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MTN Denies $13bn Repatriation Allegation

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Telecoms giant MTN has denied allegations that it illegally repatriated $13.92 billion out of Nigeria over a period of 10 years.

The allegation was made on the floor of the Nigerian senate on Tuesday by Dino Melaye, the senator representing Kogi west.

In a brief statement issued on Wednesday, Ferdi Moolman, the CEO of MTN Nigeria, said the allegation lacks “any merit”.

According to Moolman, “The allegations made against MTN are completely unfounded and without any merit”.

MTN has been having a rough patch with the Nigerian authorities since it started operations in 2001.

The South African company has at various times been accused of taking money out of Nigeria under the pretext of printing recharge cards.

It also recently incurred a fine of N1.04 trillion for failing to disconnect unregistered lines, and the reduction of the fine to N330 billion has been opposed by lawmakers.

Source: OkayNG.com

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Farouk Mohammed
the authorFarouk Mohammed
Chief Editor
Farouk Mohammed is a Senior Editor at Okay Nigeria (OkayNG.com). He has been publishing for 5 years and focused more on Local/World News on OkayNG.com.

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