• MTN’s repatriated $13.9bn can pull Nigeria out of recession, says Saraki

    MTN’s repatriated $13.9bn can pull Nigeria out of recession, says Saraki

    According to reports, the President of the Senate, Dr Bukola Saraki said on Thursday that the $13.9bn allegedly repatriated by MTN Nigeria was enough to pull the country out of recession.

    Saraki disclosed this while opening the legislative hearing on the alleged repatriation of the funds by MTN, nation’s giant telecoms provider, in connivance with some Nigerian banks and individuals.

    The investigative hearing is being conducted by the Senate Committee on Banking, Insurance and Other Financial Institutions.

    The President of the Senate, who […]

  • Senate summons MTN, banks over $13.9bn illegal repatriation

    Senate summons MTN, banks over $13.9bn illegal repatriation

    According to reports, the Senate has launched a probe into the allegation that MTN Nigeria repatriated a total sum of $13.9bn from Nigeria to other countries between 2006 and 2016 by summoning the management of the telecoms service provider, their bankers and some businessmen over alleged violation of the Foreign Exchange (Monitoring and Miscellaneous) Act.

    During its plenary on Thursday, the Upper Chamber requested MTN and the others to appear before its Committee on Banking, Insurance and Other Financial Institutions next […]