MTN Nigeria invests N121 billion in FCFD, Treasury Bills, and more.
It’s raining yellow money Everywhere You Go.
Apr 22, 2021
One of the largest telecommunications companies in Nigeria, MTN Nigeria, has reportedly invested jaw-dropping N121 billion in Foreign Currency Fixed Deposit, Treasury Bills, Fixed Deposits, and others.
MTN injected N93 billion in naira-denominated fixed deposits, an equivalent of N19 billion in US dollar deposits, and N34.8 billion in treasury bills.
Organizations like MTN that have a huge cash flow are often seen to tilt towards treasury bills as an investment option in order to play it safe and significantly reduce the chances of any loss.
Depending on how the rest of 2021 pans out financially for other telecommunications giants, they too might follow in the footsteps of MTN Nigeria.
