MTN Nigeria to update investors on the full impact of the directive on April 8
MTN Nigeria will explain to investors on April 8 2022 how a recent directive by Nigeria’s telecom regulator, the Nigeria Communications Commission, NCC to restrict all outgoing calls from SIMs not yet linked to National Identification Number; will affect service revenue as it confirms that the directive will affect no fewer than 21 million subscribers.
In a statement, MTN Nigeria said it has made good progress with approximately 47M subscribers, representing approximately 67% of subscribers, having submitted their NINs by 31 March 2022. The provider had 68 million subscribers as of the end of 2021, which means that at least 21 million subscribers will be impacted by this directive.
It also noted that “Outgoing voice revenue from the current subscribers not linked to a NIN were approximately 9% of total service revenue for FY2021”.
Call with investors
During the call with investors proposed to hold on April 8, the company said it would explain, among other things, details of the NCC directive and how the company has implemented it; estimated timelines for completing the registration of subscribers currently suspended from making calls and proforma potential impact on service revenue for FY 2022 given the directive. The call also intends to update on any further information emerging from engagements with the NCC and telecom industry bodies in Nigeria.
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“In line with our operating licence requirements, we have complied with the directive and implemented the restrictions as communicated by the NCC,” MTN said in the statement submitted to the Nigeria Exchange Group and sighted by Nigeria Today News on Tuesday.
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“MTN Nigeria continues to urge all its subscribers who have not yet linked their NIN to their SIM registration to do so immediately for the restriction to be lifted,” the statement added.
The statement further noted that MTN Nigeria “has deployed more than 4,200 points of enrolment across the country to support the NIN enrolment drive. We continue to expand this network to ensure that enrolment is within reach of all Nigerians. In addition, we continue to work with the NIMC to accelerate the bulk of verification of NINS collected”.
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MTN is Nigeria’s largest telecom provider. In 2015 when it failed to adhere to a regulator’s directive on SIM registration, it was forced to pay a record $5.2 billion in fines.