The Senate on Thursday agreed to investigate an allegation that telecommunication giant, MTN Nigeria, repatriated 12 billion dollars out of the country over a 10-year period. The resolution followed a motion moved by Sen. Dino Melaye (APC-Kogi) who relied on a point of order to make the allegations. The Senate asked Melaye to present documents at the next legislative day showing evidence of the transfer for immediate investigation.

Melaye had alleged that the South Africa-owned company had taken away over 12 billion dollars from Nigeria in the last 10 years. “My respected colleagues, MTN Nigeria paid a sum of 284.9 million dollars on the 6th of February, 2001, to purchase their licence of operations in this country.

“Between 2006 and 2016, through four Nigerian Banks and a serving minister of the Federal Republic of Nigeria, MTN moved over 12 billion dollars out of Nigeria. “That is about half of our external reserves. “If I get the nod of the Senate I will want to bring a substantive motion on the next legislative day with substantiated facts to buttress this position,” he said.

Recall that MTN was involved in a dispute with the Federal Government over the non-registration of 5.2 million subscribers in 2015. The government subsequently imposed a fine of N1.04 trillion on the firm but later reduced it to N330 billion after negotiations but the company has paid N50 billion of the agreed sum.

Read more at: http://www.vanguardngr.com/2016/09/senate-investigate-mtn-12bn-repatriation-allegation/ lalasticlala, dominique

This country is a total mess.

You mean that the senate overlooked the case involving bribery allegation against the President's Chief of Staff and MTN to pursue MTN alone.

I believe Owen's Animal Farm: All animals are equal but some are more equal.

psucc:
This country is a total mess.

You mean that the senate overlooked the case involving bribery allegation against the President's Chief of Staff and MTN to pursue MTN alone.

I believe Owen's Animal Farm: All animals are equal but some are more equal.

Well said. This country is a disgrace. Buhari is a disappointment.

Nigerians are now thinking like black South Africans who initiated xenophobic attacks. Where do you want MTN to move their money to? May be the senate wants them to move it out when dollar hits N1000.

For Dino Melaye mind now his saying something abi?Ayaff tired to complain about this administration

Good.

And it's now become a crime to repatriate money to your country. Pursuing shadow instead of substance.

I bet the national assembly has gulped ten times that amount between 1999 and 2016. That house is a congregation of looters.