FOREX Transfer: Senate summons Telco, Banks

FOREX Transfer: Senate summons Telco, Banks

The Senate has summoned the management of MTN Limited, Bankers and some businessmen over alleged violation of the Foreign Exchange (Monitoring and Miscellaneous) Act.

They are to appear before the Senate Committee on Banking, Insurance and Other Financial Institutions next week. The Senate had begun a probe into the allegation that MTN repatriated a total sum of $13.9bn from Nigeria to other countries between 2006 and 2016. Read more

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