Nigeria: Osinbajo Tasks Corporate Organisations on Accountability

19 June 2021

Vice President Yemi Osinbajo says ensuring accountability in the provision of services to customers and prioritising the needs of the people should be the driving force of corporate organisations in Nigeria.

Osinbajo's spokesman, Laolu Akande, in a statement on Friday in Abuja, said that the vice president stated this when he received members of the board of MTN, led by its Group President, Mr Ralph Mupita, at the Presidential Villa.

Osinbajo said that it was critical for corporate organisations to show commitment to improving services and to build confidence in the people.

"Corporate organisations should be more accountable in their services, in the ownership structure, and also in paying attention to the needs of the people.

"Companies that ensure this will experience progress, as this is the right direction to go.

"Going forward, most corporates organisations will find that attaching greater importance to the people is the way to go."

He said that for telecommunication firms like MTN, financial inclusion and broadband connection were crucial in deepening access and would help to connect hard-to-reach places, and to retail social welfare and services.

The vice president commended MTN for its contribution to the country, adding that the company was clearly an important part of Nigeria's story.

"The company's investment was crucial when Nigeria needed to show that not only is there a large population in the country, but that it is a large market.

"The market was severely underestimated for a long time.

"So, MTN is an important part of our story, we regard MTN as an important partner," he said.

Earlier in his remarks, Mupita said that MTN wanted to deepen its structure of ownership in Nigeria.

According to him, the firm will sell another 14 per cent to Nigerian individuals and institutions.

He added that MTN as a corporate citizen was responsible in all the countries where it was represented.

"We want to have the largest retail-based shareholding in Nigeria; we want at least 2 million Nigerian shareholders, deepening our roots in Nigeria.

"Our vision is to drive digital solutions for Africa's progress, and in MTN, we are building PAN-African leadership," Mupita said.

Other members of the MTN delegation included the Chairman, MTN Nigeria, Mr Ernest Ndukwe and Group Chief Finance Officer, Mr Tsholofelo Molefe.

MTN Nigeria Chief Executive Officer, Mr Karl Toriola, and Chief Corporate Services Officer, Mr Tobechukwu Okigbo were also in the delegation.

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