MTN Nigeria has been given a two months extension window to settle with the Nigerian authorities over its $3.9 billion fine imposed on it by the Nigerian Communication Commission (NCC) in 2015.

This followed the adjournment of the case to 18 March 2016 by a Federal High Court in Lagos‚ on Friday over the $3.9 billion that MTN Nigeria has been fined by that country’s regulator.

A statement by the telecom giant, said that the two months extension was to enable the parties to try and settle the matter out of court.

“If the parties are unable to reach a settlement the matter will then proceed on that date‚” the company said.

It therefore advised the company shareholders to exercise caution when dealing in the Company’s securities until a further announcement is made.

MTN had gone to court to challenge the fine in court‚ as it argued that the size of the fine and the way it was imposed were not in accordance with the commission’s powers under the Nigerian Communications Act‚ Business Day reports.

According to the company, the penalty is substantially larger than it’s annual profits.
The Chief Executive Officer of MTN Nigeria, Mr. Ferdi Moolman explained that the fine could bankrupt the company as it represented 95 per cent of its annual turnover.

Meanwhile, MTN Group limited share rose the most in more than six years.
The share rose as much as 9.3 percent, the biggest gain since May 2009, before paring gains to 121.43 and at 1:27 p.m,Friday in Johannesburg.

The fine, which was reduced from an earlier $5.2 billion, was levied on MTN for failing to meet a deadline to disconnect 5.1 million unregistered subscribers, as security agencies seek to fight crime and Islamist militants.
“If the parties are unable to reach a settlement the matter will then proceed on that date,” MTN said.

www.leadership.ng/business/494403/mtn-gets-two-months-extension-pay-ncc-fine

Make Them leave this people naa
FTC On Fp...I Must Pop Champagne First Time oo

lalasticlala.....

Mtchew! At the end, the government wont do anything....chillaxxx, you will see it yourself

They'll keep extending it until the whole story fizzles out

The MTN I know won't pay

MTN should please pay our money.

b

Fresh outta ban.
In another news



















8th

H

ok

o

Lol

It shows MTN is more powerful than NCC... If this continues, they will end being freed from the fine.

I hope they extend the courtesy by not charging me for caller tunes i did not subscribe for !!!!


Damn

Ah, this has finally sealed the deal. MTN would pay the NCC five naira only as their fine. With the way the federal government drags this issue it's obvious MTN is on the winning side.

Hurry up and pay...Nigerian Government needs all the cash it can get right now.

Ok

For refusing to disconnect 5.1 million subscribers. Dammit, mtn should also be tried and fined for treasonable felony. I can only imagine the boko haramites taking advantage of the loophole mtn created. Abegi, the fine is justified.

Mtcceeew.. As if i knew!!!! naxo dem go dey shift am dey go.. Mean while, abeg, where dem dey sell rat killer?

Well all the best to MTN.









ThefakeStan

Welcome to nigeria. Where everything can be bargained. Come to think of it, shareholders of mtn, are they not in the govt?

Na wa o!
So, pricing of market has gone international in this country!
So, buhari's body language didn't scare them into paying up?
You fine someone, reduce the fine by yourself, they take you to court and now have the audacity to talk of 'settlement'?!
These guys must be shocked that anytin wey dem talk, 9ja go gree!
I thought this govt was goin on about how mtn lines were used by terrorists? And wasn't the govt vehemently against plea bargaining?
Besides, remember how much bp was fined for the oil spill near the us?
$12billion!
And una dey hia dey prize market with mtn?! Wish kyn mumu dey dis govt?

c

These NCC guys are not serious

The fine needs to be increased, look at what south Africans are doing to our Nigerians over there.

NCC why the 2 months naa. This MTN go kill pesin finish to get that money pay.

FG keep embarrassing themselves... You have a deadline now you are giving an extension... Yeye dey smell...

omusiliyu:
MTN should please pay our money.

Don't mind mtn jare.They should paid that money,they are too stingy.They credited my mtn acct with 5k after sim registration, yet i cannot use it to make international calls and they want me to finished d airtime within seven days.Mtn i hail una.

Mtn, since you've been given two months extension, then give your subscribers 1 year extension to register their sim cards.