MTN says $10.1Bn Sanction Makes Listing On NSE challenging      

A $10.1 billion demand by Nigerian authorities from South African
telecoms group MTN may make its planned debut listing  on the Nigeria
Stock Exchange, NSE, “pretty challenging and awkward”.
The MTN’s group’s chief financial officer, Ralph Mupita who made this
known on Wednesday said preparation of the company’s the initial
public offering (IPO) prospectus is far advanced,  and would be
hampered by the CBN demand .
Nigeria’s central bank has asked MTN to repatriate $8.1 billion in
monies sent abroad, claiming the funds were sent without proper
certification. The company is also facing a $2 billion tax demand.