National Wire About Nigerians, Nigerian Business and Other Stories
The Securities and Exchange Commission, SEC has approved MTN Nigeria listing on the Nigerian Stock Exchange by way of introduction.
According to a statement from the commission, the Acting Director General of SEC, Ms. Mary Uduk, said “MTN sought to come to the market by way of an introduction and they wrote to the SEC last week requesting for approval to register its existing shares. That approval has now been granted”.
Recall that the SEC received the application from the company last week to register their existing securities.
This is a further indication of the determination by the SEC to work with companies that are interested in the capital market. We believe that this will also encourage other service providers to come to the market.
While welcoming last week’s appointments of the Emir of Kano, Muhammadu Sanusi II and another Nigerian, Dr Aisha Abdullahi to the Board of the MTN Group as a good development, certain segments of the country have argued that it does not reflect the federal character principle.
Specifically, they stressed that that appointments did not reflect the geographic diversity and balancing of merit principle in the country.
