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Central bank announces truce with MTN

The Central Bank of Nigeria has announced the resolution of its dispute with MTN Communications Limited, saying the company will now atone only for the illegal remittances on preference shares issued in 2008.
FILE PHOTO- An MTN starter kit pack on display at a retail stand in Abuja, Nigeria November 17, 2015. REUTERS-Afolabi Sotunde-File Photo

Central bank promises ‘equitable resolution’ over sanctions imposed on MTN, banks

The Central Bank of Nigeria on Wednesday said it has commenced a review of the information provided by telecoms giant, MTN, and four banks sanctioned recently over alleged illegal repatriation of funds.
Economic and Financial Crimes Commission (EFCC)

CSNAC petitions EFCC, seeks probe of MTN, others over alleged illegal repatriation of revenue

The Civil Society Network Against Corruption, which is a coalition of over 150 anti-corruption organization with the aim of constructively combating corruption in Nigeria, has urged the Economic and Financial Crimes Commission to investigate the alleged illegal repatriation of export revenue by communication giant company, MTN, and its collaborators.
Standard Chartered Bank Nigeria

EFCC officials storm head office of Standard Chartered Bank

Officials of the Economic and Financial Crimes Commission (EFCC) stormed the headquarters of Standard Chartered Bank in Lagos on Friday.
Standard Chartered Bank Nigeria

Standard Chartered pledges sustained adherence to regulations

Standard Chartered Bank Nigeria Limited yesterday has promised to continue to conduct its and remain committed to carrying on our business in compliance with all relevant laws and regulations.
FILE PHOTO- An MTN starter kit pack on display at a retail stand in Abuja, Nigeria November 17, 2015. REUTERS-Afolabi Sotunde-File Photo

MTN drags central bank, federal government to court over alleged illegal funds repatriation, tax...

MTN Nigeria has gone to court to challenge the directive of the Central Bank of Nigeria (CBN) that the telecoms company should refund $8.134 billion illegally repatriated from the country and the demand by the Attorney General of the Federation (AGF) that it should pay $2 billion tax arrears to the federal government.

CBN: N1.8 billion fine imposed on Stanbic IBTC is in national interest

The Central Bank of Nigeria (CBN) on Friday said the alleged deduction of N1.886 billion fine from Stanbic IBTC Bank’s account was in the national interest.

MTN: Central bank debits four banks N5.87 billion

The Central Bank of Nigeria has debited the four banks it sanctioned over the breaching of its capital importation policy of N5.87 billion.

Police as your friend

At home on Monday evening, I was engrossed in some heavy reading and writing task when I got a desperate call from my driver who had closed for the day. His friend, and some other hapless Nigerians, had just been randomly arrested at Ketu area by the “Lagos State Task Force” for undisclosed offences.

MTN refutes claims of illegal repatriation of $8.1bn

MTN Nigeria has denied its involvement in the illegal repatriation of dividends worth $8.1bn between 2007 and 2015.

Central bank slams N5.87 billion fine on four banks over forex illegal deals

The Central Bank of Nigeria (CBN) on Wednesday imposed a N5.87 billion fine on Standard Chartered Bank, Stanbic-IBTC, Citibank, and Diamond Bank over alleged irregularities.

Nigerian Air Force redeploys 52 senior officers

The Nigerian Air Force (NAF) has redeployed a total of 52 senior officers comprising 16 Air Vice Marshals (AVM), 16 Air Commodores, nine Group Captains, seven Wing Commanders and four Squadron Leaders.

Norway artists file complaint against Tidal over false streaming

Norwegian songwriters, composers and music publishers on Monday said they had lodged a complaint against Jay Z’s music platform Tidal after a media report said its streaming statistics had been manipulated.

Senate blames central bank for MTN’s $13.9 billion repatriation

The Senate has blamed the Central Bank of Nigeria for allowing telecoms company, MTN, to abuse of its policy regulating capital repatriation.

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