The Committee on Corporate Social Responsibility (SCR) of the House of Representatives has decided to penalize MTN, Airtel, and other businesses for neglecting their corporate social obligations.
The committee declared that it would pass legislation penalizing violators in that area.
This was stated on Tuesday during a public hearing on “a bill to regulate corporate social responsibility in Nigeria” in Abuja by Oby Orogbu, the chairman of the Committee on Corporate Social Responsibility.
But she issued a final warning to MTN and Airtel to accept the committee’s invitation or risk having an arrest warrant issued for them.
Ms. Orogbu claims that because certain businesses in the nation have broken the law over time, sanctions are necessary.
She expressed disapproval of the actions of MTN, Airtel, and the National Communications Commission, noting that they had repeatedly turned down the committee’s invitation.
The legislator said that the committee was forced to use its authority and issue an arrest order.
The constitution’s Section 89, 8 requires specific firms to provide themselves to the parliament upon invitation, but they disobey the law.
“We will not put up with MTN and Airtel taking so much from our country and feeling too big to come before the parliament,” I want to let them know.
“We take offense to their refusal to accept the invitation from the parliament; we granted them the authority to operate in Nigeria.
“I have tried every tactful approach to help them realize that they must come before the legislature, but they have refused.
“You ought to come before the parliament if you believe you are accountable. We expect you to be accountable and responsible,” Ms. Orogbu said.
She noted that even though they were functioning from different parts of the country, they had disregarded the invitation from the House by not attending.
The governor of the Central Bank of Nigeria, Wondi Ndanusa, stated that the CBN supports the measure.
He said that the suggested jail sentence for corporations that default should be stronger. He voiced concern about it.
In addition, Mr. Ndanusa stated that the Corporate Affairs Commission ought to be the home of the planned SCR because many businesses were burdened with a lot of financial obligations.
The Oil Producers Trade Section’s Bala Wuoir voiced worry about the fact that the PIA already requires oil companies doing business in Nigeria to give the NDDC three percent of their earnings.
He added that oil firms should be spared from the bill and that it would be burdensome to make them do it again.
