CBN, MTN In Talks Over $8.1bn Dispute
Image: Bubbles Nigeria

Telecoms outfit MTN and the Central Bank of Nigeria (CBN) are in talks to settle the $8.1 billion dispute, according to their lawyers.

A court had on Tuesday, in Lagos, adjourned the case between the parties until December 12.

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Concise News had reported that the dispute is over the transfer of $8.1 billion of funds which Nigeria’s central bank said the company had sent abroad in breach of foreign-exchange regulations.

The firm had denied any wrongdoing.

According to a lawyer representing the CBN, Seyi Sowemino, the parties were in advanced stages towards the settlement. “We just want to cross T’s and dot I’s,” he told the court.

On his part, the lawyer representing MTN, Wole Olanipekun, said the two parties were in talks.

The lawyers requested a short adjournment for lawyers to report back to the court on the settlement talks.