Nigeria does not want MTN to quit the country because of a $5.2 billion fine imposed last month, its new communications minister said, suggesting the African mobile phone giant may have found a sympathetic ear in its bid to reduce the penalty.

The deadline for paying falls on Monday with little clarity as to whether the South Africa-listed company can, or will, pay the fine imposed by the Nigerian Communications Commission for failing to cut off 5.2 million unregistered SIM cards.

“A judgment has been given, as it were, and the period for enforcement has not yet passed,” Adebayo Shittu, who was sworn in as communications minister this week, told Reuters in an interview.

The fine – if fully enforced – amounts to more than the past two years of profit for MTN in its biggest market, but Shittu said it should not jeopardise the company’s future in Africa’s most populous nation and largest economy.

“Nobody wants MTN to die. Nobody wants MTN to shut down,” he said.

The fine is based on $1,000 per outstanding unregistered SIM card, as stipulated by Nigerian telecommunications laws, although most analysts expect some sort of a reduction.

Nigeria accounts for 37 percent of revenues for MTN, which operates in more than 20 countries in Africa and the Middle East. Since the announcement of the fine, its shares have lost nearly 25 percent of their value.

The company has sent top executives to Abuja to try to negotiate a way out, and Shittu stressed the ball remained in MTN’s court. When asked to comment on the progress of the talks, he said there was “nothing before me”.

“If any new thing would happen, there must be initiative from concerned quarters,” he said. “It is up to MTN.”

The fine has the potential to escalate into a trade or diplomatic spat with South Africa, the continent’s other pre-eminent economic heavyweight, although Pretoria has so far played down the risk of wider fallout.

When asked about the consequences of non-payment, Shittu said the law would be followed. He did not give details but insisted: “We don’t want them to leave.”

Nigeria has been pushing telecom operators to verify the identity of subscribers due to concerns that unregistered SIM cards are being used for criminal activity or even by Boko Haram militants waging an Islamist insurgency in the northeast.

Speaking to Reuters about his plans for the sector, Shittu said he thought telecoms were key to helping President Muhammadu Buhari’s goal of diversifying the economy away from oil.

Africa’s biggest crude producer has been hammered by the drop in global crude prices and growth in gross domestic product more than halved in the second quarter compared with the same period in 2014.

Shittu said telecoms provided a quicker avenue for new growth than agriculture, another sector the government wants to expand.

Nigeria does not want MTN to quit the country because of a $5.2 billion fine imposed last month, its new communications minister said, suggesting the African mobile phone giant may have found a sympathetic ear in its bid to reduce the penalty.

Speaking to Reuters about his plans for the sector, Shittu said he thought telecoms were key to helping President Muhammadu Buhari’s goal of diversifying the economy away from oil.

Africa’s biggest crude producer has been hammered by the drop in global crude prices and growth in gross domestic product more than halved in the second quarter compared with the same period in 2014.

Shittu said telecoms provided a quicker avenue for new growth than agriculture, another sector the government wants to expand.

lasisi69:
End time network

GudluckIBB:
The next port of call will be DSTV
Shittu go show them pepper!

