Firm asks SEC to stop MTN from listing shares on stock market | The Guardian Nigeria News - Nigeria and World News

The law firm, in a letter dated March 18, 2019 stated that MTN cannot list its shares on the Nigeria stock market due to an ongoing suit before the Supreme Court over the massive divestment of its assets.

“We consider the move by MTN as unfair, misleading, and calculated attempt as usual to defraud the Nigerian economy and the Nigerian investing public. “Please be advised that under the Nigerian law and jurisprudence, MTN cannot disrespect the Supreme Court by interfering with the subject matter of litigation before the apex court in the land.”

Mekwunye claimed at the lower court that MTN through its appointed nominee, Stanbic IBTC Asset Management and LOTUS Capital defaulted in a share investment agreement with him.He urged the court then, to restrain MTN from listing its shares on the stock market pending the determination of the suit.

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Capital Market: MTN listing, NNPC privatisation will spur more participation of investors – Usman - Vanguard NewsTHE proposed listing of MTN, privatisation of Nigeria National Petroleum Corporation, NNPC and the remaining power sector privatisation will attract more participation of investors in the capital market and thus enhance financial inclusion in the country, former Minister of National Planning, Dr. Shamshudeen Usman has said.
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