EFCC shuts down MTN Nigeria head office for alleged fraud

MTN Nigeria gains 2.87% to cross N3 trillion market cap

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Operatives of the Economic and Financial Crimes Commission (EFCC), on Friday raided the MTN Nigeria head office in Falomo Ikoyi Lagos, shutting down all activities in the Complex, BusinessDay has learnt.

Although the reason for the raid could not be ascertained at the time of reporting, BusinessDay, sources say members of the anti-graft agency stormed the telco’s head office, stopping all activities for alleged fraudulent financial activities pertaining to the company’s recent listing on the Nigerian Stock Exchange (NSE).

“I believe the EFCC was informed that MTN was manipulating figures and also, maybe because of fraud pertaining to the company’s listing,” the source said.

BusinessDay contacted Funso Aina, MTN’s Public Relations Officer, who neither denied nor admitted that the company was raided, but said: “We will send out a statement to that effect very soon.

 

Jumoke Akiyode-Lawanson



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