February 24, 2016/Reuters South African mobile phone operator MTN Group withdrew its lawsuit against Nigeria’s regulator over a $3.9 billion fine and paid $250 million toward a possible settlement. A judge in Lagos last month gave both parties until March 18 to reach a settlement, after MTN had asked the […]
Frauds & Scandals
Banks Refund over N6.2 Billion Illegal Charges in 2015-CBN
—-Urges Customers to Report Rogue Banks By InvestAdvocate Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) on Friday disclosed that Deposit Money Banks (DMBs) in Nigeria have been compelled to refund the sum of over N6.2 billion to affected customers on illegal charges in 2015 alone. The CBN said this is […]
South Africa’s MTN expects “reasonable” Nigerian fine – sources
Fri Feb 19, 2016/Reuters By Tiisetso Motsoeneng South African telecoms firm MTN Group could end up paying a “reasonable” amount following talks with the Nigerian authorities over a disputed $3.9 billion fine for failing to disconnect unregistered SIM card users, two sources familiar with the matter said on Friday. A […]
