Investigate MTN's controversial board appointments, ActionAid urges FG, ICPC

2024-03-13 04:17:56

Blueprint Newspapers Limited

ActionAid Nigeria (AAN) has condemned MTN Nigeria's board appointments, noting that its inclusion of former government officials with regulatory, pension and taxation, has sparked concern about its transparency, accountability, and ethical governance.

ease, AAN Country Director, Andrew Mamedu, said: "The appointments of former government officials which includes Ernest Ndukwe, former Chief Executive Officer of Nigerian Communications Commission (NCC), Ifueko M. Omoigui Okauru, former Executive Chairman of the Federal Inland Revenue Service (FIRS), Omobola Johnson, Nigeria's former Minister of Communication Technology and Mr. MK. Ahmad, the pioneer Director-General and Chief Executive Officer of the National Pension Commission, raise serious concerns about corporate governance, regulatory capture, and conflicts of interest."

The release made available to Blueprint Tuesday added: "It is unacceptable that MTN Nigeria, a company entrusted with providing essential telecommunication services to millions of Nigerians, would choose to stack its board with individuals who have a history of regulatory oversight, pensions, and taxation authorities. This move raises serious concerns about the potential for backdoor negotiations and conflicts of interest, as well as the impact on the Nigerian community.

"By allowing former government officials who were supposed to regulate MTN Nigeria to occupy top positions on its board, there is a risk of regulatory capture and undue influence over regulatory decisions. This not only undermines the integrity of our institutions but also jeopardises the interests of consumers, investors, and shareholders.

"ActionAid Nigeria demands that MTN Nigeria must immediately reconsider its board appointments and ensure that future appointments are made in a transparent and accountable manner, with due consideration given to the principles of diversity, independence, and expertise. Furthermore, we urge the Nigerian Communications Commission and the Securities and Exchange Commission to investigate these appointments and take appropriate action to hold MTN Nigeria accountable for any breaches of regulatory standards or corporate governance norms."

2024-03-13 News