Nigeria: CBN Sanctions MTN, Four Banks - Demands Refund of Illegally Repatriated N3.09 Trillion

The Central Bank of Nigeria (CBN) on Wednesday wielded the big stick on mobile telecom firm, MTN Nigeria Communications Limited, and four commercial banks for alleged financial infractions.

The CBN's spokesperson, Isaac Okorafor, in a statement sent to PREMIUM TIMES on Wednesday said the apex bank wrote to MTN Nigeria demanding a refund of about $8.13 billion (about N2.5trillion at N306.15 to $) allegedly repatriated illegally out of Nigeria.

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