MTN Nigeria refutes allegations of improper repatriation of funds
MTN Nigeria is facing fresh allegations of misconduct with authorities accusing the operator of illegally moving $14 billion (R189.8 billion) out of the country.
Dino Melaye, the politician who made the motion, accused MTN of repatriating the money over a period of 10 years beginning in 2006, with the help of four different banks.
“The reports refer to allegations made on the floor of the Senate that MTN had illegally repatriated $13.92 billion out of Nigeria over a period of 10 years in collusion with a number of commercial banks,” MTN said in a press statement.
MTN Nigeria has strongly refuted allegations of improper repatriation of funds. “The allegations made against MTN are completely unfounded and without any merit,” said MTN Nigeria CEO, Ferdi Moolman.
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