Browsing: MTN Nigeria

MTN Group’s shares rose the most in more than six months after the Nigerian central bank softened its stance over claims that the carrier illegally transferred $8.1-billion out of the country.

Telecoms minister Siyabonga Cwele has strongly suggested that the South African government stands ready to intervene on MTN Group’s behalf over the more than $10-billion in demands placed on the telecommunications provider by Nigeria.

MTN Group has become a battleground issue for Nigerian politicians vying for ascendancy ahead of a national election in February, with $10-billion worth of claims made against the South African wireless carrier.