In December of the same year, MTN agreed to make an almost $53 million payment to resolve the dispute. In August 2018, the Central Bank of Nigeria (CBN) demanded MTN repatriate $8.1 billion (R117 billion) to Nigeria, which the bank said the company had sent abroad in breach of foreign exchange regulations. The attorney-general’s decision will come as a relief to the company, which has had long-running battles with Nigerian authorities on a myriad of issues. It said: “MTN remains committed to building and maintaining cordial relationships with all regulatory authorities in Nigeria.” “Accordingly, the attorney-general has withdrawn its letter of demand for the aforementioned USD2 billion that was issued in August 2018,” it said.Īfrica’s leading carrier said it will consequently follow due court process to withdraw its legal action and engage with FIRS and NC on the issue. MTN unveils launch date for mobile money in SA
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