Glo Vindicated In N7.5B Interconnect Fee Dispute With MTN

Telecommunication company, Globacom has been vindicated in the alleged N7.5Billion interconnectivity debt dispute with competitor, MTN.

Contrary to claims by MTN it has been affirmed that Globacom is only liable to a payment of N2,368,290,400.81 in the now famous dispute.

The figure was established after the two parties met with officials of the Nigerian Communication Commission (NCC) to reconcile accounts at the industry regulator’s office in Lagos SocietyNow.Ng learned.

MTN had claimed that Globacom owed it a N7.5Billion interconnect fee that is inclusive of main interconnect charges of N1.6 billion, value-added tax of  N1.7 billion (paid on behalf of the other party) and a compounded interest of N3.6 billion.

Globacom roundly disputed the claims declaring that it has met its tax obligations with relevant agencies and the main interconnect charges of N1.6 billion have been paid and insisted on due diligence even as MTN took a hard stance against its operations to force payment – before the NCC stepped in to broker a truce added information available to SocietyNow.Ng revealed.

The due diligence insisted on by Globacom and umpired by NCC has now vindicated the indigenous telecoms operator.

The N2,368,290,400.81 is described as “the interest element of the interconnect debt due from Globacom to MTN”.

 Sure of its stand. Globacom is said to have provided a bank guarantee of N3,489,961,881.48 – before that due diligence – that now ensures MTN gets paid on request and the matter rested permanently.

Added information, however, revealed that while the matter may have been settled – it has thrown up questions about how it came to be and claims about certain associations in the telecommunication industry.