What is it with regulators these days? It appears the fear of them is the beginning of wisdom. It was in the news last week that MTN had suggested that the Naira may be devalued next year. Apparently the source of that prediction was the company’s outgoing CFO. Considering that this is just a view albeit personal, why is MTN coming out out rightly to deny the guy. What is wrong in a company predicting an even that might affect its bottom line?? See excerpts of the article below
MTN Nigeria has clarified its position on the reported call for the devaluation of the naira by its outgoing Chief Financial Officer, Mr. Andrew Bing. The telecoms operator said that the views credited to the outgoing CFO were purely personal and do not represent the position of the company.
Bing was allegedly quoted by wire reports that Nigeria’s currency will probably be devalued after next year’s election and the move will boost his company’s import costs in Nigeria, its biggest market.
“The outgoing CFO of MTN Nigeria, Mr. Bing is not the spokesperson for MTN Nigeria . He expressed his personal views on the telecommunications industry and the Nigerian economy. They are not the views of MTN Nigeria. We understand that Mr. Bing expressed these views in an informal discussion,” said MTN’s General Manager, Corporate Affairs, Funmilayo Onajide, in response to THISDAY enquiries on the issue.
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