Nigeria Government has slammed $2bn (£1.6bn) tax bill on MTN which is the largest mobile phone operator in Nigeria. MTN as a company as challenged the figure, stating that it relates to activities for over a decade.
The company says it had settled the bill with a $700m payment.
In 2016, the company agreed to pay Nigeria $1.7bn over failing to disconnect unregistered Sim cards. Nigeria’s Central Bank, last week ordered the company to repatriate $8bn it said had been taken out of the country illegally.
Africa’s largest mobile phone company, MTN said the tax bill is as a result of “the importation of foreign equipment and payments to foreign suppliers over the last 10 years”.
But, the company stated that it believes it has fully settled all amounts owing under the taxes in question.
It was reported that Shares in the company on the Johannesburg stock exchange fell sharply on Tuesday’s news, reaching a low of almost 10 years.