24 C
Abuja

MTN shares hit three-months high amidst fear of reprisal attacks

Advertisement

Related

Advertisement
Advertisement
1min read

MTN Nigeria shares recorded a three -month leap on Friday after the partial opening of the telecoms offices nationwide after a shutdown due to reprisal attacks on South African owned businesses as a result of xenophobic attacks on Nigerians in the country.

According to Rueters, shares in MTN, Nigeria’s second-biggest listed firm, rose  5.03 per cent to 139.80 naira each, a level last seen in June. Johannesburg-listed Shoprite shares were up 1.8 percent.

The violence in South Africa has strained relations between Africa’s two biggest economies as Nigeria has taken moves to repatriate her citizens.

MTN Nigeria said its stores remained closed on Friday but skeletal office operations were resuming, its spokesman said, adding that staff were asked to stay at home for safety reasons.

Prior to the shutdown, the telecoms firm last week launched a mobile money transfer service, targeting Nigerians without bank accounts, and said it planned to become a payment services bank once it obtains approval from the apex bank.

Support the ICIR

We invite you to support us to continue the work we do.

Your support will strengthen journalism in Nigeria and help sustain our democracy.

[molongui_author_box]

If you or someone you know has a lead, tip or personal experience about this report, our WhatsApp line is open and confidential for a conversation

Advertisement

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Support the ICIR

We need your support to produce excellent journalism at all times.

Advertisement

Recent

Lagos police parade sound engineer’s suspected killers

THE Lagos Police Command has paraded six persons over the death of a sound...

NRC cancels resumption of Abuja-Kaduna train services

THE Nigerian Railway Corporation (NRC) has cancelled the planned resumption of train services along...

FCT minister seeks Rotary’s partnership in campaign to end open defecation

THE Minister of State for the Federal Capital Territory, Ramatu Tijjani, has asked Rotary...

Lagos court sentences Danish man to death for killing Nigerian wife, child

A LAGOS High Court has sentenced a 54-year-old Danish national, Peter Nielsen, to death...

ASUU denies rejecting new FUTA Vice-Chancellor

THE Federal University of Technology Akure, (FUTA) Chapter of the Academic Staff Union of...
Advertisement

Most Read

Advertisement

Subscribe to our newsletter

Advertisement