Amount of Money Illegally Transferred by MTN is “Mind Boggling”, says Lawyer

A Nigerian Lawyer has described the amount of money illegally moved out of Nigeria by South Africa’s MTN Group (MTNJ.J) as “mind boggling”.

Senator Olusola Adeyeye, while reading  out a statement from Senate leader Bukola Saraki, said “It is not what we can sweep under the carpet. We intend to get to the bottom of the fact, all of the fact, nothing but the fact”. He however did not specify what the alleged amount might be.

He spoke at the start of a parliamentary hearing to investigate accusations that MTN transferred at least $14 billion out of Nigeria without observing the country’s laws.

According to Reuters, the company has so far denied this allegation.

Posted by Janice Johnson