Investors Gain N1 trillion from Investing in Stock of MTN Nigeria

MTN Nigeria’s stock investors have gained about N1 trillion between April 2020 and October 2020, according to the Nigerian Communications Commission (NCC).

The commission said Nigerians have started riping the reward of MTN Nigeria listing on the nation’s bourse, asserting that MTN Nigeria’s stock investors have “raked in approximately N1 trillion in price appreciation and dividends since April 2020”.

Dr Ikechukwu Adinde, the Director of Public Affairs, NCC, said listing MTN Nigeria in the Nigerian capital market was as a result of collective efforts of both the Central Bank of Nigeria and the regulatory body.

“The listing of MTN was as a result of NCC’s effective regulatory action taken during the mobile network operator’s fine settlement agreement in 2016, which compelled the telco to, among other things, list on the Nigerian Stock Exchange (NSE),” he said.

The statement reads: “The listing was one of the outcomes of the NCC’s stringent regulatory posture, which served as tonic for other telcos such as Airtel to follow the same direction.

“As the country’s independent telecoms regulatory authority, the NCC, working with the Central Bank of Nigeria (CBN), facilitated the landmark listing of the country’s largest telecommunications operator on the bourse.

“That important regulatory action enabled Nigerians, consistent with the Nigerian Communications Act (NCA) 2003, to partly, own, manage and control MTN. This bold and courageous regulatory action is now transforming lives and boosting the economy.

Adinde also explained that listing the telecom giant has helped promote local investment and ownership in the telecom industry.

He said “With MTN shares available in the capital market, it is expected that Nigerians will buy shares and by purchasing the shares of MTN, they will be financially empowered and be socially transformed.” 

“Also, one of the benefits of listing on the NSE is that telcos have enormous opportunity for raising more capital for network expansion, which will, in turn, bring about improvement in the quality of service delivery and quality of experience for telecom consumers,” he added.