Share

MTN fine must 'be doubled' - Nigeria lawmaker

Cape Town - MTN Group should pay double the $5.2bn it was originally fined by Nigeria’s telecommunications regulator in 2015, according to the spokesperson for the West African country’s House of Representatives.

Africa’s biggest wireless operator must pay 400 000 naira ($2 015) for each of the 5.2 million unregistered phone lines it failed to deactivate before a deadline, instead of 200 000 naira, lawmaker Abdulrazak Namdas said in a phone interview from Abuja, Nigeria’s capital.

He also said the lower chamber will “investigate” why Johannesburg-based MTN has been dealing with Nigeria’s attorney general instead of the Nigerian Communications Commission in trying to get the fine reduced.

While the penalty was cut to $3.9bn earlier this year, MTN proposed this month to pay $1.5bn in cash and instalments to settle it.

MTN’s proposal includes $252m that was paid in February in order to continue negotiations.

MTN spokesperson Chris Maroleng said the company wouldn’t comment on the Nigerian lawmakers’ call.

“We note ongoing media report coming from Nigeria,” Maroleng said. “But we cannot be drawn into commenting on the matter as we are awaiting clarity and an official position from the Nigerian government on the matter.”

He added MTN would guide the market accordingly “when there is more clarity on the matter”.

Shares in MTN, which have declined 38% during the last 12 months, rose 0.9% to close at R128.64 in Johannesburg on Tuesday.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
19.21
-0.5%
Rand - Pound
23.89
-0.4%
Rand - Euro
20.53
-0.4%
Rand - Aus dollar
12.47
-0.6%
Rand - Yen
0.12
-0.4%
Platinum
912.60
-0.8%
Palladium
1,014.00
-1.2%
Gold
2,332.67
+0.5%
Silver
27.34
+0.1%
Brent Crude
88.42
+1.6%
Top 40
68,574
+0.8%
All Share
74,514
+0.7%
Resource 10
60,444
+1.4%
Industrial 25
104,013
+1.2%
Financial 15
15,837
-0.4%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders