Home News NCC Fine: We Await Further Guidance from Federal Government, Says MTN

NCC Fine: We Await Further Guidance from Federal Government, Says MTN

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Telecommunication giant, MTN, has said it is awaiting further directive from the Federal Government with respect to the settlement of the fine imposed on it for breach of subscribers registration deadline by the Nigeria Communication Commission.

NCC had slammed a fine of N5.2trillion on MTN for its failure to disconnect 5.1 million unregistered subscribers after the deadline.

After mounting an initial legal challenge against the hefty fine, MTN later withdrew the courts case and paid N50billion as down payment to settle the crisis.

A visit by South African President Jacob Zuma failed to move President Muhammadu Buhari over the fine.

But on Thursday, the MTN Group said in a statement that it had “noted reports out of Nigeria about the fine imposed on MTN Nigeria by the Nigerian Communications Commission (NCC).

“MTN has previously advised shareholders not to make decisions based on press reports and MTN again urges its shareholders to refrain from doing so.

“MTN continues to engage with Nigerian authorities in an attempt to ensure an amicable resolution to this matter in the interests of MTN Nigeria, its stakeholders and the Nigerian authorities.

“To this end, we shall await clarity and further guidance on the fine from the Federal Government of Nigeria.

“Shareholders are therefore advised to continue to exercise caution when dealing in the company’s securities until a further announcement is made by MTN”.

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