MTN Discloses USSD Debt Share of N74 Billion

MTN has disclosed that its share of the N160 billion USSD debt owed to telecom operators by Deposit Money Banks (DMBs) is N74 billion.

The financial statement for December 31, 2024, released on Friday, revealed that MTN had received N32 billion from the banks.

Read Also: NCC Orders Telcos to Disconnect Nine Banks USSD

The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) issued a joint circular to resolve the debt impasse, requiring 60 percent of pre-API invoices to be settled by July 2, 2025, and 85 percent of post-API invoices by December 31, 2024.

Despite earning N3.36 trillion in revenue in 2024, MTN reported a loss after tax of N400.44 billion. MTN attributed this to high inflation and naira devaluation.

The company’s subscriber base increased to 80.9 million, and active data subscribers grew to 47.7 million.