lasisi69:
End time network

ikechukwu354:
I know this has no business with this thread but its important thank you
Its no longer news hearing the ongoing protests in various part of the SE by the IPOB youths. In as much as I'm of the SE extraction, I want my fellow South Easterners to be rational and objective in their thinking. Biafra shouldn't be our priority now.
The reasons why I'm of the opinion that Biafra shouldn't be our priority are:
1. Most powerful Igbos leaders are against it: Those of us with strong memories would agree with me that Nnamdi Kanu isn't the first person to follow this path.
Years ago during Obasanjo's administration, Mr Ralph Uwazurike the leader of MASSOB attempted something similar. What was the result...he spent years locked up in an underground cell, his members were jailed many are still in jail as we speak, some even lost their precious lives.
The then igbo leaders who even had the senate leadership then did nothing, why cos they weren't ready to relinquish their positions and Federal Government appointments for Uwazurike's movement.
If nothing was done by the SE leaders then, what makes the youths so certain that they'll lift a finger towards their course now considering the fact that most of our leaders are self centered?
2. Thousands and even millions of South Easterners are likely going to be plunged into the job market upon declaration of Biafra: Its most likely that if the biafran dream is actualized today, Igbos working in various Nigerian government parastatals across the federation would automatically loose their job. Starting from Igbos in the military (Army, Airforce and Navy), to Civil Service, to the Nigerian Police Force, NSCDC, Customs, Immigration, FRSC, EFCC, ICPC, The Ministry, Ministers and Senators from the biafran territory will no longer be recognized in the Nigerian Senate, ...etc.
Can we cope with that, noting that the current economy of some SE states isn't something to be proud about, and we can't even secure employment for those living there how much more when you have a mass exodus of people relocating home. How will they survive?
Germany requested for thousands of Syrian refugees because they have a very good economy to settle them in months.
We should understand that if Biafra is declared, a similar mass exodus would be experienced.
Question is do we have a plan to absorb the thousands who probably would be relieved of their duties by the Nigerian Federal Government into the biafran economy and create such parastatals for them with a short period of time so they can work and take care of their families?
These are questions we need to ask ourselves.
3. The SE is improvised: We deserve a good leadership in the SE not biafra: Currently, we lack good roads, we lack constant electricity, we lack well equipped government primary and secondary schools, we lack portable drinking water...etc. Why should secession be our priority?
Few months ago, Afikpo youths comprising of Amasiri, Edda, Uwanna...etc blocked the roads to protest 2years of blackout in Afikpo. (The thread was even on Nairaland) I witnessed that protest live cos I was in Amasiri (Ebotrans park) en route Abakaliki and was delayed by the protesters for over an hour because the whole roads leading to Abakaliki were all blocked.
If Afikpo which is agurably the second largest town with the best economy in Ebonyi state after Abakaliki can be in darkness for 2years, then I think its time for us to go back to the drawing board. Cos we can't expect the biafra economy to survive in darkness.
We should also be bothered about the number of our educated minds finding their way to other geopolitical zones outside the SE in search of greener pastures. That's another indication to tell us that our economy needs serious rehabilitation.
If we're so bent on making biafra a reality then we should beginning to hold our leaders accountable to every promise they made to us during the past elections
Great nations are ruled by great minds not thieves, crooks and heartless looters camouflaging themselves as leaders to enrich their 20th generation.
It is time for the Igbo yout
Anyi Ga-eme Mbaa Ka Ódi Ukwuu Ma Öbúrú Na Agbúrú Nille Ga Etikota Aka Rúó Órú Ma Gharakwa Ì Na-ata Ndi Ózó Uta Mgbe Ihe Mgberede Dakwasiri Anyi.E Kwenyerem Nigïria Ga Adikwa Ukwúú ÖZÖ.

FREEDOM4BIAFRA:



Most powerful Igbos leaders are against it: Who are the most powerful leaders? Listen brother, there is something called greed, and it eats beyond tribe or ethnicity. At this moment, Igbos are not concerned on the thoughts of the so called powerful leaders, we only care about the trusted leaders. Mazi Nnamdi Kanu is a trusted leader not Ralph uwazurike. Uwazurike sold us for promises, Rochas sold us for promises, ndi Ohaneze sold us for goats and broilers.

As I stated earlier, Greed is addictive, many of these so called leaders cannot support Biafra, this is because of their mischievous gains from Nigeria, crumbs, as long as they can build mansions, they do not care about their neighbors who cannot afford a decent meal. NdIgbo have no Nigerian leaders, only sellouts.


Thousands and even millions of South Easterners are likely going to be plunged into the job market upon declaration of Biafra: This is a very false claim, at the moment, millions of Biafrans are aready unemployed in this evil contraption. A place where a biafran who dos better than others cannot even gain university admission because his surname does not permit him to get unmerited abdul-muhammad marks.

What is your view of Biafra? A place without orderliness? No civil service? No airforce? No Police? No army? No Ministries and ministers? No investors? No customs and immigrations officers? That point is without form brother. At our sovereignty, we will have the need for so much hands in our quest for nation building. Our own telecos will recruit, embassies will recruit, investors will recruit. All the tax mismanaged by the Nigerian government will be utilized properly by the Biafran Govt.

Your third point is that the south east is impoverished: why so? We have continued to vote in leaders who get sidelined and most times corrupted by the people who hold the centre. Even Rochas who was the messiah, turned out to be the devil in blue clothing.
Listen brother, We have no reasonable federal presence in the south east, what is the hope of getting any in the next 100 years? Why are we impoverished?
Nigeria is structured on a way that no leader from the south can have his way without first seeking permission from the north, the northerners alone in the Senate take up as much as half the size, how then can the south win any vote? This is why we remain impoverished! This has to stop.


Do you know that Prof. barth nnaji built a power plant in abia state, which is capable of generating up to 1080MW? Can this not be replicated around biafraland for power generation? Why was the gas supply cut off?

With the abundance of gas in biafraland, we can power our plants for constant electricity, 24/7. This will attract investors faster than you can think of. They will choose to manufacture in Biafra and export to Nigeria and other African countries, Employment opportunities will abound.

We also have the IBETO GIANT, AND OUK WHO WILL BRING BACK HIS INVESTMENTS WITHOUT FEAR OF THE NORTHERN VICTIMIZATION

Inability to stand Independently:
There is only one reason why Nigeria has been trying to make the south-east unable to stand, it is because we are potential giants. People love those that they can control.