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Nairaland Forum / Nairaland / General / Business / Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished (30199 Views)
Chauffeur Drive: The Best Option For Moving Around The City / Senate Set Punish Stanbic IBTC For Aiding MTN To Transfer $14BN From Nigeria / Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month (2) (3) (4)
Re: Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished by kitaatita: 7:10pm On Jul 28, 2017 |
shammah1:First look at our laws. So called foreign investors are allowed to being in capital and to repatriate the profits 100%. So what the foreign companies have been doing is to bring in miserly forex and open shop here. They go to the CBN and apply for forex for spares and sundry items. They use the opportunity to move forex out of the country in the name of profit and spare parts. Besides, at the slightest volatility, they close shop and leave. They are not foreign investors. |
Re: Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished by castrokins(m): 7:11pm On Jul 28, 2017 |
No Be Only Blast? After That What? |
Re: Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished by ivolt: 7:12pm On Jul 28, 2017 |
MONITZ: You could have listed the laws broken by MTN, this tirade won't solve any problem. |
Re: Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished by nextstep(m): 7:18pm On Jul 28, 2017 |
Who invited the MTN (a foreign company) to bid for license? Who got the fee from their bid? How will MTN pay their shareholders and senior executives, who are based in South Africa? How can MTN pay for the equipment it uses, and the link arrangements with fibre and satellite companies? I don't understand why senate is making such a fuss. Companies exist to make profits, and those profits are to be used and moved as the company sees fit. Why are we blaming MTN for doing what is normal and regular? ![]() If you don't like their practices, don't do business with them. It's not like they are a monopoly (thank God). If gov't wants MTN to invest more in Nigeria, gov't should fix its own infrastructure so that it makes business sense. It can also give incentives that encourage more Nigerian companies to provide such services. The complaint about moving so much forex is a joke. EVERY foreign company eventually exchanges into its home currency (usually via dollars). How much forex you think British Airways takes back to UK everyday? Or Boeing into US? Or Toyota into Japan? Instead of aiming to be like the big boys by diversifying our economy and growing it, we're crying because somebody is taking the little we have. Misplaced priorities, senators. 4 Likes |
Re: Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished by YelloweWest: 7:20pm On Jul 28, 2017 |
Except FDI laws under the Company And Allied Matters Act has been amended, mtn has every right to take such action. 1 Like |
Re: Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished by Nobody: 7:21pm On Jul 28, 2017 |
Make laws to stop it happening . What use is blasting! Make laws to stop leakages of our wealth such as PIB , money laundering and cases like this one they don't want to. Even simple passage of 2017 budget bill is a problem. When it comes to laws to protect their corrupt asses by weakening EFCC and CCT they make and pass such law at the speed of light. 2 Likes 1 Share |
Re: Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished by martineverest(m): 7:22pm On Jul 28, 2017 |
Stanbic IBTC..... South African company MTN........ Another south African company |
Re: Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished by martineverest(m): 7:25pm On Jul 28, 2017 |
UnknownT:it is... But it's against the law... I remember that law was made during obj tenure |
Re: Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished by bonetalk(m): 7:26pm On Jul 28, 2017 |
magabounce:hmmm, I hope I have not made mistake |
Re: Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished by lonelydora: 7:27pm On Jul 28, 2017 |
olajay86: Central Bank wait first oooooo. Lemme check my account balance won't StanbicIbtc. |
Re: Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished by lonelydora: 7:27pm On Jul 28, 2017 |
olajay86: Central Bank wait first oooooo. Lemme check my account balance with StanbicIbtc. |
Re: Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished by martineverest(m): 7:28pm On Jul 28, 2017 |
stankezzy:thanks for ur great contribution bro.... Its baffling how most ppl on this thread are insulting Senate for taking actions and they are supporting mtn.. Smh for our youths |
Re: Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished by Charly68: 7:29pm On Jul 28, 2017 |
Magu said it that our Banks are fraudulent and unpstrotic |
Re: Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished by Reptyle(m): 7:29pm On Jul 28, 2017 |
MONITZ: That is not true. Apart from the oil majors, I doubt if there is any corporate entity that has done more in the area of CSR than MTN. Please google "MTN Foundation" and see what the company has and is still doing in the area of CSR. The company might be a lot of things but fact remains that their positives far outweigh the negatives. 2 Likes |
Re: Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished by truehero(m): 7:33pm On Jul 28, 2017 |
Mtn will always disrespect us because of the high level of corruption on the path of those in authority to the detriment of the poor masses.hope this will not be swept under the usual carpet. |
Re: Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished by francisbiz: 7:35pm On Jul 28, 2017 |
MONITZ:Abegi! They should leave mtn alone. Ordinary give prepaid meter to Nigerians, PHCN refused to do, for God knows how long, they keep on giving fraud laden 'Un-estimated' bills. What have the senate done to PHCN and DISCOs except giving them drum beats with their endless warning. |
