NIGERIA — Court documents showed that Multichoice Nigeria Limited paid N7.9 billion (N7,914,209.196.50) to Mr Giwa, the currency exchange broker, who in turn made payments to JNFX Limited, a currency exchange firm, under the MultiChoice contracts. Details showed that the satellite service company paid the Naira into the bank accounts of companies controlled by Mr Giwa and were then sent to bank accounts nominated by JNFX through Mr Mervyn in return for dollars to be paid into an account held at Standard Chartered Bank in London in the name of MultiChoice Africa, another company within the MultiChoice group of companies. However, no dollar payments (amounting to $16.2 million) were received by the company in return, according to Mr Giwa... premiumtimesng.com
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