MTN and four banks to meet Nigerian central bank chief today
Godwin Emefiele has already said new information could ‘substantially’ reduce the country's $8bn claim against the cellphone company
Nigeria’s central bank governor, Godwin Emefiele, will meet MTN and four banks on Tuesday amid a dispute over $8.1bn that the central bank said was transferred illegally out of the country, two people familiar with the situation said. The people declined to be identified because the information has not been made public. Lagos-based Business Day reported the meeting earlier. Speaking to reporters in London on Sunday, Emefiele said MTN and its bankers had provided more documents that may reduce Nigeria’s $8.1bn claim on the South African mobile phone network, which could be resolved soon. The Nigerian central bank alleged in late August that MTN and four banks — Standard Chartered, Citigroup, Stanbic IBTC and Diamond Bank — illegally repatriated money from Nigeria and that the company should return $8.1bn. The local regulator also fined the four banks a combined $16m. Emefiele said he expected that the new information would help cut the size of the claim and that the matter would be ...
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