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Lumko Mtimde, the suspended CEO of government’s universal service agency Usaasa, must be reinstated by next week, public protector Busisiwe Mkhwebane has ruled in a report that has condemned the conduct of the agency’s board.

MTN Group shares plunged more than 22% on Thursday morning after reports emerged that the Nigerian central bank has ordered four banks to refund more than $8-billion “illegally expatriated” by the telecommunications provider.

MTN Group has hit out at the Central Bank of Nigeria over a demand to refund more than $8-billion allegedly illegally expatriated from the country over an eight-year period.