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MTN refutes illegally moving funds from Nigeria

MTN logoLAGOS, (CAJ News) – MTN has refuted allegations of improper repatriation of money out of Nigeria.

The mobile network operator said its attention had been drawn to various media reports containing these allegations, made at Senate implying MTN had illegally repatriated $13,92 billion out of Nigeria over a period of ten years in collusion with a number of commercial banks.

“The allegations made against MTN are completely unfounded and without any merit,” said MTN Nigeria Chief Executive Officer, Ferdi Moolman.

Senator Dino Melaye made the allegations, prompting the Senate to open investigations.

The accusation comes on the heels of MTN agreeing to pay a $1 billion fine slammed on it last year for missing a deadline to disconnect over 5 million unregistered customers in the country.

CAJ News

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