Fine on MTN can chase away foreign investors – Ben Murray-Bruce

The lawmaker representing Bayelsa East Senatorial District, Senator
Ben Murray-Bruce has condemned the $5.2 billion fine imposed on
MTN Nigeria by the Nigerian Communications Commission, NCC,
describing such as damaging and capable of chasing away investors
from the country.
Murray-Bruce, who disclosed this in Abuja yesterday, insisted that
the fine “is probably the most damaging action ever taken against
Nigeria’s drive for Foreign Direct Investment.”
Noting that MTN might not be without fault and that its actions
might be deserving of strong rebuke from authorities, he stated
that, “the fine imposed by the NCC sends wrong signals to
Bruce, who said the NCC’s action was already sending signals to
the financial world, added that the fine was creating the
impression that Nigeria was “in a desperate financial situation due
to the sudden drop in crude oil prices and wants to get alternative
revenue by any means necessary.”
According to him, “As a patriotic Nigerian I know this is not true.
However, I know that perception is also reality.
“Foreign investors in Nigeria currently feel vulnerable and those
contemplating investing in Nigeria are putting such plans on hold
as their boards and management pause to take in the
consequence of what just happened to MTN Nigeria.
“I call on the Federal Government to immediately and publicly take
steps to remedy the situation and restore investors’ confidence in
Nigeria by resolving this impasse with tact with a view to our
long-term financial interests, rather than our immediate interests,”
he stated.


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