MTN Responds: ‘We Did Not Repatriate Dollars Illegally’

MTN Nigeria has officially responded to claims that it “illegally” repatriated about $14 billion out of Nigeria.

The company claims that it complied with fund transfer rules in Nigeria and did not pay dividends until it obtained regulatory approvals to send money out of the country.

They claimed  “certificates of capital importation” were requested for capital brought into Nigeria and that dividends were repatriated based on those investment, it said in a statement.