Mobile giant MTN said Friday that Nigeria’s attorney general had
withdrawn a demand for around $2 billion in back taxes in the
latest step towards resolving its legal woes with the
authorities.
The South African telecommunications firm has already battled
back a string of financial claims from Nigeria and last May floated
its shares on the stock exchange in the West African country.
The company said that the attorney general’s office had
“withdrawn its letter of demand” for the back taxes and referred
the matter to the inland revenue and customs services to be
resolved.
“We appreciate this decision of the Attorney General which paves
the way to an orderly and amicable resolution of this matter,” MTN
Group CEO Rob Shuter said in a statement.
MTN, which began operation in Nigeria in 2001, is the country’s
largest operator with some 60 million subscribers.
The company last year settled a $1.5 billion fine levelled by
the authorities for failing to disconnect unregistered
subscribers.
In 2018 it agreed to pay a separate $53 million fine after being
accused of illegally repatriating $8.13 billion to South
Africa.
The disputes with MTN have rattled investor confidence in
Africa’s most populous nation and tarnished diplomatic relations
between continental powerhouses Nigeria and South Africa.
AFP
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ERPG: Governors urged to invest more on
planing than Budgeting
Minister of State, Budget and National Planning,
Prince Clem Agba has urged State Governments to place more emphasis
on planning rather than just budgeting as is currently the practice
in most states, saying that the Economic Recovery and Growth Plan
(ERGP) designed to steer the country’s economy from the woods, had
guaranteed a ten quarter consecutive growth to the Economy.
Prince Agba made this call on Friday,
10th January, 2020, in Abuja, when he played host
to a delegation of Kastina state Micro Small and Medium Enterprises
Council, (KS MSMEC), led by the Deputy Governor of the
State, QS Mannir Yakubu, who doubles as the
Chairman of the Council.
“We had in the past concentrated our efforts on just
budgeting, but budgeting must grow from a development plan and that
explains the success we have recorded so far in the economy,
although this has not met our expectations, but it has remained
consistent in the last ten quarters”, the Minister explained.
The Minister praised the efforts of the Kastina State
Government in setting up the Micro, Small and Medium Enterprise
Council, saying “available statistics reveal that MSME’s employ
between 60%-70% of the working population and therefore holds the
key to the growth of the Economy”.
He urged the delegation to continue investment in the
area and pledged the support of the Ministry to the State
Government, especially in the areas of capacity development and
technical assistance, to ensure that Kastina MSME council delivers
on its mandate.
Price Agba further urged the State Government to take
advantage of the 500million Euros approved by the Federal Executive
Council,(FEC) for the Bank of Industry to support MSME development
in the country, by working with the Bank to access the fund.
Earlier, the Deputy Governor informed the Minister
that the state was desirous of creating an enabling environment
that would facilitate economic growth in the state and as such had
taken a number of steps such as setting up of the state MSME
council, Kastina State Investment Agency, etc, to achieve this.
He therefore requested the minister to assist the
State with the needed technical assistance in attracting more funds
from Development partners and other donor agencies as well as
capacity development of the state work force.
#
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FOR: DIRECTOR INFORMATION, MBNP