The National Assembly has summoned the management of MTN Limited, the Minister of Trade and Investment, Mr Okechukwu Enelamah, and four commercial banks to appear before the house to answer to the alleged illegal transfer of over $13billion outside the country between 2006 and 2016.
The four banks are to appear before the Senate Committee on Banking, Insurance and Other Financial Institutions next Thursday to explain the circumstances surrounding the transfer of billions of dollars outside the country for the past 10 years.
It would be recalled that earlier last month, Senator Dino Melaye, representing Kogi West Federal Constituency, had opened up on the alleged illicit transfer with document which compelled the Senate to consider the development as an issue of urgent national importance.
He let out the cat from the bag while moving the motion for the passage of a bill tagged: “Unscrupulous Violation of the Foreign Exchange (Monitoring and Miscellaneous) Act on the floor of the house last September 27, accused the telecommunication giant of Unscrupulous Violation of the Foreign Exchange (Monitoring and Miscellaneous) Act.
The Senato representing Akwa Ibom North East senatorial district, Bassey Albert Akpan, who seconded the motion adds that the allegations against MTN violated the legal financial provisions of Nigeria and should, as a result, be investigated thoroughly.The Senate, therefore, has ordered an investigation into the financial dealings totalling $13.9billion.
The invitation follows the reduced fine of 1.1 billion dollars against the firm while the company’ share price in Johannesburg Stock Exchange has, reportedly, fallen by 2.3 percent partly on the spread of the news of the hearing.
A Senator who spoke to our correspondent on phone yesterday, said under anonymity that “Though MTN, the Minister and some of the bank had in at their different times refuted the accusations of the lawmaker; the Senate still finds it necessary for one-on-one explanation for Nigerians to hear them”.
