World News: 12:00 GMT Saturday 25th May 2019. [Yahoo Business News Feed via SPi World News]
Nigeria’s Economic and Financial Crimes Commission has requested certain information and documentation regarding the May 16 listing, MTN Nigeria Communications Plc said in a statement on Saturday. While Nigeria is central to MTN’s growth strategy and home to about 60 million of the Johannesburg-based company’s subscribers, a string of accusations and legal claims by various authorities have weighed on the carrier’s shares. The listing on the Nigerian Stock Exchange was itself a condition of a settlement reached with the telecommunications regulator in 2016 over the handling of customers without proper documentation, while MTN is also fighting a claim that it owes $2 billion in back taxes.
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