MTN
MTN

The company, in a statement reaching Xinhua in Lagos, Nigeria’s economic hub, said the Chairman of the Company, Phuthuma Nhleko, had personally met with the Nigerian Communications Commission (NCC) to continue the ongoing discussions regarding the fine.

MTN
MTN
The mobile company giant added that the discussions included matters of non-compliance and the remedial measures that might have to be adopted to address it.

The NCC set a deadline for payment of the fine by Monday, Nov. 16, 2015.

“Shareholders are advised that the Nigerian authorities have, without prejudice, agreed that the imposed fine will not be payable until the negotiations have been concluded,” the MTN Group said.

The company said it was determined to resolve the matter with the Nigerian regulatory body as soon as possible and would continue to update stakeholders of any material developments regarding the afore-mentioned fine via the Stock Exchange News Service (SENS).

The company advised shareholders to continue to exercise caution when dealing in the company’s securities, until otherwise announced.

Meanwhile, the NCC on Monday said its decision to impose a fine on MTN was in the interest of national security.
Spokesperson for the commission Tony Ojobo said in a statement that the fine was a result of a violation of Section 20(1) of the Registration of Telephone Subscribers Regulation of 2011.

“The Section states that any licensee who activates or fails to deactivate a subscription medium in violation of any provision of these Regulations is liable to a penalty of 200,000 naira for each unregistered but activated subscription medium,” he added.

“Consequent upon the overwhelming evidence of non-compliance, and obvious disregard to the rule of engagement by MTN, the NCC had no choice but to impose the sanctions,” he said.

According to him, MTN, in a letter of Nov. 2, admitted the infraction and pleaded for leniency.

The fine on the company was the second in two months following its failure to deactivate all unregistered and improperly registered Subscriber Identification Module (SIM) Cards, Ojobo added.

He said while other operators complied with a seven-day ultimatum, MTN did not.

According to him, other operators were also sanctioned for non-compliance with the directive to deactivate the improperly registered SIM Cards. Enditem

Source: Xinhua

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