MTN To Meet With Central Bank Of Nigeria

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The Central Bank of Nigeria (CBN) is planning to meet MTN and four banks over $8.1 billion refund request by the regulator.

Two days after offering a reconciliatory tone in London, Godwin Emefiele, Governor of the CBN has sent out letters of invitation to MTN and four banks for a meeting today, sources close to the issue have told Lagos-based Business Day newspaper.

Two months ago, CBN demanded $8,1 billion (R115 billion) allegedly paid as a dividend to MTN to be refunded to it.

The government also handed MTN with a separate $2 billion tax bill.

MTN Nigeria has applied to the Federal High Court of Nigeria for injunctive relief from the CBN and the Attorney General of the Nigerian Federation (AGF)’s orders.

In 2016, MTN was slapped with a $5.2 billion fine, which was later reduced to $3.9 billion and is still paying the Nigerian authorities.

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