South African telecoms firm, MTN Group and Nigeria’s Central Bank are in talks to settle an $8.1 billion dispute, their lawyers said on Tuesday, as a court in Lagos adjourned the case between the parties until Dec. 12.

The dispute is over the transfer of $8.1 billion of funds which Nigeria’s central bank said the company had sent abroad in breach of foreign-exchange regulations. MTN has denied any wrongdoing, Reuters reports.

Nigeria is MTN’s biggest market, accounting for a third of the South African company’s annual core profit. The mobile phone network serves 56 million people in Nigeria.

Seyi Sowemino, a lawyer representing Nigeria’s central bank, said the parties were in advanced stages towards the settlement. “We just want to cross T’s and dot I’s,” he told the court.

Wole Olanipekun, a lawyer representing MTN, also said the two parties were in talks.

The lawyers requested a short adjournment for lawyers to report back to the court on the settlement talks. The judge adjourned the case to Dec. 12.

https://www.akelicious.net/2018/12/mtn-cbn-in-talks-to-settle-81-billion.html

Buhari govt keeps proving they are learners in everything , both fines have done 10 times far more damage to the Nigerian economy than than the worth of the fines and the painfully part is that they never collect the full value of the fine...

First fine = 5 billion dollars

Estimated cost to Nigerian Economy = 60 billion dollars


Eventual fine paid : 350 million dollars

Second Fine : 8 billion dollars

Estimated cost to the Nigerian economy =20 billion dollars


Eventual fine paid = ZERO!!!


Buhari is a Rètard!!!!

The reason we still hear of this stale news is because 1 Party has refused to compromise fully. Else this would be history.

Simple
Buhari : MTN fund my campaign come next year
MTN: yes sir.
Buhari: Come here son, your sins are forgiven. Why didn't you say this since?

6

MTN scamming Nigeria and Nigerians since Obasanjo administration invited them into the country.

Out of court settlement loading

Good

Mynd44 this topic is already in FP now

Some thing wey dem don already settle on code

again

Nbote:
Some thing wey dem don already settle on code

lol. Your head dey dia joo. All we're seeing is formality. Dem don settle codedly.

ok

What’s is actually going on?? They have been settling this issue for the last many years..

I hope they are not settling for sharp practices on the side of the Nigerian delegation!! Thy are always known to take and share bribes!!

See Block!

There should be free repatration of money from the country

This anti business policies of PMB are making investors flee!

But the foolish ambassador of the US and some demented ipob YOOts said MTN did nothing wrong?

[s]

FarahAideed:
Buhari govt keeps proving they are learners in everything , both fines have done 10 times far more damage to the Nigerian economy than than the worth of the fines and the painfully part is that they never collect the full value of the fine...

First fine = 5 billion dollars

Estimated cost to Nigerian Economy = 60 billion dollars


Eventual fine paid : 350 million dollars

Second Fine : 8 billion dollars

Estimated cost to the Nigerian economy =20 billion dollars


Eventual fine paid = ZERO!!!


Buhari is a Rètard!!!!

[/s]

Someone that thinks PMB is a clone cannot have the intellect to understand bigger issues like the economy and how rule of law is important to maintaining confidence in it.

Stalwert:
[s][/s]

Someone that thinks PMB is a clone cannot have the intellect to understand bigger issues like the economy and how rule of law is important to maintaining confidence in it.

Where have you ever seen me contribute anything to Buhari Jibril Junk.... For your information I maintain the person in ask rock is Buhari because the the poor economic decision are the same today like the idiot did in the 80s when he overthrew Shagari ..

Nobody can tell me this Rètard below can solve anything in life

https://www.youtube.com/watch?v=n1Y18fwd7Tw&feature=youtu.be