Governor Godwin Emefiele of the Central Bank of Nigeria has cleared the air on the order of the apex bank on MTN and four banks to repatriate a sum of $8.1bn that shareholders of the telecoms company illegally exported from Nigeria.
The governor said MTN had been under investigation for FX breaches in the last two and half years and that while the firm was cleared on two charges, the third charge was very weighty and could not be ignored.
The clearance MTN received predated last year’s senate hearings and was the basis for the senate clearing the company, BusinessDay learnt.
The governor who spoke exclusively to BusinessDay assured foreign investors that they have no need to fear pledging that all certificates of capital of importation, CCIs that have been issued remain valid and will be honoured by the Central bank. He added that Nigeria as a nation has its own laws and that individuals and corporate organisations operating in the country have a duty to obey these laws.
Details to follow….
