Economy News

MTN Confirms EFCC Investigation After Listing With NSE

MTN Confirms EFCC Investigation After Listing With NSE
  • PublishedMay 25, 2019

MTN Nigeria Communications Plc on Saturday said that it was being investigated by the Economic and Financial Crimes Commission over the listing of its shares on the Nigerian Stock Exchange.

A statement posted on the NSE websitesigned by MTN Nigeria Communications, Company Secretary, Uto Ukpanah confirmed the investigation.

The statement said that the company received a letter on May 23, from EFCC requesting information and documentation related to the listing of its shares on the NSE.

“MTN Nigeria has not been accused of any wrongdoing by the EFCC.

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“We wish to reiterate that we received all regulatory approvals required to list our shares on the NSE, as publicly confirmed by NSE and the Securities and Exchange Commission.

“As a law-abiding and responsible corporate citizen, we are cooperating fully with the authorities.

“We are committed to good governance and to abiding by the extant laws of the Federal Republic of Nigeria,” said the statement.

The News Agency of Nigeria reports that there have been reports of the scarcity of the shares since after its listing.


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