Kingsley Adonu, Chief Executive Officer of S Mobile Group and a leading MTN Nigeria distribution partner, is facing charges related to an alleged ₦10 billion fraud and money laundering scheme. He is scheduled to be arraigned at the Federal High Court in Lagos in the coming days.
Court filings accuse Adonu of moving significant sums through accounts held at multiple Nigerian financial institutions: Fidelity Bank Plc (₦1.73 billion), Guaranty Trust Bank Plc (₦6.79 billion), First City Monument Bank Plc (₦959 million), and Zenith Bank Plc (₦530 million).
S Mobile Group, under Adonu’s leadership, has played a prominent role in MTN’s airtime and data distribution network.
Adonu rose to prominence within the telecom sector through his longstanding partnership with MTN. His story, featured on S Mobile Group’s website, depicts a narrative of humble beginnings and professional resilience. It recounts how his “relentless pursuit of excellence” led to recognition by MTN, ultimately establishing him as one of the telco’s most successful partners.
In 2024, Adonu was honoured with the MTN Nigeria Partners Award, emerging as the top distributor nationwide for airtime and data. At the time, he dedicated the award to the Southeast region of Nigeria, stating:
“This is more than an award; it symbolises what is possible when you believe in yourself and commit fully to your vision. Let this inspire us all to break barriers and set new records.”
MTN praised his contribution in a statement:
“Adonu’s success proves that dreams backed by action can rewrite history. He has set a new standard for excellence and innovation among all MTN partners.”
The case is expected to attract significant attention, not only due to the magnitude of the alleged fraud but also because of Adonu’s close ties to Nigeria’s leading mobile operator.
MTN has not yet issued an official statement regarding the charges.
