Nigeria's central bank to discuss $8.1 billion dispute with MTN, 4 banks today

October 9, 2018 12:24 PM

The meeting will allow both parties to decide on the documents earlier submitted and negotiate a deal that may help reduce the size of the claim.

The governor of the Central Bank of Nigeria, Godwin Emefiele, will meet the management of MTN Group Ltd. and four banks involved in the controversial forex repatriation and $8.1 billion demand dispute.

The meeting is said to take place in Abuja, today, Tuesday, October 9, 2018.

Sources familiar with the meeting told Bloomberg News that it will allow both parties to decide on the documents earlier submitted and negotiate a deal that may help reduce the size of the claim.

ALSO READ: All you need to know as Nigeria’s central bank and MTN go head-to-head in new forex saga

The meeting is coming two days after the CBN chief told reporters in London that MTN and its bankers had provided more documents that may reduce Nigeria’s $8.1bn claim on the South African mobile phone network, which could be resolved soon.

Standard Chartered, Stanbic IBTC Bank, Citibank and Diamond Bank are parties to the forex repatriation dispute.

MTN had filed a court case against the Nigerian authority and refused to comment on latest developments.

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