MTN Proposes N300bn Settlement For NCC Fine

 

African telecommunication giant, MTN has offered to pay 300 billion naira ($1.5 billion) to settle a record fine levelled against it by the Nigerian Communications Commission (NCC) for failing to disconnect unregistered subscribers.

A letter from the company’s lawyer released on Thursday hopes to trim the $3.9 billion slammed on the company in October to $1.5 billion.

MTN Set Aside $600m For Nigerian Fine

South Africa’s MTN Group has set aside around $600 million to cover the potential settlement of a fine in Nigeria, the firm said on Thursday, as it posted a more than 50 percent drop in annual profit.

MTN is in talks with Nigerian authorities to reduce a $3.9 billion fine imposed last year for failing to cut off unregistered SIM card users, Reuters reported.