Fidelity bank card banner Camano banner
$8.1bn row: MTN in discussion with Nigerian officials

By News Express on 23/10/2018

Views: 598


Telecoms firm MTN says it is holding talks with Nigerian officials to find a “mutually acceptable solution” to a dispute over the alleged transfer of 8.1 billion dollars.

MTN made this known in a statement on Tuesday in Johannesburg.

MTN said that further announcement on the issue would be made in due course.

“Shareholders are advised to continue to exercise caution when dealing in the company’s securities until a further announcement is made,” MTN said.

MTN and the Central Bank of Nigeria (CBN) are in a dispute over the transfer of 8.1 billion dollars which the bank said the company had sent abroad and breaches foreign-exchange regulations.

But Godwin Emefiele, governor of CBN said, while addressing reporters on Oct. 7 in London that the CBN may reduce the amount it had ordered MTN Nigeria to repatriate.

Emefiele said that new documents provided by the telecom company would help to reduce the size of the claim.

“I don’t think it will be staying at 8.1bn dollars.

“I want to believe that the figure will reduce. Whether it will be dropped completely, I honestly cannot say at this time,” he added.

Emefiele said the central bank had received documents about four weeks ago from MTN and four lenders involved in the case.

The lenders are Standard Chartered, Stanbic IBTC Bank, Citibank and Diamond Bank, adding that the apex bank was in communication with all parties involved. (NAN)

Source News Express

Posted 23/10/2018 7:15:29 PM

 

 

CLASSIFIED ADS

 

You may also like...
Abuja building collapse: Bodies of mother, child, other...

Focus on police reforms and war against poverty,...

Court adjourns case against drunk DSS operative who...

ICPC boss warns political office holders

Air Force deploys fighter jet, forces to troubled...

EFCC probes Borno Commissioner over N222m scholarship funds...

Fitch cuts Nigeria’s 2017 GDP growth forecast

Insulted by ungodliness? Then be ready to make...

Petrol tanker drivers to begin nationwide strike on...

I didn’t collect $466m bribe — Jonathan

Police dismiss reported killings during Kano supplementary polls...

EFCC commences trial of former Rivers INEC commissioner...

 

Latest News Terror attacks imminent in Nigeria — UK •Warns citizens to avoid 24 states Catholic bishop to Buhari: Hunger, insecurity reign; quit if you can’t cope Kidnapping: OPC issues 7-day ultimatum to herdsmen Amnesty Programme empowers 2,190, trains 800 Kano elders tell Ganduje to reverse new emirate law 27,000 killed in North-East Nigeria attacks since 2009, says UN Insufficient commitment by troops on frontlines affects Army operations — Buratai AbdulRazaq suspends Kwara LG councils for six months NCAA begins demolition of 8,805 telecom masts 2,000 Nigerian women die annually of unsafe abortion ― Gynaecologist Woman, 67, charged with hacking bank account, stealing N16m EFCC secures forfeiture of N60m cash traced to Ex-SSG

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (494,836 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (425,691 views) Shameless Genevieve Nnaji exposes breasts in public (365,546 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (312,152 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (276,431 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (244,119 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (234,120 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (216,006 views) 10 cars more expensive than Jets (213,078 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (204,580 views) Lagos plane crash: Journalist releases victims’ names (184,641 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (183,953 views)

 

NNPC Financial reports February 2019

CBN banner advert

UBA Wise Savers Promo

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (94) Business & Economy (4,315) Business Verdict (73) Columnists (1,051) Complaints & Requests (95) Enterprise & Opportunities (209) Entertainment (624) Features (762) Global Business Monitor (379) ICT Monitor (53) International (3,602) Interview (184) Live Commentary (30) Love Matters (162) Maggie's Blog (305) News (47,499) Opinion (1,260) Pidgin (17) Politics (11,034) Religion (1,024) Sports (2,045) Stock Watch (39) AMA & Al Jazeera Global Update

 

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera