Suspension on telecom giant's regulatory services lifted by NCC

folarin okunola

March 16, 2016 4:04 PM

MTN Group had, earlier this month, recorded a 51% percent drop in full-year profit as the company set aside R9.29 billion for the settlement of the record fine.

A customer leaves an MTN shop in Johannesburg April 10, 2012. REUTERS/Siphiwe Sibeko

Media reports reveal that the Nigerian Communications Commission (NCC) lifted its suspension of services to South Africa-based telecom giant MTN on Tuesday.

Nigerian CommunicationsWeek cites a statement from the company saying, “This restoration of regulatory services will enable MTN Nigeria to pursue the necessary approvals, in accordance with the NCC regulatory process, for new tariff plans and promotions as well as other regulatory matters."

MTN Group had, earlier this month, recorded a 51% percent drop in full-year profit as the company set aside R9.29 billion for the settlement of the record fine.

READ: Telecom giant says it will only pay N300 billion in NCC fine settlement proposal

Settlement talks between MTN and authorities in Nigeria are currently still ongoing.

The NCC had suspended regulatory services to MTN in October last year when the company was fined $5.2 billion for failing to disconnect about 5.1 million unregistered SIMs from its network. The fine was later reduced to $3.9billion.

MTN is currently Nigeria's biggest network with over 60 million subscribers.

folarin okunola