FINE: CBN And MTN Getting Closer To Settlement – Lai Mohammed
The last has yet to be
heard on the fine Nigeria’s central bank asked the telecommunication giant, MTN
Nigeria to pay over illegal profit repatriation.
The CBN governor Godwin Emefiele said a fortnight ago that the matter was resolved and that MTN will be happy at the end of it.
But nothing much has yet been heard ever since until Wednesday when President Buhari’s Information Minister, Lai Mohammed revealed that a deal is imminent between CBN and MTN over the matter.
“I am sure there will be a settlement and I believe they are getting closer to resolving it,” Lai Mohammed told Reuters during a visit to London.
“They are ‘businessmen’ and they are going to resolve it... it is in the interest of all the parties that this matter will be resolved,” he said, declining to give any further details.
MTN’s shares have lost a fifth of their value since the CBN ordered the firm and the four banks involved - Standard Chartered PLC, Stanbic IBTC Bank PLC Citibank and Diamond Bank PLC - to bring back the funds, $1.8 billion.
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