We Are Still Negotiating With Nigerian Government, MTN Tells Shareholders
There has been much back and forth about the case with MTN and Central Bank of Nigeria, CBN on alleged illegal repatriation of profits amounting to $8.1 billion.
The telecom giant had said it was pursuing an out-of-court settlement, but not much has been heard since the MTN lawyer, Wole Olanipekun disclosed this last week, when a court in Lagos adjourned the case to December 12.
On Monday, the South African telecoms firm said it was still in talks with Nigerian authorities over the $8.1 billion dispute and a $2 billion tax demand from the office of the attorney general.
“Shareholders are advised that MTN Nigeria Communications Limited continues to engage with the Nigerian authorities in order to reach a mutually acceptable resolution on both the Central Bank of Nigeria and Attorney General matters,” the firm said in a statement on Monday.
The court hearing over the $2 billion tax demand will take place on February 7, a registrar said last Monday.
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