Tech News

Why AGF withdraws revenue debt case against MTN

MTN headquarters

The Attorney General of the Federation, AGF, Justice Abubakar Malami has explained that withdrawal of the demand for MTN Nigeria, to refund N242.24 billion and $1.28 billion allegedly owed by MTN as revenue to the federal government of Nigeria, was to give the Federal Inland Revenue Service, FIRS and Nigeria Customs Service, NCS, the opportunity to resolve the issue amicably. The AGF said the matter has been referred to them.

MTN Nigeria yesterday reported that its legal counsel received a letter dated 8 January 2020 from the Attorney General of the Federation and Minister of Justice, AGF, formally withdrawing his demand for N242,244,452,215.97 and USD$1,283,610,357.86 alleged revenue indebtedness.

MTN said the letter confirmed that following careful review and due consultation with relevant statutory agencies, the AGF decided to refer the matter to the Federal Inland Revenue Service (FIRS) and Nigeria Customs Service (NCS) with a view to resolving contentious issues.

Attorney General of the Federation, Abubakar Malami

CEO, MTN Nigeria, Ferdi Moolman said that following the new development, his company will consequently follow due court process to withdraw its legal action against the AGF and engage with the FIRS and NCS on the issues. He promised that MTN Nigeria will remain committed to conducting its business in accordance with applicable laws in Nigeria.

He said: ‘’we are very pleased with the decision of the AGF and we commend him for his wisdom. We maintain our dedication to building and maintaining cordial relationships with all regulatory authorities in Nigeria and remain fully committed to meeting our fiscal responsibilities and contributing to the social and economic development of Nigeria.’’

 

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Subscribe to our Newsletter to Get Fresh and Free Updates.

Subscribe to our Newsletter to Get Fresh and Free Updates.

ICT news breaks, new industry statistics, Pinpoint Tech reviews and much more!

You have Successfully Subscribed!