MTN Nigeria Communications Plc (MTN) has offered to sell 575 million units of its shares to retail investors, saying shares will be available to the public at N169 per unit from 1st December to 14th December 2021.
MTN Nigeria made this disclosure during a stakeholders engagement event, aimed at enlightening and engaging interested retail investors in Yenagoa, Bayelsa State and Edo state capital of Benin City, respectively.
Giving further details of the benefits of the public offer in Yenagoa, the General Manager, Business Development MTN Nigeria, Mr Valentine Izuchukwu, said that sales of the share did not in any way mean that MTN intends to leave Nigeria or is financially bankrupt.
He explained that the MTN Group, which holds 79 percent of the shares of the company, is making this public offer because it has decided to sell parts of its shares to Nigerians, so that they can also be part of the ownership of the company.
He reiterated MTN’s Nigerianisation agenda and commitment to doing business in Nigeria.
“We have done some things to guarantee the future of MTN in Nigeria. We have built the longest kilometers of fibre which guarantees the provision of quality internet service. The company has also decided to build its corporate headquarters in Lagos.
“This means, we have decided to stop renting an office space and build our roots in Nigeria. We have also made a commitment to contribute to road infrastructure in Nigeria. We are partnering with the government to construct road infrastructure and the first road the government has assigned for MTN to construct is the Enugu-Onitsha road. This goes a long way to prove that we are committed to remain in Nigeria and contribute to the success stories of every Nigerian.”
Giving a breakdown of the shares offer, the Senior Manager, Treasury Operations and Support, MTN Nigeria, Tolani Akanbi, said, “The minimum subscription is for 20 shares and lots of 20 shares thereafter. The offer includes an incentive in the form of 1 free share for every 20 shares purchased, subject to a maximum of 250 free shares per investor. The incentive is open to retail investors who buy and hold the shares allotted to them for at least 12 months, post the allotment date.”
She explained that the retail offer will be delivered via a digital platform, using the power of technology to facilitate the maximum possible participation by Nigerian investors.
Also speaking at the ceremony in Edo, Benin City, the Chief Customer Relations Officer, MTN Nigeria, Ugonwa Nwoye, made a passionate appeal to Edo people to take advantage of the opportunity and buy shares in the telecommunication service provider.
She said that initially the shares sold for over N200 per share but was reduced to N169 to allow more Nigerians to buy shares in the largest mobile network operator.
According to Nwoye, MTN Nigeria, as the second biggest company at the Nigerian Stock Exchange (NSE) after Dangote Cement, has never defaulted in paying its shareholders since 2019 when it was listed at the NSE.
In the same vein, the Senior Manager Investor Relations, MTN Nigeria, Chima Nwaokoma, noted that the company in the last 20 years had grown to become the biggest company at the Nigerian Stock Exchange in terms of capitalisation.
Nwaokoma highlighted some benefits of holding shares in MTN, saying, “We pay dividends twice in a year. We pay interim and final dividends. We have consistently paid to our shareholders and have never defaulted. There’s no limit to what you can buy. Edo people should take advantage of the offer and buy our shares.”
Reps Member Loses In Delta Primary
A member of the House of Representatives from Delta State, Ben Igbakpa, has lost the Peoples Democratic Party (PDP) primary.
Mr Igbakpa, who represents Ethiope Federal Constituency, was defeated by Erhiatake Ibori-Suenu, the daughter of a former governor of Delta State, James Ibori.
Mrs Ibori-Suenu scored 46 votes, while Mr Igbakpa scored 22 in a rerun.
Both aspirants had a tie, 34 votes each, during the Sunday’s primary, which caused a rerun to choose the party candidate for the 2023 election.
“I have lost my re-election bid,” Mr Igbakpa tweeted on Tuesday afternoon.
“This is not the outcome we wanted. It is not the outcome the people of Ethiope Federal Constituency wanted.
“The cheers on Sunday, May 22, 2022, demonstrated that, but it does not satisfy the appetite of a few to revise our progress and blur the vision of our people,” he said, on the microblogging site.
The lawmaker said he gave his constituents a fair representation and that they had hope in his future representation, but that “all of these have been painfully stolen by the establishment.
“The grave silence on the streets amplifies the fatal setback for Ethiope Federal Constituency.
“My contest was never about me but for the people, hence their grief. Neither I nor the people prevailed in our hope for sustenance. We have now seen what force and intimidation can do”, he tweeted.
Igbakpa said serving his people in the House of Representatives is one of the greatest honours of his life.
“I feel proud of what we have built together in three years. We have touched the vast expanse of Ethiope Federal Constituency and given our people a loud voice. We have energised our resolve in this instance and vow to continue in the same spirit for progress and unity.
