MTN Sues CBN And Attorney General Of The Federation Over $8.1 Billions Funds - 9jaflaver

WELCOME TO 9JAFLAVER

NEWS  |  SPORTS  |  CELEBRITY GIST  |  MIXTAPE  |  COMEDY VIDEOS  |  JOKES  |  TECH  |  FASHION


PROMOTE MUSIC | ADVERTISE | SUBMIT FREEBEAT


Search anything below

ads7

MTN Sues CBN And Attorney General Of The Federation Over $8.1 Billions Funds

Telecommunications firm, MTN Communications Limited has taken the Central Bank of Nigeria (CBN) and the office of the Attorney General of the Federation (AGF) to court.

The move according to the firm was in order to protect MTN Nigeria’s assets and shareholders’ rights within the confines of Nigerian law. The firm will, however, continue to dialogue with the relevant authorities.

Here is the statement as sent by the company:

Further announcement regarding Central Bank of Nigeria (CBN) and the Attorney General of the Federal Republic of Nigeria (AGF) matters and renewal of cautionary announcement.

As previously disclosed the CBN has alleged improper dividend repatriations by MTN Nigeria Communications Limited (MTN Nigeria) and requested that $8.1 billion be returned “to the coffers of the CBN” whilst the AGF has alleged unpaid taxes on foreign payments and imports and that approximately $2.0 billion in relation to these taxes be paid to the Federal Government of Nigeria (and now directed that the payment of the $8.1 billion is dealt with through his office rather than as directed by the CBN).

MTN Nigeria has denied these allegations and claims. Furthermore, four commercial banks were issued fines in respect of the administration of the CCI and irregular dividend repatriation matter and requested to return, in aggregate, the same $8. 1 billion.

In order to protect MTN Nigeria’s assets and shareholder rights within the confines of Nigerian law, we have applied today in the Federal High Court of Nigeria for injunctive relief restraining the CBN and the AGF from taking further action in respect of their orders, while we continue to engage with the relevant authorities on these matters.

We remain resolute that MTN Nigeria has not committed any offences and will continue to vigorously defend its position.

We will provide further information as and when available. Shareholders are accordingly advised to continue to exercise caution when dealing in the Company’s securities until a further announcement is made.



Click Here To Comment On This Post

Promote Your Music, Video, Comedy Skit Here On 9jaflaver

Call Only:- +2348173379226 or +2348143945195


SPONSORED LINKS


TRENDING SONGS OF THE WEEK


» DMW - AZA Ft Davido, Peruzzi, And Duncan Mighty




» Mayorkun – Posh




» T Classic Ft Mayorkun – Fall In Love




» King Perryy – Eastern Baby




» Waje Ft Timaya – Kpolongo


.




DOWNLOAD ALSO


» Chidaddy – Uchechukwu





» Ommie – Change Ft T West




» Rankfiizy Ft Eflex – Dagbana




» Til Knight Ft Tha Suspect – Yansh




» Roseberry – Get Doe




» Skyt – Pray 4 Kogi State




» Feline Ft Coinx – Am A Boss





» Superstar Jaxxxtown – What Say’s You




» Kingstyle – Feeling




» Feline – Without




» Osam – Ohema




» Silver Willi – Wale




» Terry Grandee – So Sick


.

🎵 Want Latest Nigerian Songs? Click HERE



Comment Below:-

Enter Name Below (Optional)

          Enter Comment Below:-




© 2014-2018 9jaflaver. All Rights Reserved.

About us||Content Remova||Privacy Policy|Contact us

Advertis|Request For Music

9jaflaver is not responsible for the content of external sites.