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Telco to temporarily forfeit N8bn to FG

MTN
MTN
The forfeited N8bn belonging to the telecom company is based on a report linking it to an illegal transaction.
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Africas mobile communication company, MTN, has been ordered to temporarily forfeit a sum of N8 billion contained in its Ecobank Nigeria Plc account to the Federal Government.

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The bank account with registration number, 0012005379, is suspected to be a product of an illegal transaction, Vanguard News reports.

In a related development, Abdulaziz Anka, the presiding judge on the matter also ordered that a Skye Bank account with number, 1013607079, be also surrendered to the FG since the holder has not made any claim to it.

The development is possibly as a result of the hard stance of the President Buhari led administration towards any act of corruption.

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