Nigerian Senate call MTN, trade minister to hearing over alleged illegal transfer of $14 bln

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LAGOS (Reuters) – Nigerian lawmakers invited South Africa’s MTN, Nigeria’s trade minister and four lenders to appear at an “investigate hearing” on Oct. 20 over the alleged illegal transfer of $14 billion out of the country.

The four lenders invited to appear before a senate committee on banking, insurance and other financial institutions were Stanbic IBTC Bank, Standard Chartered Bank, Citibank and Diamond Bank, the senate committee chairman said in a statement on Thursday.

MTN and Nigeria’s Trade Minister Okechukwu Elenemah have denied any wrongdoing.

Citi and Diamond Bank declined to comment on Thursday. A spokesman for Stanbic was unavailable and Standard Chartered said it would cooperate fully with law enforcement agencies.

(Reporting by Chijioke Ohuocha; Editing by Susan Fenton)


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