GLOBACOM ,Our Highest Debtors’ – FCDA To Shut Network over N1.3b debt - NEWS FRONTIER DAILY


Wednesday, September 8, 2021

GLOBACOM ,Our Highest Debtors’ – FCDA To Shut Network over N1.3b debt

 By Our Reporter

The Federal Capital Development Authority (FCDA) has stated that it would shut down Globacom Nigeria Limited telecommunications network in Abuja over non-payment of over N1.34 billion debt. 

 This was made known on Wednesday by the Chairman, Finance and General Purpose Committee of the 7th FCDA board, Hussaini Monguno. 

 Speaking after a visit to Glo’s infrastructure in Abuja, Monguno accuse the company of failing to act after several letters on the debt which had accumulated since 2004. 

He stated that the FCDA has given the committee the mandate to recover over N7.8 billion debt owed them by several telecommunication companies. 

 He said since the commencement of full liberalization of the telecommunication duct network in 2004 Globacom has not paid. 

Monguno said while other telecom service providers have responded positively, Globacom Nigeria Limited has failed to show any commitment. 

"FCDA has built this infrastructure to give them an enabling environment to operate. 

They have to reciprocate our effort by paying for the service. So, if they don’t pay the debt, we know what to do. 

They have signed an agreement, and the content of the agreement is very rich. We can do quite a lot, we can seal up this place and we can also disconnect them,” he said.

 Also speaking, the acting Executive Secretary, (FCDA), Zaliha’u Ahmed, said Globacom Nigeria Limited has said frustrated all efforts made to recover the debt. 

 She said Globacom’s indebtedness to FCDA on the lease of telecommunications duct amounts to N1,337,441,027.60 

 “We will not hesitate to seal up all their operations, with a view to ensure that they pay the debts. 

 “For the past six months, we have been writing them. We have written several letters and several reminders. 

We have invited them for meetings, but they disregard all these, so we don’t have any other option than to do what we are doing,” she said.

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