[Published: Wednesday September 28 2016]
Telecom giant denies transferring money from Nigeria
Pretoria 28 Sep (ANA) - South Africa's telecom giant MTN has denied allegations by Nigeria's lawmakers that it repatriated millions of dollars to South Africa, the Reuters news agency reports. In a statement it says that “the allegations made against MTN are completely unfounded and without any merit,” the report says. We reported yesterday that lawmakers in Nigeria's upper house of parliament had decided to investigate an allegation that the company illegally transferred nearly $14bn (£11bn) out of the country between 2006 and 2016. With 62 million subscribers, Nigeria is the company's biggest market. The investigation comes just three months after MTN agreed to pay a reduced fine of about $1bn in a settlement with the Nigerian government over unregistered Sim cards.(ANA)
FA/ANA/28 September 2016-------
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