MTN clarifies on indebtedness as UBA explains delay in H2 results

MTN Nigeria Communications Plc (MTN Nigeria or the Company) has 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”, a statement by the telecom giant said.

It said 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.

In the same vein, the United Bank for Africa (UBA) has explained to its shareholders why its financial statement for the second Hal’s of 3021 has not been released.