MTN GROUP LIMITED - MTN Nigeria strongly refutes allegations of improper repatriation of funds

MTN Nigeria strongly refutes allegations of improper repatriation of funds

MTN Group Limited
(Incorporated in the Republic of South Africa)
Registration Number 1994/009584/06
Share code: MTN
ISIN: ZAE000042164
("MTN" or the “Company”)

MTN NIGERIA STRONGLY REFUTES ALLEGATIONS OF IMPROPER REPATRIATION
OF FUNDS

MTN’s attention has been drawn to various media reports containing allegations of improper
repatriation of money out of Nigeria by MTN Nigeria Communications Limited (“MTNN“).
The reports refer to allegations made on the floor of the Senate that MTNN had illegally
repatriated $13.92 billion out of Nigeria over a period of 10 years in collusion with a number
of commercial banks.

According to MTNN CEO, Ferdi Moolman, “The allegations made against MTNN are
completely unfounded and without any merit”.

Fairland
28 September 2016

Sponsor
Deutsche Securities (SA) Proprietary Limited

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