Telecoms giant seeks 'leniency' from NCC, Presidency

folarin okunola

November 4, 2015 11:19 AM

The Nigeria Communications Commission (NCC) had fined MTN $5.2 billion (N1.04 trillion) for failing to deactivate pre-registered SIM cards on its network.

Sifiso Dabengwa has resigned from his position as CEO of MTN Group

Various media reports reveal that South Africa-based MTN Group has written to the regulatory authorities in Nigeria seeking ‘leniency’ and requesting a review of the N1.04 trillion fine imposed on MTN Nigeria or failing to cut off unregistered SIM card users.

Nigeria CommuncationsWeek reports that MTN sent a copy of the letter addressed to the NCC to the Presidency as well as providing specific details about the review.

READ: Telecoms giant renews Nigeria operating spectrum, licence

The Nigeria Communications Commission (NCC) had fined MTN $5.2 billion (N1.04 trillion) for failing to deactivate pre-registered SIM cards on its network.

The fine has resulted in MTN losing about $4.7 billion in value since the news broke. The company’s shares has also plummeted considerably with the Group’s CEO, Sifiso Dabengwa, currently in Nigeria to negotiate with regulatory authorities.

folarin okunola