$8.1bn Demand: MTN Opts For Out-Of-Court Settlement With CBN

Telecommunications firm, MTN Nigeria Communications Limited, on Tuesday, asked the Federal High Court in Lagos to further adjourn the hearing in the suit it filed to challenge the $8,134,312,397.63 being demanded from it by the Central Bank of Nigeria. The $1.8bn demand by the CBN followed alleged forex remittances infraction by MTN. On Tuesday, MTN’s […]

$8.1bn Refund: MTN Took Govt For Granted, Says Finance Minister

– ‘Telecom firm only responded after CBN’s sanction’ Big businesses operating in Nigeria take the Federal Government and stipulated regulations for granted, the Minister of Finance, Zainab Ahmed, declared on Tuesday. Ahmed, who was responding to a question on the recent sanction that was imposed on MTN Nigeria Communications Limited by the Central Bank of […]

CBN Raises MTN’s Hope On $8.1b Repatriation

The Central Bank of Nigeria (CBN) may reduce the $8.1billion it ordered MTN Nigeria to repatriate as part of an ongoing disagreement, its governor Godwin Emefiele said yesterday. The MTN and the CBN are in a dispute over the transfer of $8.1 billion of funds which the bank said the company had sent abroad in […]


MTN Nigeria Records Increase in Revenue, Subscriber Base in Q1

MTN Nigeria Communications Limited has announced its quarterly results for the period ended 31 March 2018, with an increase in its revenue and subscriber number. According to the results, MTN Nigeria subscribers increased by 4.3 per cent quarter-on-quarter to 54.5 million, with constant currency service revenue increase by 14.4 per cent and data revenue increase […]

MTN Nigeria fires 280 workers

Mobile telecommunications firm, MTN Nigeria, has sacked about 280 of its workers across its different operational units. Punch Newspaper gathered that the affected workers left the company on Friday, having embraced the firm’s offer of voluntary disengagement, which was offered to employees who had served for a minimum of five years. It was further learnt […]