MTN Named the Most Compliant Listed Company on the NGX

MTN Nigeria Communications Plc has been named the Most Compliant Listed Company at the Nigerian Exchange Limited (NGX) Made of Africa Awards held at the Civic Centre, Victoria Island, Lagos on 6 December 2022.

L-R: Modupe Kadri, Chief Financial Officer, MTN Nigeria; Ishmael Nwokocha, General Manager, Corporate Treasury, MTN Nigeria; Funmi Willoughby, Deputy Company Secretary, MTN Nigeria; Solape Hammond, Special Adviser to the Lagos State Governor, SDGs and Investments; Adia Sowho, Chief Marketing Officer, MTN Nigeria and Temi Popoola, Chairman, Nigerian Exchange Limited at the Nigerian Exchange Made of Africa Awards held on 6th December 2022 where MTN was awarded the most compliant listed company.

The award recognises the listed company with the highest levels of compliance with the Rules of The Exchange and other applicable laws and regulations.

Accepting the award, Chief Financial Officer, MTN Nigeria, Modupe Kadri said: “Since MTN Nigeria’s listing on the NGX in 2019, we have been very deliberate in the way we have approached our compliance with the rules and regulations of The Exchange, which are designed to ensure that the market operates credibly and transparently; two principles we believe are essential to the functioning of a world-class exchange.

“We hope that by continuing to demonstrate the highest levels of compliance, we can help bolster the reputation of The Exchange.”

Commenting on the award, MTN Nigeria CEO Karl Toriola said: “I am extremely pleased with this significant achievement, which recognises the hard work our team has done over the last few years. Compliance is at the heart of our business and embedded in the strategic priorities that underpin our Ambition 2025 strategy. Achieving this accolade early in that journey indicates that we are on the right track.”

The award for legal and regulatory compliance from the NGX further demonstrates MTN Nigeria’s track record of compliance and contribution to Nigeria’s tax revenue, which have both been recognised and acknowledged recently.

In March 2022, MTN Nigeria was recognised as one of the most tax-compliant organisations and a top 20 taxpayer in Nigeria by the Federal Inland Revenue Service (FIRS).

In November 2022, the FIRS appointed MTN Nigeria to withhold or collect value-added tax (VAT) on its behalf, demonstrating its faith in the Company.