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NCC may reduce MTN’s N1.04tr fine

05 November 2015, 13:09

Abuja - There are indications that the Nigerian Communications Commission (NCC) may be asked to reduce the N1.04 trillion fine imposed on MTN Nigeria over non compliance in the deactivation of improper registered SIM cards, Vanguard reports.

This is after the Commission Tuesday, received a letter from the telecommunications company, apologizing for wrong doing and pleading for leniency.

MTN is seeking a reduction of up 80 per cent  of $5.2 billion fine imposed by the NCC.

The telecom firm is also considering borrowing money from banks to help settle the penalty.

Also read: MTN seeks to reduce' $5.2bn Nigeria fine

MTN has until November 16 to pay the penalty, which relates to the timing of the disconnection of 5.1 million subscribers and is based on a charge of 200 000 naira ($1 005) for each unregistered customer.

South African lawmakers were said to be planning to meet with the officials of MTN Group Limited to discuss why the company was fined $5.2 billion by the NCC.

The lawmakers also intend to summon the South African industry regulator to determine whether MTN is compliant with local rules, with hearings likely to take place next year.

Read more at Vanguard

- News 24

Tags mtn ncc

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