BEVERLY HILLS, December 21, (THEWILL) – MTN Nigeria has stated that its commitment and belief in the long- term sustainability of the business was one of the drivers of the company’s decision to seek judicial determination in line with due process and the rule of law over the huge fine imposed by the Nigerian Communications Commission (NCC).
The company reaffirmed its long-term commitment to its stakeholders, including 63 million customers, thousands of employees, vendors, partners and consultants in an official statement released Monday.
In the statement signed by Amina Oyagbola, MTN’s human resources and corporate services executive, said, “The N780 billion fine had potentially dire consequences for the company, its employees, partners, stakeholders as well as the entire Nigerian telecoms industry.
“Being a significant contributor in Nigeria, MTN has an obligation to protect the interests of its ecosystem of millions of Nigerians who are directly and indirectly affected by its business operations and continuity.”
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According to Oyagbola, the decision to seek judicial determination was reached after careful consideration of all factors, including extensive attempts at a sustainable resolution.
“It is important to state that seeking judicial determination was a last resort. We hold the Nigerian government, its national objectives, laws and regulations in the highest regard.
“Notwithstanding the action, the company will continue to engage with the authorities in an effort to reach an amicable resolution in the interest of all stakeholders.
“Through its operations, MTN has grown to become the largest GDP contributor in the non-oil sector, at approximately 4.5 percent.
“We are grateful for the patronage, partnership, determination and hard work of everyone who has made it possible for MTN to become what we are today. We recognise the magnitude of the responsibility we bear and are committed to supporting our key stakeholders to enable continued sustainable economic development and vibrant, connected communities through ICT,” Oyagbola said.
MTN says it remains committed to being a partner in national development and an investment ambassador for Nigeria.
The company’s ICT infrastructure supports all critical sectors of the economy including banking, insurance, e-commerce, oil and gas.
Since investing in Nigeria, MTN has contributed to the socio-economic growth, security and development of Nigeria, the statement added.
