Nigeria reinstates regulatory services to MTN

2016-03-15 17:06 - Gareth van Zyl, Fin24
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MTN has received a $5.2bn fine in its biggest market Nigeria. (Bloomberg)


Johannesburg - Nigeria’s telecommunication regulator has lifted its suspension of services to MTN [JSE:MTN], the mobile network said on Tuesday.

The Nigerian Communications Commission (NCC) suspended regulatory services to MTN last year in October when the company was fined $5.2bn for failing to disconnect just over 5 million unregistered SIM cards. The NCC subsequently reduced the fine to $3.9bn.

“This restoration of regulatory services will enable MTN Nigeria to pursue the necessary approvals, in accordance with the NCC regulatory process, for new tariff plans and promotions as well as other regulatory matters,” said MTN in a statement.

MTN Group earlier this month recorded a 51% drop in full-year profit as the company has set aside R9.29bn for its record multi-billion Nigerian fine.

Talks between MTN and authorities regarding the fine settlement are still ongoing.

MTN is Nigeria’s biggest mobile network with over 60 million subscribers.

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