They have remembered MTN now because Nigeria is in recession

They have remembered MTN now because Nigeria is in recession

No be the same MTN and other GSM networks been dey dash them recharge cards when they were repatriating the $13b to South Africa?

They should look into the activities of the likes of Shoprite now and not wait for another 10 years to start looking into how they repatriated $30b to their country even as our small retail outlets are forced out of business.



$13billion MTN illegal repatriation: There’ll be consequences – Senate

By Editor on 21/10/2016

Whoever has a hand in the alleged illegal repatriation of the whopping $13billion by telecommunications giant, MTN, will not be spared an angry Senate, vowed on Thursday.

Conveying the sentiments of the upper legislative chambers of the National Assembly, Senate President, Bukola Saraki, while opening the inquiry into the matter, lamented that if the country had such an amount within its shores, it would not be in its current recession.

The alleged illegal repatriation, which was said to have happened  with the active collusion of some Nigerian banks and individuals, is the latest in the series of issues Nigeria is having with the telecoms company in recent years.

It is on the heels of another allegation of sharp practices in the process that led to the reduction of the amount the company was slammed last year as penalty for some operational malfeasances.

Olusola Adeyeye, who stood in for the Senate President, while inaugurating the panel drawn from the Senate Committee on Banking, Insurance and Other Financial Institutions, said the Senate saw it as duty ensure that such breach of constitutional processes are investigated, insisting that it was not a witch-hunt but a fact finding exercise.

“This 8th Senate has devoted a lot of attention on legislations that will improve the business environment. This hearing goes to show this commitment and so we expect maximum cooperation from the regulatory authorities: failure to do so will mean culpability.

“We intend to get to the bottom of this and get the facts and nothing but the facts. At the end of this, based on the calibre of people that are here, Nigerians will get to know the truth about what transpired.

In his opening remark, the Chairman of the Committee, Sen. Rafui Ibrahim, said the investigation was not a witch-hunt but an avenue to block loopholes and revenue leakages.

He berated the individuals who did not honour the invitation of the senate stressing that they would be handled appropriately.

Share on



You may also like... Proposed energy tariff hike and privatization; the role... My first and last involvement in politics South African Pastor Who Strips His Congregation Beaten... Do I believe that some Chibok students were... Acquiring IT skills is a lot easier than... It is not the job of the NSA... For the Nigeria bashers - 2,300 Americans are... So the venue of the PDP national convention... Gov Ambode of Lagos stated the facts and... Making sense of Diezani's response and I am...
Latest Articles Movie producers should stop denigrating Igbo tradition and religion Your vehicle catalytic converter may have been long stolen without your knowledge FRSC should stop using human beings as wedges on our expressways A good leader will naturally inspire the people Reasonable product warranty - Coscharis, a shining example Only the foolish starve just to export food to wealthy nations DISCOs will one day beg Nigerians to get connected to the grid Disregard the silly rumor about soldiers injecting people with dangerous vaccines My first and last involvement in politics South South region the only region without a plan B


Popular Avoiding Domain Name Registration mistakes Steady electricity for Nigerians in 6 months or less Nigeria Online Scams: Where The EFCC Is Getting It Wrong Understanding Web Hosting Need to introduce the death penalty for corruption MTN 3G Internet service - Not yet uhuru How EFCC can effectively tackle online scam (419) Proposed energy tariff hike and privatization; the role energy efficiency can play Why it may take eternity for Nigeria to move forward How unique can a website be?





You cannot carry out fundamental change without a certain amount of madness. In this case, it comes from nonconformity, the courage to turn your back on the old formulas, the courage to invent the future. It took the madmen of yesterday for us to be able to act with extreme clarity today. I want to be one of those madmen. [...] We must dare to invent the future....Thomas Sankara



Amaechi, Nwodo Clash At UNIZIK Lecture




Articles Business and Economy (27)






Articles in pictures


| Advertise | Privacy Policy | Built with JBlog CMS | © 2018 Afam Nnaji - All rights reserved | Email | Powered by Just Web Services


| Advertise | Privacy Policy | Built with JBlog CMS | © 2018 Afam Nnaji - All rights reserved | Email | Powered by Just Web Services