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MTN Denies Illegal Transfer Of $14bn From Nigeria by DONSMITH123(m): 2:02pm On Sep 28, 2016
South African telecoms giant, MTN, on Wednesday denied the allegation that it illegally repatriated 13.92 billion dollars from Nigeria, saying the claim was without merit.

“The allegations made against MTN are completely unfounded and without any merit,” MTN Nigeria Chief Executive Ferdi Moolman, said in a statement in Johannesburg.

Nigeria’s Senate agreed on Tuesday to investigate the allegation that MTN, Africa’s biggest telecoms company, illegally transferred the money out of Nigeria.

Senator Dino Melaye, who raised the motion, said the alleged illegal repatriation was allegedly facilitated by the Minister of Trade and Investment, Dr. Okechukwu Elenemah and involved Stanbic IBTC, Standard Chartered Bank, Citi Bank and Diamond Bank.

The allegation threatens to raise tensions between Nigeria and MTN just three months after the South African firm agreed to pay a reduced fine of N330 billion in a settlement over the hefty sanction it attracted over unregistered SIM cards. The settlement followed interventions by Presidents Muhammadu Buhari and Jacob Zuma .

The company had threatened to pull out of Nigeria during the dispute over unregistered SIM cards.

MTN is the largest mobile phone operator in Nigeria, which accounts for about one third of the company’s revenues.

Reuters reports that MTN shares fell more than three per cent on Tuesday, but opened one per cent firmer on Wednesday.

http://dailypost.ng/2016/09/28/mtn-denies-illegal-transfer-14bn-nigeria/

Re: MTN Denies Illegal Transfer Of $14bn From Nigeria by HungerBAD: 2:04pm On Sep 28, 2016
I don't believe MTN.

Dino is a loud mouth from Kogi who I dislike a lot,but on this I am in total agreement with him.

And if MTN wants to leave Nigeria,they should not forget to take their useless Sims with them.

Nigeria as a Country is even doing them a favor,by letting them still do business here.

MTN will never make the kind of money they make here anywhere in the world.

If Dino Maleye have any proof,this will be a good time to make it public.

27 Likes 2 Shares

Re: MTN Denies Illegal Transfer Of $14bn From Nigeria by Benjom(m): 2:10pm On Sep 28, 2016
We shall see the end of this.

1 Like 1 Share

Re: MTN Denies Illegal Transfer Of $14bn From Nigeria by stephnie1(f): 2:12pm On Sep 28, 2016
I can see that MTN has borrowed sense from Lai Mohammed

1 Like

Re: MTN Denies Illegal Transfer Of $14bn From Nigeria by OsusuMustFlow(f): 2:43pm On Sep 28, 2016
ok
Re: MTN Denies Illegal Transfer Of $14bn From Nigeria by Sharon6(f): 3:11pm On Sep 28, 2016
OK o
Re: MTN Denies Illegal Transfer Of $14bn From Nigeria by omoikea(m): 3:12pm On Sep 28, 2016
please i don't understand...
Re: MTN Denies Illegal Transfer Of $14bn From Nigeria by sammyj: 3:12pm On Sep 28, 2016
The Senate especially Melaye should be careful not to run this company down in order to save the job of the Nigerians working for this firm!!! angry

6 Likes

Re: MTN Denies Illegal Transfer Of $14bn From Nigeria by Nobody: 3:13pm On Sep 28, 2016
undecided
Re: MTN Denies Illegal Transfer Of $14bn From Nigeria by ricsman(m): 3:13pm On Sep 28, 2016
who no dey deny after been caught

3 Likes

Re: MTN Denies Illegal Transfer Of $14bn From Nigeria by Brymo: 3:14pm On Sep 28, 2016
claims
Re: MTN Denies Illegal Transfer Of $14bn From Nigeria by Edwardhead(m): 3:14pm On Sep 28, 2016
grin grin grin
Re: MTN Denies Illegal Transfer Of $14bn From Nigeria by SEOManiac: 3:14pm On Sep 28, 2016
It's hard to tell which side is saying the truth. That's the nation we have now found ourselves in.


Do you need an article write/content creator? send a PM

Re: MTN Denies Illegal Transfer Of $14bn From Nigeria by BarryX(m): 3:17pm On Sep 28, 2016
I think Dino Melaye was just being unusually petty and loud-mouthed.

