The Made of Africa Awards, yesterday in Lagos recognised MTN Nigeria Communications Plc as the Most Compliant Listed Company at the Nigerian Exchange Limited (NGX). At the award ceremony, MTN was seen to have 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.