MTN Nigeria Says It's Facing Investigation Over Share Listing

Anthony Osae-Brown, Bloomberg News

Shoppers pass the entrance to an MTN Group Ltd. telecommunications store at the Clearwater Mall in Johannesburg, South Africa, on Thursday, Aug. 3. 2017. MTN Group Ltd.said a Nigerian listing that it agreed to as part of a $1 billion regulatory fine was on track and would take place within the next six to 12 months. , Bloomberg

(Bloomberg) -- MTN Nigeria says it’s being investigated by the country’s Economic and Financial Crimes Commission over a listing of shares on the stock exchange.

The Nigerian unit of MTN Group Ltd., Africa’s biggest wireless carrier, said in a statement Saturday that it wasn’t accused of any wrongdoing and is cooperating with the investigation.

To contact the reporter on this story: Anthony Osae-Brown in Lagos at aosaebrown2@bloomberg.net

To contact the editors responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net, Dulue Mbachu, Cecile Gutscher

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MTN Nigeria Says It's Facing Investigation Over Share Listing