wifeesnatcher:
Efcc doing another person's work. thought NCC existed because of checkmating the discrepancy among all these networks companies?

Its actually d job of Securities and Exchange Commission (SEC) since it regulates d capital market. NCC is meant to regulate telecom operations

aolawale025:
Why not ask for then papers formally? Must everything be dramatized

So they go hide incriminating evidence abi so if FBI or Interpol wan visit u they go send u letter abi so u go cook and buy drink wait for them abi I think the only issue if any here is that they might not be the right agency to have facilitate this

oshe11:
They should Destroy MTN in any way POSSIBLE

MTN is the best in Nigeria for now

Isn’t this the job of the Security & Exchange Comission (SEC). Was the raid even necessary in the first place ?

lolz..MTN every were u go...Efcc always at your back..

BabaOwen:
MTN is the best in Nigeria for now

They should be DESTROYED.........

I dey plan to customize "I'm I a Yahoo boy"" on my cloth dey use am dey post are you with me??

I dont just know why I have a wrong notion about this MTN shares

I just have a feeling their is a hidden play in the whole drama

AntiWailer:


Is NCC a financial crime commission ?

Or you don't know the full meaning of EFCC ?

mumu if NCC are a regulatory body, do they found any indictment or petition Mtn to the efcc?


this means NCC are useless body if efcc is the only one allowed to checkmate the discrepancy of the network companies without petition from the regulatory body


seems many people don't know the functions of each agencies in this country. is just like police taking criminals to jail without petition and prosecution at the court of law

aolawale025:
Why not ask for then papers formally? Must everything be dramatized

Asking for papers formally from MTN might give them enough opportunity to cover their tracks.

wifeesnatcher:
Efcc doing another person's work. thought NCC existed because of checkmating the discrepancy among all these networks companies?


storming a company without petition from the NCC is something that makes sense at all?

I know that you an expert.

mmsen:


How naive are you?

Do criminals hand over evidence of their crimes?

If there’s a crime they will know just by looking at the papers MTN hands over.

A discrepancy, no matter how minute, will point the way.

Even before the FBI raids any company they suspect to be involved in stock scam, they carry out months of investigation until they have successfully built a case which they can then pitch to a judge for a search warrant.

Of course, they can’t bypass the NSE or the SEC sef

aolawale025:
Why not ask for then papers formally? Must everything be dramatized

Buhari govt will completely kill the economy I tell you!! if EFCC has any problem with the listing they should head to the NSE office who handled the listing in the first place .

And everything must be by Gustapo style. Why not send in auditors or invite them to come along with the necessary docs. What is it with this govt and shutting down ones operations.
And tomorrow they wonder why they don't see foreign investors coming near

wifeesnatcher:



mumu if NCC are a regulatory body, do they found any indictment or petition Mtn to the efcc?


this means NCC are useless body if efcc is the one checkmating the discrepancy of the network without petition from the regulatory body


seems many people don't know the functions of each agencies in this country. is just like police taking criminals to jail without petition and prosecution at the court of law

It's not NCC job oga, It's between SEC and EFCC, NCC can only come in if such investigation is about to affect telecommunication services.
It was CBN that helped Etisalat resolved it's case with the banks, not NCC, NCC only contributed its quota in respect to services aspect.

teepain:


Asking for papers formally from MTN might give them enough opportunity to cover their tracks.

And you think that by bursting into a head office unannounced, they will find the needed evidence lying around?

MTN has very smart business fund management crack team. You fine MTN millions of dollars and they list their shares publicly and make trillions from your citizens and walk away.

Corporations must continue to own countries. Call me a crazy Capitalist and I accept.

mmsen:


How naive are you?

Do criminals hand over evidence of their crimes?

it's this kind of low IQ that you are displaying that is the bane of Nigeria today ...for an UP IPO that is barely 2 weeks old and that was handled by the NSE under the supervision of SEC then the place for EFCC to go is the NSE office and not MTN ..this is how this shallow govt supported by IQ deficient people like you have crumbled the Nigerian economy more and more

wifeesnatcher:
Efcc doing another person's work. thought NCC existed because of checkmating the discrepancy among all these networks companies?


storming a company without petition from the NCC is something that makes sense at all?

This is a financial crime

wifeesnatcher:
Efcc doing another person's work. thought NCC existed because of checkmating the discrepancy among all these networks companies?


storming a company without petition from the NCC is something that makes sense at all?

Efcc has over sight discretrin all fraudulent transactions involving money.remember they are a law enforcement agencies. if the matter enters into fraud,Efcc can come in at anytime

wifeesnatcher:
Efcc doing another person's work. thought NCC existed because of checkmating the discrepancy among all these networks companies?


storming a company without petition from the NCC is something that makes sense at all?

someone somewhere in this govt has a hand in this ...they want to control MTN Nigeria ,just like they have been able to highjack some lucrative banks in Nigeria from the original owners

God Bless Obasanjo for creating EFCC

wifeesnatcher:
Efcc doing another person's work. thought NCC existed because of checkmating the discrepancy among all these networks companies?


storming a company without petition from the NCC is something that makes sense at all?

it is a financial crime.

wifeesnatcher:



mumu if NCC are a regulatory body, do they found any indictment or petition Mtn to the efcc?


this means NCC are useless body if efcc is the only one allowed to checkmate the discrepancy of the network companies without petition from the regulatory body


seems many people don't know the functions of each agencies in this country. is just like police taking criminals to jail without petition and prosecution at the court of law

Shut up. You are not making sense.


