Nigeria canceled South Africa telecoms giant MTN request for nearly $ 2 billion in tax arrears in appeasement after series of legal problems between the company and leading economic power from Africa, announced MTN. Since September 2018, MTN has been in conflict with the Nigerian Ministry of Justice and the prosecution over the issue of a tax backlog of $ 2 billion, and had filed a complaint against the Nigerian state. The trial was scheduled to begin on January 30. « MTN Nigeria was informed by a letter dated January 8, that after consulting the agency’s statutes, the prosecutor decided to hand the case over to the competent authorities, namely the Treasury (FIRS) and customs », can be read in a press release from MTN Nigeria published on January 10. « The attorney general has withdrawn his letter of formal notice concerning the $ 2 billion, issued in 2018, » said the South African company. This tax adjustment at the time caused MTN to lose up to 7.5% of its value, almost at its lowest level in ten years.
