Right now, the headquarters of corruption in Nigeria is MTN Nigeria Limited.

Does it not amount to the height of conflict of interest for the former head of the Nigerian Communications Commission, Ernest Ndukwe, who still has his loyalists in the NCC, to be not just on the board of MTN Nigeria Limited, but also the board Chairman? Where else on Earth can this anomaly be tolerated?

The NCC is the regulator of the telecommunications industry. It is like the Governor of the Central Bank of Nigeria finishing his tenure and then going to chair a foreign bank doing business in Nigeria.

Recent revelations surrounding MTN Nigeria's governance and business practices cut to the heart of what is broken in Nigeria. They show that there is a revolving door between key regulatory offices in government and the board of MTN Nigeria. A cosy relationship between the two can only mean biased rules in their favour, unfair competition and a rotten deal for the people of Nigeria. The costs are not just in the form of higher prices, they also are costs to our reputation and trustworthiness as a destination for foreign investment.

Even in South Africa, MTN's home country, such a travesty would not be accepted. For a foreign company engaged in cannibalistic exploitation of its competitors to pick as its Chairman of the board the former CEO of the public corporation that regulates the industry. This is why South Africa is presently prosecuting Meta, the parent company of Facebook, for unfair competition because WhatsApp is allegedly unduly suffocating South African companies, GovChat and #LetsTalk.
South Africa's Competition Commission is not allowing Meta to do in their country what we allow MTN to do in Nigeria.

Not done with such brazen antitrust practices, MTN appointed the former Executive Chairman of the Federal Inland Revenue Service, Ifueko Omoigui Okauru, as a board member. Imagine the conflict of interest here. No wonder they had the guts to unilaterally charge other telecommunications providers interests on tax that they had no business collecting. Because they have inside men giving them insight.

Who is actually the Government of Nigeria? Is it the one headed by President Bola Tinubu, or the alternative government led by MTN's board? Because when any organisation starts imposing and collecting tax on others. It has become a government.

The government of Asiwaju Bola Tinubu ought to look into this corporate corruption. The President is an accountant. He must be familiar with antitrust and how it destroys healthy competition and fosters monopolies.

Nigeria's regulatory bodies must demonstrate their autonomy and impartiality by conducting a thorough investigation into MTN Nigeria's business practices. The potential collusion between former government officials and corporate entities undermines public trust and erodes the credibility of Nigeria's regulatory institutions. Investors need certainty and respect for the rule of law, or else they will overlook Nigeria and take their money to our competitors.

Because you cannot have a company which has been officially branded a dominant and hostile monopoly by Ghana, a neighbouring country, now taking advantage of Nigeria's weak regulatory regime by packing its board with former heads of critical regulatory agencies, who have an undue advantage with the regulators and can influence them against Nigeria's interest and for the benefit of MTN.

Not only have they sunk their fangs deep into the state and created their own deep state, which is a swamp that needs to be drained, where regulators are undermined and no longer independent, they have even undermined our legal system by having a former Chairman of the Nigerian Bar Association, Abubakar Balarabe Mahmoud, on their board.

The Nigerian government should ask themselves whether or not it is in Nigeria's interest to have a former minister with regulatory authority over telecoms on the board of MTN. Imagine that these individuals approach their former subordinates in these Ministries, Departments and Agencies and ask them to bend the rules in favour of MTN. What does the government of Nigeria think will happen?

Recently, veteran journalist, Bayo Onanugu, Special Adviser Information and Strategy to President Tinubu, complained about moles in the civil service feeding official secrets to the opposition and other outside parties. It is because of practices like the shenanigans MTN is engaged in, that this is possible.

Is it not because of practices like this that the United States moved against Microsoft for antitrust violations in the United States v. Microsoft Corp.

Timing is critical. The Italy-Africa Summit underscored Europe's commitment to fostering economic development and partnership with African nations. Nigeria must seize this opportunity to reassess its policies and practices. By aligning with international standards and leveraging partnerships with the European Union, Nigeria can enhance its credibility and foster a transparent business environment conducive to sustainable economic growth. The benefits will stretch beyond the telecoms sector and be felt across the wider economy.

MTN's undermining of the system is too brazen. Too brazen. Imagine having Omotola Johnson, a Minister of Communication Technology, on the MTN board. Again, who is the government of Nigeria between the Tinubu administration and the MTN monopoly?

What is the definition of antitrust? Actions of a corporate entity that prohibits fair competition and promotes monopoly. MTN is the classic dictionary definition of antitrust violations, and the Nigerian government will do well to intervene now, like Ghana, which fined MTN $773 million for similar practices, before this behemoth becomes bigger than the government. We have heard of Banana Republics. May Nigeria not end up as a Telecom Republic!

