MTN chief still bullish on resolving Nigeria claim - Mobile World Live

MTN chief still bullish on resolving Nigeria claim

14 NOV 2018

MTN Group CEO Rob Shuter expressed confidence the company can reach an out-of-court settlement with Nigerian authorities over claims it owes the country a total of $10.1 billion.

Shuter told South African publication Fin24 MTN is making progress with a two-pronged strategy to resolve its troubles in the country, with the operator exploring legal options while simultaneously continuing talks with Nigeria’s Central Bank to reach an amicable solution.

Nigeria is MTN’s largest international market: the country accused the operator of illegally taking $8.1 billion from the country and also hit it with a claim for $2 billion in back taxes.

While the financial claims had cast doubt over MTN’s future in Nigeria, the company last month reiterated its commitment to the country and still intends to conduct an IPO of its business there.

Fin24 stated Shuter’s latest comments indicate the two sides could be close to agreeing a settlement.

MTN is due in court regarding the back taxes claim at the start of next month.

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Kavit Majithia

Kavit joined Mobile World Live in May 2015 as Content Editor. He started his journalism career at the Press Association before joining Euromoney’s graduate scheme in April 2010. Read More >>

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