News
MTN confirms EFCC is investigating Telecom Company after listing on NSE


BY: Justice Godfry
MTN Nigeria Communications PLC (MTN Nigeria) has confirmed that they received a letter on May 23, 2019 from The Economic and Financial Crimes Commission (EFCC) requesting information and documentation related to the listing of the shares on the Nigerian Stock Exchange (NSE), according to TechEconomy.ng report.
News broke Friday evening, May 24, 2019, that EFCC operatives arrived the Corporate Head Office of MTN Nigeria in Lagos to query some top officials and not unconnected with the recently share listing of MTN on the Nigerian Stock Exchange (NSE).
The South African telecommunications firm had listed by introduction, 20.4 billion ordinary shares at N90 on the NSE.
However, MTN Nigeria in the statement available to TechEconomy.ng, denied that it has not been accused of any wrongdoing by the EFCC.
The MTN’s statement titled, “Economic and Financial Crimes Commission (EFCC) Investigation and Information Request”, which was signed by the Company Secretary, Uto Ukpanah, further reads: “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 Nigerian Stock Exchange and the Securities and Exchange Commission (SEC).
“As a law abiding and responsible corporate citizen, they 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”, the Statement reads.
Recall that since the listing, there have been reports of scarcity of the shares and alleged manipulation.
Stock brokers decried the inability of retail investors to have access to the shares of MTN Nigeria on the floor of the NSE.
A representative of minority shareholders, Boniface Okezie, was reported to have said that: “Shareholders are not happy because we could not buy their shares; it was not available and we don’t share in all the excitement going around.”
The capital market regulators have also been accused of conniving with MTN Nigeria Plc to allegedly manipulate the performance of the telecom firm’s share price at the exchange.
Specifically, they argued that by allowing MTN a free float of only 5.542 million shares admitted for trading at N90/share worth N498 million when it listed by way of introduction on The NSE, rather than unbundling all the units of shares in its holding, the managers might have unwittingly created a situation of scarcity in the market.
Under the terms, “the free float requirement for companies on the Alternative Securities Market (ASEM) board is 15 per cent of market capitalisation while 20 percent is prescribed for companies listed on the main board and also premium board is 20 per cent of market capitalisation or above N40 billion on the date the exchange receives the issuer’s application.”
Source: Techeconomy.ng
News
France Urged to Address Colonial Legacy as Senegalese Activists Call for Reparations in Dakar Roundtable
Reporter: Sandra Ani


France’s colonial legacy came under renewed scrutiny as journalists, historians, and pan-African activists gathered at African Memorial Square in Dakar for a powerful roundtable advocating reparations and economic justice.
The event highlighted growing demands for France to take full responsibility for its historical role in Senegal and across West Africa.


Organized by advocacy groups including the Association of Descendants of Senegalese Soldiers, the Front for the Withdrawal of French Military Bases (GASSI), and JIF’AFRIK, the roundtable brought together influential voices pushing for reparatory justice and structural transformation.
Among the key speakers were Babacar Dioh of the Thiaroye 44 Movement—a coalition of descendants of Senegalese tirailleurs—and Souleymane Jules Diallo, leader of JIF’AFRIK. Discussions centered on two central demands: official reparations for colonial-era injustices and the urgent renegotiation of trade and military agreements that activists say perpetuate economic dependence.
“The time for symbolic gestures is over,” said Dioh. “We are now filing an official reparations claim and taking concrete steps to hold France accountable.”
Speakers called for the dismantling of existing neocolonial frameworks, stressing the ecological, financial, and social harm that has endured beyond the colonial period. The roundtable marks a turning point in Dakar’s positioning as a hub for coordinated African-led advocacy aimed at restoring historical justice.
This event adds momentum to a growing continental movement seeking tangible reparative action from former colonial powers and reinforces the call for equity, autonomy, and acknowledgment of historical truths.
News
Gov Mbah Inaugurates Committee to End Gender-Based Violence in Enugu


