MTN has paid $53m to settle Nigeria dispute -central bank
| Jan 23rd 2019 | 1 min read
ABUJA - South Africa’s MTN has paid $53 million to settle a money transfer dispute with Nigeria’s central bank and the matter has been withdrawn from court, Governor Godwin Emefiele said on Tuesday.
The central bank had ordered MTN and its lenders to bring back a total of $8.1 billion it alleged the company had illegally repatriated using improperly issued paperwork between 2007 and 2008.
Emefiele said the money paid by MTN was a notional sum and that the company has been absolved from any wrongdoing, he said duing a monetary policy meeting at which the bank left interest rates on hold at 14 percent.
Toyota Probox: What this workhorse offers, but also a look at its problems
By Mate Tongola
- CBK fees waiver pushes M-Pesa daily deals with banks to Sh15b
- Ex-Britam bosses to face trial over Sh1.1b 'theft'
By Paul Ogemba
- Twelve per cent of Kenyans default on loans, says CRB
- Suppliers could sue State in Sh134b pending bills row
- Safaricom pulls NSE to 20-month low, sheds Sh40b