THE Chief Executive Officer of MTN Nigeria, Karl Toriola, has insisted that the telecommunications giant is deeply rooted in Nigeria, describing it as “a Nigerian company through and through.”
Toriola stressed that MTN belongs not only to global investors, but also to millions of Nigerians, saying over 11 million citizens indirectly own shares in MTN through pension fund investments.
Toriola, in a recent interview, while acknowledging that MTN Group was founded in South Africa, rejected the perception that MTN Nigeria is simply a South African company, explaining that its ownership structure is globally diversified, with investors spread across Africa, North America, Europe, the United Kingdom (UK), the Middle East and the Asia-Pacific region.
He stated that MTN Nigeria operates as a distinctly Nigerian entity, incorporated in Nigeria, listed on the Nigerian Exchange, fulfills all tax obligations locally and is predominantly managed by Nigerians.
Toriola highlighted the company’s local leadership structure, noting that aside from one executive, every member of MTN Nigeria’s executive committee is Nigerian, noting that the telecoms company employs only four expatriates within its Nigerian operations and currently has over 201,000 retail investors.
