BUSINESS - Original MTN Reduced Fine Was A Typo

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MTN Nigeria

Things are getting bizarrely interesting with every call one makes. One recalls that in October, the Nigerian Communications Commission penalized MTN for failing to cut off its unregistered users with a $5.2 Billion fine. The South African owned company has since made some senior internal changes, particularly with the resignation of CEO Sifiso Dabengwa. 

After complaints from MTN, the fine was reduced from $5.2 Billion to $3.4 Billion. However the most recent news from an NCC spokesman, Mr. Tony Ojobo, is that the reduction was by 25%. In other words, there was a typographical error. "We saw the mistake and had to fix it." He has clarified that the correct amount to be paid by MTN before 31st December 2015 is actually $3.9 Billion - not $3.4 Billion as originally believed. 

It is worth noting that even though MTN has over 230 million subscribers in 22 countries across the Africa, Asia and the Middle East, Nigeria is regarded as MTN's largest and most profitable market.

(c) JuicyChitChats 2015. [Saturday 5th December]

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