MTN Denies Nigeria Allegations
MTN Denies Nigeria Allegations

MTN Denies Nigeria Allegations

MTN Denies Nigeria Allegations

South African telecoms giant MTN on Wednesday denied an allegation that it had illegally repatriated $13.92 billion from Nigeria, saying the claim was without merit, Reuters reported. Lawmakers in the upper house of Nigeria’s Parliament agreed on Tuesday to investigate the allegation that MTN, Africa’s biggest telecoms company, illegally transferred the money out of the West African country. “The allegations made against MTN are completely unfounded and without any merit,” MTN Nigeria chief executive, Ferdi Moolman, said in brief statement. The allegation threatens to raise tensions between Nigeria and MTN just three months after the South African firm agreed to pay a reduced fine of 330 billion naira ($1.04 million) in a settlement with Abuja over unregistered SIM cards. MTN is the largest mobile phone operator in Nigeria, which accounts for around one-third of the company’s revenues. The company had threatened to pull out of Nigeria during the dispute over unregistered SIM cards. MTN shares fell more than 3% on Tuesday.


Short URL : https://goo.gl/o5N1DF
  1. https://goo.gl/5jQpcW
  • https://goo.gl/iqHvO8
  • https://goo.gl/9izGSD
  • https://goo.gl/PqMiqz
  • https://goo.gl/O7JTK1

You can also read ...

Crisis in Madagascar as Vanilla Price Soars
Vanilla is one of the world’s most popular seasonings and an...
Profits of Thai Banks Fall
Thailand’s top four banks produced aggregate net profit of 37....
Argentina’s Treasury Minister Nicolas Dujovne (L), accompanied by Argentina’s Central Bank Governor Federico Sturzenegger speak at a news conference after the G20 meeting on Friday.
Finance leaders from the Group of 20 major economies agreed...
Vietnam Still Facing Structural Risks
Despite the generally favorable medium-term outlook, there are...
World Debt Load $164 Trillion : Debt, Protectionism Biggest Threats to Global Growth
The biggest threats to global economic growth are government...
In Emerging, Developing Countries : ILO: Over 700 Million Workers Living in Poverty
There were more than 700 million workers living in poverty in...
Euroland Progress Linked to Global Growth, Open Trade
The eurozone’s economy needs strong global growth and open...
AT&T, Verizon Under Federal Investigation
The US has opened a probe into alleged coordination by AT&...