Update: Nigeria’s attorney general to accept MTN Nigeria deal – sources

MTN

There are latest indications that Nigeria’s attorney general, Mr. Abubakar Malami, must have okayed MTN Nigeria’s deal in the $8.2 billion illegal transfer sanction.

Earlier, today, media reports suggested that MTN Nigeria has now opted to settle out of court with the Central Bank of Nigeria.

It would be recalled that MTN Nigeria was accused by the Central Bank of Nigeria, CBN, of allegedly transferring about $8.1 billion out of its Nigerian account to its headquarters without the necessary regulatory approvals.

While MTN had since denied the allegations and calling it baseless, it went ahead to sue the CBN to prevent the apex bank from debiting its bank accounts of the disputed amount.

The next few days could see a resolution to the lingering dispute between the country’s largest mobile carrier and the government.