Across Nigeria Corruption Matters

Melaye accuses minister of aiding MTN to transfer $13.9bn

The Senate on Tuesday began a probe into the allegation that the MTN Nigeria had repatriated $13.9bn from Nigeria to other countries between 2006 and now.
A member of the Senate representing Kogi-West Senatorial District, Dino Melaye, while moving a motion based on the ‘Unscrupulous Violation of the Foreign Exchange (Monitoring and Miscellaneous) Act’, alleged that MTN illegally repatriated the amount out of the country through its bankers.
The bankers, according to him, are Stanbic IBTC, which allegedly helped the firm to transfer $4.87bn; Standard Chartered Bank, $5.72bn; Citi Bank, $2.98bn; and Diamond Bank, $0.35bn.


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