One notable case which the Economic and Financial Crimes Commission (EFCC) investigated in 2019 was that on the MTN over alleged irregularities in the process of its listing on the bourse of the Nigerian Stock Exchange (NSE). In May 2019, the firm had listed by introduction, 20.4 billion ordinary shares at N90 on the NSE. In less than a week, the share price had risen to N131 as scarcity drives up its value. Many believed the company did not follow due process and had given insider information to some of its major shareholders. After further explanations from the Securities Exchange Commission (SEC), MTN was let off the hook.
In January 2020, Premier lotto, Nigeria’s foremost lottery…
Source: Nigerian Tribune
