MTN Group and its bankers have provided more documents that may reduce Nigeria’s US$8.1-billion claim on the carrier, which could be resolved soon, the Central Bank of Nigeria said on Sunday.
Browsing: MTN
A report on Thursday evening that Nigeria is playing hardball with MTN Group sent the wireless carrier’s shares tumbling more than 10% shortly after markets opened in Johannesburg on Friday.
Nigeria’s central bank said MTN Group should not be given an injunction that would stop the wireless carrier from having to transfer $8.1-billion back to the West African country.
South African banks are reporting phenomenal growth in the use of banking apps despite the country’s finite banked population, stagnant levels of smartphone penetration and relatively low levels of financial literacy.
In this episode of the podcast, Duncan McLeod interviews newly appointed EOH Holdings CEO Stephen van Coller on the group’s disappointing 2018 financial results and how he plans to turn the situation around.
Stephen Van Coller, EOH Holdings’ new CEO, said he will use a R1-billion cash injection from a stake sale to black investors to pay for acquisitions and decrease the group’s bank debt.
MTN Group, facing a combined $10-billion in claims from Nigerian authorities, has said it may no longer seek to raise capital through an initial public offering on the country’s stock exchange.
The CSIR’s report on how much spectrum the agency believes should be assigned to government’s planned wholesale open-access network has finally been released.
After coming out all guns blazing, Nigeria’s central bank has surrendered more ground in its tussle with MTN Group by giving a reprieve to one of the banks accused of illegally moving $8.1-billion out of the country.
Standard Bank Group has withdrawn a cautionary announcement to shareholders related to demands placed on it by Nigeria’s central bank over the alleged illegal repatriation of $8.1-billion in funds by MTN Group.