“This fine relates to the timing of the disconnection of 5.1 million MTN Nigeria subscribers who were disconnected in August and September 2015 and is based on a fine of 200,000 naira for each unregistered subscriber.”
The fine was imposed because MTN did not timeously disconnect customers with unregistered SIM cards.
“MTN Nigeria is currently in discussions with the NCC to resolve the matter in recognition of the circumstances that prevailed with regard to these subscribers. We will continue to update shareholders in this regard.”
MTN spokesman Chris Maroleng could not immediately be reached for comment. There were reports that the news caused MTN’s shares to drop five percent in trading on Monday afternoon.
-African News Agency