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Dino Melaye MTN might have illegally transferred over $14B from Nigeria - report

Bloomberg cited Dino Melaye, who referred to an investigation into the allegation that MTN illegally moved the cash out of the country

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A customer leaves an MTN shop in Johannesburg play A customer leaves an MTN shop in Johannesburg April 10, 2012. (REUTERS/Siphiwe Sibeko)

Shares in MTN Group slid more than 2 percent in mid-morning trade on Thursday after Bloomberg reported Africa's biggest mobile phone operator might have illegally moved more than $14 billion out of Nigeria.

Bloomberg cited a Nigerian senator, Dino Melaye, who referred to early findings of an investigation into the allegation that MTN illegally moved the cash out of the oil producing country.

MTN has denied the accusations.

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