By Chinenye Anuforo
A telecommunications expert, Ayoola Oke, has urged the federal government and the Nigerian Communications Commission (NCC) to reject dollar payment demands by foreign-owned operators from smaller and local operators in the country.
Ayoola, who stated this in a statement to Daily Sun said that the ongoing resolution between NCC and the telecoms players should comply with Section 15 of the CBN Act that makes naira the exclusive means of payment in and within Nigeria and between any two Nigerian companies.
The Lawyer recall that recently the Governor of the Central Bank in his frantic effort to shore up the value of the naira issued a statement reminding Nigerians that it is a criminal offence to refuse naira payment for goods and services transacted in Nigeria.
According to him, The problem for the Nigerian economy is that naira will continue to bleed its value if dollarization is not resisted.
Oke cited an instance of foreign-owned entities who are able to collect revenue in dollars would evade Central Bank control of repatriation of dollars out of the country, adding that the Federal Inland Revenue Service (FIRS) may also find it more challenging to monitor revenue of such companies and tax them appropriately.
“I am aware of confusion on a matter whereby the MTN and some major foreign-owned operators are demanding payment in dollars but I believe the NCC is looking into it with a view to resolution.
“The consultation between NCC and some smaller operators is ongoing and my position is that any resolution should comply with Section 15 of the CBN Act that makes naira the exclusive means of payment in and within NIGERIA and between any two Nigerian companies.
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“I believe recently the Governor of Central Bank in his frantic effort to shore up the value of the naira issued a statement reminding Nigerians of what I believe is a reference to Section 20 that makes it a criminal offence to refuse naira payment for goods and services transacted in Nigeria.
“The problem for the Nigerian economy is the naira will continue to bleed its value if dollarisation is not resisted.
“For example, foreign-owned entities who are able to collect revenue in dollars will be able to evade Central Bank control of repatriation of dollars out of the country.
“In addition, FIRS may also find it more challenging to monitor the revenue of such companies and tax them appropriately.
“In fact, we are all witnesses to the tax remittance controversy between MTN and FIRS currently making rounds in the news media,” he said.
Also, the Legal Luminary urged Nigerians to join hands to save the naira by not subrogating it with any foreign currency.
Oke, therefore, suggested that NCC should step in to reserve a minimum of 30% of in and outbound international traffic for routing through smaller locally owned Nigerian companies.
Ayoola added that foreign-owned companies must not be allowed to control the routing of all of Nigeria’s international traffic as this even raises national security and safety concerns.
“We as Nigerians need to join hands to save the naira by not subrogating it with any foreign currency.
“I suggest NCC should step in to reserve a minimum of 30% of in and outbound international traffic for routing through smaller locally owned Nigerian companies.
“Foreign-owned companies must not be allowed to control the routing of all our international traffic as this even raises national security and safety concerns,” he said.