The $5.2 billion fine on MTN Nigeria by the Nigerian Communications Commission (NCC) was condemned by Ben Murray Bruce Senator representing Bayelsa East, saying that this will probably scare away investors from the country.

The Senator’s disagree with the NCC on the fine, describing it as probably the most damaging action ever taken against Nigeria’s drive for Foreign Direct Investment.”

According to him MTN actions might be deserving of strong rebuke from authorities, “the fine imposed by the NCC sends wrong signals to investors”.

Bruce, who said the NCC’s action was already sending signals to the financial world, added that the fine was creating the impression that Nigeria was “in a desperate financial situation due to the sudden drop in crude oil prices and wants to get alternative revenue by any means necessary”.