MTN: 10,507 -23 (-0.22%)
MTN has paid $53 mln to settle Nigeria dispute -central bank
ABUJA, Jan 22 (Reuters) - 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Nigeria's central bank and the matter has been withdrawn from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.
(Reporting by Paul Carsten
Writing by Chijioke Ohuocha
Editing by Louise Heavens)
First Published: 2019-01-22 15:58:37
Updated 2019-01-22 16:02:29
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