Sunday, September 28, 2025
24.2 C
Lagos

MTN Denies Improper Repatriation of $13.92bn

MTN has vigorously denied lingering allegations of improper repatriation of $13.92 billion from Nigeria via fronts.

A statement from MTN on the issue read as follows:

MTN’s attention has been drawn to various media reports containing allegations of improper repatriation of money out of Nigeria by the company.

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.

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

About MTN Group

Launched in 1994, the MTN Group is a leading emerging market operator, connecting subscribers in 22 countries in Africa, Asia and the Middle East. The MTN Group is listed on the JSE Securities Exchange in South Africa under the share code: “MTN.”

As of 30 June 2016, MTN recorded 232.6 million subscribers across its operations in Afghanistan, Benin, Botswana, Cameroon, Cote d’Ivoire, Cyprus, Ghana, Guinea Bissau, Guinea Republic, Iran, Liberia, Nigeria, Republic of Congo (Congo-Brazzaville), Rwanda, South Africa, Sudan, South Sudan, Swaziland, Syria, Uganda, Yemen and Zambia.

spot_img
spot_img

Hot this week

AIICO Deepens Bond with Retirees, Holds Annuity Forum in Lagos, PH

Mr. Gbenga Ilori, Head, Retail Business at AIICO, in...

Sovereign Trust Insurance Holds 30th AGM

L-R: Eric Balogun, Independent Director, Emi Faloughi, Director, Kayode Adigun,...

Unity Bank Shareholders Approve Merger with Providus Bank

  EGM: From left: Mr. Usman Abdulkadir, Executive Director, Risk...

NNPCL: Ogoni Re-entry is a Beacon of Reconciliation through Collaboration

The re-entry into Ogoniland marks a historic turning point...

NLNG, NCDMB Celebrate 122 Graduates of Train 7 HCD Training Program

NLNG in collaboration with the Nigerian Content Development and...

Topics

Stanbic IBTC Rewards More Nigerians with Cash Prizes at Monthly Draws

L-R: Vincent Okereke, Portfolio Manager, Blue Segment, Stanbic IBTC...

INEC Publishes Notice of Anambra State Governorship Election Nov 6

The Independent National Electoral Commission (INEC) held its regular...

BudgIT Flags 2025 FG Budget as Opaque on Revenue Stream

BudgIT, a prominent civic-tech organisation promoting transparency and accountability...

‘INSURANCE FIRST Model Will Deliver 5-Point Agenda’

Mr. Tope Smart, the new chairman, Nigerian Insurers Association...

NIA DG Seeks Continuous Insurance Awareness to Combat Negative Perception

L-R: Chuks Okonta, Ex officio, NAIPE; Nike Popoola; Modestus...

Global Retirement Funds Rise to $18.1tr in 2017

Costa Rica: The No. 1 place to retire! The world's...

Auditing Brand Media Performance PR Agency or Media Intelligence Specialist?

The repetition of the same act and expecting different...

7 Ministers Confirm Attendance at Africa Energy Forum 2016

We’re delighted to announce that 7 Ministers of Energy...
spot_img

Related Articles

Popular Categories

spot_imgspot_img