As MTN Nigeria continues to face disputed claims from various quarters – the Governor of the Central Bank of Nigeria, Godwin Emefiele in an interview with the press in London on Sunday has shared that the CBN’s demands on the ICT company may be reduced or dropped altogether. He stated, “I don’t think it will be at $8.1 billion having provided documents. I want to believe that the figures will reduce. Whether they will be dropped completely, I honestly cannot say at this time”.

In August this year the CBN alleged that four banks  and MTN Nigeria had been involved in the illegal repatriation of funds amounting to $8.134 billion. The ICT company has continued to insist on its innocence.

In CBN’s letter to MTN titled “Re: Investigation Into The Remittance Of Foreign Exchange On The Basis Of Irregular Capital Importation Certificate Issued To MTN Nigeria Communications Limited”, the apex bank’s stated that the allegations of irregular capital importation led to the investigation. The four banks involved were fined and MTN Nigeria was directed to refund the amount repatriated.

Subsequently, MTN Nigeria filed a suit at the Federal High Court requesting for an injunction in order to protect its assets and prevent irreparable damage. Facts stated in the document filed by MTN Nigeria stated that the organization was continuously bound by corporate social responsibility ethics. “As a responsible corporate organisation, MTNN is committed to the fulfillment of its fiscal obligations”.

The document also revealed that the company had since inception, paid the sum of Two Trillion, One hundred and Sixty Four Million ($2,164,000,000,000) to government coffers at various levels including the Federal Inland Revenue Service, State Boards Of Inland Revenue, Nigeria Customs Service, etc.

However, following the CBN’s recent request for the the suit to be dismissed, the Governor of the apex bank, stated that an “amicable” and “equitable” settlement was the expected outcome.

This most recent statement by the CBN governor aligns with the comment he made while addressing journalists at the MPC meeting in September where he suggested that an amicable solution was underway. In his words, “We’ll resolve the matter, everyone will be happy, from MTN and the lenders to the Central Bank of Nigeria and the government”.