{"id":319226,"date":"2019-05-25T11:31:43","date_gmt":"2019-05-25T09:31:43","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=319226"},"modified":"2019-05-25T11:31:43","modified_gmt":"2019-05-25T09:31:43","slug":"mtn-nigeria-says-it-faces-investigation-over-shares-listing","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/mobile\/319226\/mtn-nigeria-says-it-faces-investigation-over-shares-listing\/","title":{"rendered":"MTN Nigeria says it faces investigation over shares listing"},"content":{"rendered":"<div class=\"article-content\">\n<p>MTN Nigeria says it\u2019s being investigated by the country\u2019s Economic and Financial Crimes Commission over a listing of shares on the stock exchange.<\/p>\n<p>The Nigerian unit of MTN Group Ltd, Africa\u2019s biggest wireless carrier, said in a statement Saturday that it wasn\u2019t accused of any wrongdoing and is cooperating with the investigation.<\/p>\n<p>The South African company listed its shares on the Nigerian Stock Exchange on May 16 to comply with terms of a $1.5 billion settlement in 2015 with the Nigerian Communications Commission over unregistered phone lines on its network.<\/p>\n<p>Since the listing, the stock has jumped 41 percent, closing at 140 naira per share on Friday, giving the company a market capitalization of 2.8 trillion naira, second only to Dangote Cement Plc.<\/p>\n<p>The Lagos-based bourse said on May 21 that MTN\u2019s shares weren\u2019t available for buyers and urged the company to provide more of the stock for investors.<\/p>\n<p>MTN is also in court challenging a $2 billion bill for alleged back taxes.<\/p>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/telecommunications\/317024\/mtn-nigeria-to-list-on-nigerian-stock-exchange-this-week\/\" target=\"_blank\" rel=\"noopener noreferrer\">MTN Nigeria to list on Nigerian stock exchange this week<\/a><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>MTN Nigeria says it\u2019s being investigated by the country\u2019s Economic and Financial Crimes Commission over a listing of shares on the stock exchange.<\/p>\n","protected":false},"author":59,"featured_media":292478,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[26,28],"class_list":["post-319226","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mobile","tag-headline","tag-mtn"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/319226","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=319226"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/319226\/revisions"}],"predecessor-version":[{"id":319228,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/319226\/revisions\/319228"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/292478"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=319226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=319226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=319226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}