MTN drops Nigerian lawsuit, pays $250m in ‘good faith’
Mobile phone operator MTN withdrew its lawsuit against Nigeria’s regulator over a $3.9 billion fine and paid $250 million towards a possible settlement.
Mobile phone operator MTN withdrew its lawsuit against Nigeria’s regulator over a $3.9 billion fine and paid $250 million towards a possible settlement.
Chad’s President Idriss Deby said on Tuesday he would reintroduce constitutional term limits if he won a fifth term in an election slated for April.
Nigerian central bank governor Godwin Emefiele kept interest rates on hold yesterday and many feel he missed a trick by resisting calls to weaken the currency.
The local units of MTN and Orange owe Cameroon nearly $166 million in taxes, including on games, says the country’s corruption board.
MTN Group will lobby for further reductions to a fine imposed by Nigeria, a source familiar with the matter said, after authorities in its biggest market cut the penalty by more than a third to $3.4 billion.
Nigerian president Muhammadu Buhari has been criticized for creating uncertainty by delaying the appointment of a cabinet in Africa’s largest oil producer.
South Africa’s bourse briefly suspended trading in telecoms firm MTN Group, after the stock fell as much as 8 percent as it battles to reduce a $5.2 billion fine it faces in Nigeria.
A depressing wave seems to have engulfed the African leadership, with many previous defenders of democracy wanting to become Presidents for Life.
It has been exactly one year since Islamic militant group Boko Haram abducted 276 teenage girls from their school dormitories in northeastern Nigeria.
A day after becoming the first politician in Nigerian history to succeed a sitting leader by ballot, Muhammadu Buhari promised on Wednesday to “spare no effort” to defeat Islamist militant group Boko Haram.