Nigeria Reduces MTN’s Fine By the Third

Africa’s largest mobile operator, MTN, has succeeded rolling around in its bid to lessen a $5.2bn to 3.4bn) fine imposed by Nigerian authorities for unable to take off unregistered users.

Nigeria wants cell phone companies to confirm the identity of their customers.

The federal government says it’s concerned unregistered Sim cards are being used by criminal gangs.

The South African company has been talking with authorities since October if the original fine was imposed.

It said on Thursday it had succeeded in reducing the fine by the third.

The original fine amounted to double MTN’s annual profits a year ago.

Since it was imposed by the Nigerian Communications Commission (NCC), MTN makes numerous senior managerial changes, which included the resignation of the president of their Nigerian unit, Sifiso Dabengwa.

“After further engagements together with the Nigerian authorities, the NCC has reduced the imposed fine,” MTN said in a statement. It added the fine was now $3.4bn.

MTN has 231 million subscribers in 22 countries across Africa, Asia and also the Middle East. However, Nigeria is its biggest market.

In September, “the company was named as the most admired brands in Africa inside the Brand Africa 100 awards, beating Samsung, while it have also been awarded the continent’s most valuable brand, worth $4.6bn (£3bn)”.

MTN was South Africa’s second mobile operator if it was set up in 1994 after apartheid practice ended in the country.

It began its expansion across Africa 4 years later with operations in Rwanda, Uganda and Swaziland before expanding to Nigeria




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