MTN Nigeria Confirms EFCC Investigation Over NGSE Listing

MTN Nigeria Confirms EFCC Investigation Over NGSE Listing

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Post Views: 237 For telecommunications giant- MTN Nigeria Communications Plc, it is literarily becoming the tale of One week, one trouble, as its mana...

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For telecommunications giant- MTN Nigeria Communications Plc, it is literarily becoming the tale of One week, one trouble, as its management wrote the Nigerian Stock Exchange (NSE) on Saturday admitting ongoing investigations by the Economic & Financial Crimes Commission (EFCC) over the listing of its shares a fortnight ago on the premium board.
The invite by the EFCC is coming after the company’s travails with the Central Bank of Nigeria (CBN) over illegal repatriation of dividends in connivance with eight banks, followed, almost simultaneously, by a probe by the Office of the Attorney General of the Federation
The statement by Uto Ukpanah, the company’s company secretary, was quick to add that “MTN Nigeria has not been accused of any wrongdoing by the EFCC.”
MTN Nigeria reiterated that it “received all regulatory approvals required to list our shares on the Nigerian Stock Exchange, as publicly confirmed by the Nigerian Stock Exchange and the Securities & Exchange Commission (SEC).”
The statement assured that the management is co-operating fully with the authorities, expressing commitment “to good governance and to abide by the extant laws of” of the country.

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