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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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NOA Tasks Media Practitioners to Probe Manifestos of Aspiring Political Office Holders

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Lanre Issa-Onilu, the director general of NOA
Lanre Issa-Onilu, the director general of National Orientation Agency (NOA)

The National Orientation Agency (NOA) has encouraged media practitioners to introduce probing of manifestoes of aspiring political office holders as part of their responsibilities to reshape the country from frivolous and unkept promises.

Lanre Issa-Onilu, the director general of the agency, gave the task while speaking a a panelist at the 9th annual conference of the Guild of Corporate Online Publishers (GOCOP), with the theme,’ Reconciling Campaign Promises with Governance Realities: Challenges and Prospect’, held in Lagos

He pointed out that some of the so-called manifestos are not originally from those who presented but the party they belong to, and they end up subscribing to such manifestos, stressing that as media practitioners this should be probed.

‘Some people proposed manifestos which are not theirs, but party manifestos. They end up subscribing to their party manifestos. As journalists, we do not question manifestos, but populated airtime for other things’

He equally pointed out that the manifesto of the federal government is the manifesto that governed Lagos state, explaining that the National Orientation Agency(NOA) is to communicate government projects.

The Director General added that government require value documentation, recalling that before he joined the agency, he was among those who said it should be scrapped, but when he got there, he discovered that the staff there are committed

‘Before I went to NOA. I was among those who said it should be scrapped. It is not the Agency’s problem but a Nigerian problem. When I got there, I discovered that the staff there are committed

‘I am an agency under a Ministry. There is the problem of the need to have them buy into what I want to do. I am lucky to get the support of the president who is interested in the unity of the country’, he stated.

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Enugu State Govt Condemns Murder of Catholic Priest, Places ₦10 Million Bounty on Killers

…Commiserates with family, Catholic Church

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Peter Ndubuisi Mbah

The Enugu State Government has strongly condemned the gruesome murder of Rev. Fr. Mathew Eya of Nsukka Catholic Diocese by unknown assailants.

The government also commiserated with the late priest’s immediate family, the Catholic Diocese of Nsukka, and indeed the Catholic faithful in general over the tragic incident, which occurred on Friday, September 19, 2025.

In a statement issued by the Commissioner for Information and Communication, Dr. Malachy Agbo, the government described the action as cowardly and cold-blooded.

Father Eya was said to have been shot dead by a group of assailants, who attacked and killed him along Alumona- Eha Ndiagu road in Nsukka Local Government Area of Enugu.

The government has, therefore, reiterated that security of lives and property remains its priority and vowed to bring the perpetrators to justice.

It added that it would not spare any resources within its reach, including technology and credible intelligence to track down the criminals and defeat the remnant agents of evil in the state.

Consequently, the Enugu State Government has placed a ₦10 million reward for anyone with credible information that could lead to the arrest of the perpetrators of the heinous crime.

Anybody with credible information about the perpetrators should quickly contact 07077451426. 

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IPI Raises Alarm over Rising Media Repression in Nigeria

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International Press Institute - IPI
L-R: President, International Press Institute (IPI) Nigeria, Musikilu Mojeed; Director General, Voice of Nigeria (VON), Jibrin Baba Ndace; immediate past Director, Digital Media, VON, Hajia Sani; retired News Agency of Nigeria (NAN) staff, Ameena Sani; Senior Special Assistant on Media and Publicity to President Muhammadu Buhari, Garba Shehu; and former President of the Nigeria Union of Journalists (NUJ), Abdulwaheed Odusile, during a dinner organised on Saturday in Abuja by some members of IPI Nigeria in honour of Hajia Sani, who recently retired from VON.

The International Press Institute (IPI), a global body committed to protecting press freedom and the free flow of information, has raised concern over the recent cases of media repression in the country.

Mr Musikilu Mojeed, president, IPI Nigeria, raised the alarm at a dinner organised by the institute, to honour one of its members and a retired Director, Digital Media, Voice of Nigeria (VON) Hajia Hadiza Hussaina Sani in Abuja on Saturday.

The News Agency of Nigeria (NAN) reports that the dinner was organised to honour the media icon for her dedication and service, after clocking mandatory retirement age of 60 years.

