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MTN confirms EFCC is investigating Telecom Company after listing on NSE

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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

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The Peruvian Government Has Officially Classified Transgender, Nonbinary And Intersex People As “Mentally ill”

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According to the country’s ministry of health, the controversial decision was made to ensure the country’s public health services could “guarantee full coverage of medical attention for mental health” for the trans community.

It also categorises “dual-role transvestitism,” “fetishistic transvestism,” and “other gender identity disorders” under the same bracket of mental illness.

The new law will change language in the Essential Health Insurance Plan (PEAS) to reflect the view of trans and intersex people as a mental health disorder.

Trans groups across Peru have loudly condemned the decision as a step backwards for the country’s already complex relationship with LGBTQ+ rights.

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Math Teacher Accused Of Having Sex With 2 Students And Getting Pregnant For One Tearfully Reveals The Baby Was Taken Away From Her

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The UK teacher who had a baby with an underage student while on trial for having sex with another teenage boy broke down in court after revealing her newborn baby girl had been “taken away” from her.

Manchester math teacher Rebecca Joynes, 30, sobbed to jurors over how her baby was taken “24 hours after being born” this past January — and now she only sees her for nine hours a week, Joynes told jurors on Monday, May 13, according to the Manchester Evening News.

“At the moment I have contact with her three times a week for three hours and that’s it,” she said through tears.

Joynes was arrested and released on bail on orders not to have unsupervised contact with anyone under 18 after allegedly grooming her pupil, known as Boy A in court, by buying him a $430 Gucci belt before bringing him to her apartment for unprotected sex.

She was suspended from school and eventually fired, but soon after, she began having a relationship with a 15-year-old boy, known in court as Boy B, whom she had a baby with in January.

Joynes, who has denied having sex with either boy when they were underage, told the court that when she learned of the allegations against her she had gone to the second boy in a “panic” and he deleted all of her phone’s content.

The former teacher denied having a sexual relationship with the second boy until after he turned 16 and she was already suspended from teaching.

According to her narration,

She said he had added her on Snapchat twice, which she only accepted the second time because she thought he “wanted to tell her something.”

Joynes said a friendship developed and he quickly became her “best friend” even though the boy would make flirtatious and sexualized comments toward her when he was drunk.

She told jurors that it wasn’t until after his 16th birthday that he messaged her saying “I’ve left school now” with a winky face.

After she received notice that she had been dismissed from her job, he went to her apartment, where following an emotional conversation, they had sex.

The two then entered a relationship that Joynes described as “quite toxic” telling the court how the teenager was “very controlling.”

After discovering she was pregnant, Joynes hid love notes for the boy to find around her apartment.

The notes eventually led to a piece of baby clothing that had the words “I love my daddy to the moon and back” written on it.

The court was told that she gave birth to their baby girl in January, but following an emergency court hearing, the newborn was taken away from Joynes.

Joynes has denied two counts of sexual activity with Boy A; two counts of sexual activity with Boy B; and two counts of sexual activity with Boy B while being a person in a position of trust.

Her trial is ongoing.

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First Man To Receive Pig Kidney Transplant Has Died

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The first Man to receive a genetically modified pig kidney transplant has died two months after the operation.

Massachusetts General Hospital (MGH), which carried out the procedure in March, announced Sunday, May 12, that Richard “Rick” Slayman, 62, has died.

They said there was no indication his death was a result of the transplant.

Transplants of other organs from genetically modified pigs have failed in the past, but the operation on Mr Slayman, who was suffering with end-stage kidney disease, was hailed as a historic milestone.

In addition to kidney disease, Mr Slayman also suffered from Type 2 diabetes and hypertension.

In 2018, he had a human kidney transplant, but it began to fail after five years.

Following his pig kidney transplant on March 16, his doctors confirmed he no longer needed dialysis after the new organ was said to be functioning well.

“Mr Slayman will forever be seen as a beacon of hope to countless transplant patients worldwide and we are deeply grateful for his trust and willingness to advance the field of xenotransplantation,” MGH said in a statement.

Xenotransplantation is the transplanting of living cells, tissues or organs from one species to another.

MGH said it was “deeply saddened” at his sudden death and offered condolences to his family.

Mr Slayman’s relatives said his story was an inspiration.

“Rick said that one of the reasons he underwent this procedure was to provide hope for the thousands of people who need a transplant to survive,” they said.

“Rick accomplished that goal and his hope and optimism will endure forever.

“To us, Rick was a kind-hearted man with a quick-witted sense of humour who was fiercely dedicated to his family, friends, and co-workers,” they added.

While Mr Slayman received the first pig kidney to be transplanted into a human, it is not the first pig organ to be used in a transplant procedure.

Two other patients have received pig heart transplants, but those procedures were unsuccessful as the recipients died a few weeks later.

In one case, there were signs the patient’s immune system had rejected the organ, which is a common risk in transplants.

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