MTN Nigeria to Fight U.S.$10.1 Billion Demands in High Court
The telecom company has moved to protect its assets in Nigeria on behalf of its stakeholders, saying that it has decided to approach the country's courts to restrain authorities from taking further action against it. The Central Bank of Nigeria wants U.S.$8.1 billion to be returned to its coffers after alleging improper dividend repatriations by MTN Nigeria. The Attorney General has also demanded U.S.$2 billion in back taxes on foreign imports.
MTN Nigeria.
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Nigeria:
MTN Sues CBN, AGF Over Alleged $10.1b Infractions
Guardian, 11 September 2018
Telecommunications firm, MTN Nigeria, has headed for the court over the alleged $10.1 billion financial malfeasance levelled against it by the Central Bank of Nigeria (CBN) and the… Read more »
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Nigeria:
MTN Takes Bank to Court Over Alleged Forex Repatriation, Tax Arrears
Daily Trust, 10 September 2018
MTN Nigeria has taken the Central Bank of Nigeria (CBN) and the Attorney General of the Federation (AGF) to court over their investigations into the telecom company's CCIs and… Read more »
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Nigeria:
MTN Sues Central Bank of Nigeria
Vanguard, 10 September 2018
MTN Nigeria Monday sued the Central Bank of Nigeria, CBN and the Attorney General of the Federation, AGF over allegations of improper repatriation of about $8.1billion and unpaid… Read more »
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Nigeria:
Illegal Funds Repatriation, Tax Evasion - MTN Drags CBN, AGF to Court
This Day, 10 September 2018
MTN Nigeria has gone to court to challenge the directive of the Central Bank of Nigeria (CBN) that the telecoms company should refund $8.134 billion illegally repatriated from the… Read more »
InFocus
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The telecom giant MTN Group is facing another demand from the Nigerian government over the payment of U.S.$2 billion in tax arrears. The bill comes just days after the country's ... Read more »
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The demand by the Central Bank of Nigeria is the latest setback as the bank has ordered MTN Nigeria and four banks to refund the sum of U.S.$8.1 billion alleged to have been ... Read more »
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MTN Group shares have plunged to a nine-year low - a day after Nigeria ordered the mobile telecoms group to repatriate U.S.$8.1 billion that the authorities say was illegally sent ... Read more »