23 September 2016

Senate probes $12bn capital flight involving MTN, minister

  The Senate is to probe an allegation of $12bn capital flight involving MTN and a serving minister.  A motion to that effect will be moved on Tuesday by the chairman of the Senate Committee on FCT, Senator Dino Melaye (APC, Kogi West). 
Melaye had during yesterday’s plenary raised a point of order where he made the allegation.  Raising the point of order, Melaye said MTN Nigeria paid $284.9 million February 6, 2001 to purchase their license for operations in Nigeria.

 “I want to say with facts which by the grace of God I will make available on the next legislative day that between 2006 and 2016 through four Nigerian banks and indeed a serving minister and some other fraudulent Nigerians MTN has moved over $12 billion dollars out of Nigeria and that is about half of our external reserves. If I get the nod of the Senate I will want to bring a substantive motion on Tuesday with facts to buttress this position,” he said. Responding, the Senate President, Bukola Saraki approved Melaye’s request.

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