Business

‘Nigeria seeks 15 percent interest from MTN on $8.1 billion moved abroad’

Isaac UmunnaComment(0)

Nigeria’s central bank is asking a Lagos court to make South Africa’s MTN pay 15 percent annual interest on the $8.1 billion it claims was illegally moved abroad, according to court documents seen by Reuters.

The bank also asked the court to dismiss MTN’s case seeking to stop the monetary authority’s order for the telecoms firm to repatriate the funds back to Nigeria, the documents showed. Reuters

Isaac Umunna

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