MTN, Uganda in bitter quarrel President Yoweri Museveni of Uganda is at a crossroads following the falling out between the country’s biggest telecom, MTN and authorities. Uganda, last Thursday arrested and deported of the company’s chief executive, Belgian national Wim Vanhelleputte. The president has to juggle between...

$8.1bn Fund Transfer Deal Struck By CBN, MTN   MTN Group Limited is close to securing a deal with the Central Bank of Nigeria over an order to repay $8.1bn it is alleged to have illegally taken out of the country, according to a person familiar...

Emefiele To Meet Banks, MTN Over $8.1bn Repatriated Funds Dispute   The Governor of the Central Bank of Nigeria, Godwin Emefiele, will meet with the representatives of telecommunications company, MTN, and four banks on Tuesday to discuss the lingering dispute over the repatriation of $8.1bn, two...

CBN Demands 15% Interest On $8.1bn MTN Refunds   The Central Bank of Nigeria has asked the court not to grant an injunction that will stop the MTN Group from transferring the disputed $8.1bn back to the country, and wants the company to pay 15 per...

CBN, MTN and 4 Banks: What Lessons? By Adigun Olabiyi The furore generated so far on the $8.1bn and N5.87bn sanction by the Central Bank of Nigeria (CBN) on MTN Nigeria and four banks has been one of mixed grill, laced with sentiments depending on which...

FDI: CBN Allays Fear over Forex Sanctions The Central Bank of Nigeria (CBN) acknowledges the public interest over sanctions recently imposed on four deposit money banks (DMBs). We wish to restate that the CBN will continue to welcome foreign direct investments(FDI) and investors. Indeed, some...