• Data from the NBS indicates that mobile payment transactions in Nigeria for the first half of 2018 hit a record ₦739.6 billion in the first half of 2018 compared to ₦555.8 billion and ₦612.7 billion in the first halves of 2017 and 2016 respectively. POS transactions topped ₦1 trillion for the first half of the year compared to ₦610 billion and ₦676.7 billion in the same period in 2017 and 2016 respectively. Internet Web-enabled transactions came in at about ₦113.9 billion for the first half of 2018 compared to ₦83 billion and ₦106.2 billion in the same period in 2017 and 2016 respectively. In total, e-payment channels in Nigeria for the first half of 2018 was ₦65.3 trillion in the first half of 2018 compared to ₦49.4 trillion in the same period in 2017.
  • CEO of the MTN Group, Rob Shuter, has said that the company is committed to Nigeria even as the continent’s largest wireless carrier considers how to respond to an order to return $8.1 billion in repatriated funds. “We have a proud history of being a major partner to the people of Nigeria and notwithstanding our current difficulties are firmly resolved to continue to do so,” Shuter said on Monday. The CEO, a former Vodafone Group Plc executive, was appointed partly in response to the previous Nigerian crisis, which claimed the job of his predecessor. Since taking over in March 2017, he’s started a review of the South African company’s 22 markets across Africa and the Middle East, and agreed the sale of its Cyprus unit. However, with more than a quarter of MTN’s total subscribers, Nigeria can’t be easily abandoned. The Nigerian demand threatens MTN’s plans for an initial public offering in the country and may restrict its ability to pay dividends, depending on how long the dispute drags on.
  • ExxonMobil has announced that a blockade by former employees threatens crude production at one of its oil terminals in Nigeria. The company made the announcement in a statement after a six-week blockade by former workers at the oil facilities.
  • South Africa’s Sun International expects an investigation into a shareholder dispute at its Nigerian operation to be completed shortly, paving the way for the casino and hotel operator to finally exit that market. Sun International bought a 49 per cent stake in the Tourist Company of Nigeria in 2006, becoming the largest single shareholder. However, that deal has been disputed by some of the Ibru family, a fellow shareholder in TNC, which prompted various parties including Sun International and SEC to appoint consultants Deloitte to investigate. Sun International then said in 2016 it planned to exit the country.