Your SEO optimized title

Emefiele says CBN may cut MTN’s $8.1bn repatriation demand

0

The Central Bank of Nigeria may reduce the amount it has ordered MTN Nigeria to repatriate, the CBN Governor, Godwin Emefiele, said on Sunday.

While addressing reporters in London on Sunday, Emefiele said new documents provided by the telecom company would help to reduce the size of the claim.

Reuters reported that Emefiele said during a visit to London, “I don’t think it will be staying at $8.1bn,”adding that he expected the issue to be dealt with amicably and equitably.

“I want to believe that the figure will reduce. Whether it will be dropped completely, I honestly cannot say at this time,” he added.

Emefiele said the central bank had received documents about two weeks ago from MTN and four lenders involved in the case – Standard Chartered, Stanbic IBTC Bank, Citibank and Diamond Bank –and was in communication with all parties involved.

“The central bank will be examining these, then it will be escalated up to my level,” he said, adding that he expected to get the results in a couple of weeks.

The two sides are locked in a court dispute over the transaction as the CBN filed a counter-claim on Friday to a court request by MTN, which is seeking to stop the bank from forcing it to bring back the money.

The apex bank also asked the Johannesburg-based mobile phone company to pay 15 per cent annualised interest on the sum until the court could give a judgment, and 10 per cent from then until the whole amount would be paid.

Share.

Leave A Reply