MTN Reaches U.S.$402 Million Settlement With Nigerian Authorities
South Africa's MTN and Nigeria's Central Bank have been locked in a dispute over the company's transfer of funds, which the bank said was sent abroad in breach of foreign exchange regulations - an amount totalling U.S.$8 billion between 2007 and 2015. MTN is also fighting another hefty fine for not ensuring that the directive on the deactivation of unregistered SIM cards was carried out. The government said this was one of the ways in which militant group Boko Haram managed to plan its terror attacks in the country.
Premium Times, 10 January 2019
The Nigerian government and mobile telecommunications firm, MTN, have reached an out-court-settlement in a suit filed by government lawyers accusing the company of illegally… Read more »
Nigeria: MTN, CBN Settle Out of Court
This Day, 11 January 2019
Following the resolution of the dispute between MTN Nigeria Limited and the Central Bank of Nigeria (CBN), Justice Saliu Saidu of the Federal High Court in Lagos yesterday accepted… Read more »
MTN, 27 December 2018
As previously communicated, the Central Bank of Nigeria has alleged improper repatriation by MTN Nigeria Communications Limited (“MTN Nigeria”) of US$8,1 billion… Read more »
An MTN facility in Abuja.
The Senate has expressed concern over an alleged plan by the government to reduce the U.S.$8.1 billion fine imposed on the telecommunication giant MTN to U.S.$800 million. MTN ... Read more »
A Lagos judge has adjourned a hearing in an U.S.$8.1 billion dispute between telecoms firm MTN and Nigeria's Central Bank until 12 December, after lawyers said they wanted to ... Read more »
A Federal High Court in Lagos has fixed December 4, 2018 to hear the suit filed by MTN Nigeria to challenge the U.S.$8.1 billion being demanded from it by the Central Bank of ... Read more »