The PUNCH was able to secure an e-copy of the report on Wednesday, which states that this information was included in the financial statements for the period ending June 2024.

The MTN Nigeria CEO remarked, “The macroeconomic conditions in Nigeria have been challenging during this period,” in response to the results. Rising inflation and the naira’s continuous devaluation versus the US dollar and other currencies have been major issues for the nation.The CEO stated that the naira closed June 2024 at N1,505/$ (December 2023: N907/$) in the Nigerian Autonomous Foreign Exchange Market. The inflation rate reached 34.2% in June, with an average rate of 32.8 % for the first half of the year.