Connecting Africa is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 3099067.

4G/5G

MTN Wins First Round of Nigerian Tax Fight

Article Image
The Nigerian federal high court has dismissed the attorney general's (AG) attempt to exert temporary power over MTN's business in the dispute over the $2 billion in tax arrears the AG's office demanded. The hearing of the substance of MTN's case will be held in June.

As we reported yesterday, the court was due to rule over an objection lodged by the AG in response to the lawsuit brought by MTN Nigeria against the AG's demand for $2 billion in unpaid tax. According to a follow-up report by Tech Central, the court has rejected the Notice of Preliminary Objection filed by the AG's office, which would give the attorney general a range of powers, including freezing MTN Nigeria's bank accounts. MTN has argued that the issue raised should not fall under the purview of the AG's office, but rather the concerns of the Inland Revenue and Customs offices.

The substance of MTN's case against the alleged tax arrears will be heard in June. MTN would most likely argue that the only obligation to be fulfilled on its side would be the agreement reached with the Central Bank of Nigeria to pay a notional reversal of N19.2 billion, equivalent to $52.6 million. MTN has insisted that it has been in full compliance with Nigeria's tax laws.

This may be the final major hurdle MTN Nigeria needs to overcome before its IPO on the local stock market can proceed.

— Wei Shi, Site Editor, Connecting Africa

Innovation hub

Story

Hot startup of the month: Rwanda's Smart Ikigega

This month's hot startup, Smart Ikigega, wants to revolutionize the rural agricultural trade ecosystem in Rwanda by helping farmers access finance and harvest insurance.

Story

Deep dive into East Africa's tech startup ecosystem

New survey reveals a lack of access to investors, reliance on international VCs and global recession trends as the biggest barriers for East African tech startups to access funds.

More Innovation hub

Sponsored video

More videos

Flash poll

All polls

Latest video

More videos

Africa Tech Perspectives

Story

Deep dive into East Africa's tech startup ecosystem

New survey reveals a lack of access to investors, reliance on international VCs and global recession trends as the biggest barriers for East African tech startups to access funds.

Story

Challenges and opportunities for women's tech careers

A new survey reveals that COVID-19, the cost-of-living crisis, skills shortages and a lack of mentorship have negatively affected women's career development over the past two years.

Story

Survey: Opportunities for Women in Tech

Take our new survey for women across Asia, Europe and Africa looking at the biggest challenges and opportunities for women-led enterprises and trends in tech careers for women.

More AfricaCom perspectives

Guest Perspectives

Story

Omdia View: July 2022

By Omdia Analysts

Kenya and Zambia move towards 5G with new spectrum allocations while Tunisie Telecom plans to shut down its 3G network - that and more in this month's Omdia View.

Story

Omdia View: June 2022

By Omdia Analysts

5G was the major news trend across Africa in June, as Orange became the first operator to launch 5G in Réunion and operators in Senegal accelerated their 5G plans despite spectrum delays.

More Guest Perspectives

Industry announcements

More Industry announcements

Partner perspectives

All Partner Perspectives

Like us on Facebook

Newsletter Sign Up


Sign Up