MTNN Owes $72.5m

Pay the Federal Inland Revenue Services (FIRS) $72,551,059 million tax default.

The five-person panel led by Professor Abubakar Hamed, however, declined to impose penalties and interest on the principal sum of $21,039,807 million on the telecommunication firm as requested by FIRS.

The panel made the declaration and order while delivering judgment in an appeal numbered TAT/LZ/VAT/075, filed by the telecommunication company against the demand by the FIRS to pay the default.

Other panel members were Barrister P. A. Olayemi, Barrister Babatunde Sobamowo, Barrister Samuel N. Ohwerhoye, and Barrister Terzungwe Gbakighir.