HomeBusinessSenate Summons MTN Again Over $13.9bn Transfer

Senate Summons MTN Again Over $13.9bn Transfer

By Darlington Davis

October 13, 2016

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The Senate today (Thursday) summoned the Management of MTN Limited, their bankers and some businessmen over alleged violation of the Foreign Exchange (Monitoring and Miscellaneous) Act.

They are to appear before the Senate Committee on Banking, Insurance and Other Financial Institutions next week.
The Senate had begun a probe into the allegation that MTN repatriated a total sum of $13.9bn from Nigeria to other countries between 2006 and 2016.

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