The Enugu State government has inaugurated a steering committee to eliminate Gender-Based Violence, GBV, in the state, declaring zero tolerance for the social malaise.
The inauguration took place at the Government House Enugu.
The panel, which is chaired by the Commissioner for Children, Gender Affairs and Social Development, Mrs. Ngozi Enih, draws its membership from the Nigeria Police Force, Ministry of Agriculture and Agro Industrialisation, Ministry of Local Government, Rural Development and Chieftaincy Affairs, Ministry of Human Development and Poverty Reduction, Ministry of Trade, Investment and Industry, Ministry of Justice, Ministry of Health, Ministry of Education as well as the Civil Society.
Inaugurating the panel known as the Steering Committee for Strengthening Institutional and Community Responses to End Gender-Based Violence/Domestication of Enugu State Gender Policy using the Oputa Panel approach, Governor Peter Mbah restated his administration’s commitment to not bringing perpetrators of GBV to book, but also putting in place proactive measures – activities, infrastructure, and systems in place to prevent them.
Mbah, who was represented by the Secretary to the State Government, Prof. Chidiebere Onyia, said, “We take gender-based violence seriously. We have zero tolerance for it, and in Enugu State, we are ready to go the extra mile to deal with it.
“If you notice, the government has selected people that are very committed to this goal. This is not an activity where we just want to check-off the list. We will track this. We will monitor this, and we will have quarterly engagements on the successes that this particular committee has achieved in terms of reference that we are going to send.
“We will tighten those terms of reference indicators, so that we monitor what we are doing both in terms of cost input and the value added. It’s very important to us. Many people will be involved – civil society, the police and various ministries.”
He however, said that the effort was to protect everyone, men and women alike, as GBV was not restricted to any gender.
“The whole idea is to hold people responsible that are involved in matters relating to gender violence and deter people that by culture or by association get involved in that, protect women, protect our children, and in the case of violence against men, protect our men because most times we misconstrue gender violence to mean women, but it can also be men too.
“We encourage our men to speak out and to make sure they understand that the policy that Enugu State is soon going to domesticate is for everyone, and not only for the female gender,” he stated.
In her remark, Mrs. Enih, explained that the Oputa Panel approach was inspired by the need to cover all local peculiarities in domesticating the policy on GBV, restarting government’s confidence in the members of the panel.
“The approach we are going to use is the Oputa Panel approach, and in the Oputa Panel approach, we are going to tour the 17 Local Government Areas to get firsthand information about what our people are going through because policy is meant for the people, and a policy should suit the people.
“Again, every community has its peculiar problems, so that’s why the government decided that if we have to domesticate the gender policy, we have to hear from the people who own the policy and know the changes that they desire to see. That is the reason we are using this approach.
“The committee members are to also serve as judges. As we gather this information from our people, we will come back to tailor it in a way to suit the people of Enugu State, and then our policy is ready.
“We want the people to know that there is a gender policy for them. I can assure you that when the people are aware that there is such a policy, they will seek for the enforcement of that policy. So, this is not going to be one of those policies that will just lie on the shelf,” she said.


Digital solutions provider, Globacom, has congratulated Christians in Nigeria on this year’s Easter celebration, and urged them to emulate the noble qualities of Jesus Christ.
The company, in a goodwill message to the Christian faithful in the country, lauded their perseverance through the Lenten period which preceded Easter. It enjoined them to always promote the ideals of selflessness, love and peace among all as a way of demonstrating the virtues of the exemplary life of Jesus Christ.
“Peace, love and sacrifice are the central message of Easter. Christ offered himself in atonement for the sins of the world and he lived a life which made Him an eternal symbol of peace and goodwill for mankind”, Globacom added.
The company enjoined all Nigerians to share in the lessons of promoting selflessness, a necessary ingredient in the growth and development of every society. It also enjoined all Nigerians to join hands to make Nigeria a better place for all.
Easter is celebrated yearly at the end of the Lenten season of fasting and prayer considered as a ritual of purification for the Christian faithful. It also precedes the crucifixion of the Lord Jesus Christ on Good Friday and His eventual resurrection on Easter Sunday.
The company assured its customers of seamless voice, data and Short Messaging Service (SMS) during and after the Easter celebrations, while urging them to avail themselves of the various data and voice offerings on the network.
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