Court case between MTN and Nigeria’s central bank postponed

PUBLISHED: Tue, 30 Oct 2018 13:55:14 GMT

LAGOS (Reuters) – A Lagos judge adjourned a hearing on Tuesday in a $10.1-billion dispute between South African telecoms firm MTN Group and Nigeria’s central bank to Dec 4.

The central bank alleges the firm illegally sent $8.1 billion abroad, and the Nigerian government has demanded $2 billion in taxes from MTN.

MTN, which makes about a third of its annual core profit in Nigeria, has said the allegations are without merit.

Reporting by Chijioke Ohuocha and Didi Akinyelure; Writing by Paul Carsten; editing by John Stonestreet

Sign Up for Our Newsletter Daily Update
Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.