Dr. Karl Toriola, Chief Executive Officer of MTN Nigeria Communications Plc, has strongly affirmed that MTN Nigeria is a fully Nigerian company and called for calm amid rising xenophobic tensions affecting South African-linked businesses.
In a recent interview, Toriola emphasized the company’s deep integration into the Nigerian economy and society, distancing MTN Nigeria from broader geopolitical frictions.
“MTN Nigeria is a Nigerian company through and through,” Toriola stated. “We are domiciled in Nigeria. We are listed on the Nigerian Exchange. We pay all the taxes, duties and levies expected of us, and we are run by Nigerians.”
He highlighted the company’s broad local ownership: over 201,000 retail investors and approximately 11 million Nigerians who hold indirect stakes through pension funds. The CEO noted that the company’s shareholding is diverse, with significant local participation beyond its South African parent group.
Toriola firmly condemned all forms of xenophobia and violence, urging Nigerians not to punish local businesses and employees for actions occurring elsewhere.
“I am Nigerian,” he added, pointing out that the vast majority of MTN Nigeria’s executive team and workforce are Nigerians, with only a minimal number of expatriates.
MTN Nigeria continues to invest heavily in the country, contributing significantly to economic growth, digital inclusion, and national development through taxes, employment, and infrastructure.
The company reaffirms its commitment to serving Nigerian customers and supporting the nation’s progress, regardless of external challenges.