MTN reacts to latest twist to Nigeria troubles

JOHANNESBURG , (CAJ News) – THE MTN Group says while it has noted reports out of Nigeria about the fine Nigerian Communications Commission (NCC) imposed last year, it will wait for an official position from the Government.

It has been reported the House of Representatives had decided to open a criminal investigation against alleged negligence of MTN in adhering to the provisions of laws and register the subscribers on its network, which led to the Boko Haram perpetrated in the Northeastern part of the country.

MTN said it continued to engage with Nigerian authorities in an attempt to ensure an amicable resolution to this matter in the interests of MTN Nigeria, its stakeholders and the Nigerian authorities.

“To this end, we shall await clarity and further guidance on the fine from the Federal Government of Nigeria,” the South African headquartered MTN said.

“Shareholders are therefore advised to continue to exercise caution when dealing in the company’s securities until a further announcement is made by MTN.”

NCC fined MTN US$5,2 billion (N1,04 trillion) for failing to deactivate more than 5 million unregistered SIM cards.

The regulator later reduced the amount to N780 billion after some negotiations.

MTN should have been made to pay N3.120 trillion for violating sections 19 and 20 of the registration of the telephone subscribers’ regulation.

– CAJ News

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Posted by on Mar 24 2016. Filed under Africa & World, Broadband, Featured, Finance, Mobile & Telecoms, National, News, Regional, Technology. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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