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MTN Gets a Fine Reduction from NCC

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The Nigeria Communications Commission has finally listened to MTN’s plea for the reduction of fine imposed on the company for failure to deactivate unregistered SIM cards or SIM cards not properly registered. MTN has released a statement saying that NCC has reduced the fine to $3.4 billion which is equivalent to N674 billion.

According to the statement released by MTN which is the leading telecommunication industry in Nigeria, a formal letter on the reduction of fine has been issued to the company by NCC. In the statement, MTN said that the letter was dated 2 December 2015. The statement also mentioned that the deadline for the payment of the fine was put on 31 December 2015 which is the last day of the year.

It would be recalled that MTN was fined N1.04 trillion for failure to disconnect subscribers that are using unregistered SIM cards or SIM cards with incomplete information. Since then MTN has continued to plead for mercy requesting for a reduction in the amount of fine imposed. The company has said that the N1.04 trillion was more than their two years profit in the country.

MTN is now manned by a new management following the resignation of the then Executive Chairman.

In the statement, MTN said that, as it considered the reply of NCC, it was important for it to follow due process to ensure the outcome would be better for the company, its stakeholders and authorities of the country. Consequently, the statement said that before an official response is given, Phuthuma Nhleko, the Executive Chairman of the company would meet with the Nigerian Authorities again. The telecom giant said that it would take into consideration all factors concerning the situations before a final decision is taken.