Re: Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished by Fourwinds: 7:43pm On Jul 28, 2017 |
These are d companies dat killed Nigeria economy.... Many came with almost nothing and borrowed from banks dat won't lend to average Nigerians... We have very stupid and useless Senators... So from 2006 to 2016 was dat hallow chamber empty of skulls... Idiot corrupt fools |
Re: Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished by IamaNigerianGuy(m): 7:52pm On Jul 28, 2017 |
nextstep: Well said. Is it not their money ? Have they not paid taxes ? |
Re: Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished by MONITZ: 7:54pm On Jul 28, 2017 |
francisbiz: Haha, one at a time and though despite their shortcomings they still standout as the only one ready for business as the others re just there particularly our own local telco that should be going bing MTN a run for her money PHCN is a behemoth of corruption and it will need a dedicated leader to cleanse it's Aegean stable nd there seems to be no solutions at hand thereby making the masses to be at their mercy. They extort the masses at will at the end of every month with estimated bills for darkness. If the government is serious then they should make it mandatory for PHCN to supply every household a pre-paid meter and see if they would not sit up.. .. 1 Like 1 Share |
Re: Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished by NothingDoMe: 8:00pm On Jul 28, 2017 |
UnknownT:My brother See me see wahala? What of international oil companies? Did they keep their profit from dollars in Nigeria? What's the point of coming to invest in your country if I cannot take my profit out. Abi is it not their money again? 2 Likes |
Re: Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished by zoedew: 8:00pm On Jul 28, 2017 |
olajay86: Medicine after death! Where were they when MTN in collabo with corrupt and unpatriotic public servants kept MTEL prostrate for MTN to dig in? All we got in return was killings of Nigerians in SA. STANBIC-IBTC plus those unpatriotic and corrupt deserve the big stick. |
Re: Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished by Jlow2: 8:04pm On Jul 28, 2017 |
Majesticniyi:when a corrupt and inept government is in place what do you expect?am just tired of this country,the moment you want to blame buhari,and you remember how much deziani and her cronies stole under gej nose esp wen ur from same southern zone,pdp was a catastrophe and worst thing dat ever happened to dis country |
Re: Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished by MONITZ: 8:16pm On Jul 28, 2017 |
burakado17: Which leaders? the ones who don't know their left from their right ,they re just too devious to care about the Masses when they ve their concubines and harem of ladies to tend to.... The head is rotten and that is y all nd sundry get away with all their atrocious acts... 1 Like |
Re: Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished by billionvan(m): 8:16pm On Jul 28, 2017 |
Einl:You deserve a medal. |
Re: Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished by Jaqenhghar: 8:31pm On Jul 28, 2017 |
MONITZ:Bullshit The main aim of any investor in the world is to maximise profit not corporate responsibility. To make profit one must be greedy and exploitative. If your systems are weak, the investor exploits it. That is standard business practice anywhere in the world. Its foolish to expect investors to help you run your financial institutions 1 Like |
Re: Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished by farem: 8:34pm On Jul 28, 2017 |
Sniper12: Are you saying this matter should be left for Nnamdi Kanu to handle!? Seriously!! |
Re: Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished by farem: 8:34pm On Jul 28, 2017 |
Sniper12: Are you saying this matter should be left for Nnamdi Kanu or Gani Adams to handle!? Seriously!! |
Re: Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished by Bizibi(m): 8:35pm On Jul 28, 2017 |
allansie:and u believed someone carried 90b dollars from Nigeria...... |
Re: Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished by ideology(m): 8:40pm On Jul 28, 2017 |
MONITZ:you de talk trash bros. They moved their money, the owners are not Nigerians do you expect them to come and live in Nigeria and spend it Do you even know what CSR is have you heard of MTN scholarships. and other programmes carried out by MTN foundation, what of Who wants to be a millionaire, even sign ambassadors is an aspect of CSR. Don't follow Nigerian politicians, they know what they are looking for from MTN These same politicians complaining of capital flight spend millions traveling aboard, own businesses, bought properties, go on holiday, send kids to foreign schools. Are the above not capital flight? These guys moved their money not as if they took it at once, over a period of 10years. is there anything wrong sending money to your business partners and investors. By the IBTC is an investment bank 1 Like |
Re: Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished by sapele914(m): 9:07pm On Jul 28, 2017 |
MONITZ:It is simple economics,you can move to glo and keep the money in Nigeria if you dey vex. |
Re: Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished by Beadex1(m): 9:08pm On Jul 28, 2017 |
well politics behind i think this is one of the most active senators we have since democracy, they identify flaws sharply and I wish the could also change their mind on embezzling public funds that the wont spend through their existence on earth |
Re: Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished by sapele914(m): 9:10pm On Jul 28, 2017 |
Xxpress:is it a crime to change your naira to forex and repatriate it out of the country?,cbn has collected their transfer charges in dollars. |
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