Reno Omokri
Gospeller. Deep Thinker. #TableShaker. #GrowNairaBuyNaija. Ruffler of the Feathers of Obidents. #1 Bestselling author of Facts Versus Fiction: The True Story of the Jonathan Years. Hodophile. Hollywood Magazine Humanitarian of the Year, 2019. Business Insider Influencer of the Year 2022.

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Hypocrisy kill you there. You know all this yet consistently lick the butt of Dangote, the HQ of aggressive and oppressive monopoly

Corporate corruption?

The Nigerian government is permeated with corruption at every level. Starting with major contract fraud at the top and moving down to small-scale bribes, money laundering operations, embezzlement, and taking salary for fictitious employees…

Hehehe

I totally agree with Reno here.

Just watch as cannibals will start their act of cannibalism on him now.

They will leave the message and start attacking the messenger because they don't like him.

.

Really.
What level would you rate Dangote monopoly?

MTN is not really Nigeria problem. I expected you to have raised alarm on major issues that affects 90% of Nigerians

Seems this guys is now tired of Obi.

Obi finished him with silence. Truly "silence is the best answer for ...."

Who told him that because you are a former regulator you can no longer own a company or be a chairman of a company? Does it mean Osinbajo should no longer run a legal firm because he was a former president? Should Obj no longer run his farm because he was once the president of Nigeria?

Is there any law that forbids Sanussi and Soludo from having anything to do with Boards of a bank because they were FORMER CBN governors?

Has Trump left his businesses in America because he was the former American President?

He who has an ear, let him hear what our dear Reno is saying but

Of recent, our dear Reno has been poknosing.

ProjectsCityNG:
Hypocrisy kill you there. You know all this yet link the butt of Dangote, the HQ of aggressive and oppressive monopoly

Please sharap.

Tinubu is a very clever politician. If you pay close attention, you'll notice that he is strategically targeting and attempting to cripple every Northern politician who might hinder his reelection in 2027. Interesting times ahead.

KARL TORIOLA

Am not an hypocrite.
There's this idea am about to launch in my industry, I pray I enjoy the monopoly for years before others try to catch up. Who says monopoly is a bad thing if you are the one to benefit.

Ok

Toh

.

Board Chairman is Nigerian
Ceo is Nigerian

How is Mtn Nigeria a foreign company?
Mtn has already divested.

Majority of its shareholders are Nigerians

Mr Reno, for your information mtn is not a monopoly..... We have 9 mobile, airtel and glo.

Mtn has an early starter advantage...
The others should step up their game

Talk about Dangote also!

No capitalist is as monopolistic as Dangote!

Stop cherry picking!

PHIPEX:
Seems this guys is now tired of Obi.

Obi finished him with silence. Truly "silence is the best answer for ...."

Surely understand the logical reasoning why MTN made former head of the Nigerian Communications Commission, Ernest Ndukwe their Chairman.

Just shitted on this post by Reno omokri
Cleaned up
I’m out
Hypocrite!!!

Funny thing about Reno is that

He thinks MTN and MTN Nigeria are the same Lmaooo

MTN Nigeria is majority owned by Nigerians upto 80%
MTN shares in MTN Nigeria was 40% at starts and has been diluted to around 20%

Dangote sugar is a foreign owned company, foreigners own about 90% while dangote owns 10%

Most of our banks are foreign owned upto 30% in some cases

What you import would never make you a poor nation... Lack of export would

Reno is actually very very not smart.. Engage him in debate now and watch him just shout and try to talk over you with zero point

GlorifiedTunde:
Talk about Dangote also!

What about Dangote?

I always wonder who pushes the man's post to front page everytime on nairaland

okay

K

Don't blame MTN; blame it on your country. MTN understands the business more than their rivals. When Econet came into Nigeria, they were obsessed with Lagos. MTN came in and saw the need to expand across the country. Today, nearly all Nigerians have an MTN number.

Glo has done its best by forcing MTN to start per second billing. But the same Glo would rather empty their accounts to promote a shitty network than fix its problem.

Give it to MTN, the South Africa telco that compelled an incumbent SA President to visit Nigeria to plead on their behalf because the FG fined them. MTN is the pride of South Africa and will do anything to keep cashing out in Nigeria.

ProjectsCityNG:
Hypocrisy kill you there. You know all this yet consistently lick the butt of Dangote, the HQ of aggressive and oppressive monopoly

Off your mic

Reno is now tinubu special adviser