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Nairaland Forum / Nairaland / General / Business / Court Bars MTN From Moving Funds Abroad (20189 Views)
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Re: Court Bars MTN From Moving Funds Abroad by Excelinpages(m): 10:26am On Jan 13, 2016 |
Obviously there is a bigger hidden agenda somewhere behind all these. Sahara reporters - those guys should beware o. Who really get to enjoy, despite the taxes MTN has paid and all the poor regulation NCC has regulated. nex: 1 Like |
Re: Court Bars MTN From Moving Funds Abroad by nworanco(m): 10:28am On Jan 13, 2016 |
bamite: American govt do slams on any defaults company more than this, okay. With these other companies irrespective of their fields will render good and quality services to people of Nigeria. |
Re: Court Bars MTN From Moving Funds Abroad by Nobody: 10:30am On Jan 13, 2016 |
I hate this network. Mtn are criminals |
Re: Court Bars MTN From Moving Funds Abroad by rockyh(m): 10:39am On Jan 13, 2016 |
bamite:av u hrd d sayin the stubborn fly follows the dead body to the grave. That's wat mtn is facing now cos they were not the only one fined others paid but they refused cos of the backing they enjoy |
Re: Court Bars MTN From Moving Funds Abroad by ceejay80s(m): 10:44am On Jan 13, 2016 |
bamite:Foreign investor come from foreign land and u can't try that in their country, u have to oblige by their rule in their country or face sanction, so they shouldn't try it here with us |
Re: Court Bars MTN From Moving Funds Abroad by CharlyNick: 10:49am On Jan 13, 2016 |
MTN is just taking Nigeria for granted. It's proper for them to challenge the order in Court probably for reduction in the figure, but I thought they shouldnt have allowed it get to this stage. This is negligence on their part. |
Re: Court Bars MTN From Moving Funds Abroad by Goke7: 11:19am On Jan 13, 2016 |
The lawyers advising MTN are scammers, they will rip them of money and they will still pay the fine, MTN miscalculated by going to the courts, this govt has its way around the courts and mtn won't be an exception. |
Re: Court Bars MTN From Moving Funds Abroad by nex(m): 11:24am On Jan 13, 2016 |
Chxta: It seems the same Government which has said the Press should investigate properly in order to tell the people the truth, also has agencies which are using the same Press to tell lies! All in a bid to balance it's budget with this MTN fine, our government has entered "roforofo" fight. |
Re: Court Bars MTN From Moving Funds Abroad by nex(m): 11:27am On Jan 13, 2016 |
CharlyNick: They have already challenged it in court. It is the Federal Government that is now attempting to freeze their account. MTN has always repartiated its profits abroad. This was what Government agreed to allow them do. Now the same Government wants to go around flouting the same agreement. |
Re: Court Bars MTN From Moving Funds Abroad by wolexf(m): 11:54am On Jan 13, 2016 |
Registration of citizens is more of the Federal Govt's responsibility. In sane societies government registers its citizens and issue a unique identification number to them like the social security number in America, they don't rely on private companies for that. All MTN should have had to do is to ensure all numbers have their national identification numbers appended. FG has awarded several contracts for identification that have not yielded any fruit with several billions of tax payers money down the drain. Even NCC collected 6 billion taxpayers money for registration and didn't have anything to show for it. I don't thinks it's fair to hang security challenges on a private company like MTN and slam such an outrageous fine on them, when government failed in its own responsibility of having record of all its citizens |
Re: Court Bars MTN From Moving Funds Abroad by kcplay: 11:58am On Jan 13, 2016 |
dammytosh: Should unregistered lines be over emphasized than #Dasukigate, Corruption of our Service chiefs and leaders. I guess not. There is corruption in the land no doubt. An irresponsible father would not kill his child because he wants to correct the child. The fine is as high as the revenue you want as a Nation. That is way too high. |
Re: Court Bars MTN From Moving Funds Abroad by kcplay: 12:06pm On Jan 13, 2016 |
wolexf: You surely understand what ought to have been done in a sane society. It is completely an irresponsible action and negligence of responsibility from the part of government to outsource the national identification of its citizens to companies outside Federal Govt's parastatals. The banks and Telecommunication companies should be the ones linking up to our National Identification Security Numbers database not our government doing vice versa. But in the past they have done it several times and corrupt leaders have messed it up and no fine or arrest was done. |
Re: Court Bars MTN From Moving Funds Abroad by kcplay: 12:12pm On Jan 13, 2016 |
nworanco: Don't argue without facts. No Company in the world has been fined at this ridiculous rate before. When a company is fined at a high rate the Government spreads the fine unlike NCC demanding payment within a month. February 2015 Qualcomm was fined $975million Qualcomm revenue is $25billion % Of fine to revenue is 4% Payment period more than 1yr November 2012 BP was fined $20billion BP revenue is $250billion % Of fine to revenue is 8% Payment period 18yrs 2013 Hyundai Motors fined $300million Hyundai revenue $210billion % Of fine to revenue is 0.14% 2015 MTN Nigeria fined $3.92billion MTN Nigeria revenue $4.9billion % Of fine to revenue is 78% Payment period 1month |
