Say No Campaign Nigeria Urges Cbn To Uphold Sanctions On Mtn And Indicted Commercial Banks

The SAY NO Campaign Nigeria having reviewed several media reports and consulted with numerous stakeholders familiar with the CBN/MTN, Banks faceoff, can authoritatively confirm that there are attempts by unscrupulous elements in the private sectors and corridors of power working round the clock in ensuring that the sanctions by the Central Bank of Nigeria is undermined at all cost to the advantage of the defaulters. We are by this release, calling on all and sundry, to desist from tampering with any rule that does not favour them or their cronies as it relates to the sanction meted out to MTN and the said Banks in question.

The sanction meted out to MTN Nigeria and some commercial banks (Standard Chartered Bank, Citibank, Diamond and Stanbic IBTC) by the Central Bank of Nigeria, of over three trillion naira, for alleged financial infractions, violating the extant laws and regulations of the Federal Republic of Nigeria, communicates, in strong and unequivocal terms, Nigeria’s determination to fight corruption and deal decisively with Illicit Financial Flow (IFF). While this move by the Nigerian currency regulator is highly commendable, there is a need to ensure full compliance with the decisions of the apex bank of Nigeria.

Say No Campaign, without mincing words, supports such measures, that is, any measure that seeks to correct the array of corruption tendencies inherent in any sector of the society, and will therefore continue to work closely with stakeholders and anti-corruption agencies in exposing such acts of corruption that seeks to undermine the country’s economy and its fragile reputation. We frown at every attempt, by whomever and wherever placed, to intimidate the apex bank into reversing its earlier position on the defaulters. More importantly, the campaign will by its engagement on anti-corruption issues ensure that the interest of the common man is protected at all cost against the kleptomaniac tendencies and irresponsible behaviours of some selected few.

To this end, Say No Campaign urges the anti graft agencies to be extremely vigilant and monitor the operations of these indicted multinational companies and commercial entities in ensuring that under no circumstances should the conditions of the sanction be violated. We are by this release urging the Nigerian government and its officials to resist any attempt that may emanate from MTN or the commercial banks to relax any aspect of the fine/sanctions. The anti graft agencies and apex bank must also be mindful of moles in its fold as we are already aware of some elements in some parastatals working to ensure that the sanctions are subverted. We will expose without fear or favour those indicted as soon as we gather the facts.

While the campaign urges the media to remain watchful and keep the Nigerian citizens informed on the progression of the case, Nigerians are advised to be vigilant and expose any act that may subvert the decisions made by the apex bank as it concerns MTN and the indicted banks.

For us at SAY No Campaign Nigeria, we will continue to work assiduously in partnership with other civil society organizations, the media and anti craft agencies in ensuring that the general prosperity of the people – especially of unsuspecting citizens, is upheld at all times.

Thank you.
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Say No Campaign
Ethics and Corporate Compliance Institute of Nigeria

State Of The Union (SOTU)
Zero Corruption Coalition (ZCC)
Civil Society Legislative Advocacy Centre (CISLAC)
Accountability Maternal New-born and Child Health in Nigeria (AMHiN)

African Centre for Media and Information Literacy (AFRICMIL)

Centre for Democracy and Development (CDD)
Centre for Information Technology and Development (CITAD)

National Procurement Watch Platform (NPWP)
National Tax Justice and Governance Platform, Nigeria

Partners on Electoral Reform