MTN Hires 15 Lawyers To Challenge $8.1bn Demand By CBN

* Court Adjourns Case Between MTN and CBN to December
4

The Federal High Court in Lagos has fixed December 4, 2018, for
hearing in the suit filed by MTN Nigeria Communications Limited to
challenge the $8,134,312,397.63 being demanded by the Central Bank
of Nigeria over the alleged forex remittances.

At the Tuesday proceedings in the case, MTN was represented by
Chief Wole Olanipekun (SAN), who led 14 other lawyers, including
Prof Fabian Ajogwu (SAN), Damian Dodo (SAN), Adeniyi Adegbonmire
(SAN), and Mr Bode Olanipekun (SAN).

On the CBN legal team were Messrs Seyi Sowemimo (SAN) and
Ademola Akerele (SAN).

The Attorney General of the Federation, Abubakar Malami (SAN),
who was joined as the 2nd defendant in the suit was absent and was
not represented in court.

While adjourning the suit till December 4, 2018, for the hearing
of all pending applications, Justice Saliu Saidu directed that
hearing notice should be served on the Attorney General of the
Federation.

L-R: Mr Adeniyi Adegbonmire, SAN;
Mr Damian Dodo, SAN; Chief Wole
Olanipekun, SAN; Prof. Fabian Ajogwu, SAN and Mr Olabode
Olanipekun, SAN
after a court hearing between MTN and the Central Bank of Nigeria
at the
Federal High Court, Lagos.

In the suit, marked FHC/L/CS/1475/2018, MTN is seeking a court
declaration that it is “not liable to refund $8,134,312,397.63 to
the coffers of the 1st defendant (CBN) premised on the decisions
reached in the 1st defendant’s letter of 28/8/2018.”

The telecommunications giant is urging the court to declare that
that “the 1st defendant’s decision in its letter of August 28, 2018
with Ref No GBD/GOV/COM/DGF/118/121 addressed to the plaintiff and
titled, ‘Investigation into the remittance of foreign exchange on
the basis of the illegal capital importation certificates issued to
MTN Nigeria Communications Limited’ was reached in breach of the
plaintiff’s right to fair hearing.”

The firm wants Justice Saidu to hold that the CBN “lacks the
power to determine the civil obligations or penal liabilities of
the plaintiff.”

It is urging the court to declare that the CBN acted ultra vires
its statutory powers when it wrote the August 18 letter to it
demanding a refund of $8.1bn.

The firm wants the court to hold that the $8.1bn demand was
“illegal, oppressive, abusive, unauthorised and
unconstitutional.”

It also wants the court to void the September 3, 2018, letter
written to it by the AGF demanding $8.1bn as “penalties for the
offence of ‘infraction of forex remittances’.”