MTN Nigeria: An Iconic Pillar of Nigerian Connectivity

In the vibrant tapestry of Nigeria’s modern economy, few brands have woven themselves as deeply into the daily lives of its people as MTN Nigeria. The iconic yellow and black logo is more than just a symbol of telecommunication; it’s a beacon of connection, opportunity, and progress. What started as a bold venture in a nascent telecom market has blossomed into an indisputable national icon, shaping how Nigerians communicate, do business, and access entertainment. Beyond the ubiquitous “Y’ello” greeting, let’s delve into the details that define this corporate giant.

---

Corporate Identity and Ownership Structure

Understanding the core of MTN Nigeria requires clarity on its legal name, ownership, and the individuals guiding its strategy.

What is the full name of MTN Nigeria?

While universally known simply as MTN, the company’s official and full registered name is MTN Nigeria Communications Plc. The “Plc” stands for Public Limited Company, which indicates its status as a company whose shares are traded publicly on the Nigerian Exchange (NGX).

Who owns MTN Nigeria?

MTN Nigeria is a publicly traded company on the NGX, meaning it is owned by its shareholders. The majority ownership lies with its parent company, the MTN Group, which is based in South Africa and holds a significant 75.58% stake. The remaining approximately 24.42% is held by a diverse mix of over 2 million Nigerian individuals and institutional investors, ensuring a substantial level of local participation in its success.

Who is the largest shareholder of MTN Nigeria?

The single largest shareholder of MTN Nigeria Communications Plc is its parent company, MTN Group Limited, which holds the controlling stake of 75.58%. The largest Nigerian shareholders are the collective body of institutional investors—such as pension funds, asset management companies, and other corporate entities—along with the millions of retail investors who own the publicly traded portion of the shares.

How much does it cost to buy MTN shares in Nigeria?

The price of MTN Nigeria shares (trading under the symbol MTNN) is not fixed; it fluctuates daily based on market forces on the Nigerian Exchange (NGX). As with any publicly traded stock, you’d need to check a financial news website or your stockbroker’s platform for the current price. To invest, you must first set up a Central Securities Clearing System (CSCS) account through a registered stockbroker.

---

Leadership and Strategic Direction

The company’s leadership is pivotal in driving its strategy, particularly its pivot toward becoming a full-fledged technology company.

Who is the CEO of MTN Nigeria?

The current Chief Executive Officer of MTN Nigeria is Mr. Karl Toriola. He was appointed to the role on March 1, 2021, and is a seasoned executive with a long history within the MTN Group. Under his leadership, the company is continuing its ambitious plans, including the expansion of its 4G/5G network and a strategic move into offering services beyond traditional voice and data.

How much is MTN CEO salary in Nigeria?

As a publicly traded company, the compensation for its Executive Directors (which includes the CEO) is disclosed in its annual reports. While the CEO’s specific total remuneration is confidential, the total compensation package for all Executive Directors was reported to be in the range of ₦1.3 billion for the 2022 financial year. This package covers a basic salary, bonuses, benefits, and performance-based incentives, and it is subject to change based on company performance and board decisions.

Who is Victor Odili?

Chief Victor Odili is a prominent Nigerian businessman, but it’s crucial to clarify his relationship with MTN Nigeria. He is not the owner or the Chairman. His connection to the company is through a long-standing but often misunderstood brand ambassadorial role. He was famously featured in the “Everywhere You Go” campaign, leading many to mistakenly believe he was a major owner, when in fact, he is a significant businessman who served as a face of the brand.

---

The Financial Services Frontier and History

MTN’s journey has evolved far beyond its original mandate, now encompassing the financial services sector to leverage its massive customer base.

Which bank is owned by MTN?

MTN Nigeria does not own a traditional commercial bank. However, it has successfully ventured into the financial services sector through MoMo Payment Service Bank (MoMo PSB). MoMo PSB is a type of bank licensed by the Central Bank of Nigeria (CBN) to offer accessible financial services like deposits, withdrawals, and transfers, especially in rural and underserved areas. MoMo PSB is MTN’s strategic arm in the fintech space.

How old is MTN in Nigeria?

MTN Nigeria is a mature and established player in the Nigerian market, having commenced operations on August 8, 2001. This means that as of 2024, MTN Nigeria is 23 years old. Its entry, following the government’s deregulation of the telecoms sector, was instrumental in ushering in the mobile telephony age across the country.

---

Essential Contact and Location Details

For customer support, official correspondence, and general information, here are MTN Nigeria’s key details.

MTN customer care number

The primary and most widely used customer care line is 300, which is accessible from any MTN line. You can also dial 180 from your MTN line to connect to a customer service agent. For digital support, you can use the “Chat with Us” feature on the MyMTN app or reach them via social media (e.g., Twitter: @MTN180).

MTN Nigeria head office and address

The physical head office, the nerve center for the company’s strategic operations, is a landmark building in Lagos.

• Head Office Location: Golden Plaza, Falomo Roundabout, Ikoyi, Lagos, Nigeria.
• Correspondence Address (Official): MTN Nigeria Communications Plc, Golden Plaza, Falomo Ikoyi, Lagos, Nigeria.

MTN Nigeria website

The official website for all information related to MTN Nigeria is https://www.mtn.ng/. This portal serves as the one-stop shop for services, tariff plans, business solutions, and access to the MyMTN app.