Real owners of MTN Nigeria revealed
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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.

 

 

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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Killings in Nigeria: Listen to Obasanjo’s advice, Fulani group tells Buhari

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Killings in Nigeria: Listen to Obasanjo’s advice, Fulani group tells Buhari Killings in Nigeria: Listen to Obasanjo’s advice, Fulani group tells Buhari buhari thinks

The Gan Allah Fulani Development Association of Nigeria (GAFDAN) has called on President Muhammadu Buhari to as a matter of urgency listen to the advice of former President Olusegun Obasanjo on how to move the nation forward and halt the numerous crises bedeviling the country.

Speaking with newsmen in Jos, the Plateau State capital, the National Chairman of the group, Alhaji Sale Bayari, said the present administration ought to listen to other eminent Nigerians too in solving the nation’s problems, but that from the signs he is getting, things are not in order.

He said considering the tribal, ethnic, religious and sectional agitations from the South, East, North and West, things must be done urgently to address and avert national crises. According to him, there was no part of the country that agitation is currently not going on.

He stressed that even the crises that is already happening in the Northern states like Zamfara, Kaduna, Niger, Sokoto, Taraba, Benue, Nassarawa and so on, are not good for the country, including that of the other regions like Niger-Delta militants, IPOB, Afenifere and the rest.

“In moving the nation forward, the government must listen to some elder statesmen irrespective of whatever their political views or affiliation is. Former President Olusegun Obasanjo is one of them. I have found out that if any government in Africa is to tap one-third of what is in the brain of Obasanjo and use it, Africa will be better. Similarly, West Africa and Nigeria will be better for it.

“Obasanjo knows our problem; and then whenever he talks and explodes sometimes, I have found out that it is because he has made efforts to be listened to without success. He will then feel that posterity will judge him harshly if he does not come out to tell Nigerians and the world the truth of things”, he explained.

“Undoubtedly, Obasanjo is an embodiment of knowledge, experience and he knows very well the problem of our country, Nigeria. There is nobody dead or alive today that thinks the way Obasanjo does or knows what Obasanjo knows.

“He knows Nigeria, Africa and the entire world like the back of his hand. That is why I am advising this government to tap the brains of people like Obasanjo.

“He is a person that can lead the government into looking critically at the problem bedeviling the nation and finding a way forward.

According to him, “We know that government can do and undo, but any government desiring to move forward will require the support of statesmen and nationalists like Obasanjo.

“There are other statesmen the government should listen to; people like Yakubu Gowon, Ango Abdullahi, Sultan of Sokoto, Oni of Ife, Eze of Onitsha, and others. These are people that have this nation at heart and would not want it to disintegrate.

Bayeri maintained that, “If they put their machinery in place, I bet you that peace and progress will be achieved.

“But unfortunately, nobody is mobilizing them or seeking their input in solving the national crises. These people know what to do or the right people to call, among other things in solving the problems,” he said.

Bayeri said his fear is that if the government does not carefully handle these looming crises and they degenerate, the nation does not have the well-withal in terms of security to tackle it.

He said if the nation has been unable to tackle Boko Haram since 2009, then it is a greater danger if crises burst out in other states or regions in the nation.

“Recently, the Secretary to the Government of the Federal, Boss Mustapha said if the armed banditry is not carefully handled, it will be worse than the Boko Haram insurgency. I totally agree with him entirely because if you look at the way the thing is building up now, then you will understand what I am talking about.

“Very soon, some religious and insurgent groups may capitalize on it to recruit people for other nefarious acts. We should not allow this to happen, and we should do everything possible to halt it,” he warned.

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Adeleke vs Oyetola: What Supreme Court decided on Monday

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adeleke vs oyetola: what supreme court decided on monday Adeleke vs Oyetola: What Supreme Court decided on Monday Adeleke and Oyetola

The Supreme Court has fixed judgment for July 5, 2019 in the appeals filed by Senator Ademola Adeleke of the Peoples Democratic Party (PDP) with respect to the disputed last governorship election in Osun State.

A seven-man panel of the court, led by the Acting Chief Justice of Nigeria (CJN), Justice Ibrahim Muhammad, chose the date after taking final arguments regarding the main appeal, marked: SC/553/2019 filed by Adeleke.

Adeleke, who filed four appeals, is challenging the May 9, 2019 judgment of the Court of Appeal, Abuja, which affirmed the election of Adegboyega Oyetola of the All Progressives Congress (APC) as the governor of Osun State.

The Court of Appeal also set aside the majority judgment of the election tribunal which had allowed Adeleke’s petition and declared him winner of the election.

On Monday, by agreement of lawyers in the appeals, the court took submissions from Onyechi Ikpeazu (SAN) for the appellants and Wole Olanipekun (SAN) for the 1st respondent (Oyetola) in respect of appeal marked: SC/553/2019.

The court said its judgment in the main appeal – SC/553/2019 – will be applied to two other similar one, filed by Adeleke against the Court of Appeal’s decision in relation to the appeals filed by the Independent National Electoral Commission (INEC) and the APC.

The court, which stood down proceedings for a while, is expected to resume soon to take the last fourth appeal by Adeleke, marked: SC/556/2019.

Other members of the panel are: Justices Olabode Rhodes-Vivour, Kumai Aka’ahs, Kudirat Kekere-Ekun, Amiru Sanusi, Paul Galunmje and Uwani Abbah-Aji

 

Source: Daily post

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