Joanna Yusuf
MTN Nigeria Communications Plc said on Friday that it had withdrawn its case with the federal government over alleged N242.24 billion revenue indebtedness and $1.28 billion from it.
MTN Nigeria stated this in a regulatory filing signed by its Company Secretary, Uto Ukpanah, to the Nigerian Stock Exchange (NSE)
The company said its legal counsel received a letter from the Attorney General of the Federation, which formally withdrew the government’s demand for the funds.
The company said in a statement: “MTN Nigeria is pleased to report that its legal counsel has received a letter dated Jan.8 2020 from the Attorney General of the Federation and Minister of Justice (the AGF) formally withdrawing the demand for N242,244,452,215.97 and $1.283,610,357.86 alleged revenue indebtedness,
“MTN Nigeria will consequently follow due court process to withdraw its legal action against the AGF and engage with the FIRS and NCS on the issues.
“MTN Nigeria remains committed to conducting its business in accordance with applicable laws in Nigeria,
“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 we remain fully committed to meeting our fiscal responsibilities and contributions to the social and economic development of Nigeria,”
