for keeping us in the sun for sim reg. They need fine for that too

Ok

MTN was use wayo. Good one for the law

I knew the court would come around given the reason why the AGF wanted to restrain their accounts. I felt it was a nice proactive move as MTN would be foolish to retain their funds in the country given the present imbroglio.

The federal government via the AGF was just faster.

bamite:
But this is sending a very wrong signal to foreign investors. How much did mtn gain from the unregistered sims compared to the outrageous fine being slammed on them?

. Then how do you explain this "someone stole #500 was slammed with 5yrs imprisonment nd anoda stole #5b was granted pardon"?

bamite:
But this is sending a very wrong signal to foreign investors. How much did mtn gain from the unregistered sims compared to the outrageous fine being slammed on them?

. Its Not about the gains but the weight of the offence ( that the security implication of their action to Nigeria )

bamite:
But this is sending a very wrong signal to foreign investors. How much did mtn gain from the unregistered sims compared to the outrageous fine being slammed on them?

Its not about what they gained. They flouted the law. If they did the same in order countries of operation will they be justified?

MTN has enjoyed the benefits of corruption. They thought they could continue to bribe their way through. Other Telecom companies obeyed NCC but MTN called their bluff.

They even had the guts to sue. The proverbial case of the thief who arrested the owner because he spared the thief

No company (indigenous or not) should disregard constituted authority in this manner.

gozmok1:
mtn Should compasate us with 10 gig with each for lyk 3months

True talk my brother, happy new year

This case is something else.

ril19:
So Empty Hen Want To Withdraw Their Money From Nigerian Banks And Then Sneak Out Of Naija Shey?

Thank God We're Smarter Than That.

MTN can not afford to leave Nigeria. They make unspeakable profit here.

bamite:
But this is sending a very wrong signal to foreign investors. How much did mtn gain from the unregistered sims compared to the outrageous fine being slammed on them?

Apparently you thought the fine came from the blues.

There was a regulation and the fine was well defined.

I guess they assumed they can always bribe their way out because this is Nigeria.

The danger of unregistered lines can not be over emphasized.

ultrazone:



http://thenationonlineng.net/n1-4tn-fine-court-bars-mtn-moving-funds-abroad/

Seems to me the Nation Newspaper has reported this piece of news wrongly.

If the court said both parties should maintain Status Quo Ante Bellum, it means that the court declined the FG's plea to impose a freeze on MTN's funds.

bamite:
But this is sending a very wrong signal to foreign investors. How much did mtn gain from the unregistered sims compared to the outrageous fine being slammed on them?

Any serious and honest investor will have to respect and honor the laws of the land and it's agreement in which they are operating.

Besides, mtn is one of the worst company investing in Nigeria with total disregard for the laws of the land. I have registered my sim, I even gave the the permission to use my bvn to update my registration but mtn still have the mind of telling me that my sim hasn't been registered

Mr Seun and Lalasticlala this is a very misleading thread. The court did not in any way bar mtn from moving funds but only said both parties shud maintain status quote until the case which mtn sued FG is heard. Stop misleading people on this site. try to vet news before putting it on fp.

gozmok1:
mtn Should compasate us with 10 gig with each for lyk 3months

lol thief u don buy 3gig data b4

Mtn should stop buying time and simply pay the fine, can they flout orders willfully as they are doing in other countries and go free? if they like, they can leave after paying.

Ijaya123:
Good. MTN can only run, they can't hide.

Sooner than later, they will pay the fine. Infact, I expect NCC to revert back to the initial sum of N1.4tr.

Enough of their display of shameless boldness in this country.

Yes the fine is now back to 1.04trn

www.punchng.com/n1tn-fine-court-rejects-application-to-seize-mtns-funds/

bamite:
But this is sending a very wrong signal to foreign investors. How much did mtn gain from the unregistered sims compared to the outrageous fine being slammed on them?

Why are we like this, when we let anything and everything goes in this country and wen some people are trying to put things right we cp\complain

missKiffy:

Why are we like this, when we let anything and everything goes in this country and wen some people are trying to put things right we cp\complain

Hope u're satisfied when thousands of your fellow nigerians lose their jobs when they decide to close shop. Unreasonable ego is what is disturbing you

MTN Sha, they shld just settle FG for once na.
A Nigerian company cannot do this in SA

bamite:
Hope u're satisfied when thousands of your fellow nigerians lose their jobs when they decide to close shop. Unreasonable ego is what is disturbing you

They should settle FG for once, the law must take its course. It is a deliberate attempt

bamite:
But this is sending a very wrong signal to foreign investors. How much did mtn gain from the unregistered sims compared to the outrageous fine being slammed on them?

Would they have done that in their country of origin? or anywhere else in the world except naija.

They should face the music and the only signal it will give is that all intending investors should know its not business as usual

bamite:
But this is sending a very wrong signal to foreign investors. How much did mtn gain from the unregistered sims compared to the outrageous fine being slammed on them?

Aside from sending the wrong signal, this is pure madness! Why must MTN be the one to finance the deficit in our Missing Budget Of Yams?!

bamite:
Hope u're satisfied when thousands of your fellow nigerians lose their jobs when they decide to close shop. Unreasonable ego is what is disturbing you

People need to understand that this fine is DESTRUCTIVE to Nigerians and beneficial only to certain Government officials?!


All the fines NCC has been fining GSM companies in Nigeria, what have they done with it that benefitted you and I?!

If MTN is forced to pay this outrageous fine, it will be the HIGHEST FINE EVER PAID BY ANY CORPORATE BODY!

Up to half of their staff could be sacked, almost all their contractors will be disengaged, their network which direly needs to improve will actually remain the same, or even get worse. Businesses which rely on mobile connectivity and data will suffer. POS and ATM transactions will worsen.


