The MTN saga continues
Sep 4, 2018 · 1 min read
My article in the guardian today is on the CBN- MTN $8bn divedend saga. I argue that when you look at the broader picture, it looks like an attempt by the government to expropriate profits from MTN. You can read the article in full here.
Since the article was published it has come to light that the CBN is not the only party on MTNs tail. The AGF apparently wrote to MTN demanding $2bn in back taxes. If you did not know before, well now you do.
Of course, the hidden cost of all this is difficult to conceptualize. How do you explain that the cost is in investment that could have happened but now probably won’t?
