The Attorney General of the Federation, Mr. Abubakar Malami SAN, has withdrawn the demand for the unpaid duties and taxes by Telecom giant, MTN Nigeria, the company has disclosed.
The statement said the AGF in the letter announced his decision to refer the matter to the Federal Inland Revenue Service and the Nigeria Customs Service . By implication, the matter will now be handled by the two revenue generating federal agencies. Meanwhile, market reacted to the news of the withdrawal Friday as MTN stock was up six percent on the Johannesburg Stock Exchange and still rising because market has not closed at the time of filing this report. The company’s stock spiked 455 rand .
“MTN Nigeria is pleased to report that its legal counsel has received a letter dated 8th January 2020 from the Attorney General of the Federation and Minister of Justice formally withdrawing its demand for N242,244,452,212.97 and USD$1,283,610357.86 alleged revenue indebtedness.
This is Nigeria for you. Police and road safety dragging whose right it is to demand vehicle licence