• FIRS, NCS Now To Look Into N242b, $1.2b Matter• Telco To Withdraw Legal Action Filed Against MalamiThe office of the Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami, has withdrawn the demand of N242, 244,452,215.97 and $1,283,610,357.86 alleged revenue indebtedness from MTN Nigeria. MTN said it received a letter dated January 8, this year, from the AGF confirming the development. Ukpanah said MTN Nigeria would consequently follow due court process to withdraw its legal action against the AGF and engage with the FIRS and the NCS on the issues, adding that MTN Nigeria remains committed to conducting its business in accordance with applicable laws in Nigeria. While expressing satisfaction at the development, MTN Nigeria’s Chief Executive Officer, Ferdi Moolman, said: “We are very pleased with the decision of the AGF and we commend him for his wisdom. The demand, Malami said, was for a 10-year period on import duties, Value Added Tax (VAT) and withholding taxes on foreign imports/payments.

Source: The Guardian January 11, 2020 04:18 UTC