Nigerian govt tells MTN to pay $2bn tax arrears

The Federal Government has asked MTN Nigeria to pay taxes of $2bn
(N700bn), six days after the Central Bank of Nigeria ordered it to
repatriate $8.13 billion 'illegally taken out of the country'.

The telecom company said in a brief statement that the Attorney
General's office gave "notice of an intention to recover the $2
billion from MTN Nigeria."

But MTN's spokesperson, Funsho Aina denied any wrongdoing, saying that
the company has fully paid all its taxes and was not owing the country
any dime in tax.

"Based on the detailed review performed, MTN Nigeria believes it has
fully settled all amounts owing under the taxes in question," Aina
said in the statement.

Six days ago, the CBN ordered MTN to bring back to Nigeria $8.13
billion 'illegally repatriated' to South Africa.

The apex bank also fined four banks – Diamond Bank, Stanbic IBTC, Citi
Bank and Standard Chartered Bank – involved in the transfer N5.78bn.

The NCC's Executive Vice Chairman Prof Umar Garuba Danbatta, while
addressing newsmen on Tuesday, said, "I am happy to inform you that
our agreement with MTN on how and when to pay the fine has been
adhered to. Just last month, March, we received a cheque of N55bn from
MTN as part of the fine payment plan. This brings the total fine paid
by MTN Nigeria to N165bn, that is, more than half of the fine has been
paid so far.

"We call it amicable settlement agreement on which basis they will be
paying N330bn over a period of three years.''

He said by the terms of the agreement, the money would be made in six
tranches over the three year period.