Bad

‎ Bad Deal
They are going to invest 80bn in Nigerian instruments . . .from which they will get a profit

They will give the FG 70billion worth of broadband . . .What is the FG going to do with that? Does Buhari watch Netflix or Does Saraki want to download Game of Thrones in HD

Abeg what does Fg want to do with 70 billion worth of internet service

Interesting...

luvinhubby:

Hypocrite, has your govt not collected 50 billion already.
Stop deceiving Nigerians.

You can imagine hypocrisy even when caught pants down!

Laughable! @embolden In the sight of be fined for ineptitude service, MTN still wants to defraud the government the same way they've been doing to subscribers eh?

"• N70bn through the provision of broadband access to the FG (subject to excess capacity on MTN’s fibre network) for its e-initiatives"

You can imagine the amount running while service can't be accessed

Error 509.write up too long but in summary sai buhari

MTN’S PROPOSED N300BN PAYMENT PLAN
1. N50bn already paid in “good faith”
2• N100bn via electronic transfer between Dec 31, 2016 and Dec 31, 2020
3• N80bn investment in Nigerian sovereign debt instruments in 2016-2017
4• N70bn through the provision of broadband access to the FG (subject to excess capacity on MTN’s fibre network) for its e-initiatives

1, self explanatory

2. If N100b is spread over 4 years, using a discount factor of 13% I'm too lazy to do the maths but it means effectively MTN will be paying around N60B. This is unacceptable

3. If MTN invests N80B in sovereign instruments, the money is still their money, how they have the effrontery to even suggest this befuddles me

4. N70b worth of data subject to capacity? WTF? so when the nect work is congested they will say sorry we cant give you data as per our agreement and secondly this is a backdoor way of hooking in the federal government to MTN services.

The bottom line is MTN wants to get away by paying only About N110B, this is a gross insult to our intelligence and as far as I am concerned treating the country with contempt.


All I can see from this is that MTN is indeed a company that has no respect for Nigerians and I will be dissapointed in the government if they accept.

Our politicians and their shenanigans. For me, the whole of the money can be invested into the ailing power sector plus the money Switzerland is about to return. For goodness sake, why. can't we have 24/7 power supply?

But really for FG to fine MTN dat amount of money is to me an abuse of power. It doesn't matter if they can afford it or not.. And the Nigerians shouting they should fine MTN are the ones who failed to register their lines. If MTN had cut them off now they would have gone to destroy some of their offices just like they did in Imo. How would you feel if your own company was fined outrageously by FG how would you feel? Don't get me wrong I'm not saying they shouldn't be punished but 1.04trn is just too ridiculous a fine for a private company. I'm wondering what would have been the case if glo had done the same

MadCow1:
No Deal...


500 Billion Naira Cash..


Then the remaining money should be converted to credit and used to recharge the lines of all MTN Subscribers in Nigeria.. Afterall, we are the real victims here.

If dem no gree, they should pack up and leave.

victims? Do u even know why MTN is being fined?

This is bullocks!!!

This is not a soft landing proposal but outright brazen insult to our collective intelligence. So, MTN will only not pay a fine up to half of what they were initially slammed with but spread such payments 'til the expiration of this administration and much of it will be in 'services' to the FG. Who send dem to invest in our sovereign debt instrument.

This government best sit up and show these guys that we are an accommodating lot but not stupid!

OLADD:
Let no one firmly believe that APC/Buhari's govt is keen on making MTN pay the fine fully. For those who have forgotten so easily, the South African govt worked assiduously for APC when they were in opposition. In fact, the embarrassment mettled to Jonathan in the $9.3 arms debacle was orchestrated by APC in connivance with Jacob Zuma's govt. So, Buhari would want to sustain that partbership by giving MTN a soft landing. Any hard line posture by Nigeria would severe APC's relationship with the SA ANC.

Let me Justified ur words read this chapter... Quote (Nevertheless, the committee chairman, Gilbert Nnaji, said since the AGF who is the principal player in the matter was not available to answer pertinent questions, the meeting would be adjourned Indefinitely.)

luvinhubby:


It is better to arrest, try & jail all the directors of MTN Nigeria for culpable homicide & accessory to terrorism & forget any fine whatsoever than belittle the whole country in accepting 1/4 of their stipulated fine.
And worse still, half of the fine they agreed to pay will be paid in 2017 & the remaining ones spaced out in 4yrs as concessions & barter with govt.

Which kain useless leaders do we have in this country?

Its stil a proposal ok. Wait til govt agreed or not! mofo

Phobia1:

Its stil a proposal ok. Wait til govt agreed or not! mofo

Your govt has collected 50 billion already so it's no proposal. Hypocrite!

so this MTN has 300bn and they will be disturbing my peace when i borrow #200

luvinhubby:


Is it not better to secretly negotiatewith MTN without Nigerians knowing than to make all the useless noise of $5 billion dollar fine, forming a hardline strongman & telling Nigerians a new sherriff is in town only for you to capitulate and accept with two hands pittance from MTN.

