Friday, 4 December 2015

"MTN’s fine reduced to N780 billion ($3.9bn) ...not N674 billion ($3.4bn)" – NCC

Nigerian Communications Commission (NCC)
MTN has received a second letter from Nigerian Communications Commission (NCC) notifying the telecommunication outfit that its fine was reduced to N780 billion and not N674 billion, the Reuters reported Friday morning.

MTN had earlier thought its N1.04 trillion fine was reduced by 35 per cent but a second letter from NCC stated otherwise, reducing the fine by 25 per cent.

Late on December 3, a day after MTN has received a first letter, the company received another letter from NCC with an adjustment to the reduction in fine.

The second letter from NCC informed MTN that fine had been reduced by 25 pct to 780 billion naira and not by 35 pct to 674 billion naira but none of the letters sets out any details on how reduction was determined.

MTN is expected to pay the fine by December 31, 2015.

In the meantime, the Executive Chairman of MTN South Africa, Phuthuma Nhleko is expected to urgently re-engage with the Nigerian authorities before responding formally to the two letters.

MTN will hope that talks with NCC can lead to further reduction in the fine.

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