December 4, 2015 IBOMLLC Team

NCC Slashes The $5.2Bn Fine To MTN To $3.4Bn To Be Paid By Dec 31

Innov8tiv
Innov8tiv – Blacks In Technology in USA, UK, Caribbean Islands & Africa

MTN said to its shareholders on Thursday during a market update that the Nigerian Communications Commission (NCC) has agreed to reduce the $5.2bn fine charged to the telecom. A fine charged as a result of the telecom failing to disconnect some five million SIM cards in Nigeria.

The fine charged by NCC to MTN now stands at $3.4bn, and the telecom needs to pay the sum by December 31 2015. MTN has also announced changes in its management; former CEO rendered his resignation amid the multi-billion dollar fine in Nigeria. On Thursday, again MTN announced that Michael Ikpoki the MTN Nigeria CEO and head of regulatory and corporate affairs Akinwale Goodluck have resigned.

MTN Nigeria’s former Chief Operating Office and Chief Financial Officer, Ferdi Moolman will replace the outgoing CEO. Amina Oyagbola will take the position of MTN Nigeria’s head of regulatory and corporate affairs.

The turmoil currently rocking MTN Group made its share price fall by a fifth.

Related: Nigeria’s $5.2 billion Fine on MTN Nigeria Prompts President Zuma and President Buhari Meet up

NCC Slashes The $5.2Bn Fine To MTN To $3.4Bn To Be …read more

Read more here:: NCC Slashes The $5.2Bn Fine To MTN To $3.4Bn To Be Paid By Dec 31

      

IBOM LLC

We're passionate about your business and we only offer the best solutions.