There is hope for a truce in the Central Bank of Nigeria (CBN)-MTN Nigeria face-off.
Telecoms sector regulator Nigerian Communications Commission (NCC) is to broker peace between the two.
The CBN has ordered the mobile giant to refund $8.1billion allegedly repatriated from the country.
Besides, the Attorney General of the Federation has demanded the payment of $2billion alleged to be unpaid taxes over a 10-year period, allegations the telco has consistently rejected.
MTN Nigeria claimed that due process was followed in the transaction concerning Certificate of Capital Importation (CCI), insisting that it has remained a good corporate citizen by paying its taxes. It has however approached the High Court to seek restraining injunctions against its two accusers .
Dismissing insinuation among South Africans that the Federal Government is out to appropriate MTN Nigeria’s assets, the Executive Vice Chairman, NCC, Prof Garba Umar Dambatta, yesterday in Durban, South Africa, assured the investment community that there was no such plan, adding that steps have been taken to reach an amicable settlement of the matter.
South African reporters had raised fears about the development as being capable of keeping potential investors at bay.
Prof Dambatta said though the regulatory functions of the NCC have been spelt out by its enabling Act, just as that of the CBN and the Federal Inland Revenue Services (FIRS), he said the Commission has stepped in, adding that an amicable resolution would soon be reached. Read more<<<<<
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