If EFCC is doing anything not within their jurisdiction, MTN has better lawyers than an internet rat to defend it.

Go back to your cave

rodeo0070:
Operatives of the Economic and Financial Crimes Commission (EFCC), on Friday, May 24, 2019, raided the office of MTN Nigeria in Falomo Ikoyi, Lagos, shutting down all activities in the Complex, Brand Spur has learnt. This is in what a source said was connected to complaints relating to the telecommunication’s recent listing in the market.

The operatives of the anti-graft agency were said to have stormed the MTN’s office in Lagos, where it met with top key officials of the company and demanded some documents relating to its listing at the NSE.

While the reason for the raid could not be ascertained at the time of reporting, Brand Spur, sources say members of the agency stormed the telco’s head office, stopping all activities for alleged fraudulent financial activities pertaining to the company’s recent listing on the Nigerian Stock Exchange (NSE).

“I believe the EFCC was informed that MTN was manipulating figures and also, maybe because of fraud pertaining to the company’s listing,” the source said.

Brand Spur reached out to the telco’s Public Relations Officer, Funso Aina, who neither denied nor admitted that the company was raided, but said: “We will send out a statement to that effect very soon”.

Big players in the Nigerian capital market also think that if MTN shares continue to climb the way it is rising they stand the risk of being dethroned from their vantage positions as the market leaders.

They are believed to be interested in the stories making the rounds that the scarcity of the MTN shares is a function of manipulation.

No official of the EFCC and MTN was prepared to be put on record on the matter.

MTN Nigeria was listed at a total of 20, 354,513,050 at N90 per share on May 16, after the company had completed all the necessary steps required by the NSE for listing which led to the approval.

On the day of the listing, MTN Nigeria was reported to have emerged as the second largest company on the nation’s bourse after Dangote Cement with a market capitalisation of N1.83 trillion.

In spite of its first day bullish outing, the shares of MTN Nigeria recorded its first price loss on the Nigerian Stock Exchange (NSE) on Friday after its listing on May 16.

The stock dipped N9 to close at N140 per share following profit taking.

The telecommunications company had listed 20.35 billion shares at N90 per share which recorded steady growth to hit N149 per share.

The market capitalisation shed N263 billion or 1.90 per cent to close at N13.601 trillion compared with N13.864 trillion recorded on Thursday.

SOURCE: https://brandspurng.com/2019/05/24/efcc-raids-mtn-nigeria-head-office-over-share-listing/

This government simply hates Nigeria and Nigerians. Everything raid, force, shut down. If you have a hammer, every problem will look like a nail.

The international community and investors will look at this and simply pull out their investments from Nigeria. More job losses.
Do they ever think? Investors are highly risk-averse. They will see this and that is that for them. They are off.

wifeesnatcher:
Efcc doing another person's work. thought NCC existed because of checkmating the discrepancy among all these networks companies?


storming a company without petition from the NCC is something that makes sense at all?

What if NCC is trying to cover up? I don't think they will just wake up one morning and decide to storm MTN if they do not have genuine and proper reason to do so.

A lot of people like to cheat in this country especially the elites who believe they have the power to get anything they want.

Money raises doubt among brothers.

Meanwhile, I have Tecno Camon CM Phone for sale.
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Phone is in neat and tight.
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Do you have to closed down a business entity in order to effect an arrest?

Can they arrest the key players involve and allow their business to strive?

Nigeria is becoming a very difficult country to do business not just because of the stupid polices in place but also the senseless arrest of our law enforcement agencies. 9ja l hail o.

wifeesnatcher:



mumu if NCC are a regulatory body, do they found any indictment or petition Mtn to the efcc?


this means NCC are useless body if efcc is the only one allowed to checkmate the discrepancy of the network companies without petition from the regulatory body


seems many people don't know the functions of each agencies in this country. is just like police taking criminals to jail without petition and prosecution at the court of law

Yes ncc checkmate the discrepancy of the network companies but when it comes to a company playing fraud, I think efcc has every right to act with out ncc intervention because it's their job.

AntiWailer:


They pick yahoo , problem

Pick politician witch hunt

Enter MTN , let them mind their business


What exactly is their business ?

You guys have conditioned with that short mind not to see anything good about the country.

When I see comments from 'smart' people and leaders of tomorrow, I know fully well that Nigeria is hopeless.

Not because of the idiots at the helm of affairs now , but the M0r0ns that will likely take over in the future.

Don't mind them...
very few of them know what efcc stand for...
economic financial and other related crimes commission and they have the authority unlike ICPC to venture into both shading/corrupt dealings of both public and private companies....

so the EFCC is on point...
I think the efcc have been so active lately unlike the times of LAMORDE AND FARIDA those two almost crippled the agency especially the former