BREAKING NEWS, Business
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THE Nigerian Communications Commission, NCC, has reduced the $5.2 billion fine levelled against MTN Nigeria to $3.4 billion. According to BDLive online news, MTN is expected to pay the reduced fine not later than December 31, this year.
The NCC’s was communicated to the MTN on Wednesday, December 2. The MTN, on Thursday, December 3, acknowledged that it had received the formal letter from the commission on Wednesday and was carefully considering a reply. “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,” the company said.
The NCC had in October this year, imposed the $5.2 billion (N1.04 trillion) on the MTN, for its failure to deactivate 52 million lines on the GSM service provider’s network and was thus, given until November 16 to pay.
Several appeals were consequently made to the Nigerian government to temper justice with mercy. Meetings were also held with the NCC and MTN on why the company could not meet up with the payment deadline. All these possibly informed the decision of the NCC to reduce the fine to $3.4 billion.
— Dec 3, 2015 @ 13:45 GMT
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