MTN gets Nigeria lifeline

MTN has on Monday advised that the Nigerian Communications Commission has agreed not to impose a $5.2-billion fine on the company until ongoing discussions have been concluded.

The deadline for payment of the fine was set for 16 November 2015, having been imposed in August.

The fine relates to 5.2 million improper SIM cards which MTN failed to disconnect in Nigeria, opening the country up to “serious security threats”, according to the Nigerian Communication Commission.

“Shareholders are advised that the executive chairman of the company, Mr Phuthuma Nhleko, has personally met with the Nigerian authorities to continue the ongoing discussions with them regarding the fine of  N200,000 for each unregistered subscriber, the equivalent of US$5.2 billion imposed on MTN Nigeria by the Nigerian Communications Commission,” said MTN.

“These discussions include matters of non-compliance and the remedial measures that may have to be adopted to address this,” it said.

“The Nigerian authorities have, without prejudice, agreed that the imposed fine will not be payable until the negotiations have been concluded.”

MTN said it is committed to resolving the matter together with the NCC as soon as possible and will continue to update stakeholders via SENS.

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MTN gets Nigeria lifeline