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 Must Pay N1.04 Trillion Fine in Full-House Of Reps Insist

 

The Chairmann House of Representatives Committee on Telecommunications, Hon. Sajeed Fijabi, on Wednesday insisted that MTN Nigeria should be made to pay the N1.04 trillion fine in full instead of reducing it to N780bn.

The Nigerian Communications Commission, NCC, had in October 2015 slammed an initial fine of N1.04 trillion on the telecom company for failing to disconnect 5.2 million unregistered subscribers on its network but was later reduced to N780 billion and gave the network provider till December 31, 2015 to pay up after the company had pleaded for leniency.

MTN to Cut Dividend Amid Nigerian Market Uncertainty

 

 

MTN Group has reported a 0.1 percent increase in revenue to ZAR 147.1 billion in 2015 from ZAR 146.9 billion in 2014. 

 

Revenue remained flat largely because of a decline in voice revenue in Nigeria and a reduction in handset revenue in South Africa after industrial action in the first half of the year that led to lower device sales. 

 

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.

Federal Government, MTN Seek Modalities on Payment of N730bn Balance of Fine

The Nigerian Communications Commission (NCC) has said it is continuing talks towards the resolution of the N780 billion fine slammed on MTN.

A statement by its spokesman on Monday by Tony Ojobo, said the “receipt of the amount, and withdrawal of the suit is without prejudice to the final decision of government on the terms of payment being proposed by the company”.

MTN Withdraws Case Against Nigerian Regulator

 

 

South African telecoms firm MTN Group has withdrawn its legal action against Nigeria's regulator over a $3.9-billion fine and paid $250-million towards a possible settlement, the company said in a statement on Wednesday. 

 

Africa's leading telecoms firm was fined by the Nigerian Communications Commission in October for failing to disconnect unregistered SIM users, prompting weeks of lobbying to reduce the fine. 

 

MTN launches SIM Registration Campaign, Plans LTE Rollout

MTN Nigeria, the country’s largest mobile operator by subscribers, has launched a campaign for the re-registration of its more than 60 million users, reports local newspaper the Daily Trust, citing MTN Nigeria’s new CEO Ferdi Moolman. Subscribers are being invited in batches to register their details at the firm’s SIM registration centres across the country. Last October MTN was fined by the Nigerian Communications Commission (NCC) for failing to meet a deadline to disconnect around 5.1 million unregistered subscribers. The NGN1.04 trillion (USD5.2 billion) penalty was subsequently reduced by 25% to NGN780 billion, but MTN failed to meet the 31 December 2015 payment deadline set by the NCC, and is now challenging the fine in the Federal High Court in Lagos.

Govt Insists On Payment of U.S.$3.9 Billion, MTN

 

Mr Adebayo Shittu, minister of Communications, said that the federal government would neither be cowed nor threatened by MTN's court action against the N1.4trn (about $5.2 billion) fine which was later reduced to N780 billion ($3.9 billion), insisting that the telecommunications company risks another fine if it fails to pay on deadline.

Shittu stated this in reaction to the suit instituted by the telecom operator at a Lagos High Court.

Mr. Victor Oluwadamilare, special assistant on Media to the minister however, admitted that MTN had the right to seek court's interpretation if it feels unsatisfied with the action of the regulator but made it clear that nothing would stop the government from imposing additional fine on the operator, at the expiration of the deadline.

Federal Government to Slam Another Fine on MTN If They Fail To Meet December 31 Deadline

The Federal Government has warned telecommunication company, MTN that it would not be intimidated by its court action over the N1.04trn fine imposed on the company which was later reduced to N780bn, stressing that it stands the risk of another fine if it fails to meet up the December 31 deadline.

This was disclosed in a statement issued by the Minister of Communications, Adebayo Shittu, on Monday while reacting to the suit filed by MTN at a Lagos High Court over the weekend.

Speaking through his Special Assistant on Media, Victor Oluwadamilare, the Minister however admitted that MTN had the right to seek the court’s

MTN to Fight Record Fine in Court

MTN is taking the legal route in its efforts to have its landmark fine imposed on its Nigeria subsidiary reviewed.

The company said, acting on legal advice, it had resolved that the manner of the imposition of the fine and the quantum thereof was not in accordance with the Nigeria Communications Commission's powers under the Nigerian Communications Act.

MTN therefore argued there were valid grounds upon which to challenge the fine.

"Accordingly MTN has followed due process and has instructed its lawyers to proceed with an action in the Federal High Court in Lagos seeking the appropriate reliefs," the company stated from Johannesburg.

MTN said it was advised that in the current circumstances in line with the lis pendens rule (pending legal action) the parties are enjoined to restrain from taking further action until the matter was finally determined.

"This is consistent with previous judicial decisions in Nigeria," the company said.

MTN said notwithstanding this action the Company will continue to engage with the Nigerian Authorities to try and ensure an amicable resolution in the best interests of the Company, its stakeholders and the Nigerian authorities.

"Shareholders are therefore advised to continue to exercise caution when dealing in the Company's securities until a further announcement is made."

NCC fined MTN Nigeria N1,04 trillion (US$5,2 billion) for failure to disconnect over 5 million unregistered subscribers.

Source: All Africa News

MTN pays $196 mln to Buy Licences in Ivory Coast, Ghana

Investors have shunned MTN after Nigerian authorities handed it a $5.2 billion fine for failing to cut off users with unregistered users.(REUTERS)


South Africa's MTN Group has paid $196 million in total for operating licences in Ghana and Ivory Coast, it said on Thursday, cementing its position in West Africa, where it also faces problems in Nigeria over a hefty fine.