NAN also reports that the identical twin sister of the celebrator, Hajia Ameena Hassana Sani, equally retired meritoriously from the service of the agency (NAN) as a Director.

Speaking at the event, Mojeed, Editor-in-Chief, Premium Times, cited the recent “disturbing” instances of banning of live political programme in Kano State and the arrest of a journalist in Ekiti State.

“Akwa Ibom State Government recently evicted Channels TV crew, a journalist and a cameraman, from the press centre inside Government House, Uyo.

“The repressive action was taken, over the publication of a video clip, where the governor, eventually confirmed he is defecting from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC).

“A journalist with FIJ, Sodiq Atanda was recently arrested by the police in Ekiti State.

“A former “ThisDay” employee, Azuka Ogujiuba, was reportedly arrested and harassed by the Police for doing her job.

“Every single day you wake up, it is one form of harassment or the other against the media,” he said.

Mojeed, called for continued advocacy to protect press freedom and promote independent journalism.

He stressed that, efforts to protect journalists’ rights and promote independent journalism are crucial in Nigeria’s media landscape.

Mojeed said Sani’s retirement came at a critical time when the media sector in Nigeria is facing numerous challenges, including harassment, arrests, and censorship.

He noted Sani’s significant contributions to IPI Nigeria, including her role in organising its World Congress in Nigeria in 2018, as well as her subsequent active participation in various committees.

Mojeed appealed to the celebrator to continue advocating for press freedom and supporting the work of IPI Nigeria, emphasising that her expertise and experience are invaluable to the organisation.

The Director-General, VON, Mallam Jibrin Ndace, expressed gratitude to IPI Nigeria for recognising Sani’s contributions, stating that the gesture also reflected positively on the entire VON team.

He described Sani as a professional journalist who seamlessly transitioned from traditional journalism to modern digital practices, leading the digital department with innovation.

According to the DG, Sani’s leadership in the digital space, kept VON at the forefront of public media institutions and global competitiveness.

He commended her experience, passion, and love for journalism, which he said, enabled her to excel in her role and serve as a role model for younger journalists.

The VON DG emphasised that, “journalism is a marathon, not a sprint”, and Sani’s long-standing career is a testament to her dedication and commitment to the profession.

Mr Garba Shehu, s spokesman to late President Muhammadu Buhari, described the retirement of Sani as a significant loss for the organisation but a potential gain for other sectors of the journalism profession.

Shehu praised her, as “a strong and young professional with much to contribute to journalism”.

He highlighted her unique qualities, particularly her social responsibility, selflessness, and commitment to helping others to succeed.

According to him, Sani embodies the principles of servant leadership, a concept often touted by politicians but rarely exemplified.

“Her legacy as a role model for young journalists and a champion of socially responsible journalism will continue to inspire others in the field,” he said.

Abdulwaheed Odusile, former President of the Nigeria Union of Journalists (NUJ), commended Sani’s dedication and expertise, which he said, have earned her recognition and respect in the industry..

On her part, Sani expressed gratitude to God and her family for their support throughout her 34 years career in public service.

While reflecting on the challenges and rewards of her time in service, she highlighted the importance of dedication, clear vision, and family support.

Sani emphasised the need for media professionals to adapt to new technologies and appreciate their impact on the industry and the society

She stressed that, telling a good story starts with understanding oneself and one’s audience.

Despite retiring from active public service, she assured to remain active in the media space, pursuing research, teaching, writing, and lecturing.

“It has been a very difficult, challenging, interesting and rewarding 34 years in service.

“It’s not easy. You have new and great ideas, but some people don’t understand, so they find it a bit difficult to agree with you.

“But if you are consistent, if you have a clear vision of what you want to achieve, and you are dedicated and resolute, the sky is not the limit.

“I have pulled out from active public service, but have not retired. My brain is still exceptionally active, and I plan to utilise it.

“I’ll be doing a lot of research work and writing, and I won’t get tired of seeing myself in the media space,” she said.

NAN reports that Sani’s dedication to her work and her commitment to excellence have been hallmarks of her career, which started with the Nigeria Television Authority (NTA) before joining VON.

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