As the controversy over the N1.4 trillion fine on MTN lingers, the Nigerian Communications Commission (NCC) has given MTN Nigeria a deadline of 16 November to pay the fine imposed on it for failing to register the personal details of 5.1 million subscribers.
This deadline is coming after the South Africa’s stock exchange, JSE Ltd, launched an investigation into the timing of the operator’s announcement of its penalty.
According to a report, the spokesman for the Nigerian Communications Commission, the country’s telecoms watchdog, was quoted as saying that the outcome of the discussion may affect the date.
A statement by MTN said its CEO is still in talks with the Nigerian authorities and its senior management and advisers also talking to JSE, after the announcement of the fine knocked around 20 percent off the company’s stock price.
‘‘That’s why they are having the discussion so that they can reach a solution,” the spokesperson said.
The report also said Nigeria’s presidency and internal security agency are involved in the talks.
As for the JSE probe, the head of the regulatory division, Andre Visser, said “the investigation will follow due process to establish whether there have been any breaches of the listings requirements and can be a lengthy process.”
Under South African capital markets rules, companies are required to immediately warn shareholders of price-sensitive information.
Meanwhile, Fitch Ratings has revised MTN Group’s outlook to negative, owing “to the risk of a significant cash outflow due to a substantial fine imposed on MTN’s Nigerian operations, which could increase leverage and pressure MTN’s credit metrics.”

Source: http://www.vanguardngr.com/2015/10/mtn-gets-november-deadline-to-pay-n1-4trn-fine/

time to send MTN packing..

Evil plan by clueless NCC I hope they know what dey are doing.

BAD FOR MTN USERS

good, if they dont pay up before the deadline, fine them again.

Porting to Glo right away

interesting

Lalasticlala, Seun, Mukina2. Pls make road to promise land.

I have till december 6th for my BB month to expire.
They shouldn't pack yet. I know they won't pay.

Make them park go, their own don too much. People ready to buy am

Mtn..aaaahhhhh...ncc pls jes empty half of wat dey av in treasury...dey may b stubborn buh still ..pity..

Biko ncc
Eshanu won die

They really need cash, see their msg

Mtn pay or Go. Ntel dey show face and Buhari want use Mtn money supplement 2016 budget

If they did not pay let their network be disconnected because when my mb finish they also disconnect me so I don't care when they don't care about me.....

peterjero:
Evil plan by clueless NCC I hope they know what dey are doing.

Propose a better solution? Incentives guide the operation of businesses everywhere else in the world. Such disregard for institutions will not be condoned even in south Africa, their home country. They didn't follow simple directives and must be punished accordingly. Simple. There's a reason businesses operate within a space.

Am beginning to feel sorry for MTN

Nothing will happen jare.... Toothless NCC, sebi court dey there, November ko December ni... Rubbish..

udemzy101:
Nothing will happen jare.... Toothless NCC, sebi court dey there, November ko December ni... Rubbish..

Sure nothing would happen??

Can u bet on that?

Abbeyme:


Sure nothing would happen??

Can u bet on that?

Yeah... You think NCC is going to stop then from operating if they don't pay before death line?



Funny...

udemzy101:




Yeah... You think NCC is going to stop then from operating if they don't pay before death line?



Funny...

Yes,

They would be stopped from transmitting or more fine would be imposed on them,
Remember that a new Sheriff is in town!

The new govt has no time for nonsense and they need the money to finance the next year budget.
Besides, the SA Stock Exchange has reacted to the fine, so, MTN is bound by cooperate / financial responsibility to equally make provision toward the payment. Otherwise their investors would see them as insolvent.

In a nutshell, the earlier they pay-up, the better for their business.

Abbeyme:






Yes,

They would be stopped from transmitting or more fine would be imposed on them,
Remember that a new Sheriff is in town!

The new govt has no time for nonsense and they need the money to finance the next year budget.
Besides, the SA Stock Exchange has reacted to the fine, so, MTN is bound by cooperate / financial responsibility to equally make provision toward the payment. Otherwise their investors would see them as insolvent

In a nutshell, the earlier they pay-up, the better for their business.

Lol.... Story for the gods... No need to argue, let's wait till then, stop them transmitting ko..