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Last Thursday’s listing of MTN Nigeria shares on the Premium Board of the Nigerian Stock Exchange (NSE) has made it possible to identify the shareholders of the telecoms firm.

Many Nigerians believed the Nigerian government owned part of the South African firm through an unspecified equity holding by the Nigeria Sovereign Investment Authority (NSIA).
But a review of the listing memorandum filed by MTN Nigeria in support of its application for the enlistment of its shares on the NSE revealed the profiles of the shareholders of the company.
The list did not include either the Nigerian government or the NSIA. PREMIUM TIMES learnt that the NSIA investment “is very small” and could not have been listed among those of the big players.
The document dated May 15, 2018, showed 11 owners of MTN Nigeria. They own the entire 20,354,513,050 Ordinary Shares of the company valued at about N407.1 billion as at the time MTN applied to be listed.
They include the majority shareholder, MTN International (Mauritius) Limited, which has the controlling 76.08 per cent equity, or 15,485,544,050 shares valued at about N309.71 billion, and Stanbic IBTC Asset Management Limited with 9.77 per cent stake or 1,988,269,050 shares valued at about N39.77 billion.
Also included are six Nigerians, who are non-executive directors of the board. Each represents various foreign interests in the company.
Victor Odili, a Nigerian, and Chairman of Aeromaritime Group of companies, a group specialising in the maritime and oil and gas sectors of Nigeria’s economy, is a member of the board. He holds 806,886,900 shares, or 3.96 per cent interest, valued at about N16.14 billion indirectly on behalf of Hermitage Overseas Corporation.
Also, Pascal Dozie, a Nigerian and founder of the defunct Diamond Bank PLC, is the Chairman of the Board of Directors. He holds 340,409,900 shares, or 1.67 per cent equity valued at N6.67 billion, indirectly, on behalf of Celtelecom Investment Limited, NISPVLimited.

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Another Nigerian, Sani Mohammed Bello, a co-founder of AMNI Petroleum, an indigenous oil and gas exploration companies, is the vice chairman of the board. He holds 265,092,150 shares (1.30 per cent equity) estimated at about N5.3 billion indirectly on behalf of One Africa Investment Limited.
Babatunde Folawiyo, a Nigerian and Chairman/Chief Executive Officer of the Yinka Folawiyo Group, holds 218,815,100 shares, or 1.07 per cent equity, valued at N4.01 billion on behalf of Universal Communications NISPV Limited.
Similarly, Gbenga Oyebode, a Nigerian and founding partner of Aluko & Oyebode law firm, represents the interest of N-Cell NISPV Limited. He holds 181,776,250 shares, or 0.89 per cent equity, valued at N3.27 billion.
Ahmed Dasuki, a Nigerian and founder of Quaditect Consultants, represents NISPV Limited/ SASPV Limited, which controls 177,717,850 shares, or 0.75 per cent equity valued at about N2.89 billion.
Government Employees Pension Fund (Represented by Public Investment Corporation SOC Limited) were also listed as owners with 355,281,650 shares (1.75 per cent equity) valued at about N7.11 billion.
Also, Mobile Telephone Network N.I.C.B.V holds 559,720,150 shares, or 2.75 per cent, valued at about N11.19 billion.
Robert Shuter, Ralph Mupita, Jens Schulte-Bockum, Ferdinand Moolman, Paul Norman and Karl Olutokun Toriola serve as representatives of MTN Group on the Board of Directors of the company.
With the listing of the company’s shares on the NSE, MTN Nigeria becomes the first privately owned telecoms company in Nigeria to attain that status.
The listing of the company on the premium board of the NSE on April 18, 2019, resulted in the change of the company from a private company to a publicly quoted telecoms company on the NSE.
MTN Nigeria, a subsidiary of MTN International (Mauritius) Limited, was incorporated in the Republic of Mauritius, with its ultimate holding company, MTN Group.
The company was incorporated on November 8, 2000. But, it did not commence operations until 2001. Since then, the company has remained in operations for almost 18 years in Nigeria.
MTN Nigeria is reputed to be Nigeria’s largest telecoms operators, with about 67 million subscribers, controlling about 39 per cent mobile market share.

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COVID-19: Gov Abiodun orders full reopening of hotels, schools, churches, mosques

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Gov. Dapo Abiodun of Ogun State has ordered full reopening of hotels, viewing centres, marquees, event centres, suites, guest houses and motels.

Others in that category are restaurants, eateries, lounges, bars, and cinemas.

We reports Gov Abiodun, in the wake of the deadly Coronavirus, ordered the closure of those establishments to avoid the spread of disease.

In a statement by his Chief Press Secretary, Kunle Somorin, on Wednesday, the Ogun Governor said those in the industry should open for business fully.

Somorin informed that Abiodun has further told schools, markets, churches and mosques in Ogun to revert to their regular programme of activities as obtained before COVID-19.

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However, Somorin urged the hospitality establishments to strictly adhere to a set of guidelines in order to keep up with the protocols aimed at further flattening the curve of COVID-19.

The statement said that the government would not hesitate to do selective lockdown should there be any flagrant disobedience to the set COVID-19 protocols.

“And, if perchance we discover that any of our centres is not complying or adhering to the laid down protocols, we will not hesitate to close down the centre,” he warned.

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BREAKING: Osun State Governor, Oyetola Relaxes Curfew

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Osun State Governor, Gboyega Oyetola, has relaxed the curfew imposed on the state , now 8pm to 6am.

This was contained in a press statement by the Secretary to the State Government, Wole Oyebamiji, on Wednesday.

The governor said the relaxation of the curfew takes effect from Thursday.

The statement read in part,

“Following the high level of compliance with the 24-hour curfew declared last Saturday to forestall further breakdown of law and order in the State, the Governor of the State of Osun, Mr. Adegboyega Oyetola, has approved the relaxation of the curfew period, effective from tomorrow, Thursday, October 29, 2020.

“Consequently, the curfew will now run from 8:00pm to 6:00am daily.

“Security operatives will still remain on the streets to enforce the new curfew directive with a view to further maintaining law and order.

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“Also, all motorcycle operators will now operate from 6:00am to 8:00pm daily as earlier announced.

“This will subsist even after the curfew is completely lifted.”

The governor commended #EndSARS protesters for suspending demonstrations in the state.

He urged those with looted items to ensure that they return them, stressing that defaulters would be prosecuted.

The statement said, “As we all know, the curfew was never declared in the first instance to inflict hardship on our people but to protect them and return normalcy to the State.

“We commend the residents and citizens of Osun for their show of understanding and cooperation in the last five days of the curfew.

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“We also laud our youths for displaying a high sense of maturity and understanding in calling off any form of protest in light of the prevailing circumstances.

“Government remains committed to the cause of our youths and shall take every necessary step to ensure their welfare.

“Government also commends those who took advantage of the amnesty period to return looted items in line with the Omoluabi ethos for which we are known.

“Whistle Blowers could still reach out to us on 08187187678 for information on looted items.
However, effective from tomorrow, Thursday, October 29, anyone found to be in possession of any looted item will be arrested, investigated and prosecuted as earlier announced.”

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