The telecoms giant’s shares declined 3.24 per cent to R83.59 on the JSE yesterday, down from a year high of R140.
“Shareholders are advised that MTN Nigeria Communications Limited continues to engage with the Nigerian authorities in order to reach a mutually acceptable resolution on both the Central Bank of Nigeria and Attorney General matters,” the group said in a statement yesterday.
A Lagos court adjourned the case between MTN and representatives of the apex bank to December 12, after lawyers requested a short adjournment for them to report back to the court on the settlement talks.
The CBN accused MTN in late August of illegally repatriating $8.1 billion from the country. MTN has denied any wrongdoing. That was followed by a secondary allegation that the operator owed $2 billion in back taxes, a claim which MTN has said is without merit