MTN Nigeria Clarifies Media Report On Plans To Raise Funds Via Commercial Papers

MTN Nigeria posts 3.3% decline in profit after tax

MTN Nigeria Communications PLC (MTN Nigeria) is aware of media reports that the Company is planning to raise N100billion commercial papers.

We wish to note that in our Listing by Introduction Memorandum, we had indicated that “In the past, MTN Nigeria financed its expenditure primarily through syndicated banking facilities and if expects to do so in the future in addition to exploring other financing options including but not limited to the issuance of commercial papers.”

In line with this, MTN Nigeria is currently exploring Financing options including the issuance of commercial papers and will announce any material developments via the Exchange.

Shareholders are reminded to exercise caution when reacting to information which has not been released by the Company.