MTN one step closer to settling forex dispute

MTN and Nigeria's central bank were in talks to settle an $8.1bn dispute, their lawyers said yesterday, as a court in Lagos adjourned the matter to 12 December. As previously reported in Legalbrief Today, the dispute is over the transfer of $8.1bn of funds which the company is accused of sending abroad in breach of foreign-exchange regulations. A TimesLIVE report notes that Seyi Sowemino, a lawyer representing the bank, said the parties were in advanced stages towards the settlement. 'We just want to cross Ts and dot Is,' he told the court.