NCC Again Increases MTN Nigeria Fine To $3.9bn

The fine billed to MTN by Nigeria Communication Commission has been increased again to $3.9bn from $3.4bn. The company has now been given a deadline to pay by the end of December.

MTN said on Friday that the latest amount was set out in a letter from
the Nigerian Communications Commission (NCC) late on Thursday, which superseded Wednesday's letter that had reduced the original $5.2bn fine to $3.4bn. 

MTN said that neither letter explained how the reduction was determined and the company was "carefully considering" both letters. Executive chairman Phuthuma Nhleko would "immediately and urgently re-engage with the Nigerian authorities before responding formally".

MTN on Thursday overhauled its top team as a result of the fallout from the Nigerian fine, levied after the tardy disconnection of 5.1-million unregistered subscribers.

Sifiso Dabengwa had already resigned as CEO. MTN Nigeria CEO Michael Ikpoki and Akinwale Goodluck, head of regulatory and corporate affairs, have now also quit with immediate effect, as had been widely expected.

MTN Nigeria chief financial officer Ferdi Moolman takes over as CEO of the Lagos-based unit.

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