MTN denies illegal transfer of $14 billion from Nigeria
South Africa's MTN (MTNJ.J) on Wednesday denied allegations it illegally repatriated $13.92 billion (£10.72 billion) from Nigeria, the latest setback for the telecoms firm in its biggest but increasingly problematic market.
The upper house of Nigeria's parliament agreed on Tuesday to investigate whether Africa's biggest telecoms company illegally transferred the money out of the West African country between 2006 and 2016.
"The allegations made against MTN are completely unfounded and without any merit," MTN Nigeria Chief Executive Ferdi Moolman said in a statement. MTN shares fell... read more
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