Business News

Subscriber Slams N250m Suit On MTN Over Wrongful Arrest, Illegal Detention

A subscriber to MTN Nigeria Communications Limited, Chidi Johnson has instituted N250 million suit against the telecommunications company before a Federal High Court in Lagos, Southwest Nigeria over his alleged harassment, arrest and illegal detention without a reasonable cause. Johnson is claiming the sum as damages for the public harassment, inconvenience and loss of business […]

Business News

Stakeholders Berate MTN Over Persistent Default,Abuse Of Law

•Tasks group on best practice, accountability Following double sanctions slammed on the MTN Group over allegations of illegal repatriation of $8.13 billion, and another $2 billion in outstanding taxes, capital market stakeholders believe these are a ‘dent’ on the firm’s corporate governance image. They urged MTN to entrench best practice and accountability in its operations, […]

Business News

$8.1bn: MTN Denies Illegally Repatriations, Claims Senate Clearance

Telecommunication firm MTN, yesterday, refuted claims by Central Bank of Nigeria (CBN) that it illegally repatriated $8.1billion from its Nigerian operations to offshore investors, in collusion with four Nigerian banks. CBN said two days ago that MTN repatriation violated its rule that required such transaction be done with regular Certificates of Capital Importation (CCIs) issued […]