Africa’s biggest mobile network, MTN has confirmed that the Nigerian Communications Commission, NCC, fined its Nigerian operations $5.2 billion for failing to disconnect unregistered subscribers.
The NCC said all other telecom firms operating in the country complied with the directive expect MTN.
MTN in a market update confirmed the report.
“Shareholders are advised that the NCC has imposed a fine equivalent to US$5.2 billion on MTN Nigeria,” said MTN in a statement to shareholders.
“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 N200 000 for each unregistered subscriber,” said the company.
MTN further said it is in discussions with the NCC in a bid to resolve the matter.
Meanwhile, MTN’s share price fell sharply by over 8% in trade on Monday in Johannesburg to R171 at 14:40.
Nigeria is MTN’s biggest market with over 60 million subscribers, according to the company’s latest quarterly update.

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