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We are Yet to Settle with Nigeria Over $5.2 billion Fine – MTN

MTN has denied reports it had reached an agreement with the Nigerian Communications Commission, NCC, regarding the US$5.2 billion fine slammed on its Nigerian entity.

MTN Group Spokesman, Chris Maroleng, however said the company continues to engage constructively with Nigerian authorities at all levels.

“However, the company has noted, with concern, the speculation and false information in the media,” MTN said late Tuesday.

MTN thus cautioned against reports purporting the company had agreed a resolution with the NCC on the fine.

“It is false as no resolution has yet been reached. MTN continues to engage the authorities in Nigeria on this matter.”

“To this end, all stakeholders have been reminded that MTN will inform them of any material developments in its engagements with Nigerian authorities via the Stock Exchange News Service of the JSE Limited (SENS),” MTN said.

Shareholders have also been asked to exercise caution when reacting to information that had not been released by the company.

The landmark fine slapped on MTN Nigeria last week follows its failure to cut services to more than 5 million unregistered clients.

MTN Nigeria is the biggest operator in the country with more than 62 million subscribers.




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Copyright 2015 SIGNAL. Permission to use portions of this article is granted provided appropriate credits are given to and other relevant sources.

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