Below is the communique sent to MTN staff and share holders.

Herewith a further update on the fine imposed on MTN Nigeria and renewal of cautionary announcement: Further to the SENS announcement issued by the Company on 4 December 2015, shareholders are advised that all factors having a bearing on the matter have been thoroughly and carefully considered including a review of the circumstances leading to the fine and the subsequent letters received from the Nigerian Communications Commission (NCC).
MTN Nigeria acting on legal advice has resolved that the manner of the imposition of the fine and the quantum thereof is not in accordance with the NCC’s powers under the Nigerian Communications Act and therefore there are 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. MTN is 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 is finally determined.This is consistent with previous judicial decisions in Nigeria.

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. As advised previously, we will keep you updated as the matter unfolds. I encourage you to continue focusing on our customers and strive to keep our promise to provide the bold, new Digital World to them.

Regards, Phuthuma

http://www.metronaija.com/2015/12/mtn-takes-nigerian-government-to-court.html

cc: lalasticlala

Fight corruption! Corruption will fight you back!!

Nonsense they happen for dis country...can't the NCC close MTN ni,,can a Nigerian company act like dis in SA?

Those who have more concrete information about this should say something.

First, the $5b figure was calculated by the number of subscribers that were not blocked and the number of days for which they were not statutorily blocked. It's not like the NCC pulled the figure from their ass. MTN consented to the regulation.

Also, this is not the first fine imposed by the NCC, so I wonder why MTN thinks the commission does not have the jurisdiction to impose and collect that fine.

People like myself were being considerate and impressioned on the government to reduce the fine. Finally, the government reduced the fine by $1b.

Now, MTN is taking the government to court about the fine? I will wait for a few days to confirm that this story is true. If it is then I will do my little as a concerned citizen to pressure the government to reinstate the full fine. Including any legal cost incurred by the government during the litigation.

In fact NCC should put a deadline. If they don't pay up by then, they should withdraw part of their license to operate or increase the fine more.

What nonsense!

olokeded:


the parties are enjoined to restrain from taking further action until the matter is finally determined.This is consistent with previous judicial decisions in Nigeria.

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

cc: lalasticlala

When you take the two bold part together, isn't that a contradiction and like wanting to eat your cake and have it back?
1. the parties are enjoined to restrain from taking further action until the matter is finally determined
2. Notwithstanding this action, the Company will continue to engage with the Nigerian Authorities to try and ensure an amicable resolution

...and yet you have gone to court...?

I think lawyers, because of what they will eat are the problems of this world. Why not exhaust the 2nd option before going to court.

It is okay. It may take time but will still pay it. MTN is only postponing the evil day.

may OGUN break and scatter that useless MTNetwork.I'm unable to use my internet for the past 3 days now.dey shud close shop and go back to their country if dey nor wan pay the fine

Shuuu!!! what is that company saying? 2016 budget must be implemented it's already part is our expected revenue

The way things are going, mtn will bribe our corrupt judges and they will not pay a dime