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MTN Denies Illegal Repatriations as Nigeria Senate Pursues Case

MTN, the South Africa-based mobile telecommunications company, has again denied making illegal transers from Nigeria.The company's Nigerian CEO said compliance with the law requiring notification within 24 hours of making a transfer was impractical. Ferdi Moolman, the CEO, appeared before Senate Committee on Banks, Insurance and Other Financial Institutions, which is investigating MTN transfers between 2006 and 2016. One Senator called the amount of the transfers "mind boggling".

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