MTN rubbishes $14bn Nigerian funds repatriation allegations

September 29, 2016 in Business, Companies, Foreign News, Technology & Telecoms by

In Summary

KAMPALA, SEPTEMBER 29 – Pan African mobile telephone operator MTN has just issued a holding statement […]

KAMPALA, SEPTEMBER 29 – Pan African mobile telephone operator MTN has just issued a holding statement waving off allegations of illicit funds transfers to the tune of nearly $14 billion from its Nigerian operation.

“You may have seen various media reports containing allegations of improper repatriation of money out of Nigeria by MTN. The reports refer to allegations made on the floor of the Nigerian Senate that we had illegally repatriated $13.92 billion out of Nigeria over a period of 10 years, in collusion with a number of commercial banks,” the Telco said.

“Please rest assured that the allegations made against MTN are completely unfounded and without any merit,” the statement concluded.

256BN will bring more information about this development as details become available.

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