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MTN refutes illegally moving funds from Nigeria

28 September 2016, 18:24Okoro Chinedu

Lagos - 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.

Also read: Buhari's Chief of Staff accused of taking N500m bribe from MTN

“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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