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Nairaland Forum / Nairaland / General / Politics / $5.2 Billion Fine On Nigerian Firm Is World's Largest (1313 Views)
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$5.2 Billion Fine On Nigerian Firm Is World's Largest by moderation2020: 8:13pm On Nov 19, 2015 |
LAGOS, Nigeria (AP) -- Nigeria's fine of $5.2 billion against MTN, Africa's largest telecommunications company, is billions more than any company has been hit with anywhere in the world and may scare off investors, analysts say. MTN was fined for having 5.2 million active but unregistered SIM cards. The cards are a matter of national security as they can be used by extremists. Still, the sheer size of the penalty shocked the telecoms industry. The fine equals nearly a quarter of the 2014 national budget of Nigeria, Africa's biggest oil producer which has been hammered by the global plunge in petroleum prices and depreciated naira currency. A review of Nigeria's penalties for tax avoidance and cybercrime, and global precedent, led Strand to suggest a fine of $500 million is more fitting. Strand warned the fine could hurt foreign investment: "The question is: What is the purpose in giving a company a fine of this amount? Is it just a revenue generator for the government? I think it's a big message to send to other investors in Nigeria: Stay out of this country." 2 Likes |
Re: $5.2 Billion Fine On Nigerian Firm Is World's Largest by buckeye(m): 8:20pm On Nov 19, 2015 |
What's your source? |
Re: $5.2 Billion Fine On Nigerian Firm Is World's Largest by Warlord3000(m): 8:24pm On Nov 19, 2015 |
Who cares.... No be the same company dem hammer them for Uganda.. Why can't they just obey the rules and ethics of business environment they are operating in.. Na only dem Waka come |
Re: $5.2 Billion Fine On Nigerian Firm Is World's Largest by moderation2020: 8:24pm On Nov 19, 2015 |
buckeye:my source ran away |
Re: $5.2 Billion Fine On Nigerian Firm Is World's Largest by vanunu: 7:25am On Nov 20, 2015 |
South sudan will be better governed than nigeria in the next four yrs. When u have desperadoos as leaders, they will make a lot of mistakes. Useless govt. |
Re: $5.2 Billion Fine On Nigerian Firm Is World's Largest by idupaul: 7:29am On Nov 20, 2015 |
Warlord3000: They were fined just over 600 thousand dollars in Uganda 1 Like |
Re: $5.2 Billion Fine On Nigerian Firm Is World's Largest by idupaul: 7:31am On Nov 20, 2015 |
MTN will never pay that Bogus fine . No Company ha ever been fined that high before .. The Nigerian govt is set to make itself a laughing stork |
Re: $5.2 Billion Fine On Nigerian Firm Is World's Largest by overhypedsteve(m): 7:48am On Nov 20, 2015 |
British petroleum was fined 18billion dollars in Japan |
Re: $5.2 Billion Fine On Nigerian Firm Is World's Largest by Franzeez(m): 8:12am On Nov 20, 2015 |
1 Like |
Re: $5.2 Billion Fine On Nigerian Firm Is World's Largest by ApexTitan(m): 8:24am On Nov 20, 2015 |
overhypedsteve: Why you are lying this early in the morning? https://www.youtube.com/watch?v=seVdI6FGjk0 |
Re: $5.2 Billion Fine On Nigerian Firm Is World's Largest by bettercreature(m): 9:00am On Nov 20, 2015 |
vanunu:They have no choice,you can't imagine how much profit they are making in NIGERIA |
Re: $5.2 Billion Fine On Nigerian Firm Is World's Largest by chinchum(m): 9:17am On Nov 20, 2015 |
Franzeez:actually more than that. [size=16pt] |
Re: $5.2 Billion Fine On Nigerian Firm Is World's Largest by chris4gold(m): 9:21am On Nov 20, 2015 |
no source no comments |
Re: $5.2 Billion Fine On Nigerian Firm Is World's Largest by overhypedsteve(m): 9:22am On Nov 20, 2015 |
Franzeez:ok Na. Siddon there. You think I will give you source. Mtchwww |
Re: $5.2 Billion Fine On Nigerian Firm Is World's Largest by Franzeez(m): 3:51pm On Nov 20, 2015 |
chinchum: another lie |
Re: $5.2 Billion Fine On Nigerian Firm Is World's Largest by omenka(m): 4:08pm On Nov 20, 2015 |
moderation2020:You guys just wake up every single day and have this irresistible urge to lie. US fined Shell BP over $18billion over the oil spill in the Gulf of Mexico, but I don't expects ignoramuses whose utterances are inspired by nothing but misplaced hatred for the president. Do yourself a favour mr man: mobile.reuters.com/article/idUSKCN0RZ14A20151005 |
Re: $5.2 Billion Fine On Nigerian Firm Is World's Largest by Nobody: 7:21pm On Nov 20, 2015 |
Its simple, all you need to do is google "The biggest/Largest fine" and see what comes up. |
Re: $5.2 Billion Fine On Nigerian Firm Is World's Largest by Nobody: 7:46pm On Nov 20, 2015 |
^^Oh and while you're at it "Nigeria scares off investors" Google___________Search.^^ |
Re: $5.2 Billion Fine On Nigerian Firm Is World's Largest by johnmartus(m): 8:21pm On Nov 20, 2015 |
vanunu:UNGUIDED STATEMENT LACK OF HOME TRAINING NO WONDER MOST OF THEM LIVING IN A MISERABLE LIFE |
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