As MTN grapples with demands from Nigerian authorities worth as much as $10.1bn, many analysts insist that ulterior motives are at work behind the scenes. While it’s possible that regulators are acting in good faith and MTN has something to answer for, analysts say the Nigerian government is shooting itself in the foot by causing serious financial harm to one of the country’s biggest companies. One theory is that Nigeria is retaliating after SA authorities recently detained a Russian ship bound for the West African state. The ship was carrying illegal mining explosives, according to the Hawks. Other commentators claim that the Nigerian government is desperate for foreign exchange and that funds are needed to bolster the fiscus ahead of February 2019 elections. Nigerian media houses say some people may have a financial interest in MTN’s pain, since it’s customary for law firms and "whistle-blowers" to take cuts of successful fines there. Another analyst says a hostile takeover of MTN...
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