MTN vs CBN, AGF: Court Begins Hearing on Dec 4

The legal tussle between telecom giant, MTN Nigeria and the Central Bank of Nigeria (CBN) over alleged illegal repatriation of $8.1bn by the telecom company will continue at a Federal High Court in Lagos, on Dec. 4.
The court fixed the date Tuesday after the case was called up. The court is to begin hearing in the dispute between the duo.
Justice Saliu Saidu also adjourned till Nov. 8, hearing in a case of alleged $2bn tax non-payment made against MTN Nigeria by the Attorney-General of the Federation (AGF).
MTN filed the suits, seeking an injunction to restrain the CBN and AGF from taking further actions to reclaim the alleged debts.
The CBN alleged that the firm improperly repatriated dividends. The apex bank requested that MTN should return $8.1bn to its coffers.
On the other hand, the AGF claimed that MTN did not pay taxes on foreign payments and imports of approximately $2bm. It demanded that the company should pay the sum. MTN, however, denied the allegations.
The court that on Dec. 4, it will hear an interlocutory application by the MTN seeking to retrain the CBN from taking steps to reclaim the alleged debt.
The court will also hear an application by the CBN challenging the jurisdiction of the court to entertain the case. Chief Wole Olanipekun (SAN) appeared for the MTN while Seyi Sowemimo (SAN) appeared for CBN.

Author: News Editor

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