The dispute between Nigerian telecoms company Globacom and South African company MTN has escalated significantly. Reports indicate that MTN accused Globacom of owing interconnect charges and other fees totaling over N7.05 billion, which included a previously paid N1.6 billion, VAT of N1.7 billion that MTN claimed to have paid on Globacom's behalf, and compounded interest amounting to N3.6 billion. Globacom, however, contested these claims, emphasizing its commitment to fulfilling its financial obligations independently and questioning the rationale behind MTN's payment of VAT on its behalf.

In response to the allegations, Globacom demonstrated its financial capability by issuing a payment guarantee of approximately N3.49 billion and providing bank cheques totaling N3.5 billion, though MTN eventually accepted a bank guarantee instead. This led to a reconciliation process facilitated by the Nigerian Communications Commission (NCC) in Lagos, where it was determined that the actual interest owed by Globacom to MTN was N2.368 billion. This amount was agreed upon as the full and final settlement, with MTN instructed to proceed with calling up the payment guarantee from First Bank.

The situation underscores the intense competition within the telecoms industry in Nigeria and raises concerns about the dynamics of power and influence among major players. Globacom has voiced criticisms over what it perceives as undue influence exerted by MTN, suggesting a broader industry issue that extends beyond national borders, as seen in MTN's operations in other countries like Ghana.

nastyesco:
Yoruba ronu don put all of us for ironu.

This is what happens when mediocrity takes center stage. A similar is case is how Buhari now seems like a performer due to the massive flop of Tinubu.

I regret campaigning for Emilokan.

nastyesco:
Yoruba ronu don put all of us for ironu.

This is what happens when mediocrity takes center stage. A similar is case is how Buhari now seems like a performer due to the massive flop of Tinubu.

I regret campaigning for Emilokan.

Salewa97:


Is that what your brain picked from the news?

According to Prof. Wole Soyinka, barbarianns can’t think.

AnonPoet:


https://www.dconnectnews.com.ng/2024/02/from-705bn-to-23bn-how-globacom.html

https://www.lindaikejisblog.com/2024/1/from-a-whopping-sum-of-n705-billion-to-n23billion-how-globacom-resisted-bogus-claims-by-mtn-2.html

WhatIf:
As far as I am concern, I still prefer Glo than any other Network!