Ife OgunfuwaMTN Nigeria Plc is facing investigations by the Economic and Financial Crimes Commission following allegations of manipulation of its share listing on the Nigerian Stock Exchange. The telecommunications company confirmed this in a statement on Saturday. According to MTN, the EFCC has requested certain information and documentation regarding the May 16 listing. The network operator said it hasn’t been accused of wrongdoing and received all the necessary regulatory approvals to start trading the stock. It was gathered that MTN’s head office in Lagos was raided on Friday by some officials of the EFFC.

Source: Punch May 25, 2019 23:01 UTC