Nigeria reduces MTN’s fine to USD3.4bn

3 Dec 2015

The Nigerian Communications Commission (NCC) has informed MTN Group that it has taken the decision to cut the fine imposed on the firm’s Nigerian unit from NGN1.04 trillion to NGN674 billion (USD5.2 billion to USD3.4 billion), following discussions between the parties. The South African company has been given until 31 December 2015 to pay the reduced fine, which was issued to MTN Nigeria in October, after it failed to meet a deadline to disconnect around 5.1 million unregistered subscribers.

In a statement issued by MTN Group’s Corporate Affairs department, the company said it is ‘carefully considering the NCC’s reply’, but added that 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 the company, its stakeholders and the Nigerian authorities, and accordingly all factors having a bearing on the situation will be thoroughly and carefully considered before the company arrives at a final decision.’

Nigeria, MTN Group, MTN Nigeria, Nigerian Communications Commission (NCC)