MTN Begs: This N1.4trillion Fine Is Too Heavy For Us

Three days after Nigerian Communications Commission, NCC, slammed a N1.4 trillion penalty on MTN for failure to disconnect customers with unregistered SIM cards, MTN group has cried out that the fine was too extreme, even as it continues to engage the regulator on how to resolve the issue.

MTN Group claimed that NCC refused to listen to its plea to reconsider its stand on the penalty slammed on its Nigerian arm last week.

According to a report, MTN Nigeria spokeswoman, Chineze Gbenga-Oluwatoye, had said:

“recommendations were put forward with respect to the non-commensurable nature of the fine but the NCC did not accept recommendations that the fine of 200,000 Naira ($1,005) per SIM was too heavy.”
“MTN Nigeria contacted the regulator with concerns that a demand to disconnect SIM cards by a certain deadline would cause “severe disruption” for customers and recommended a staggered process to limit the possible impact,” said Oluwatoye.

As a result of the huge fine, MTN shares plummeted about 20% this week in Johannesburg. The biggest four-day drop since 2008, valuing the company at about 284 billion rand ($21 billion).

The NCC is seeking the penalties because MTN missed a deadline to disconnect 5.1 million subscribers and as a result MTN is now reviewing its management in the country.

Meanwhile, Financial analysts have pointedly said that Nigeria government is at risk of scaring off investors it can’t afford to lose if the N1.4 trillion fine slammed on MTN holds through.

That money is much....haha

On Top Waitin, That Is Too Much For Them, I Can See Maybe Dem Wan Make Dem Leav Nija, Bcos If No Be Dat Where Dem Wan Find That Kind Of Money, Na We Customer Go Suffer Am Oooooo.... Walahi.....

Dat money 2much

Mtn hv already make *100 of this b4 its paid time nw up next is dstv make federal government hammer them too

Mtn everwhere you go

Did I hear sum1 say d money 2 much? U beta tk ur tym!

Haha i wonder ooo they get money die Thks God this regime ready to break thre Yeye molopoly

Them deserve it even [You must be registered and logged in to see this link.] trillion they can afford it. I av 4000 of sims here registered since may i knw that with this problem all of them has be disconnected.

We are still coming with gud package b4 this month ends.

We are still coming with gud package b4 this month ends.

FG na our neck d money go rest upon o...

smile2012 wrote:

FG na our neck d money go rest upon o...

Abeg removed your neck then

LOLS

That's Good NCC..... This MTN Na Thieves...... Them swaff my 1K for BBC but dem no give me D BBC.... God don they Catch them

Thank God Sey I Get Etibaba, Glo And Airtel, If Mutum Nigeria Fumble, I Go Divert Oooo, But I Like Dem Service For My Side, Walahi...

Eti rock

Eti na Snail for My Side

What is my concern

oscar4free2air wrote:

Eti na Snail for My Side

ehya sorry bro

They should take it easy with them...they will bounce on us later

Let them try rubbish they are fire be that

BEFORE THEY WILL BE FIRE...??

Let them fire dstv jare

They Will Be Learn Through MTN now...

Ayusguy wrote:

They Will Be Learn Through MTN now...

true talk bro all this high payment must stop

ancl wrote:

Ayusguy wrote:

They Will Be Learn Through MTN now...

true talk bro all this high payment must stop

Dem Wan Turn Us To Slave....

Very painful

Ayusguy wrote:

ancl wrote:

Ayusguy wrote:

They Will Be Learn Through MTN now...

true talk bro all this high payment must stop

Dem Wan Turn Us To Slave....

previous government hv deliver us to them as slaves

Did i hear government deliever u

ancl wrote:

Ayusguy wrote:

ancl wrote:

Ayusguy wrote:

They Will Be Learn Through MTN now...

true talk bro all this high payment must stop

Dem Wan Turn Us To Slave....

previous government hv deliver us to them as slaves

fact.com

So funny sa

peter pan wrote:

Did i hear government deliever u

yeye

One Day Will Be One Day, We Shall Free From Dem Hand, Or You Think Sey Na Like Dis We Go Dey Waka Go.. Na Lie...

Ayusguy wrote:

One Day Will Be One Day, We Shall Free From Dem Hand, Or You Think Sey Na Like Dis We Go Dey Waka Go.. Na Lie...

yes bro, change we surely change the old system for sure

Very sure