         MTNN Enables Different Interfaces to allow Customers Upload their NINs

10.     MTN Empowers MSMEs, Announce Y'ello 200 for Accelerator Programme