Nigeria Communications Commission (NCC) initially fined MTN Nigeria N1.04 trillion, for failure to disconnect 5.2 million unregistered subscribers, but has now reduced the monumental fine to N674 billion. INFORMATION NIGERIA reviews the lessons that have emerged from the friction between NCC and MTN over the fine…
1. The need for Nigerian companies to embrace good corporate policies.
2. The need for companies, no matter how big to comply with regulations.
3. No company, no matter how big is too big to be questioned by authorities.
4. Directors and persons in managerial positions don’t always secure their jobs when the chips are down, they are sometimes the first heads to roll.
5. Multinationals are now sitting up. They are now more wary of incessant flouting of regulatory requirements in their host country.
6. A stronger regulatory regime will definitely lead to better quality service delivery.
8. Nigerian government should work on their synergy with investing companies: a good example is the successful negotiations for the downward review of the fine.
That is it guys, you have it – Learn and be wise!
Verity Awala
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