Embattled telecom operator, MTN Nigeria, has faulted the Attorney General of the Federation, AGF, on the $2 billion tax debt which he alleged the telco owed the Federal Government, saying AGF’s calculations were wrong. The telco, yesterday, said that the Attorney General had notified it that his office made a high-level calculation and arrived at […]
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Nigeria has struck South Africa’s top mobile operator, MTN, with a back taxes of $2 billion just days after the government ordered it to repatriate $8.13 billion, the company said on Tuesday. MTN gave a brief statement to the market in which it confirmed that Nigeria’s attorney general gave “notice of an intention to recover […]
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Nigeria’s decision to order South African telecoms giant MTN to repay billions of dollars that it had allegedly illegally repatriated over a period of eight years could sour investor sentiment towards the country as it still struggles to recover from a deep recession two years ago, analysts say. In a shock announcement last Wednesday, the […]
Read More MTN Nigeria on Wednesday signed a seven-year ₦200 billion medium-term loan facility with a consortium of 12 banks, with FBN Quest acting as the facility agent. The telecommunication company said the credit facility would allow it to fund its capital expenditure, roll out infrastructure and extend its reach to rural communities. According to the company, […]
Read More The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta, has said that MTN must list on Nigerian Stock Exchange on or before May 2019 as contained in the agreement over the 2015 fine settlement between it and the telecom company. Speaking in an interactive session with newsmen in his office […]
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The Federal Executive Council, presided over by President Muhammadu Buhari, on Wednesday approved the payment of N500m to the lawyers who worked for the recovery of N330bn fine imposed on MTN Nigeria Limited. The Attorney-General of the Federation, Abubakar Malami, said this while briefing State House correspondents on the outcome of the meeting at the […]
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Nigeria’s largest telecommunication company, MTN Nigeria, may sell some 30 per cent of its ordinary shares to Nigerian retail investors under its much-awaited initial public offering (IPO). Sources in the know of the arrangements for the IPO indicated that MTN Nigeria could sell as much as 30 per cent of its share capital to the […]
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