EFCC probes MTN’s listing on NSE

The Economic and Financial Crimes Commission, EFCC, is currently probing MTN Nigeria Plc for alleged manipulation of its recent share listing on the Nigerian Stock Exchange, NSE.

The probe was disclosed in a statement on Saturday by the telecommunication company, adding that the EFCC had requested for some information and documents regarding the listing of its shares on May 16.

The company, however, added that it had not been accused of any wrongdoing and that it received all the necessary regulatory approvals to start trading the stock.

Read also: MTN suffers first share price fall, dropping ASI 1.9%

“We wish to reiterate that we received all regulatory approvals required to list on the Nigerian Stock Exchange as publicly confirmed by the NSE Securities and Exchange Commission,” the statement signed by the Company Secretary, Uto Ukpanah, stated.

It was, however, gathered that operatives of the anti-graft agency raided the headquarters of the company in Lagos on Friday.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now