Telecommunications giant, MTN on Wednesday described as “unfounded” and “baseless” allegations that it illegally moved $12.92 billion out of Nigeria between 2006 and 2016.

MTN Nigeria CEO, Ferdi Moolman said debunked the claims.

He said, “MTN’s attention has been drawn to various media reports containing allegations of improper repatriation of money out of Nigeria by the company.

“The reports refer to allegations made on the floor of the Senate MTN had illegally repatriated $13.92 billion out of Nigeria over a period of 10 years in collusion with a number of commercial banks.

“The allegations made against MTN are completely unfounded and without any merit.”

A senator representing Kogi West, Dino Melaye had told the Senate that MTN connived with four Nigerian commercial banks and the current Minister of Trade to repatriate the alleged funds.

Azeez