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MTN sues Central Bank, Attorney-General over imposition of fines
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MTN sues Central Bank, Attorney-General over imposition of fines

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Image result for MTN sues Central Bank, Attorney-General over imposition of finesTelecoms company, MTN Nigeria has filed a suit against the Central Bank of Nigeria and the attorney-general of the federation to seek a restraining order.

It is seeking an injunction to protect its assets and shareholder rights.

In a statement by the corporate relations executive, Tobe Okigbo, the company continues to “categorically and unequivocally” deny all charges related to investigations by the CBN and AGF into the company’s CCIs and unpaid taxes respectively.

The CBN had alleged improper dividend repatriations by MTN Nigeria and requested that $8.1 billion be returned to the coffers of the banking regulator.

While, The AGF said the telco had unpaid taxes on foreign payments and imports, approximately $2.0 billion.

Members of the Premium bread makers association of Nigeria want the federal government to address all contending issues that can lead the industry to extinction.

According to them, the 106 percent increase in the price of baking ingredients between the year 2015 -2018 is gradually killing the bakery business.

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