He should be slapped with court case of some sort.
MTN shares are currently on a free fall cos of this.

1 Like 1 Share

Re: MTN Denies Illegal Transfer Of $14bn From Nigeria by Freelancer007(m): 3:18pm On Sep 28, 2016
Hmnnn, MTN
Re: MTN Denies Illegal Transfer Of $14bn From Nigeria by Mandynews(f): 3:18pm On Sep 28, 2016
Hmmm, MTN Ok we hear
Re: MTN Denies Illegal Transfer Of $14bn From Nigeria by tofolo(m): 3:19pm On Sep 28, 2016
I agree with you too, better still lets just nationalise them.
HungerBAD:
I don't believe MTN.

Dino is a loud mouth from Kogi who I dislike a lot,but on this I am in total agreement with him.

And if MTN wants to leave Nigeria,they should not forget to take their useless Sims with them.

Nigeria as a Country is even doing them a favor,by letting them still do business here.

MTN will never make the kind of money they make here anywhere in the world.

If Dino Maleye have any proof,this will be a good time to make it public.

1 Like

Re: MTN Denies Illegal Transfer Of $14bn From Nigeria by kittykollinxx(m): 3:19pm On Sep 28, 2016
MTN: fraud everywhere you go

1 Like

Re: MTN Denies Illegal Transfer Of $14bn From Nigeria by mayorkyzo: 3:19pm On Sep 28, 2016
Pls an economist should enlighten me..
If I open a business in a foreign country am I not allowed to repatriate funds to my home country??

7 Likes 1 Share

Re: MTN Denies Illegal Transfer Of $14bn From Nigeria by rikamann: 3:22pm On Sep 28, 2016
Very wrong of MTN to do that if true, that is sabotaging the economy
Re: MTN Denies Illegal Transfer Of $14bn From Nigeria by AZeD1(m): 3:22pm On Sep 28, 2016
HungerBAD:
I don't believe MTN.

Dino is a loud mouth from Kogi who I dislike a lot,but on this I am in total agreement with him.

And if MTN wants to leave Nigeria,they should not forget to take their useless Sims with them.

Nigeria as a Country is even doing them a favor,by letting them still do business here.

MTN will never make the kind of money they make here anywhere in the world.

If Dino Maleye have any proof,this will be a good time to make it public.
The issue right now is bigger than MTN, it concerns all foreign companies currently operating in Nigeria and those that have plans of opening offices.
Are there laws in Nigeria that prevent repatriation of funds?

5 Likes

Re: MTN Denies Illegal Transfer Of $14bn From Nigeria by MrBONE2(m): 3:26pm On Sep 28, 2016
mayorkyzo:
Pls an economist should enlighten me..
If I open a business in a foreign country am I not allowed to repatriate funds to my home country??
EHHHMMM since it's your money ,it is allowed. grin

2 Likes

Re: MTN Denies Illegal Transfer Of $14bn From Nigeria by Jeel: 3:26pm On Sep 28, 2016
k
Re: MTN Denies Illegal Transfer Of $14bn From Nigeria by tiwiex(m): 3:27pm On Sep 28, 2016
I don't think we get the implication of all this govt vs private sector battles. It does not help the economy in any way. We keep treating the private sector like enemies of the state and the people. How many of us have direct or indirect opportunities with MTN. Plennnnty. Diesel supply, procurement and direct jobs. No new player will come in with all this media trial and our country will get worse. Something tells me the story might be true. But guess what? After fining them that kind money, i would lose confidence in the system and play safe. It is possible, but we caused it. This government has economic myopia abi wetin Soludo call am? Policy myopia. Stop joining them folks. How does MTN or any other company leaving Nigeria affect me and you positively

4 Likes 1 Share

Re: MTN Denies Illegal Transfer Of $14bn From Nigeria by PunterTim(m): 3:28pm On Sep 28, 2016
mayorkyzo:
Pls an economist should enlighten me..
If I open a business in a foreign country am I not allowed to repatriate funds to my home country??
Only if you do it illegally!

2 Likes

Re: MTN Denies Illegal Transfer Of $14bn From Nigeria by centmichael101(m): 3:28pm On Sep 28, 2016

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