MTN Remits $52.6m To End Disagreement With CBN

MTN Nigeria has paid the Central Bank of Nigeria $52.6m in settlement of the disagreement over the certificates of capital importation without final regulatory approval.

The foremost African telecoms giant in a statement issued on Monday, revealed that the agreement was reached after several engagements with the Central bank’s officials in Lagos.

It said the settlement was based on the basis that certain CCIs utilised in the private placement were not properly issued.