MTN to merge finance subsidiaries

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This was revealed in its proposed resolutions for its 2023 Annual General Meeting scheduled to hold in April.

“Not just for those in urban centres and markets, but also people in rural and remote areas of the country who remain excluded from the financial system,” he noted.Super agents are businesses licensed by the CBN to recruit agents to provide financial services to communities on behalf of banks to increase financial inclusion.

MTN Nigeria added that the proposed merger will bring enhanced value for the company and its shareholders. Meanwhile, MTN directors have proposed a scrip dividend plan that would give interested shareholders the option to elect and receive new ordinary shares in the company instead of receiving their dividend in cash.

The scrip dividend proposal if passed at the company’s AGM, it will affect dividend declared for the financial year ending December 31, 2022 and future dividends declared by the Company commencing from 2023 financial year. The company said that the scrip plan would beneficial as the cash, which would otherwise be paid out in dividends, will be retained for working capital and other general corporate purposes.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.

 

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