MTN Nigeria fine reduced by a third - TechCentral

MTN Nigeria fine reduced by a third

Phuthuma Nhleko

Phuthuma Nhleko

The Nigerian Communications Commission (NCC) has decided to reduce the record-setting fine imposed on MTN by 35%, the telecommunications group said on Thursday.

The size of the fine remains by far the largest fine ever imposed on a telecoms operator by a regulatory agency anywhere in the world.

MTN said on Thursday that the NCC has reduced the imposed fine on MTN Nigeria to 674bn naira (US$3,4bn), from 1,04 trillion naira ($5,2bn) previously for failing to cut off 5,1m unregistered Sim cards in time for an August deadline.

The fine has to be paid in full by 31 December.

“The company is carefully considering the NCC’s reply,” the group said in a statement.

It said group interim executive chairman Phuthuma Nhleko will “immediately and urgently re-engage with the Nigerian authorities before responding formally, as it is essential for the company to follow due process to ensure the best outcome” for MTN, its stakeholders and the Nigerian authorities.

“All factors having a bearing on the situation will be thoroughly and carefully considered before the company arrives at a final decision,” it said.  — (c) 2015 NewsCentral Media

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