8 1bn repatriation cbn mtn settle out of court

It appears that you're referring to a news article or a financial transaction involving the Central Bank of Nigeria (CBN), MTN, and a repatriation of $8.1 billion.

Here's a brief summary:

In 2020, the Central Bank of Nigeria (CBN) accused MTN, a South African telecommunications company, of illegally repatriating $8.1 billion from Nigeria between 2007 and 2015. The CBN claimed that MTN failed to comply with foreign exchange regulations, leading to the alleged illegal transfer of funds.

As a result, the CBN imposed a fine of $8.1 billion on MTN, which was later reduced to $2 billion. MTN disputed the allegations and the fine, arguing that it had complied with all relevant regulations.

In October 2022, it was reported that MTN and the CBN had reached an out-of-court settlement, with MTN agreeing to pay a reduced fine of $53 million. The settlement was seen as a significant development, as it brought an end to a long-standing dispute between the two parties.

The repatriation of $8.1 billion by MTN was a major controversy in Nigeria, with many Nigerians calling for the company to be held accountable for its actions. The dispute highlighted the importance of transparency and compliance in international business transactions, particularly in the context of foreign exchange regulations.

It's worth noting that the exact details of the settlement and the terms of the agreement between MTN and the CBN are not publicly disclosed, as the parties involved have maintained confidentiality.