MTN denies wrongdoing following Cameroon's tax claim

South Africa's MTN Group said on Thursday it was compliant with Cameroonian laws, a day after the central African nation said the mobile phone company owes money in taxes.
Cameroon's National Anti-Corruption Commission (CONAC) said on Wednesday the local units of MTN and France's Orange owed Cameroon nearly $166 million in unpaid taxes.
"MTN Cameroon is not and has never been implicated in corruption-related actions, in the exercise of its activities," MTN said in a statement.
Cameroonian authorities have also accused MTN of benefiting from illegal tax breaks worth nearly $40 million.
"It is our position that we are in full compliance with these tax matters," MTN spokesman Chris Maroleng told Talk RadioMTN is already contesting a $3.9 billion fine in Nigeria for failing to disconnect users with unregistered SIM cards, which can be used for criminal activity - a growing concern in Nigeria given the threat of militant Islamist group Boko Haram.
MTN, Africa's largest mobile operator, gets about 37 percent of its revenue from Nigeria.
Shares in MTN dropped 5.1 percent to 111.62 rand, lagging a 0.6 percent fall in the benchmark JSE Top-40 index.