"Get listed on the NSE or face penalties," Minister tells telcos

folarin okunola

February 23, 2017 2:03 PM

Shittu did not give a deadline but he did insist that telcos must allow their shares "to be open for public subscription at the NSE."

Minister of Communication, Adebayo Shittu

The Federal Government could be looking to force telcos to enlist on the

Minister of Communications Adebayo Shittu made the statement in Abuja at the launch of MTN and Lumos' launch of their portable, easy to install solar power home system.

According to Nigeria CommunicationsWeek report, while Shittu did not give a deadline (or even say what kind of penalties the government is considering for that matter), he did insist that telcos must allow their shares "to be open for public subscription at the NSE."

ALSO READ: Telcos want to cut off our access to Skype, WhatsApp, other OTT services

The minister also said the government was considering punitive actions it would take should the telcos fail to come through on the government's mandate.

Following last years' fine scandal between the Nigerian Communications Commission (NCC) and Nigeria's biggest telco, a deal was agreed on which included MTN getting listed on the NSE.

There is no indication as to why Shittu is making these statements now but we will keep monitoring the situation and keep our readers updated.

folarin okunola