Zainab Ahmed, minister of finance, says the federal government sanctions on MTN, was damaging for Nigeria.
Speaking at the 24th Nigerian Economic Summit in Abuja on Tuesday, the minister said the Central Bank of Nigeria is working closely with MTN to resolve the issues around the latest sanctions.
Ahmed said some of the positions of the government was taken, so big businesses and investors don’t take regulators for granted.
“The MTN incident was a very damaging one for us, that was one of the reasons why we have been out trying to engage investors,” Ahmed said.
“But you see, there is a tendency for big business to take regulations and governments for granted. After that incident happened, all the information the CBN has been trying to get in two months actually came. Now, they have almost solved the problem.”
The minister assured investors that there would not be another MTN situation and that no company will be next after MTN.
“We are trying to make sure this doesn’t happen again, we are continuously discussing with monetary authorities.
“There willl be no company next after MTN, nobody is next because we can’t afford for this kind of incidence to keep happening.”
The Central Bank of Nigeria recently sanction MTN and four commercial banks within the country, asking the telecommunications giant to refund $8billion for allegedly issuing irregular certificates of capital importation (CCIs).


https://www.thecable.ng/zainab-ahmed-mtn-sanctions-were-very-damaging-for-nigeria/amp

What is these woman saying so we should allow big business to invest in without regulation
Let them go to Ameria I guess SEC would sue and take over the company
Recently go and Elon musk

how damaging was it?

to what extent did MTN violate the laws of Nigeria?
what measures are being put in place to ensure a repeat does not occur?

could the regulatory body have handled the matter better?

these are some of the questions Nigerians need answers for.

So a multi-conglomerate company like MTN should be allowed sympathetically to violate our sovereignity or economic policies because of sentiments?

And the MTN's home country of South Africa xenophobic attack & killing of Nigerians is not damaging enough
Meanwhile when will Abba Kyari be prosecuted for his involvement in the #500M bribery scandal?

just negodu this aboki girl
Wonders shall never end

So u acknowledge APC messed up?

Even if it was damaging are u supposed to expose ur soft underbelly to those u aim to regulate? You're essentially telling MTN and co that Nigeria ia a big-for-nothing sitting duck so they're free to mess up.

mygee2:
What is these woman saying so we should allow big business to invest in without regulation
Let them go to Ameria I guess SEC would sue and take over the company
Recently go and Elon musk

Shut up what she is saying is above your brain grade , you can never understand it

mushystuff:
Even if it was damaging are u supposed to expose ur soft underbelly to those u aim to regulate? You're essentially telling MTN and co that Nigeria ia a big-for-nothing sitting duck so they're free to mess up.

Shut up that fine was one of the most ridiculous fines ever metted on a company , it was more of extortion theft than a fine ...Do you know that stupid fine cost Nigeria and Nigerians losses of over 150 billion dollars in capital flight , suspended FDI and closure of small businesses

Racoon:
So a multi-conglomerate company like MTN should be allowed sympathetically to violate our sovereignity or economic policies because of sentiments?

And the MTN's home country of South Africa xenophobic attack & killing of Nigerians is not damaging enough
Meanwhile when will Abba Kyari be prosecuted for his involvement in the #500M bribery scandal?

Bro that fine was very wrong and it cost Nigeria losses to over 150 billion dollars..

SarkinYarki:
Bro that fine was very wrong and it cost Nigeria losses to over 150 billion dollars..

Meanwhile the crooks in this government would have embezzled it anyway.

Racoon:

Meanwhile the crooks in this government would have embezzled it anyway.

They did ooo, it never reflected in any of the budgets and Abba Kyari alone scammed MTN of 500 million Naira after he promised them he could quash the fine and promise he knew to be a huge lie

SarkinYarki:


Shut up that fine was one of the most ridiculous fines ever metted on a company , it was more of extortion theft than a fine ...Do you know that stupid fine cost Nigeria and Nigerians losses of over 150 billion dollars in capital flight , suspended FDI and closure of small businesses

The point is, speaking publicly about that gaffe isn't the best thing to do? There are more diplomatic ways of saying and doin things at that level of governance.

About your rudeness, if I were to follow your tack and address you in such a crass manner would it really be the best especially considering that my post was not addressed to you?

mushystuff:


The point is, speaking publicly about that gaffe isn't the best thing to do? There are more diplomatic ways of saying and doin things at that level of governance.

About your rudeness, if I were to follow your tack and address you in such a crass manner would it really be the best especially considering that my post was not addressed to you?

No vex sir ..i am sorry
.

EM TEE HEN

SarkinYarki:


Shut up what she is saying is above your brain grade , you can never understand it

chill am just laying out da fact

Bihari and errors are like...

What do u expect when appointees in this government are either via clan,feudal,associates or political interest.
In the Western world and other civilzed societies,once a company is found to have abridged the regulations or laws of the land,it gets fined.
The company not only pays the fine,but apologizes to the regulators and country in general and promises not to repeat same offence.
Here this clannish appointee is saying the country should say sorry to the offending company,begs it not to break the laws again and forgets all about it.
Rubbish people.

richidinho:
just negodu this aboki girl

Wonders shall never end

.The outcome of biting of your nose to spite your face.Nigerians enjoy your new finance minister with NYSC certificate.

Adeosun - mere accountant can you hear

Complaints every where.

Minister of Finance of the Federal Republic of Nigeria!