ADVERTISEMENT

Telecom giant warns shareholders against media reports out of Nigeria

MTN Group strongly advised its shareholders to continue to exercise caution in dealing with the company's securities

Phuthuma Nhleko (L), CEO of MTN group, addresses a news conference in a file photo. REUTERS/Aladin Abdel Naby

MTN Group has released a statement warning its shareholders not to take media reports coming out of Nigeria into consideration before making decisions regarding the company.

ADVERTISEMENT

The company stated that it was aware of reports about the fine imposed on it by the NCC, but advised its shareholders to ignore said reports when making business decisions on the company's securities.

MTN Group strongly advised its shareholders to continue to exercise caution in dealing with the company's securities, adding that it was in negotiations with the Federal Government.

"To this end, we shall await clarity and further guidance on the fine from the Federal Government of Nigeria. Shareholders are therefore advised to continue to exercise caution when dealing in the company's securities until a further announcement is made by MTN," the company said, according to the statement.

The NCC has fined MTN Nigeria $5.1 billion back in October for failing to deactivate unregistered SIMs.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

UPDATE: 22 rescued, 2 dead in Gwarinpa building collapse

UPDATE: 22 rescued, 2 dead in Gwarinpa building collapse

Customs seize fake $6m, arrest 4 along Seme border

Customs seize fake $6m, arrest 4 along Seme border

Southern, Middle Belt Leaders endorse Peter Obi for president

Southern, Middle Belt Leaders endorse Peter Obi for president

TAFTA: Providing world-class creative education to thousands of Nigerian youth

TAFTA: Providing world-class creative education to thousands of Nigerian youth

How fragile border fuels terrorism, economic sabotage - Buhari

How fragile border fuels terrorism, economic sabotage - Buhari

Omo-Agege will end farmers, herder clashes in Delta – APC Chieftain

Omo-Agege will end farmers, herder clashes in Delta – APC Chieftain

PoS operators increase charges to 10% as Naira scarcity persists

PoS operators increase charges to 10% as Naira scarcity persists

FG to launch 24/7 citizen’s desk for diaspora response - Minister

FG to launch 24/7 citizen’s desk for diaspora response - Minister

Buhari congratulates Arise News on 10th anniversary

Buhari congratulates Arise News on 10th anniversary

ADVERTISEMENT
ADVERTISEMENT