MTN Plunges After Nigeria Orders Refund of $8.1 Billion Dividend

The video discusses the financial controversy involving MTN and the Nigerian Central Bank, which has ordered a refund of $8.1 billion, alleging illegal money repatriation. Despite being cleared by lawmakers previously, the issue resurfaced with the Central Bank's strong language against MTN and the banks involved. Four banks, including Citigroup and Standard Bank, face significant fines. The responsibility for returning the $8.1 billion remains unclear, with many questions unanswered.

What is the main reason for the decline in MTN's stock to a nine-year low?

• A major technological failure in MTN's network.

• A global economic downturn.

• Allegations of illegal money transfer by the Nigeria Central Bank.

• A new competitor entered the market.

When did the allegations against MTN first surface?

• Three years ago

• Five years ago

• Two years ago

• Last year

Which of the following banks is NOT implicated in the MTN transaction issue?

• Citigroup

• Diamond Bank

• HSBC

• Standard Bank

What is the total amount of fines imposed on the banks involved?

• $90 million

• $120 million

• $30 million

• $60 million

What is unclear about the $8.1 billion that the Central Bank wants returned?

• The currency in which it should be returned

• Who is responsible for providing the cash

• The timeline for the return

• The exact amount to be returned