MTN said on Monday its Nigerian division has been hit with a $5.2 billion (R71 billion) fine by the Nigerian Communications Commission (NCC), the country’s telecoms watchdog. By Gugu Lourie
The mobile phone operator inform investors that the fine relates to the timing of the disconnection of 5.1 million MTN Nigeria subscribers who were disconnected in August and September 2015 and is based on a fine of N200, 000 for each unregistered subscriber.
“MTN Nigeria is currently in discussions with the NCC to resolve the matter in recognition of the circumstances that prevailed with regard to these subscribers. We will continue to update shareholders in this regard,” the company informed investors on Monday.
Last week, the mobile phone operator said MTN Nigeria recorded a marginal decline in its subscriber base to 62,5 million subscribers, due to the disconnection of 5,1 million subscribers at the end of August 2015 in line with industry-wide regulatory registration requirements.
To date, 3,4 million of these subscribers have been reconnected.
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