MTN Group Ltd. is close to reaching a $800 million settlement with Nigerian authorities over a claim it illegally transferred $8.1 billion funds out of the country, according to a person familiar with the situation.
A deal hasn’t been signed and could yet fall through, said the person, who asked not to be identified as the talks are ongoing. The story was first reported on Wednesday by Lagos-based Punch newspaper.
“MTN Nigeria continues to engage with the relevant Nigerian authorities to ensure a mutually acceptable resolution of the matter,” a spokesman for Africa’s largest wireless carrier by sales said in an emailed statement on Wednesday. The Nigerian central bank and presidency declined to comment.