The Nigerian Communications Commission (NCC) has reportedly slashed the fine slammed on MTN from the original N1,040,000,000,000 (One Trillion, Forty Billion Naira) to N674 Billion Naira. This was revealed this morning by MTN in a statement made available to Innovation Village.
According to the network, it received a formal letter dated 2 December 2015 from the NCC informing the Company that it has considered the Company’s request and has taken the decision to reduce the fine on the MTN Nigerian business which has to be paid by 31 December 2015.
The fine relates to the late disconnecting of 5.1 million MTN Nigerian subscribers in August and September 2015.
“The Company is carefully considering the NCC’s reply, however the Executive Chairman Phuthuma Nhleko will immediately and urgently re-engage with the Nigerian Authorities before responding formally, as 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.
