Globacom Nigeria is gradually losing grip on some of their one-time loyal customers as the huge debt the company owes Vendors, Wireless Applications Services Providers Association of Nigeria (WASPAN), lingers.
Some of the GLO service subscribers who are part of those owed have made a switch to other networks as they have lost trust and confidence in the Mike Adenuga owned company.
In a brief telephone chat with one of the over 48 companies owed by GLO, the embittered man who would like to maintain anonymity confirmed that as far as his office is concerned, they were all using GLO as their official lines, but as the telecommunication company is at verge of making them bankrupt, he passed an instruction to all those working under him to make a switch to other network which is more reliable, and poses no threat to his establishment.
Speaking to another Glo subscriber who has been on the network since inception, he confirmed since he heard about their many debts he has decided to make a switch to other network and as such advised all and sundry who might be on the network to exit before it will get too late.
“It’s so saddening and intolerable! I have been very loyal to this telecommunication company to the extent that I chose to invest in them but at the end of the day, they are proving that they don’t worth the commitment after all.
Another embittered investor confided in us that he is running bankrupt already just because he is trying to relate with the telecommunication company. “I took a loan from the bank so I can partner with GLO in providing wireless services. It has been over 3 years now, yet the company has blatantly refused to pay up and you expect me to stick with them? No! Things don’t work that way”, he voiced out over the phone.
Recall that few months ago, in a bid to recover the N2Billion debts, WASPAN had sent a petition to Nigeria Communication Commission (NCC) over the persisting issue with GLO but the company called the bluff of the regulatory commission and refused clearing the bills.
In the petition; WASPAN alleged that Globacom refused to pay them their 20% portion of revenue made by Globacom from Value Added Services rendered to its subscribers since 2013 which totals over N2billion.
They also complained that Globacom refused to give a detailed log of their services to show how much Globacom truly owes them.
Although the company has paid just about 10 Percent of the total debt owed, it is believed that , if fully investigated, GLO owes more than the N2billion they claimed as the total outstanding debts and their chances of paying more is quite slim.
It could be recalled that based on the contract signed with the vendors, Globacom earns 80 per cent of the revenue on Value Added Services, while the vendors earn 20 per cent.
Globacom is believed to have made not less than N11.2 billion from the Value Added Services rendered by the vendors.
A member of WASPAN said on the development: “We believe Globacom is relying on its existence as a Nigerian company to influence the decision of the regulatory body as it has done in past dispensations.
“Even the second letter written to Globacom has not made Globacom to pay up because they wrote back to NCC saying that they are working on the payments.
“Globacom is just out to kill Nigerian companies.
“Globacom cannot claim to be verifying the authenticity of the figures because the internal memo by the Marketing Department’s Accountant, Head of Revenue Assurance Department, Head of Internal Audit, the Director of Finance and the Director of Treasury showed that work on the revenue accruable to us had been finalized.”