OHANNESBURG Oct 24 (Reuters) – South African mobile phone operator MTN Group has suspended dividend payouts from its Nigerian unit, it said on Monday, amid allegations that it illegally moved $14 billion out of the west African country.
“MTN Nigeria continues to refute the allegations that MTN Nigeria had improperly repatriated funds from Nigeria,” it said in its quarterly update.
Nigeria’s upper house of parliament last month agreed to investigate whether Africa’s biggest telecoms company unlawfully repatriated $13.92 billion between 2006 and 2016.
The Johannesburg-based company reported a slight fall in the number of users in the third quarter due to a weaker showing in a fiercely competitive home market, where it vies for market share with Vodacom and Cell C.
(Reporting by Tiisetso Motsoeneng; Editing by Susan Fenton)
THE ROTTEN FISH: CAN OF WORMS OPENED OF APC & TINUBU'S GOVERNMENT OVER NIGERIA'S ECONOMIC DOWNTURN
WATCH THE CRITICAL ANALYSIS AND KNOW THE RESPONSIBLE PARTIES TO BLAME FOR NIGERIA'S ECONOMIC CHALLENGES, WHILE CITIZENS ENDURE SEVERE HARDSHIPS.Watch this episode of ISSUES IN THE NEWS on 9News Nigeria featuring Peter Obi's Special Adviser, Dr Katch Ononuju, 9News Nigeria Publisher, Obinna Ejianya and Tinubu Support Group Leader, McHezekiah Eherechi
The economic crisis and hardship in Nigeria are parts of the discussion.
Watch, leave your comments, and share to create more awareness on this issue.
#9NewsNigeria #Nigeria #issuesInTheNews #politics #tinubu THE ROTTEN FISH: CAN OF WORMS OPENED ...
DON'T FORGET TO SUBSCRIBE AND LEAVE YOUR COMMENTS FOR SUBSEQUENT UPDATES
#9newsnigeria #economia #economy #nigeria #government @9newsng
www.9newsng.com