EFCC Probes MTN’s Listing

Channels Television  
Updated May 25, 2019

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Telcoms giant MTN has said its listing on the Nigerian Stock Exchange is the subject of an enquiry by the Economic and Financial Crimes Commission.

MTN, which was listed on the Exchange last week, however, said it had not been accused of any wrongdoing by the EFCC.

According to a statement by the Company Secretary, MTN, Uto Ukpanah, which was posted on the NSE’s website, the telecoms giant received a letter from MTN on Thursday requesting information and documentation related to the listing of its shares.

Stressing that it has not been accused of wrongdoing, the company said, “We wish to reiterate that we received all regulatory approvals required to list our shares on the Nigerian Stock Exchange, as publicly confirmed by the Nigerians Stock Exchange and the Securities and Exchange Commission (SEC).

“As a law-abiding and responsible corporate citizen, we are co-operating fully with the authorities. We are committed to good governance and to abiding by the extant laws of the Federal Republic of Nigeria.”