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MTN Nigeria Finally Speaks On Server Malfunction, Counts Cost

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MTN Nigeria server breakdown on Saturday, a reliable source said may have cost the telecommunication giant within two hours an estimated N700 million.

It was also alleged that the new listed company on the Nigerian Stock Exchange (NSE) contacted the Economic Financial Crimes Commission (EFCC) to investigate cybercrime which promoted N50,000 deduction for 128GB from customers whose phone numbers are linked to their account numbers.

Another source told Nigerian NewsDirect that several MTN customers’ lines who obtained free data via *131*7*5*1*1# were blocked for 24 hours as the company continued to restore its failed data network.

The company in a text message to customers that was obtained by Nigerian NewsDirect read: “Dear customers, our electronic and VTU recharge channels may be unavailable from 12-8 am on Sunday, 16 June. Please recharge before 12 or use a voucher or dial *904#. If a minimum of 1000 is not recharged your SIM will be barred.”

Another text reads, “Dear valid customers, your SIM will be temporarily barred within the next 24 hours due to the consistent use of unassigned data.”

In his reaction, the Senior Manager, External Relations for Information Communication Technology (ICT) giant, MTN Nigeria, Funso Aina in a text message to Newsmen said, “The system glitch reported has been resolved and erroneous allocation of data reversed on all affected accounts.”

He explained further that, “Please note that no money or airtime was deducted from anyone’s account as it has been erroneously stated.”

He did not respond to how much was lost in terms of value and how many MTN customers benefited from the free data.

Meanwhile, The President of National Association of Telecom Subscribers (NATCOMS), Chief Deolu Ogunbanjo said that it is a sad occurrence for MTN, although it could be considered as cybercrime.

According to him, “It is unfortunate that it happened to MTN and I think it can be classify as cybercrime.”

Responding to Newsmen question on the vulnerability of MTN server to cyber attacks and the possibility of leakage of subscribers data and privacy, the NATCOMS President noted that valuable information, confidentiality and privacy is now eroded.

Ogunbanjo agreed that the company’s server might have been compromised and maintained that “it is quite true that MTN server could have become vulnerable, if subscribers could use a code to get free 120GB then customers data and privacy is greatly at risk, at the brink of leakage. However, MTN should encrypt very well”, he pointed out.

Ogunbanjo frowned at subscribers action as an act of cybercrime and supported MTN move against offenders.

“Whatever actions the affected telco wants to take they are free to take but subscribers confidentiality and privacy must not be threatened. MTN must take the responsibility of convincing us that our data and privacy are adequately protected”, he said.

Meanwhile, social network was agog over the server glitch that becomes a trending issue most especially on Twitter.

A twitter user, with handle@realfrancisanam had sent a tweet to MTN Nigeria support that, “ Some customers are getting 128GB for free. Some are even doing it more than once. Please try and do something about this. I would have done it but I don’t have MTN SIM card. Just try and block all their SIM cards.”

MTN Nigeria support thus replied on twitter that, “ Y’ello, thank you for contacting us and bringing this to our attention. Please provide sample phone numbers for prompt investigation.”

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GTBank Launches Quick Airtime Loan at 2.95%

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Guaranty Trust Bank Ltd (GTBank), the flagship banking franchise of GTCO Plc, Africa’s leading financial services group, today announced the launch of Quick Airtime Loan, an innovative digital solution that gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring customers can stay connected when it matters most.
In today’s always-on world, running out of airtime is more than a minor inconvenience. It can mean missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight, and options are limited. Quick Airtime Loan was created to solve this problem, offering customers instant access to airtime on credit, directly from their bank. With Quick Airtime Loan, eligible GTBank customers can access from ₦100 and up to ₦10,000 by dialing 73790#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.
For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15%. GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95%. Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.
Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience. By leveraging unique strengths across the Group, we are able to accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels.”
Importantly, Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group. Leveraging HabariPay’s Squad, the solution reinforces the Group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.
With this new product launch, Guaranty Trust Bank is extending its legacy of pioneering digital-first solutions that have redefined customer access to financial services across the industry, building on the proven strength of its widely adopted QuickCredit offering and the convenience of the Bank’s iconic *737# USSD Banking platform.

