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MTN Nigeria has strongly  denied allegations that it had illegally repatriated $13.92 billion from Nigeria .

Dino Melaye, a politician who made the motion on the floor of the Senate ,accused MTN of repatriating the money over a period of 10 years beginning in 2006, with the help of four banks.

In a statement by MTN Nigeria CEO, Ferdi Moolman, the telecoms giant said the allegations were unfounded. The statement said: “MTN’s attention has been drawn to various media reports containing allegations of improper repatriation of money out of Nigeria by the company, but dispels the allegation as untrue. “

The reports refer to allegations made on the floor of the Senate 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. The allegations are completely unfounded and without any merit.”