Nigeria In One Minute
MTN Faces More Questions over $8.134 Billion Remittances
As the fines imposed on four banks by the Central Bank of Nigeria (CBN) and its directive to MTN Nigeria to refund a total of $8.134 billion illegal capital repatriation continues to generate concerns, the Central Bank is being advised to properly investigate MTN payments and to look deeper into the telecoms company operations.
A former Senior Executive at MTN Nigeria, who spoke with THISDAY on condition of anonymity, because of the non-disclosure and non- compete clauses of his termination benefits, claims “there was a lot more with the payments than the MTN and banks want us to believe calling for a forensic audit” that would uncover much more.
He also chided the financial institutions involved in the matter over what he described as their failure to adhere to the Know-Your-Customers (KYC) policy of the apex bank.
THISDAY, September 3, 2018
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