ABUJA – Nigeria is confident of resolving a $10.1 billion (R147bn) dispute with MTN and sending a positive signal to foreign investors worried about the country’s demand for the money, its trade and investment minister told Reuters.
Nigeria’s central bank on August 29 ordered the South African firm and its lenders to bring $8.1bn back into Nigeria that it alleged the company sent abroad in breach of foreign exchange regulations.
MTN also faces a $2bn tax demand from the country’s attorney general.
MTN denies any wrongdoing.
Okechukwu Enelamah, a former private equity executive, said the government was talking to all parties involved and aiming to resolve the disputes soon to boost investor confidence.