Alleged probe: Lafarge says not in receipt of any letter from SEC

Lafarge Africa Plc has that it is not in receipt of any letter from the Securities and Exchange Commission (SEC), that would warrant the Company to believe that an investigation has been launched against it.

Lafarge in a notice at the Nigerian Stock Exchange (NSE) signed by Adewunmi Alode, its General Counsel and Company Secretary reacted to a newspaper report (not BusinessDay) on October 21, 2019 which alleges that the cement maker was being probed over allegations of poor corporate governance practices and abuses, saying it was as a result of a petition written by concerned shareholders of the publicly – quoted company.

“We write to formally notify the Nigerian Stock Exchange, our Shareholders and the investing public, that Lafarge Africa Plc is not in receipt of any letter from the Securities and Exchange Commission, that would warrant the Company to believe that an investigation has been launched against it,” the October 22, 2019 letter reads.

Stock market closes in red as MTNN, Eterna, Cadury, others lose

By Iheanyi Nwachukwu • October 22, 2019

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.