Operatives of the Economic and Financial Crimes Commission yesterday raided the head office of MTN Nigeria Communications Plc in Falomo, Lagos over the scandal rocking the company’s recent listing on the Nigerian Stock Exchange .
Although no official of the EFCC and MTN could provide official statements on the matter, a source familiar with the deal, said the visit of the team from the anti-graft agency was sequel to the barrage of complaints from “several unnamed brokers that the shares of MTN are not available for the public to buy despite the recent listing that was greeted by huge excitement.”
When contacted, the Senior Manager, External Relations at MTN Nigeria, Mr. Funso Aina said the company would issue an official statement on the issue.But as at the time of filing this report, the company was yet to release any official statement on the issue. But investors and stakeholders have been expressing worries about the free float accommodation MTN Nigeria Communications Plc was granted by the capital market regulators to pave the way for its listing. Their concerns stemmed from the fact that the price of MTN shares would be sold at high premium and those waiting to buy the shares through an Initial Public Offering , would be forced to buy them at very high cost, whenever the telecoms company decides to float the IPO.
They are DIRTY
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