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GTCO Proudly Headlines the NPA Lagos International Polo Tournament as Main Sponsor— Championing Great Experiences and Heritage

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Guaranty Trust Holding Company Plc (GTCO Plc) (NGX: GTCO; LSE: GTCO), one of Africa’s leading financial services groups, is proud to announce its continued support as the main sponsor of the NPA Lagos International Polo Tournament, one of Africa’s oldest and most prestigious sporting events. The 2026 edition will be held at the Lagos Polo Club, Ikoyi, from Tuesday, January 27 to Sunday, February 15, bringing together top local and international polo teams and spectators from across the continent and beyond.

The 2026 NPA Lagos International Polo Tournament will feature top‑tier teams competing for major prizes, including the Majekodunmi Cup, Independence Cup, Open Cup, Silver Cup and Low Cup, among others. Guests can expect a fusion of thrilling equestrian action, polo-inspired lifestyle showcase, and curated hospitality experiences. The event will also be livestreamed, allowing audiences online to share in the excitement and spectacle.

Commenting on GTCO’s role as main sponsor of the Lagos International Polo Tournament, Segun Agbaje, Group Chief Executive Officer, said: “This tournament, one of the oldest in Africa, celebrates not only the noble sport of polo but the values we hold dear as a brand: teamwork, discipline, fair play, and a commitment to excellence. Beyond the field, it showcases Nigeria and Africa to a global audience, reinforcing the continent’s place on the world stage. Our longstanding sponsorship of the NPA Lagos International Polo Tournament reflects our conviction that sport can amplify opportunity, foster connections, and deliver world-class experiences for all.”

The NPA Lagos International Polo Tournament has long been celebrated not only for its thrilling competition and equestrian excellence but also for its rich heritage and cultural resonance within Africa’s sporting tradition. GTCO’s sponsorship embodies the Group’s commitment to creating platforms that unite communities and drive social impact across diverse audiences.

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Fidelity Bank appoints Onwughalu as Chairman following completion of Chike-Obi’s tenure

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Tier one lender, Fidelity Bank Plc, has announced the completion of the tenure of Mr. Mustafa Chike-Obi as Chairman of its Board of Directors effective December 31, 2025, and the appointment of Mrs. Amaka Onwughalu as the new Chairman of the Board, effective January 1, 2026.

The board transitions are in alignment with the Bank’s policy and have been communicated to the Central Bank of Nigeria, the Nigerian Exchange Group, and other stakeholders.

Under Mr. Chike-Obi’s leadership, Fidelity Bank repaid its Eurobond, completed the first tranche of its public offer and rights issue that were oversubscribed by 237 percent and 137.73 percent respectively, expanded internationally to the United Kingdom, and received improved ratings from various agencies amongst a long list of achievements. His tenure also saw the Bank strengthen its capital position, record steady growth in customer deposits and total assets, deepen its digital banking capabilities, and enhance its corporate and investment banking proposition. The bank equally made notable progress in governance, risk management, and operational efficiency, all of which contributed to strengthened market confidence and the Bank’s sustained upward performance trajectory.

Reflecting on his tenure, Mr. Mustafa Chike-Obi said, “It has been a privilege to serve as Chairman of Fidelity Bank. The dedication of our Board, management, and staff has enabled us to reach significant milestones. I am confident that the Bank will continue to thrive and deliver value to all stakeholders.”

Mrs. Amaka Onwughalu’s appointment marks a new chapter for Fidelity Bank. She joined the Board in December 2020 and has chaired key committees. With over 30 years of banking experience, including executive roles at Mainstreet Bank Limited and Skye Bank Plc. She holds degrees in Economics, Corporate Governance, and Business Administration, and has attended executive programmes at global institutions. Mrs. Onwughalu is a Fellow of several professional bodies and has received awards for accountability and financial management

“I am honoured to lead the Board of Fidelity Bank at this exciting time. Our recent achievements have set a strong foundation for continued growth. I look forward to working with my colleagues to drive our strategy and deliver sustainable value,” commented Mrs. Onwughalu.

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is a recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.

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