Trade Minister Denies Involvement In $14b MTN Illegal Transfer

Nigeria’s minister for industry, trade and investment Okechukwu Enelamah, said on Thursday claim that he was involved in an alleged illegal repatriation of $13.92 billion from the country by telecoms giant MTN are “without merit and baseless”.

Nigeria’s parliament agreed on Tuesday to investigate whether Africa’s biggest telecoms company illegally transferred the money between 2006 and 2016. The motion that prompted the investigation stated that Okechukwu Enelamah was involved.
MTN has denied the allegations which were made earlier this week in a motion brought by a senator, Dino Melaye MTN Nigeria is seemingly stuck with bad luck in Nigeria. It’s like every time the company solves one problem, two more show up.
First was the whole NCC fine drama, then the Copyright Society of Nigeria (COSON) filed a N16 billion copyright lawsuit against it, and now, the latest is that the Nigerian Senate is conducting an investigation into allegations of MTN illegally transferring $12 billion out of Nigeria over a 10-year period. Popular playboy Senator Dino Melaye first made the allegation on Thursday last week at the senate, requesting permission to further pursue the matter.
In his words, “MTN Nigeria paid a sum of $284.9 million on the 6th of February, 2001, to purchase their licence of operations in this country. Between 2006 and 2016, through four Nigerian Banks and a serving minister of the Federal Republic of Nigeria, MTN moved over $12 billion out of Nigeria. That is about half of our external reserves. If I get the nod of the Senate I will want to bring a substantive motion on the next legislative day with substantiated facts to buttress this position.”

Author: NewsAdmin

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