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Senate To Probe MTN For Over $12bn

The senate on Tuesday has decided to probe MTN Nigeria for allegedly taking out the sum of $12 billion from Nigeria’s economy within 10 years.

The decision was taken by the senate after Dino Melaye, lawmaker representing Kogi west senatorial district, moved a motion at plenary on Thursday 27, 2016.

While moving the motion, Melaye alleged that between 2006 and 2016, MTN used 4 Nigerian banks and a then serving minister to move the said amount out of the country.

READ ALSO: MTN To Double Spending In Nigeria In 2016

“My respected colleagues, MTN Nigeria paid the sum of $284.9 million on the 6th of February, 2001 to purchase their licence of operations in this country,” Melaye said.

Between 2006 and 2016, through four Nigerian banks and a serving minister of the Federal Republic of Nigeria, MTN moved over $12 billion out of Nigeria. That is about half of the Nation external reserves.

“If I get the nod of the senate I will want to bring a substantive motion on the next legislative day with substantiated facts to support this position.”


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