Re: Court Bars MTN From Moving Funds Abroad by dammytosh: 12:13pm On Jan 13, 2016 |
kcplay: You are not getting it. The amount on the fine has been SET a long time before MTN were caught culpable. MTN is aware of the rules and regulation so why shift goal post ? Leave that 'killing of child' proverb for LAWMA. |
Re: Court Bars MTN From Moving Funds Abroad by dammytosh: 12:16pm On Jan 13, 2016 |
kcplay: Probably no company in the world knew the fine per breach and still went ahead and went that far ! The fine was not conjured by NCC. It is a standing RULE and REGULATION. Per unregistered line, you pay x amount. So if MTN folded their arms and waited for unregistered line to be that much, that is their business. |
Re: Court Bars MTN From Moving Funds Abroad by kcplay: 12:19pm On Jan 13, 2016 |
APCsupporter: It is not MTN who took this country for granted. #DASUKIGATE shows the world our we don't love each other as a country. |
Re: Court Bars MTN From Moving Funds Abroad by Almultma27: 12:23pm On Jan 13, 2016 |
Only foreign investor with the intention of impunity will be scared by this kind MTN fine. The fine is a way to tell all serious investors that if they must do business in Nigeria, the right things must be done always & not anything goes as it used to be. If it were before they will just bribe certain judges with as little as 20-50billion and case will be close. Abeg MTN pay your fine cos Nigeria need all the money she can get. God bless Nigeria!!! bamite: |
Re: Court Bars MTN From Moving Funds Abroad by kcplay: 12:24pm On Jan 13, 2016 |
dammytosh: That is why in business. You have the right to go to court. If you remember few years ago. FRSC gave an ultimatum to car owners to change their license plates or their cars will be forfeited. It was an individual who took FRSC to court and he won. So even if you tell me to pay x amount, I have the right to challenge that amount in court. 1 Like |
Re: Court Bars MTN From Moving Funds Abroad by dammytosh: 12:37pm On Jan 13, 2016 |
kcplay: That is a different case and besides, you will challenge the amount before breaching not after breaching. That is what we are saying. Immediately NCC inserted the fine, they should have gone to court to say , this is not reasonable given xyz. That man did not wait for months after implementation of the LAW, police arrested him and he went to court. He went right away. |
Re: Court Bars MTN From Moving Funds Abroad by OohLalah(f): 12:49pm On Jan 13, 2016 |
Reptyle: Hahahaha! I am laughing so hard at the intelligent Nigerians that cannot comprehend a simple sentence. They are celebrating MTN's victory stupidly thinking its their FG's victory. To think that even a nation wide news paper interpreted this wrongly, is a major embarrassment. Coupled with the fact that Majority of Nairalanders are dumb as door knobs says a ton about Nigeria. # FACT! ![]() ![]() ![]() |
Re: Court Bars MTN From Moving Funds Abroad by OohLalah(f): 12:52pm On Jan 13, 2016 |
247notire: ![]() ![]() ![]() ![]() That's what hate, envy and jealousy does! It makes people blind to facts. ![]() ![]() ![]() ![]() |
Re: Court Bars MTN From Moving Funds Abroad by nex(m): 12:54pm On Jan 13, 2016 |
nworanco: THERE IS NO COUNTRY IN THE HISTORY OF HUMANITY THAT HAS EVER PAID A FINE UP TO $5.2 BILLION!!!! NEVER! NEVER EVER!!! You can't just fetch fantastic figures out of thin air and slam them on private organizations all in the name of regulations. Fines are meant to be corrective, not destructive. MTN doesn't make up to $5.2 billion (N1 trillion) in a year! |
Re: Court Bars MTN From Moving Funds Abroad by kcplay: 1:07pm On Jan 13, 2016 |
OohLalah: Lol...it makes people not to be objective. 1 Like |
Re: Court Bars MTN From Moving Funds Abroad by OohLalah(f): 1:15pm On Jan 13, 2016 |
Re: Court Bars MTN From Moving Funds Abroad by tiwasiaife(m): 1:31pm On Jan 13, 2016 |
ziccoit: U expect Mtn to obey while FG has been disobeying court orders. Set a good example and see people follow |
Re: Court Bars MTN From Moving Funds Abroad by Alore: 1:43pm On Jan 13, 2016 |
yomexp: Does having "a stint in NCC" means being a Director in NCC to you, oh wise one? You think a Director in NCC will come to MTN to be offered a Regulatory Advisor position? He worked in NCC but not one of the Directors. |
Re: Court Bars MTN From Moving Funds Abroad by OohLalah(f): 3:23pm On Jan 13, 2016 |
247notire: Ban for what you fagg? You go around insulting people for no reason and when they turn the tables on you, you run to report? Never ever try you madness on me again. Looser! ![]() |
Re: Court Bars MTN From Moving Funds Abroad by Lakeland4321: 3:24pm On Jan 13, 2016 |
nex:Stop misleading people, atms and pos are run by banks and interswitch. there are competent firms in nigeria that will replace mtn if they ship out, they brought this fine upon themselves out of their own treachery which backfired spectacularly. Every SA and foreign business forums backed NCC and condemned mtn. For once we are right here and i will even support flouting court orders to backslap them to Zululand. |
Re: Court Bars MTN From Moving Funds Abroad by austinvsb1(m): 3:32pm On Jan 13, 2016 |
nex: What a load of crap!! When will Nigerians start thinking like intelligent humans?! |
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