Are you minding that olodo? He has refused to see shaddiness of the government of the day in handling this Mtn fine. Instead of him pointing out how the government is deraling in making sure mtn pays the initial stipulated fine, he would rather keep mentioning GEJ's name for his failures. SMH for some people sha!

luvinhubby:
From 1.1 trillion to 300 billion

If you can sort your way, you can get away with anything in Nigeria.

Am sure people like u were the one shouting ' do you want to wreck mtn' We know they won't pay 1.1 trillion nah, haba, but the fact that they did not get away with it is sth reasonable.
They had to use Zuma and a whole former US attorney to negotiate a proposal of 300b which am sure will increase to like 450b. From there we gonna get at least 150b in cash. That's sth.

Do you think we would have gotten #1 if it were to be one man from otuoke

All I can say is that its no longer business as usual for foreign companies who still want to do dubious business in Nigeria, has anybody noticed how serious multichoice [dstv] has become these days?

Those who are bashing the FG don't understand international diplomacy.

ibadanfinest:


Am sure people like u were the one shouting ' do you want to wreck mtn' We know they won't pay 1.1 trillion nah, haba, but the fact that they did not get away with it is sth reasonable.
They had to use Zuma and a whole former US attorney to negotiate a proposal of 300b which am sure will increase to like 450b. From there we gonna get at least 150b in cash. That's sth.

Do you think we would have gotten #1 if it were to be one man from otuoke

So it was not a fine but price bargaining in business, i see!

Crazy, isn't it?

Hmm....

Elose11:

This would come by way of MTN Nigeria committing to purchase N80 billion of Nigerian sovereign debt issued on the international market in 2016-2017.

Am I the only one to notice that MTN proposes to pay a debt by making an investment of #80 billion for which it will fully receive a return of its capital with interest? By the way sovereign debt is another name for government bonds or treasury bills, which are by far the safest investment with guaranteed returns.

What MTN is proposing can be compared to the following: I owe you 100 naira but decide I'll pay you only 40 naira. Out of the 40 I've decided to pay, you must agree to accept 10 naira worth of goods from me whether you need them or not. After that I'll pay you 18 naira in cash and then I'll use the remaining 12 naira to buy goods from you which I'll resell at a profit! This really means I've only paid you 28 naira out of the 100 while at the same time making great profit.

But I got F9 in economics sha, so any clarification by the economists here will be appreciated.

So MTN are now the ones dictating what they would pay and how they will pay. 2020 qua.

They want to suck Nigerians to pay the fine over a period of 4yrs.

Then give us broadband connection that is subject to availability as if Nigeria or Nigerians will not pay for the usage, another way of sucking us dry again.

Chai, we have suffered!

My country,my country...

SleekMallam:


I pray all those shady deals Buhari cut in Qatar comes to light cos this regime has shown it can't be trusted in terms of cutting edge approach to negotiations. Imagine ordinary Swiss giving US ridiculous pre negotiation conditions few days ago.

Mtn has learned and cornered Nigeria into pre negotiation with 50billion advance payment and now insisting on 300 billion total payment spread across four years! The sweet part of it is that half of that 300 might likely be in cash while the rest is in kind! Fantastic deal!!!!

Buhari and team scores an own goal yet again.

How glad wud I ve been if u reasoned like this during d adm of d yam eaters!

NOETHNICITY:
How glad wud I ve been if u reasoned like this during d adm of d yam eaters!

I did. I've always stood and fought against all forms of injustices,oppression and lies. My truth can't be brought,gagged or influenced. it is not conditional. As a matter of fact, I rooted for Buhari against GEJ.

We owe Zuma / SA no obligations (same way they dint see any obligations to be mature with the ridiculous way they embarrassed Nigeria during the Arms purchase) MTN agreed to the said penalty, now it's time to pull through. Negotiation should however be handled with utmost professionalism.
I also wouldn't subscribe to any fina sum bellow half of the original sum & not stretching over 5 years. Fair enough

Awádà kèri kèri!

Awádà kèri kèri!...in yoloba.

luvinhubby:


So it was not a fine but price bargaining in business, i see!

Hmmmmmmm
It is quiet unfortunate that your compromised position of anti-Buhari will not permit you to see things differently. An aphorism posted by a NLder says "if you close your eyes so as not to see your enemies you may not know your friends when you come across them".
The fine is just a minor gain. The major fall out is the haste with which corporations, local or foreign, will refocus their operations to conform with our laws.
Impunity should no longer be condoned.