Mobile phone giant MTN has accused Nigeria’s central bank of damaging investor confidence after it accused the company of illegally transferring $8bn (£6.1bn) abroad.
The allegations against MTN had been investigated by the Senate, Nigeria’s upper parliamentary chamber, and it found that the company “did not collude to contravene foreign exchange laws”, the firm said in a statement.
MTN was law-abiding, and would vigorously defend its position, it added.
“The re-emergence of these issues is regrettable as it damages investor confidence and, by extension, inhibits the growth and development of the Nigerian economy,” MTN said.
