A former MTN employee, Mr. Paul Odunewu, is pushing the Court of Appeal to compel the telecommunications giant to deposit a $13 million judgment debt and accrued interest. The dispute stems from Mr. Odunewu’s wrongful termination in 2006, which the National Industrial Court (NICN) ruled in his favor in 2017.
Key Points:
- Mr. Odunewu claims MTN’s appeal is a “delay tactic” and seeks immediate payment of the judgment sum.
- MTN argues it has financial capacity and denies claims of asset depletion or repatriation.
- Both sides have presented financial records and legal arguments to support their positions.
The Saga:
- In 2006, MTN terminated Mr. Odunewu’s employment.
- In 2017, the NICN ruled the termination was wrongful and awarded him $13 million in compensation, including share options.
- MTN appealed the ruling and filed a motion to stay execution of the judgment.
- Mr. Odunewu counters that MTN’s appeal is flawed and seeks immediate payment of the judgment sum.
MTN’s Defense:
MTN claims it has the financial means to pay the judgment and denies Mr. Odunewu’s allegations of asset depletion or repatriation. They argue:
- The 2015 NCC fine has been fully paid.
- MTN Nigeria is profitable and declares dividends.
- The 2021 audited financial statements show strong revenue and profit.
Odunewu’s Concerns:
Mr. Odunewu remains skeptical of MTN’s financial stability and argues:
- MTN Nigeria faces ongoing investigations for tax and revenue issues.
- The company’s recent financial statements may not reflect potential future liabilities.
- MTN’s debt burden raises concerns about its ability to pay the judgment.
Court to Decide:
The Court of Appeal will determine whether to order MTN to deposit the judgment sum or provide a bank guarantee. The decision could have significant implications for both parties and potentially set a precedent for similar cases.
Your voice deserves to be heard! Share your story or promote your brand with us. Call/WhatsApp: +2347067198368.