MTN’s Mobile Money Bank Suffers N22B Fraud

The newly licensed Mobile Money Payment Service Bank Limited (MOMO PSB) a banking subsidiary of MTN Communications Limited has in less than a month operations suffered a massive fraud worth over N22 billion on its network. Court processes in a suit instituted by the Mobile Money Bank against 18 Banks and obtained by our correspondent revealed that an aggregate sum of N22,300,000,000, equivalent to about $53.7m was erroneous transferred to accounts maintained by customers of 18 different banks in the country. In an originating summons dated May 30, 2022 and…

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NCC Issues Licenses To MTN, Mafab Comms, As 5G Services set to roll out

PRESS STATEMENT NCC Issues Final Letters of Licence Awards to 5G Spectrum Winners The Nigerian Communications Commission (NCC) has confirmed issuance of the final letters of award of the Fifth Generation (5G) Spectrum Licences to MTN and Mafab Communications, winners of the 3.5GHz spectrum auction conducted by the Commission on Monday, December 13, 2021. Management of the Commission led by its Executive Vice Chairman (EVC) Prof. Umar Garba Danbatta confirmed this to the Board of Commissioners at the Board’s Special Meeting, which took place on Wednesday, April 20 and Thursday, April…

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How to Link Your MTN, Airtel, Glo, and 9mobile SIM Cards with NIN on NIMC Mobile App

Linking your SIMs to your National Identity Number (NIN) is now compulsory following the recent directive of the federal government which asked telecom companies to bar subscribers who are yet to do so from making outgoing phone calls. Over 70 million subscribers have been affected by the development. For those affected, now there are multiple means to get your NIN linked to line. You can do the linking via your network providers such as MTN, Airtel, Glo and 9mobile. You can also do so via the NIMC mobile app named…

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MTN Gets CBN Approval To Operate Payment Service Bank

Telecommunication giant, MTN, has received the final approval to operate as Momo Payment Service Bank Limited (Momo PSB). The approval was granted by the Central Bank of Nigeria (CBN), according to a statement issued on Monday by MTN Secretary, Uro Ukpanah. “MTN Nigeria Communications PIc (MN Nigeria) announces the receipt of a letter dated 8 April 2022 from the CBN addressed to Momo PSB conveying final approval to commence operations,” the statement partly read. “The date of commencement will be communicated to the CBN in accordance with its requirements. “MTN…

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MTN and MAFAB acquire Nigeria’s 5G licences

The Transparency Nigeria Group has asked the Federal Government of Nigeria and all the relevant security agencies to immediately launch an investigation into business practices of Mafab Communications Limited, one of the companies that was announced as a successful bidder for one of Nigeria’s 3.5 GHz licences. Mafab Communications was incorporated in 2020, has no comprehensive tax history and appears to have been specifically set up by connected insiders for the purpose of acquiring one of the highly valued 5G licences. Read Also : UEFA Champions League Round of 16…

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MTN begins paperwork to fund the 100km Enugu-Onitsha Road project

MTN begins paperwork to fund the 100km Enugu-Onitsha project. Jkcyno news gathered that Last year, N6bn Sukuk was released to Raynold’s construction company, RCC and N4bn to Arab Contractors for two sections, with several Kilometers covered so far. MTN is bringing N46bn under the Road Infrastructure Tax Credit (RITC) Scheme for completion. This newly adopted method would definitely help the government in building and maintaining most of the Federal roads nationwide by Multinational companies.

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MTN Nigeria Compensates Subscribers For Network Downtime

MTN Nigeria Communications Plc has announced compensation for its subscribers to make up for the network disruptions experienced last Saturday. On Saturday, 9th October 2021, MTN Nigeria users witnessed hours of network disruption caused by an outage that left customers without a connection. Olutokun Toriola, Chief Executive Officer, MTN Nigeria, apologised again to customers for the inconvenience, stating that new measures were being implemented to mitigate a repeat of such an event. “On behalf of the entire MTN team, I want to start with a heartfelt apology. We are truly…

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MTN subscribers lament service outage nationwide

Some MTN SIM subscribers are currently experiencing service outage and are unable to connect with loved ones and business associates in parts of the country, jkcyno news has learnt. Our correspondent gathered that the customers were unable to use the mobile network operator’s call, data and SMS services. “Emergency calls only” showed on the screens of MTN users our correspondent spoke with as of the time of filing this report at 04:30pm on Saturday. The users told our correspondent that they started experiencing the outage around 2:30pm on Saturday. Some…

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Network Providers responsible for cutting off Nigerians from Twitter

Most Nigerians woke to discover that they couldn’t access the “Twitter app” probably because the Nigeria government Placed a ban on it. However, jkcyno news gathered that the government had asked the ISPs(internet service providers) like Airtel, MTN, Glo and 9mobile to cut off access from Nigerians to Twitter app. This sudden configurations from the ISPs also affected most phones from accessing the “google play store”. They jammed the network preventing most people from having access to the app. However, most people still managed to Download and install VPN and regained…

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Reason MTN subscribers cannot recharge across bank channels

“MTN users in the house will not be able to buy airtime across Bank channels due to the ongoing dispute between Banks and MTN. Almost all Banks unanimously took a decision to shutdown MTN vending as well as MTN on Demand yesterday night.” Major reason being that FOR EVERY RECHARGE YOU MAKE VIA BANK APPS OR USSD, BANKS MAKE 4 NAIRA OUT OF EVERY 100 NAIRA RECHARGE….. MTN HAS REPORTEDLY SAID TO BE DEMANDING TO PAY 2 NAIRA TO BANKS AND THEY ALL SAID NO….

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