MTN N1.4trn fine: FG calls MTN’s bluff, says Dec 31 deadline subsists

LAGOS — The Federal Government, yesterday, said it would neither be cowed nor threatened by MTN’s court action against the N1.4trn fine which was later reduced to N780 billion, insisting that the telecommunications company risks another fine if it fails to pay on deadline.

Minister of Communications, Mr Adebayo Shittu, made the statement yesterday in reaction to the suit instituted by the telecom operator at a Lagos High Court, weekend.

MTN takes fight over Nigerian fine to court

MTN on Thursday said it was taking the Nigerian Communications Commission (NCC) to court over a $3.9bn fine imposed on the group for the alleged breach of rules on SIM-card registrations.
 
Its shares soared 6.31% to close at R138.20 on the JSE.
MTN was initially fined $5.2bn for not disconnecting 5.1-million unregistered subscribers as requested by the NCC. The fine has since been reduced and was due to be paid at the end of this month.

MTN Nigeria Fine Cut 35% to $3.4 Billion as Local CEO Quits

• Fine payable by the end of December, Nigerian regulator says
• MTN's chairman will consider penalty, to consult further
   
  The Nigerian telecommunications regulator cut the fine imposed on MTN Group Ltd. to $3.4 billion from a record $5.2 billion and the chief executive officer in the country quit as part of a wider management shake-up at Africa’s biggest mobile-phone operator.
  

Nigeria MTN licence renewed but penalty still an issue

MTN offered some good news out of Nigeria on Tuesday, saying the authorities had renewed its licence for another five years.

After a torrid week, its stock rose 5% to close at R155.54 after the announcement.

It is however still caught up in a crisis over a $5.2bn fine from the Nigerian Communications Commission (NCC) for unregistered SIM cards on its network and on Tuesday it was unclear whether the payment of the fine was linked to the renewal.

Its original licence was issued in 2001 and is due to expire in February next year.

The five-year licence period is much shorter and could put further pressure on MTN in its single largest market.

Asked why the licence was only renewed for five years NCC head of public affairs Tony Ojobo said the period was the same for all operators. He did not provide further details on what the decision was based.