The South African telecommunication giant, MTN Nigeria has issued a statement stating that the Nigerian government has shifted the deadline for payment of $5.2billion fine imposed on the company over its failure to disconnect telephones of over 1 million unregistered mobile phone users in the country.
The Executive Chairman of MTN Nigeria, Mr Phuthuma Nhleko, has personally met with the Nigerian authorities to continue the ongoing discussions with them regarding the fine of N200,000 for each unregistered subscriber (“the fine”), the equivalent of US$5.2 billion imposed on MTN by the Nigerian Communications Commission (“NCC”). These discussions include matters of non-compliance and the remedial measures that may have to be adopted to address this.
Although the Nigerian Communications Commission (“NCC”) set a deadline for payment of the fine by Monday, 16 November 2015, MTN Nigeria 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.
MTN is committed to resolving the matter together with the NCC as soon as possible and will continue to update stakeholders of any material developments regarding the afore-mentioned fine via SENS.
MTN Nigeria and Nigeria are still in negotiations, the company added.