“I will always remain devoted to the development of the Ethiope Federal Constituency and continue to advance my belief in democratic good governance.
“I wish the winners of today’s re-run all the best and I pray that the losers (the people) can endure the outcome and the aftermath,” he said.
Nigerian Idol: Okowa Congratulates Winner, Promises More For Youths
Delta State Governor,Ifeanyi Okowa, has congratulated the winner of Nigerian Idol Season 7, Progress Chukwuyem, describing him as a true son and proud ambassador of the State.
Chukwuyem emerged winner of the Reality TV show after defeating fellow finalist, Zadok on Sunday.
Okowa said in a statement by his Chief Press Secretary, Mr Olisa Ifeajika, in Asaba, that the 21-year old songwriter, performer and music minister, was impeccable throughout the competition.
He lauded the organisers of the show and the panel of judges for what he called perfect organisation, leading to the emergence of Chukwuyem.
The winner of the competition, Chukwuyem, hails from Ekwueze-Abavo, Ika South Local Government Area of the State.
Okowa noted that the people of Delta were known for great exploits in reality shows, having won on several occasions in different platforms, adding that the State was gifted with abundant talents.
He said his administration had continued to support youths with talents to realise their potentials, stressing that news like Chukwuyem’s would continue to inspire him to do more for them.
“As a State, we are very delighted that our son, Progress Chukwuyem, won the #NigerianIdol Season 7 competition.
“He has portrayed the Delta character of true patriotism and worthy ambassador of the State, especially with the re-orientation of our youths, through our various schemes and programmes, which have been acknowledged as highly meaningful and successful.
“As a government, we will continue to support talents in sports, creative entertainment and even in business and we are glad that Chukwuyem has added to our pride.
“On behalf of the Government and people of Delta, I thank Deltans and indeed, all Nigerians that supported our son Chukwuyem, to clinch the prize money, as winner of Nigerian Idol Season 7.
“Indeed, beyond the prize, Chukwuyem reached greatness with his God-given talent and distinguished himself as a role model and we are very happy to have him bring honour to our state,” Okowa said.
The Tide’s source reports that the show started with 12 top contestants who emerged from the preliminary stage.
It was premiered on February 6, with the weekly shows covering the auditions that led to the theatre week, before the commencement of the live shows in March.
UNICAL Hosts African Universities On Online Teaching, Quality Assurance
University of Calabar (UNICAL) in collaboration with the Association of African Universities (AAU) is jointly hosting a three-day workshop in Calabar on Quality Assurance and Online Teaching.
The workshop, which drew participants from some African countries, including Ghana, Cameroon, and Zimbabwe, has in attendance lecturers from over 20 Federal and State universities in Nigeria.
Speaking, the Vice Chancellor of the University of Calabar, Prof. Florence Obi, said the institution was pleased to host the workshop for the very first time in the 47 years of its existence.
Noting that the theme of the workshop, “Quality Assurance in Higher and Tertiary Education: Online Teaching and Learning in the Post Covid-19 Era in the University of Calabar” was apt, she said the workshop was coming at a time when UNICAL was making efforts to adopt the dual mode of teaching and working assiduously with a view to stabilise her quality assurance directorate.
“This training workshop offers the opportunity for strengthening the capacity of stakeholders in higher education institutions in Africa for global relevance.
“The theme is carefully selected in line with contemporary times of post Covid-19 era and the clamoring of higher education institutions in Africa to meet global standards in terms of academic excellence.
“Online teaching is not only necessary but urgently needed to accommodate millions of Africans desirous of further studies, especially in the post Covid-19 era.
“It is on this note that I commend the AAU for keeping tab with her objective of providing a forum for cooperation and exchange of information on higher education and research in Africa,” she said.
She told the participants that UNICAL has a rich alumni profile, showcasing state governors, ministers, captains of industries, world ranking academics, legal gurus, top medical experts and educationist, among others.
According to her, UNICAL with over 40,000 students population is ranked 15th best university in Nigeria and the 64th best in Africa.
On her part, the Project Officer/Workshop Coordinator, Association of African Universities, Dr Violet Makuku, said the association came to Calabar due to the commitment of Prof. Obi towards online teaching and quality assurance.
Makuku said, the AAU, which serves as the apex body for higher education in Africa, seeks to impact practical knowledge and skills on the participants toward enhancing online teaching and learning.
“With the Covid-19 pandemic, we came out to say no more face-to-face teaching in classrooms; hence we needed to adopt new methods of teaching.
“Everything has been digitalised, so we need to digitalise online teaching also,” she said.
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