ARE YOU PEOPLE NOT LOOKING AT THE BIGGER PICTURE?!

247notire:
Mr Seun and Lalasticlala this is a very misleading thread. The court did not in any way bar mtn from moving funds but only said both parties shud maintain status quote until the case which mtn sued FG is heard. Stop misleading people on this site. try to vet news before putting it on fp.

Very misleading thread. I actually posted the accurate information on Nairaland. FG applied to to freeze MTN accounts, but the courts said no! How does this article now convey this?!

MTN has always repatriated it's funds, therefore when the court rejects the FG's application to freeze MTN's accounts and maintain status quo, it means MTN should continue to run it's accounts and repatriate its funds.

nex:




People need to understand that this fine is DESTRUCTIVE to Nigerians and beneficial only to certain Government officials?!


All the fines NCC has been fining GSM companies in Nigeria, what have they done with it that benefitted you and I?!

If MTN is forced to pay this outrageous fine, it will be the HIGHEST FINE EVER PAID BY ANY CORPORATE BODY!

Up to half of their staff could be sacked, almost all their contractors will be disengaged, their network which direly needs to improve will actually remain the same, or even get worse. Businesses which rely on mobile connectivity and data will suffer. POS and ATM transactions will worsen.


ARE YOU PEOPLE NOT LOOKING AT THE BIGGER PICTURE?!

Good to know we still have right thinking people like you. When corrupt politicians are arrested, people will be quick to jump on the streets to protest but when the government takes an anti people action such as this, they begin to claim patriotism.

yomexp:
The guy ( mtn CEO) was a former director in NCC. He thought it was still business as usual, forgetting that this administration will not condole impunity. He probably thought he Could muscle his way or bribe a few people and the matter will be swept under the carpet but sorry sir things have changed here Oga CEO .

Lies!

Sorry ke, don't be sorry, mtn is a grade one fraudulent company.

THIS IS THE CORRECT STORY! THE SAHARA REPORTERS SORY IS A FRAUD!!! THE NATION'S STORY IS A LIE!!! OBVIOUSLY, THERE ARE HANDS PULLING THE STRINGS FROM ABOVE.

Seun, Obinoscopy, Lalasticlala

nex:
A Federal High Court in Lagos on Tuesday turned down an application of mareva injunction seeking to bar MTN Nigeria Communications Limited from emptying its accounts in 21 commercial banks in Nigeria.


The application had been filed to prevent MTN from boycotting the payment of the N1.04tn fine imposed on it by the Nigerian Communications Commission for its failure to deactivate its unregistered subscribers.
The Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN), who filed the application on Tuesday, had expressed the fear that MTN could move all its funds out of the country before the N1.04tn fine could be enforced.




He had sought an order directing all the 21 banks to open a special interest-yielding account in the name of the Chief Registrar of the Federal High Court and move N1.04tn out of whatever funds that was standing to MTN’s credit in their possession.


The counsel for the AGF, Mr. Dipo Okpeseyi (SAN), in a 14-paragraph affidavit deposed to by his junior, Steve Nwabueze, had argued that MTN was in the habit of regularly repatriating its funds out of Nigeria.


He noted that between October 2007 and May 2009, a period of 19 months, MTN moved over $7.7bn of the money made in Nigeria to a foreign account.


He further pointed the court’s attention to an instance when in one day, specifically on February 8, 2008, MTN transferred over $936m out of Nigeria to accounts in Mauritius, Cayman Island and British Virgin Island.


“Unless this honourable court urgently entertains this application, the plaintiff/respondent would move its funds out of Nigeria, being the jurisdiction of this honourable court, and thereby frustrate the enforcement of the fine in the likely event that this honourable court sanctions the imposition of the fine,” the AGF’s counsel added.


Okpeseyi maintained that MTN was under an obligation to pay the N1.04tn fine, because it was NCC’s administrative decision, which remained final unless it was reviewed by the commission or nullified by the court.


He said though NCC had earlier given MTN a concession on the fine and reduced it to N780bn, but since MTN had neglected or failed to pay on or before December 31, 2015, the fine remained N1.04tn.


He alleged that instead of taking advantage of the concession MTN resorted to filing a suit in order to buy time, with the hope that it could move all its funds out of Nigeria before the case would be decided.


Okpseyi urged the court to grant the application in the interest of justice to prevent the court’s decision from being rendered nugatory if it went in the favour of NCC and AGF.

But Justice Idris Mohammed turned down the application as he said the AGF had not shown enough facts to prove that MTN was about to empty its bank accounts and move its funds out of the country.
Idris, who noted that the case was sensitive and of public interest, said he would rather urgently hear the case filed by MTN to challenge the fine and give a judgment within a short time.


He, however, made an order for the parties to maintain status quo ante bellum pending the determination of the suit and adjourned till January 22, 2016 for hearing.
MTN had assembled seven Senior Advocates of Nigeria, led by Chief Wole Olanipekun, to challenge the N1.04tn fine imposed on it by NCC.


The company contended that NCC could not act pursuant to Section 70 of its establishment Act to impose the fine on it.

But Malami, who took sides with the NCC and justified the imposed fine, said it was his duty, as the chief law enforcement officer in the country, to ensure that all the laws made by the National Assembly are obeyed.



SOURCE: http://www.pmnewsnigeria.com/2016/01/12/court-bars-fg-from-freezing-mtn-bank-accounts

Guardian and Channels both say that this story is not true.

What is happening here?

Alore:


Lies!

I know you are a slowpoke. Here is the link to his profile http://sunnewsonline.com/new/mtn-gets-first-nigerian-ceo/