MTN Nigeria Clarifies Indebtedness to the Federal Government of Nigeria


Tuesday, August 31, 2021 / 05:55 PM / NGX / Header Image Credit: News24

MTN Nigeria Communications Plc (MTN Nigeria or the Company) wishes to clarify erroneous reports in the media alleging that the Company is indebted to the Federal Government of Nigeria in respect of outstanding taxes.


It may be recalled that in a letter dated 8 January 2020, the Office of the Attorney General of the Federation (OAGF) officially transferred the matter of MTN Nigeria's alleged indebtedness to the Federal Inland Revenue Service (FIRS) and the Nigerian Customs Service (NCS) for resolution.


As with previous requests of a similar nature, MTN Nigeria has been happy to cooperate with the authorities, providing evidence to demonstrate full compliance with all extant tax and regulatory obligations and discussions are ongoing in this regard.


As recently as last year, the tax authorities commended MTN Nigeria for its prompt payment of dues. In addition, when asked earlier This year, the Company agreed to make advance tax payments ahead of established deadlines to support Government's revenue drive. This was also the case in 2020, when in response to FIRS appeal to support Government MTN Nigeria made an early payment of its 2019 Companies Income Tax (CIT) of N46.9billion. The Company did the same this year, between March 2021 and June 2021; making early payments of N95.5 billion for the 2020 CIT, which was due on 30 June 2021.


MTN Nigeria remains committed to conducting its business in accordance with applicable laws and is dedicated to contributing to the social and economic development of Nigeria.

Visit MTN Nigeria Communications Plc IR Page in Proshare MARKETS 

Graph - One Year Share Price Movement

Proshare Nigeria Pvt. Ltd.


Table:  Q2 2021 Unaudited Results

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.


Related News

  1. How MTN Nigeria Paid Over N2trn in Taxes and Levies in 20 Years...
  2. MTN Nigeria Reports N141bn PAT in Q2 2021 Results, Proposes N4.55K Interim Dividend;(SP:N165.00k)
  3. MTN Nigeria's AAA Status by GCR Rating: What Does it Mean?
  4. MTN Nigeria to Offer 14.0% of MTN Mauritius Holding to Retail Investors
  5. How MTN Nigeria is Supporting FG's Financial Inclusion Strategy
  6. MTN Nigeria Assigned Highest Possible Credit Ratings by CGR, Outlook Stable
  7. MTN Nigeria Q1 2021 Results Review: Positive Earnings Outlook Post Solid Q1 Results
  8. MTN Nigeria Communication Plc Returns to FMDQ Exchange to Quote Additional Commercial Papers
  9. MTN Nigeria Issues First Telco Bond in Nigeria
  10. MTN Nigeria Series 1 Bond Issuance of Up to N100 Billion Now Open


 Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Related News