Post Views: 162 Governor of the Central Bank of Nigeria (CBN) governor is to meet representatives of telecommunications giant MTN and banks on Tuesday...
Governor of the Central Bank of Nigeria (CBN) governor is to meet representatives of telecommunications giant MTN and banks on Tuesday to discuss a dispute over the repatriation of $8.1bn, two sources with direct knowledge of the matter told Reuters.
The dispute is over the transfer of $8.1bn of funds which the CBN said the company had sent abroad in breach of foreign-exchange regulations.
The people with knowledge of the matter, who did not want to be named, said executives from MTN and the four lenders involved in the case – Standard Chartered, Stanbic IBTC Bank , Citibank and Diamond Bank – would hold talks with CBN, Emefiele said on Tuesday.
The move comes days after Emefiele said the bank may reduce the amount to be repatriated.
Nigeria, which accounts for a third of the South African company’s annual core profit, is MTN’s biggest market.