Johannesburg - The Nigerian Communications
Commission (NCC) has reduced the fine it imposed on MTN Nigeria after its
failure to disconnect unregistered subscribers.
The South African-headquartered company disclosed it had
received a formal letter dated December 2 from the NCC informing the company
that, after considering MTN’s request, it has taken the decision to reduce the
fine on the MTN Nigerian business from the original N1,04 trillion (US$5,2 billion) to N674 billion ($3,4 billion), which has to be
paid by December 31.
The fine relates to the late disconnecting of 5,1 million
MTN Nigerian subscribers in August and September 2015.
The company said it was carefully considering the NCC’s
Also Read: Breaking: MTN Nigeria CEO Ikpoki quits
It said Executive Chairman, Phuthuma Nhleko, would
immediately and urgently re-engage with the Nigerian authorities before
“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,” MTN stated.
It was earlier announced MTN Nigeria Chief Executive, Michael
Ikpoki, had resigned.
Shareholders have been advised to continue to exercise
caution when dealing in the company’s securities until a further announcement
- CAJ News