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Home Business News

MTN shares fall 18% as CBN hammer shakes markets

Nairametrics by Nairametrics
August 30, 2018
in Business News, Company News
MTN

Phuthuma Nkhleko, Chief Executive Officer, MTN Nigeria

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Shares of MTN Nigeria fell by a whopping 18% as the market opened on Thursday. The company is on the hook to refund a whopping $8.1 billion to the CBN following an accusation of illegal repatriation of funds.

The share price is down 14% as at the time of filing this report.

RelatedPosts

Chief Justice: NBA calls for reforms as Nigeria swears in new CJN 

Customs seizes N1.3bn worth of smuggled goods in Ogun between May and June

MTN share price closed 19.41% down at the end of trading on Thursday.

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Tags: CBNMTNMTN Shares

Comments 1

  1. Victor Omolaiye says:
    August 30, 2018 at 4:38 pm

    The fines on MTN and the four banks could have a negative multiplier effects on the prices of other stocks.

    Reply

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