MTN Owes Creditors, Others N977bn As Naira Depreciation Bites Harder

MTN Nigeria Communication Plc said it owes its capital providers N977.4bn in 2023 due to high interest rates and naira devaluation.

The telecom services provider which controls over 52 per cent of the country’s market said the N977.4bn represents finance costs and net foreign exchange losses due to its capital providers.

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