MTN to fight $8.1-billion Nigeria demand in High Court

MTN has announced that it will seek relief from the Nigeria High Court against the Central Bank of Nigeria (CBN) and the Attorney General of Nigeria.

The Nigerian branch of the mobile operator has applied to the Federal High Court of Nigeria for injunctive relief from the parties.

The CBN has stated that $8.1 billion be returned by MTN to its coffers after alleging improper dividend repatriations by MTN Nigeria. The Attorney General has also demanded $2 billion in back taxes on foreign imports.

MTN Nigeria said it strongly denies these allegations and claims, and will protect its assets and shareholder rights.

“We believe that we have complied with all relevant laws, and in light of that, and the conflicting instructions from different organs of state, we have had no choice but to seek relief from the courts in Nigeria,” said MTN Group CEO Rob Shuter.

“We remain firmly committed to the Nigerian market and will continue to engage with the authorities on these matters.”

MTN said it will continue to vigorously defend its position and stated that it complies with all relevant laws and regulations, contrary to the allegations of Nigerian authorities.

Now read: More huge problems for MTN – Nigeria demands $2 billion in back taxes

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MTN to fight $8.1-billion Nigeria demand in High Court