Markets

MTN Disputes Ruling on N4.83bn Employee Compensation

  • MTN Disputes Ruling on N4.83bn Employee Compensation

MTN Nigeria has said it will approach a higher court for justice to be served in the case between it and a former employee, Paul Odunewu.

The National Industrial Court of Nigeria, Akure, in a judgement by Justice Oyejoju Oyewunmi, had ordered MTN Nigeria Communications Limited and MTN International, Mauritius to pay the former Network Group Operations Manager, Odunewu, a sum of N4,825,036,735.9 as compensation for wrongful termination of employment.

In a statement on Monday, the General Manager, Corporate Affairs, MTN Nigeria, Omasan Ogisi, said following the review by the company’s legal partners, it had approached a higher court requesting that the decision of the industrial court be set aside.

Ogisi stated that the telecoms company noticed that there were critical elements of the case, which were not fully considered by the lower court before taking its position.

“We can confirm that the National Industrial Court took a position, which we consider detrimental to our interests in a suit filed by a former employee. The court’s position has been reviewed by our internal and external counsels,” Ogisi said.

She added that the company was confident that the outcome at the superior court would be different and that justice would not only be done, but would be seen to be done in the case.

Ogisi maintained that MTN treated all its employees fairly, as captured in the details of its employment contracts.

According to her, the situation is no different as the most basic commitment MTN made to customers, shareholders, and workers is to conduct itself in an ethical, honest and respectful manner.

Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Share
Published by
Samed Olukoya

Recent Posts

Tolaram Group Drives Guinness Nigeria to First Profit in Six Months Post-Takeover

Guinness Nigeria Plc has reported a pre-tax profit of N20.1 billion for the second quarter…

12 minutes ago

FirstBank’s FirstGem: Redefining Women’s Empowerment in Nigeria

The story of women’s contribution to Nigeria’s economy is as old as the nation itself. …

39 minutes ago

UBA to host Knowledge Series Webinar on New Tax Regime for SME’s

Africa’s Global Bank, United Bank for Africa (UBA) Plc, is set to host a Knowledge…

53 minutes ago

Moniepoint Partners With Visa to Expand Financial Services for African Businesses

Moniepoint Inc., a leading financial platform in Nigeria, has announced a partnership with Visa, a…

4 hours ago

Ecobank and CrediCorp Launch Affordable Loan Programme for Salary Earners

Ecobank Nigeria, in partnership with the Nigerian Consumer Credit Corporation (CrediCorp), has unveiled an innovative…

5 hours ago

Wema Bank Completes N40 Billion First Tranche, Eyes N200 Billion Final Capital Raise

Wema Bank Plc has announced plans to complete its capital raise with a combination of…

6 hours ago