Nigeria cuts drastic fine for MTN to $3.4 billionStaff writer ▼ | December 3, 2015
The Nigerian Communications Commission (NCC) reduced imposed fine to $3.4 billion to be paid until the end of the year.
Communications MTN has received a formal letter with new fine
The fine relates to the late disconnecting of 5.1 million MTN Nigerian subscribers in August and September 2015.
The company is carefully considering the NCC’s reply, however the executive chairman Phuthuma Nhleko will immediately and urgently re-engage with the Nigerian Authorities before responding formally.
Shareholders are therefore advised to continue to exercise caution when dealing in the company’s securities until a further announcement is made. ■