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MTN Nigeria Bleeds $54-Million to Shady Bank Transfers - IT News Africa - Up to date technology news, IT news, Digital news, Telecom news, Mobile news, Gadgets news, Analysis and Reports

Nigeria’s largest telecom firm, MTN Nigeria and MTN’s leading subsidiary in terms of sheer number of subscribers, has taken 18 banks in Nigeria to court over an alleged series of unauthorised transfers to the tune of $53.7-million. The shady transfers were from an account reportedly owned by its mobile payment service bank (PSB) MoMo, which […]
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Nigeria: MTN Bank wrongfully transfers ₦22.3 billion to 8,000 customers

MTN Nigeria’s newly licensed Mobile Money Payment Service Bank Limited (MoMo PSB) has dragged 18 Nigerian banks to court to retrieve ₦22.3 billion (US$53.7 million plus) it mistakenly transferred to 8,000 accounts in those banks. Court filing in suit No. FHC/L/CS/960/2022 instituted by MTN Mobile Money Bank against 18 banks…
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