MTN Seeks Nigeria Injunction in $10 Billion Payment Spat

Africa’s biggest wireless carrier repeated a denial that it illegally transferred $8.1 billion out of Nigeria and owed a further $2 billion in back taxes. The crisis has wiped almost a third off MTN’s share price as investors fret over its future in Nigeria, the South African company’s biggest market with about 66 million customers.

“We remain resolute that MTN Nigeria has not committed any offences and will continue to vigorously defend its position,” the Johannesburg-based company said in a statement on Monday

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