Ben Murray -Bruce Cautions NCC, Says MTN Fine Sends Wrong Signal To Investors
Senator representing Bayelsa East senatorial district Ben Murray- Bruce, has described the imposition of $5.2 billion fine on MTN Nigeria by the Nigerian Communications Commission (NCC) as a bad signal to foreign investors.

In a statement made available to Journalists in Abuja, Murray-Bruce who was named Senate Committee Chairman on Privatization, yesterday, noted that the decision will hurt Nigeria and investors coming to the country.

“The recent $5.2 billion fine imposed on MTN Nigeria by the Nigerian Communications Commission is probably the most damaging action ever taken against Nigeria’s drive for Foreign Direct Investment.

“MTN is not without fault and her actions and inactions are deserving of a strong rebuke from our authorities. However, the extent of the fine by the Nigerian Communications Commission is such that it sends a very wrong signal to foreign investors and gives them the impression that Nigeria is in a desperate financial situation due to the sudden drop in crude oil prices and wants to get alternative revenue by any means necessary.
“As a patriotic Nigerian I know this is not true. However, I know that perception is also reality.
“Foreign investors in Nigeria currently feel vulnerable and those contemplating investing in Nigeria are putting such plans on hold as their boards and management pause to take in the consequence of what just happened to MTN Nigeria.

“Many pundits point to the drop in the value of MTN shares in their home country and the temporary suspension in trading of such shares by the Johannesburg Stock Exchange.
“What is perhaps going unnoticed is that the action of the Nigerian Communications Commission has also caused a negative ripple effect on the shares of other foreign investors operating in Nigeria even though they have not flouted any of our laws and regulations.
“In the long run, the move hurts Nigeria more than it hurts MTN and may be described as cutting our nose in order to spite our face.

“I call on the Federal Government to immediately and publicly take steps to remedy the situation and restore investor confidence in Nigeria by resolving this impasse with tact with a view to our long term financial interests rather than our immediate interests,” Murray-Bruce said



source:www.informationng.com/2015/11/ben-murray-bruce-cautions-ncc-says-mtn-fine-sends-wrong-signal-to-investors.html

Agreed

think Ben may b right, but that dstv must be taught a lesson too

Lalasticlala let Nigerians see this

abi now.... make them take am softly ooo

tolexy007:

Tolexy007 I sight u, make NCC reduce the money abi na MTN dem wan take get alert niii

Let me hear what Prof. Pat Utomi has to say first.

Left to me, I see this as a way to encourage local industries.
Where is our favourite Hitv? DSTV swallowed her
NITEL? MTN broke her.
Our productive economy sectors are now being dominated by tese investors.
Our GDP will continue to look high on paper, making us to look like
a wealthy nation. But the real wealthy goes to the foreign investor
while we are left with salaries and proceeds from the contract few of us are awarded.

No wonder we are being referred to as Rich Country, Poor People.

I concur

Dis man de talk sense all the time

When we cannot compete we look for ways to blackmail others. Is that a strategy?

dason4life:
Let me hear what Prof. Pat Utomi has to say first.

Left to me, I see this as a way to encourage local industries.
Where is our favourite Hitv? DSTV swallowed her
NITEL? MTN broke her.
Our productive economy sectors are now being dominated by tese investors.
Our GDP will continue to look high on paper, making us to look like
a wealthy nation. But the real wealthy goes to the foreign investor
while we are left with salaries and proceeds from the contract few of us are awarded.

No wonder we are being referred to as Rich Country, Poor People.

Nonsense, foreign investor who will not obey our law should stay back in their country oooo. So Ben is also encouraging terrorism too? Let them pay the fine and that will send signal to those who don't obey Nigeria law. I remember court asking DSTV to revert her price and till now they still never reduce it. Bleep Bruce.

He no nothing about business if USA can fine G motors and Co, ncc is in the right direction, Ben knows what we don't no may be his company is doing more wrong than MTN, Nigerian youth should wise up and do research this country is having problems today because of our inability to know what is wrong and right.

The elite once again defending their rights to flout the law, useless oyibo wanabe!!

Ben Bruce is just ignorant of the real situation. If NCC is wrong with the fine imposed, MTN would have approached the court a long time ago. MTN and other telecoms operators signed an agreement to pay N200, 000 for every SIM card they fail to disconnect after a certain grace period. NCC simply enforced the agreement MTN signed voluntarily. So, what is Ben Bruce fuming about?

well, this Bruce guy has been on point lately! whats up man!

Nice one, Bruce!






In another development, why do I always have this error message when trying to log in to Nairaland lately?
See screen shots:

That is a big fat lie.

It send a message of this is a sane country where you must play by the rules and a country where the business climate is clearly defined with its rules and penalties.

Which company can toy with the national security of US, UK, China, Russia, Iran or North Korea?