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WARNING! ! Shocking Detail: Do You Have MTN Line? They May Shut Down Soon According To MTN CEO Karl Toriola
In order to continue operating, MTN Nigeria, the biggest telecom provider in the nation, has emphasized how urgently the telecom industry must earn a profit again. During a visit of MTN’ s facilities in Ibeju- Lekki, Lagos, on Monday, Fellows of the Media Innovation Program were given this information by MTN CEO Karl Toriola.....Read Full Article>>
The head of MTN, who oversees over 78 million users, found that the industry has been suffering large losses and that quick action is required to stop this trend. Its 2023 Sustainability Report states that the operator has invested N2. 6 billion in corporate social responsibility and is currently making ends meet with the revenues it has amassed over the past 20 years.
” We must return the industry to profitability, ” he stated, emphasising the necessity for reform. He went on to explain that the business is now running on its reserves, which he said is not long- term viable. Telecom companies reaffirmed their demands earlier this year for a rate raise, the first in eleven years, in order to combat growing operating expenses and enhance service quality.
They contended that service standards and financial sustainability would keep deteriorating in the absence of such changes. Toriola reaffirmed that growing operational expenses, such as the increased cost of diesel needed to power base transceiver stations, are putting significant pressure on the industry.
He warned, ” There should be no delusion; if the tariff doesn’ t go up, we will shut down, ” underscoring the urgent need for tariff adjustments to reflect economic realities.
Toriola pointed out that these financial difficulties have caused MTN, formerly one of Nigeria’ s largest corporate taxpayers, to reduce its tax payments. MTN and Airtel have taken a conservative approach to capital expenditure for 2024 in light of their first- quarter results. Globacom and 9mobile, the nation’ s other two mobile providers, are not publicly traded.
Due mostly to foreign exchange losses brought on by the devaluation of the naira and high rates of inflation, MTN Nigeria recorded an astounding N519. 1 billion loss in the first half of 2024. In addition, Toriola issued a warning that the N250 billion debt owing by Nigerian banks could result in the suspension of Unstructured Supplementary Service Data banking services.
Until the debt is settled and tariffs are changed to reflect the current state of the economy, the mobile network operator is requesting regulatory authority to stop supporting USSD services used for banking transactions.
Toriola did, however, voice hope that Dr. Aminu Maida, the Executive Vice Chairman of the Nigerian Communications Commission, and Yemi Cardoso, the recently appointed Governor of the Central Bank of Nigeria, would step in to help address the ongoing financial crisis.
In his closing remarks, he emphasized the vital role that the telecom sector plays in bolstering Nigeria’ s economy and urged policymakers and regulators to take immediate action to avoid the disastrous effects of delay.
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How Police officer gun down his wife and their domestic worker
The police in Limpopo, South Africa are seeking public assistance to provide information to trace an officer, Sergeant Nditsheni Vele, for allegedly k!lling his wife and their domestic worker.....Read Full Article>>
It was gathered that Vele f@tally shot his wife and the domestic worker on Tuesday evening, October 29, 2024, at their residence in Masisi policing area, Vhembe District.
The police urged anyone with useful information that can help locate Sergeant Vele, to contact the nearest Police station.
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BREAKING: Charles Olumo a.k.a Agbako passes away at 101
The Nigerian film industry and the Yoruba cultural community mourn the passing of beloved actor Pa Charles Olumo Sanyaolu, affectionately called Agbako, who has died at the age of 101.....Read Full Article>>
The legendary actor, whose career made an indelible impact on Nigerian cinema, passed away early Thursday morning after a short period of fatigue.
Mr. Latin, President of the Theatre Arts and Motion Pictures Association of Nigeria (TAMPAN), confirmed Agbako’s passing on Instagram. While not disclosing details of his death, Mr. Latin announced that burial arrangements would soon be provided by Agbako’s family and the association.
“@tampanglobal announces the passing of Pa Charles Olumo Sanyaolu, fondly known as AGBAKO. Details of the burial arrangements will be shared at a later time. Good night father, 25/02/1923 to 31/10/2024,” he wrote.
The news was further confirmed by Nollywood veteran Jide Kosoko, prompting a wave of condolences from actors, filmmakers, and fans across Nigeria and beyond.
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JUST IN: Lagos woman bites off neighbor’s tongue in dispute over bucket
Residents of Aribisala Street in the Igando area of Lagos State were thrown into confusion on Thursday after a woman identified simply as Fatima allegedly cut off the tongue of her neighbour, Mitsura.....Read Full Article>>
PUNCH Metro learnt that the incident happened while the duo was doing laundry on the premises where they live.
Trouble was said to have was said to started when Fatima who is in her early thirties allegedly accused Mitsura of using her bucket without taking permission from her.
This was said to have degenerated into an argument that eventually led to a fight between them.
During the fight, Fatima allegedly strangled Mitsura and bit off her protruded tongue in the process.
Speaking to our correspondent after the incident, on Thursday, the landlady who identified herself simply as Mama Ibadan, said she had earlier settled a fight between them.
She said, “They were both washing when neighbours called to inform me that they were fighting each other over the bucket. I quickly rushed down there to settle the fight and also appeal to both of them. It was after I had left that I heard people shouting that someone’s tongue had been cut off. It was when I got there that I saw Mitsura’s mouth soaked in blood. That was how I got to know that her tongue had been bitten off by Fatima.”
Mitsura who just turned 18 years was immediately rushed to the hospital for treatment. She was however said to have been rejected at three different private hospitals before she was later admitted at the Igando General Hospital.
“We immediately took her to a nearby hospital but she was rejected. This was the same with two other hospitals that we went to before we later took her to the general hospital. Fatima’s husband who was called and informed about what happened had also gone to the hospital,” a neighbour who gave her name as Funke told our correspondent.
Another neighbour, who preferred anonymity because of the sensitive nature of the incident, described the victim as an orphan, adding that she recently moved in to live with her friends, who rented an apartment in the building.
She said, “Mitsura had lost her parents. So due to accommodation challenges, she decided to move in with her female friends who rented an apartment here. The friends were not around when the incident happened. But when they heard what happened, they had to rush home quickly. After they took her to the hospital, they went to the police station to make a report.”
Our correspondent learnt that Fatima attempted to flee after committing the act but was restrained by some residents.
As of the time of filing this report, Fatima was being handed over to the police for prosecution.
When contacted, the state Police Public Relations Officer, Benjamin Hundeyin, said he was not aware of the incident. “I am not aware,” he said.
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