FG seeks 15 pct interest from MTN on $8.1bn moved abroad: Court papers

Posted by News Express | 5 October 2018 | 1,526 times

Central Bank of Nigeria is asking a Lagos court to make South Africa’s MTN pay 15 percent annual interest on the $8.1 billion it claims was illegally moved abroad, according to court documents seen by Reuters.

The bank also asked the court to dismiss MTN’s case seeking to stop the monetary authority’s order for the telecoms firm to repatriate the funds back to Nigeria, the documents showed. (Reuters)