$8.1bn fine: MTN opts for out-of-court settlement with CBN


$8.1bn fine: MTN opts for out-of-court settlement with CBN

Telecommunications firm, MTN Nigeria Communications Limited, on Tuesday, asked the Federal High Court in Lagos to further adjourn the hearing in the suit it filed to challenge the $8,134,312,397.63 being demanded from it by the Central Bank of Nigeria (CBN).

The $1.8bn demand by the CBN followed alleged forex remittances infraction by MTN.

The position was confirmed by CBN’s lead counsel, Mr Seyi Sowemimo (SAN), who added that the discussions for possible out-of-court settlement were in the advanced stage.

Share this post

No comments

Add yours