MTN Nigeria listing being investigated by Nigerian financial crimes agency

Credit: REUTERS/Afolabi Sotunde

Adds details

ABUJA, May 25 (Reuters) - MTN Nigeria MTNN.LG said on Saturday it is under investigation by the Nigerian financial crimes agency over its listing last week, although it "has not been accused of any wrongdoing" by the Economic and Financial Crimes Commission.

The listing of MTN Nigeria, a unit of South African telecoms firm MTN Group MTNJ.J, made it the second-largest firm on the Nigerian Stock Exchange, and since then its share price has risen from 90 naira to 140 naira.

A spokesman for Nigeria's financial crimes agency was not immediately available for comment.

"We received all regulatory approvals required to list our shares," MTN Nigeria said in a statement. "We are co-operating fully with the authorities."

(Reporting by Paul Carsten; Editing by Angus MacSwan and Alexander Smith)

((; Reuters Messaging: / Twitter: @PaulCarsten))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Info icon

This data feed is not available at this time.

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.