Thursday, 13 October 2016

$13.9billion transfer: Senate summons MTN, banks


The Senate has summoned the management of MTN Limited, their bankers and some businessmen over alleged violation of the Foreign Exchange (Monitoring and Miscellaneous) Act.

They are to appear before the Senate Committee on Banking, Insurance and Other Financial Institutions next week.

The Senate had begun a probe into the allegation that MTN repatriated a total sum of $13.9bn from Nigeria to other countries between 2006 and 2016.

More details later...

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