Johannesburg - MTN is taking the legal route in its efforts
to have its landmark fine imposed on its Nigeria subsidiary reviewed.
The company said, acting on legal advice, it had resolved
that the manner of the imposition of the fine and the quantum thereof was not
in accordance with the Nigeria Communications Commission’s powers under the Nigerian
MTN therefore argued there were valid grounds upon which to
challenge the fine.
“Accordingly MTN has followed due process and has instructed
its lawyers to proceed with an action in the Federal High Court in Lagos
seeking the appropriate reliefs,” the company stated from Johannesburg.
Also read: SA minister speaks on MTN's Nigeria fine
MTN said it was advised that in the current circumstances in
line with the lis pendens rule (pending legal action) the parties are enjoined
to restrain from taking further action until the matter was finally determined.
“This is consistent with previous judicial decisions in
Nigeria,” the company said.
MTN said notwithstanding this action the Company will
continue to engage with the Nigerian Authorities to try and ensure an amicable
resolution in the best interests of the Company, its stakeholders and the
“Shareholders are therefore advised to continue to exercise
caution when dealing in the Company's securities until a further announcement
NCC fined MTN Nigeria N1,04 trillion (US$5,2 billion) for
failure to disconnect over 5 million unregistered subscribers.
– CAJ News
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- CAJ News