The Central Bank of Nigeria (CBN) has asked MTN Nigeria to pay $52.6m in settlement of the dispute over the certificates of capital importation without final regulatory approval.

The African telecoms giant said in a statement issued on Monday that the agreement was reached after several engagements with the apex 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.

Details later…

In this article: