wanaj0:


Very unlikely that they will list under current condition. Rumors is linking this to some political maneuvering.

Bros, am not surprised. If One politician could frustrate Richard Brownson anything is possible with our leaders.

stcool:


Their business in Nigeria is almost like portfolio business, 99% lease and commission. Any day they want to leave them go dust their bag waka comot.

MTN knows that it would be making the greatest mistake if it leave Nigeria which happens to be its biggest market. Nigeria alone accounts for about 25% of MTN's customer base.
They better go and settle buhari's campaign organisation. They should know the game by now.

cadno:

Bros , please explain

just kidding !

Mcy56:
Chai! This ban don do Agba strong thing. Wetin be your offence na?

These are the villages people who handle Agba case

Dangcem -8% will pull index down ! Index needs MTN

Godlylifeoneart:
https://www.moneyweb.co.za/news/companies-and-deals/nigeria-orders-banks-to-return-8-1bn-in-mtn-dividends/


MTN GOING SOUTHWARD
NIG CB SENT MTN SOUTHWARD
MTN LOST 19% ON JSE

South Africans are just insulting us anyhow over this fine

I think this whole mess is a case of bribing certain people to allow you do things without getting approval.

Nigeria is a funny place when it comes to corruption, cus the officials are never in agreement so once your friend in government goes, the new set will start ringing your bell.

I don't see MTN paying the money back but the banks have a lot of proving to do to get away from those fines.

Godisfaithful:
These are the villages people who handle Agba case

LMAO.
He don go village go cause commotion there, he no know say village women strong pass town own.
Dem go soon pursue am back to town.

Mpeace:
MTN knows that it would be making the greatest mistake if it leave Nigeria which happens to be its biggest market. Nigeria alone accounts for about 25% of MTN's customer base.
They better go and settle buhari's campaign organisation. They should know the game by now.

With constant issues like this, no business would think long terrm in its host country. ConocoPhillips, Etisalt,...bro when it comes to Nigeria and foreign investor they milk out as much as possible, create enough loans so they can bonce and never look back. Thanks to bad leaders.

Watch money exchange hands in coming months...$8billion na beans, join the previous fine that they have not finished paying.

fxuser:
Dangcem -8% will pull index down ! Index needs MTN

They will surely list. They have no option.

stcool:


With constant issues like this, no business would think long terrm in its host country. ConocoPhillips, Etisalt,...bro when it comes to Nigeria and foreign investor when they milk out as much as possible create enough loans so they can bonce and never look back. Thanks to bad leaders.

Etisalat left with nothing. Na nigerian guys chop the loan.
If MTN wants to leave today, there would be a long list of interested buyers even if they accummulate loans. Do you know how much it takes to capture the market size they have in nigeria? Even dangote will rush it.

Just recently MTN secured another set of loans, and they have not yet listed. I only urge CBN to ensure that if the fine must be payed, MTN should bring the money from South Africa. We don't want a case where the money would come from Nigerian banks. That they wont tell us.

Loco. Hw fr with you.

Mpeace:
Etisalat left with nothing. Na nigerian guys chop the loan.
If MTN wants to leave today, there would be a long list of interested buyers even if they accummulate loans. Do you know how much it takes to capture the market size they have in nigeria? Even dangote will rush it.

So you think its only Nigerians that sucked Etisalat dry...no worry black man get mind and can wage any war for a foreigner for just $1 million. Even the one MTN took out somebody gave them the go ahead and said nothing will happen, just settle me.

But like Oliver Twist, Nigerians would always ask for more.

Mpeace:
Etisalat left with nothing. Na nigerian guys chop the loan.
If MTN wants to leave today, there would be a long list of interested buyers even if they accummulate loans. Do you know how much it takes to capture the market size they have in nigeria? Even dangote will rush it.

Dozie will open Diamond bank's safe for them, then wait to report impairment. Another opportunity loading for 'US'.
We already know now that whatever losses he has intended to report, it is now -250M.
I tire!

Mpeace:
Loco. Hw fr with you.

Fine.You and Diamond.If e no kill you,you go kill am.

funny to see nigerians still not able to understand that the south africans are bleeping us in the anus while we are begging them to list their over pricey shares on exchange which go turn investor into shellholder like other ipo like wetin dem call nagode me i say na god dey



god dey....


all them thief must pay...

BASINTL

Please what site can someone get real time NSE stock price, now that stockMarketwatch ng by Abidemi has gone

Yayira:


This administration did not favor diamond bank at all but this illegal money repatriation happened back in 2015-16 when MTN was fine for not blocking unregistered SIM.

Its like Mtn is contesting the claim by CBN that they did not illegally repatriate the said sum, $8.1b back then.
https://punchng.com/mtn-refutes-claims-of-illegal-repatriation-of-8-1bn/

Yes, according to the statement released by MTN, it is contesting the fine.

Don't be surprised that the fine would be reduced after talks. This is Nigeria, where most people are ..............

hyness:

Its like Mtn is contesting the claim by CBN that they did not illegally repatriate the said sum, $8.1b back then.
https://punchng.com/mtn-refutes-claims-of-illegal-repatriation-of-8-1bn/

stcool:


So you think its only Nigerians that sucked Etisalat dry...no worry black man get mind and can wage any war for a foreigner for just $1 million. Even the one MTN took out somebody gave them the go ahead and said nothing will happen, just settle me.

But like Oliver Twist, Nigerians would always ask for more.

This one that Mtn is contesting CBN fine, its like everyone involved in the deal is gearing up for more kickback to pass under the table as always, they may never pay the fine, or it will be reduced drastically. I do not believe CBN will just come out to announce this allegations without doing their own internal investigations.

dipoolowoo:
Yes, according to the statement released by MTN, it is contesting the fine.

Don't be surprised that the fine would be reduced after talks. This is Nigeria, where most people are ..............

Yes i agree with you! This is a ploy to not pay!

hyness:

Yes i agree with you! This is a ploy to not pay!

Its not like CBN is saying they should pay $8billion oh. CBN only wants them to return the money back to nigeria. When returned, the money will still belong to mtn. They will now be required to follow due forex process in taking it out of the country.

^^^
@Mpeace.

(modified) - I know the money belongs to them. But are they not as foreigners investing in this country suppose to re-invest the profit back into their host economy? Is that not suppose to be a condition to grant them license to invest here in this country? Because its wrong to allow them make the money here and then take the gain/profit away to develop their own country's economy. Or is the money not part of the profits they have been making from their business here?
But then what am hoping should not happen as they are contesting the claim is if CBN or any other regulations can still fine the banks involved in the repatriation?

Mpeace:
Its not like CBN is saying they should pay oh. Is cbn only wants them to return the money back to nigeria. When returned, the money will still belong to mtn. They will now be required to follow due forex process in taking it out of the country.

If this is the ploy then it is a good thing for Nigerian economy. But the number of catapaults waiting to shoot this bird is enough reason for this bird not to think of perching...

Fast News Rand hits one-week low on EM selloff, stocks dip on MTN The rand has fallen alongside other emerging market currencies on concerns that a trade truce between Washington and Beijing will be derailed.
Mfuneko Toyana, Reuters / 30 August 2018 09:11 One comment so far
South Africa‘s rand tumbled to its weakest in more than a week on Thursday as financial crises in Turkey and Argentina rattled sentiment toward emerging markets and stoked another wave of selling on the local currency.

“The entire EM is a sea of red,” said currency trader at Rand Merchant Bank Jan Sluis-Cremer.

“The rand’s being dragged down by other emerging markets. We saw Argentina implode overnight and that’s sparked some selling across the board and it seems like the rand is being used as a proxy hedge,” said Sluis-Cremer.

At 08:30 GMT the rand was down 1.76% to 14.61 per dollar, its weakest since August 20, falling rapidly as trading on London desks resumed after ending overnight at 14.42.

The Argentine peso crashed over 7% after a investor confidence there collapsed following its request to the International Monetary Fund (IMF) to speed up disbursement of a $50 billion loan programme.

Sentiment towards emerging markets was also hurt by Turkey’s ongoing financial crisis, and the lira was amongst the hardest hit by the fresh bout of investor nervousness, diving nearly 2% to a 2-month trough.

Bonds also weakened, with the yield on the benchmark paper due 2026 up 6 basis points to 9%.

Stocks opened on the backfoot with mobile operator MTN tumbling 23% after Nigeria authorities ordered the South African telecoms group and its bankers to return $8.1 billion.

Nigeria’s central bank said the funds had been illegally moved abroad because the company’s bankers, who include South Africa‘s Standard Bank’s Nigerian unit Stanbic , had failed to verify that Africa‘s biggest telecoms company had met all the foreign exchange regulations.

Standard Bank denied any wrongdoing.

Its shares fell 3.2% on the news.

“The MTN saga is not helping South African markets at all,” analyst at TreasuryOne Wichard Cilliers said.

“But that’s only a small part of it. It’s really all about emerging market sentiment.”

The Top-40 index was down 1.38% to 53 317 points while the broader all-share index slipped 1.14% to 59 477 points.

The local bourse has fed off positive earnings results from Wall street firms, managing ten straight sessions of gains before Thursday’s dip, with analysts saying it could be the start of a correction.

I will still buy Diamond Bank shares in December whether NSE likes it or not.

The $8b that CBN has asked MTN to repatriate is not a FINE but money that will have to be returned to the MTN Nigeria bank accounts. The problem will be at what exchange rate the CBN will be willing to take the dollars from them. They can show them mercy by converting it for them at N360. Another question will be where will MTN group see this kind of cash to repatriate to Nigeria.

those that thought Agba post here affect the stock price should have a re-think. Agba can not post over few days now yet mkt fall

Agba is coming back 2morrow and the fun continues

swilo:
I will still buy Diamond Bank shares in December whether NSE likes it or not.

Why wait till December, why not start watching for from now, when it starts trading below N1 (sorry those that have it in portfolio) you begin to buy, cos i have a hunch you may even get it cheaper before that December if they do not have any positive news to cushion all these negativity trailing them now.

Why Agba posts, When Saraki has declared his intention

Yes, it is a refund, not a fine, but when the money is refunded, it would be subjected to tax, which I believe MTN wants to escape.

Mpeace:
Its not like CBN is saying they should pay $8billion oh. CBN only wants them to return the money back to nigeria. When returned, the money will still belong to mtn. They will now be required to follow due forex process in taking it out of the country.

Mpeace:
Its not like CBN is saying they should pay $8billion oh. CBN only wants them to return the money back to nigeria. When returned, the money will still belong to mtn. They will now be required to follow due forex process in taking it out of the country.

And @rebekah2011

Thank you for the correction, i meant to say they may not want to return the money.