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Senate to probe MTN for ‘moving out’ $12bn from the economy

Senate to probe MTN for ‘moving out’ $12bn from the economy
September 23
00:38 2016
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The senate has decided to investigate MTN Nigeria for allegedly taking out $12 billion from the country’s economy within 10 years.

The senate took the decision after Dino Melaye, lawmaker representing Kogi west senatorial district, moved a motion at plenary on Thursday.

While moving the motion, Melaye alleged that between 2006 and 2016, MTN used four Nigerian banks and a then serving minister to move the said sum out of the country.

“My respected colleagues, MTN Nigeria paid a sum of $284.9 million on the 6th of February, 2001 to purchase their licence of operations in this country,” he said.

“Between 2006 and 2016, through four Nigerian banks and a serving minister of the Federal Republic of Nigeria, MTN moved over $12 billion out of Nigeria. That is about half of our external reserves.

“If I get the nod of the senate I will want to bring a substantive motion on the next legislative day with substantiated facts to buttress this position.”

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1 Comment

  1. Godde
    Godde September 26, 04:39

    You Ve nothing to do 4 d Nation. What’s your bizz if an investor transfers his capital? With forex fluctuations who would wants his investment depreciates. Pull out at the right time is economic success jargon.
    We would welcome a quick reversal of your bogus salary that is highest on this planet. That’s open robbery to our National Cake. Nothing for the unemployed Adults that bear the same economic burden as yourselves. We are also equal b4 our Constitution.

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