THE MTN Group has denied the allegation of
improper repatriation of money out of Nigeria by the company, which was made made
on the floor of the Senate.
The allegation said that MTN had illegally
repatriated $13.92 billion out of Nigeria over a period of 10 years in
collusion with a number of commercial banks.
MTN Nigeria Chief Executive Officer, Ferdi
Moolman while reacting to allegations from Senator Dino
Melaye, a member of the Senate representing Kogi-West Senatorial District,
said, “The allegations made against MTN are
completely unfounded and without any merit”.
Melaye alleged that MTN Nigeria had repatriated $13.9
billion from Nigeria to other countries between 2006 and now with the help of a
serving minister and some banks.
He said that Stanbic IBTC, allegedly
helped the firm to transfer $4.87 billion; Standard Chartered Bank, $5.72
billion; Citi Bank, $2.98 billion; and Diamond Bank, $0.35billion.
The lawmaker further disclosed that he had documentary
evidences to back his claims, some of which he brought to the floor of the
chamber and said would be made available for investigation.
He said, “The Senate observes that MTN did not request
for the Certificate of Capital Importation from its bankers, Standard Chartered
Bank, within the regulatory period of 24 hours of the inflow. The Senate
observes also that the CBN was not notified of this inflow by Standard
Chartered Bank within 48 hours of receipt and conversion of the proceeds to
naira as required by regulation.
“It further observes that the sum of $117,683,987bn
was also brought in by MTN between 2001 and 2003 in three different tranches.
It is concerned that since inception, MTN had sought the collaboration of
influential and unpatriotic Nigerians to assist them in looting our external
reserves.”
Melaye added, that a serving minister, was used in
moving $13.92bn out of Nigeria by which
was over 50 per cent of the country’s external reserves, to floating and
incorporating offshore Special Purpose Vehicles in the Cayman Island, Mauritius
and British Virgin Island.
The senator listed the names of the SPVs, their
promoters/shareholders and their share loan between MTN South Africa as: Cel
Telephone Investment Limited, Port Louis, Mauritius; Dr. Pascal Dozie and Dr.
Okechuckwu Elenemah; $20,749,532; Celtel funded shares SPV (which was renamed
NISPV Limited in 2008), Port Louis, Mauritius; Dr. Pascal Dozie, Ahmed Dasuki,
Gbenga Oyebode, Babatunde Folawiyo and Dr. Okechukwu Elenemah, $2,019,232.
Others are Mobile Communication Investment Limited,
Port Louis, Mauritius; Mohammed Sanni Bello; $3,862,985; Mobile Communication
Holdings, Port Louis, Mauritius; Mohammed Sanni Bello; $3,454,102; Hermitage
Overseas Corporation Limited; Victor Odili; $10,273,986; SASPV Limited and
Ahmed Dasuki, $10,058,991.
The list also includes NCell Limited, Geneva Water
Front Drive, British Virgin Island; Gbenga Oyebode, $4,512,593; Universal
Communication Limited, Barkly House, George Town, Cayman Island; and Babatunde
Folawiyo, $5,534,941.
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