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Tips On How MTN Can Survive The NCC Fine - Business (3) - Nairaland

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Re: Tips On How MTN Can Survive The NCC Fine by Nobody: 1:30pm On Nov 09, 2015
dahmie2013:
Op, dats very sound. MTN shud even employ u, but a quick questn, are u saying MTN shud do a prior year adjustment 4rm 2012 cos of dis fine?

Exactly, for the sake of accounting, the reversal in the books is imperative, otherwise the recovery time would take more than five years (N200bn per annum or 2015 - 2019). Unfortunately, this hit would have been avoided if it had complied with the directive in 2012 (period of notice)
Re: Tips On How MTN Can Survive The NCC Fine by babadee1(m): 1:32pm On Nov 09, 2015
If at all MTN is going to pay the full fine then it will have to be a structured payment over a period of some years. They cannot pay all that money at once and still survive in the Nigerian market.
Re: Tips On How MTN Can Survive The NCC Fine by Evidence1000(m): 1:40pm On Nov 09, 2015
Nicolars:
Op. I tynk u suld b telling MTN this and not us
gbam!!!!!
Re: Tips On How MTN Can Survive The NCC Fine by dahmie2013: 2:23pm On Nov 09, 2015
Keneking:


Exactly, for the sake of accounting, the reversal in the books is imperative, otherwise the recovery time would take more than five years (N200bn per annum or 2015 - 2019). Unfortunately, this hit would have been avoided if it had complied with the directive in 2012 (period of notice)

I don't think dat will be right, dey ought 2 recognise it as a liablity 4rm last month wen d fine was imposed. Doing a prior year adjustment will be a mis-representantn of d acct. When d fine is paid, it shud den be amortized over a period of say 5yrs, 2 cushion d effect on d profitablity. But dey might have cashflow issues i.e negative net cashinflow/outflow, cos dat can't be amortized.
Re: Tips On How MTN Can Survive The NCC Fine by Nobody: 2:28pm On Nov 09, 2015
dahmie2013:


I don't think dat will be right, dey ought 2 recognise it as a liablity 4rm last month wen d fine was imposed. Doing a prior year adjustment will be a mis-representantn of d acct. When d fine is paid, it shud den be amortized over a period of say 5yrs, 2 cushion d effect on d profitablity. But dey might have cashflow issues i.e negative net cashinflow/outflow, cos dat can't be amortized.

Agreed the principle is okay. However, the books would not be fine if they go ahead to apply the fine (committed in year 2012) in year 2015. Adjustments would be made and yes, i agree it would affect earnings. However, it would be fair for the health of the company if the amortization period (five years) is taken 2012 - 2016 vs. 2015 - 2019 or ten-year plan to cushion the impact.
Re: Tips On How MTN Can Survive The NCC Fine by marv1: 2:37pm On Nov 09, 2015
bettercreature:
That fine is too much,even world richest banks that manipulated and rigged currency trading did not pay up to $5billion as fine
MTN must not pay this money its just TOO MUCH,they can not even afford it tho
What is ur own problem? When they know they cant pay, why did they flout the law they are signatory to? People like want illegality to continue because of sentiment.

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Re: Tips On How MTN Can Survive The NCC Fine by dahmie2013: 2:54pm On Nov 09, 2015
Keneking:


Agreed the principle is okay. However, the books would not be fine if they go ahead to apply the fine (committed in year 2012) in year 2015. Adjustments would be made and yes, i agree it would affect earnings. However, it would be fair for the health of the company if the amortization period (five years) is taken 2012 - 2016 vs. 2015 - 2019 or ten-year plan to cushion the impact.

I get u, but dat will be total accounting engineering. If dey back date dat, then what happens 2 d cash flow statement, are dey going 2 back date dat also?
Re: Tips On How MTN Can Survive The NCC Fine by Flye: 4:24pm On Nov 09, 2015
vooks:
RSA the most powerful and developed economy in Africa will intervene and the fine will be reduced to a fraction, at most a tenth of this.

Let's be honest. The fine has nothing to do with breach but pure m0ronic envy by Nigeria of the multinationals

I guess that arrogance of MTN that made it to disregard our national law is still in you, let me announce to you that gone are the days our usless lawmakers and director of regulatory agencies will receive bribe to to circumvent the law for SA companies and look other ways when ever they breach our laws. A new sheriff is in town and all those things will not be tolerated again.

B4 all the attrocities MTN and DSTV had commited are against the masses so the corrupt super Nigerians looks other way but now, the security breach put them in danger and the super Nigerians are the target of kidnapers using unregistered MTN sims therefore they act quickly.
Re: Tips On How MTN Can Survive The NCC Fine by tck2000(m): 9:09pm On Jan 10, 2020
Mutuwa:


12 midnight. grin

MTN came to Nigeria at a time when nobody wanted to invest in Nigeria, at a time when Nigerians did not have phones. Even Zenith Bank refused to loan MTN cash to operate, UBA rejected MTN's offer but today see the difference.

What about Cowbell? When they came to Nigeria, they made milk in a sachet,Peak was laughing at them - they said Cowbell was milk for the poor but they were right! 3-million poor people could afford N10 a day for a sachet of milk.Oya, do the math - 3 million people buying milk at N10.00- that was N30 million every single day. In a month they grossed N900 million (almost N1billion).

Even Peak had to make sachet milk in order to survive in the market. So what have people told you? What have they said you cannot do, or you do not qualify for, or you do not have experience for?

They told Cowbell, they told MTN, but today the story has changed. I have a feeling something is changing for you today!

They will change their strategies just to keep in step with you.

Don't listen to what people are saying or what life is showing you.YES, YOU CAN.

Success is not about where you graduated from, or what grade you graduated with, but what graduates out of you. Keep the spirit UP..

BE INSPIRED GREAT PEOPLE

~Babangida Ruma~

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