Tuesday, July 15, 2025
28.9 C
Lagos

MTN Will Not Pay N1.O4O Tr NCC Fine

MTN Nigeria says it will not pay a dime or penny to the Nigerian Communications Commission [NCC] in respect of the N1.O4 trillion fine imposed on the telecom operator by the industry regulator for failing to deactivate unregistered SIM cards on its network.

A top official of MTN Nigeria confided in Business Journal that the telecom operator has perfected two grand strategies to avoid paying the fine to NCC.

“I can tell you that MTN Nigeria will not pay a single penny or dime to the NCC. We have already instructed the seven Senior Advocates of Nigeria [SANs] handling our legal action against NCC to keep the matter perpetually in court, up to the Supreme Court, by all means necessary until Buhari leaves office or Danbatta, Executive Vice-Chairman of NCC completes his five-year term.

Now, even if Buhari and Danbatta secure a second term, that would be eight and 1O years respectively, but we can keep the case in court beyond 1O years.”

The MTN official insisted that the operator cannot pay such huge fine without going under, arguing that what the NCC did was clearly in bad faith, not what they expected from a regulator.

He said the second strategy is to withdraw from Nigeria and expand to more African nations to make up for any revenue shortfall in terms of the Group.

“Our second strategy is to leave the Nigerian market entirely and expand into other territories in Africa and probably, the Middle East, to cushion the expected revenue gap from Nigeria.”

He called on Nigerians to prevail on the NCC to soft pedal on the fine, which he described as an attempt by the industry regulator to kill MTN Nigeria.

spot_img
spot_img
spot_img

Hot this week

NAICOM, Insurance Industry Mourn Buhari

It is with profound sadness that we received the...

Polaris Bank Partners Woodhall Capital, UK, Lagos State in ₦1.5bn Creative Economy Fund

L-R- Abimbola Ozomah, Executive Director, Polaris Bank; Mojisola Hunponu-Wusu,...

Heirs Insurance Group Reports N61bn GWP in 2024, an Increase of 70%

Heirs Insurance Group (HIG), Nigeria’s fastest-growing insurance group, has...

Stanbic IBTC Holdings Meets CBN’s N200bn Recapitalisation Policy

In a landmark achievement that highlights the steadfast confidence...

SanlamAllianz Partners NCRIB on 2025 Empowerment Series

Dr. Abosede Adegbite, Consultant, Family Physician; Tope Adaramola, Executive...

Topics

AMCON CEO at Inter-Agency Committee Meeting on Debt Recovery

The Chairman of Independent Corrupt Practices and Other Related Offences...

UNESCO, African ICT Foundation to Host West-Africa Internet Governance Forum May 26

Tony Ojobo President African ICT Foundation UNESCO and the African ICT Foundation...

Obabori of RedStar Express Wins Courier Personality Award

Group Managing Director and Chief Executive Officer of Red...

NAICOM, Insurance Industry Mourn Buhari

It is with profound sadness that we received the...

MTN Nigeria to Go Public in 2016

MTN Nigeria will become a Public Liability Company (PLC) in 2016. Accordingly, MTN will list its shares on the floor of the Nigerian Stock Exchange (NSE) by way of public offer for purchase by interested members of the investing public. A senior insider in MTN Nigeria confided in Business Journal: “Well, l can tell you that the management has concluded plans to list the shares of MTN on the Nigerian Stock Exchange (NSE) in 2016, mainly due to intense pressure from various quarters in the past three years.

Nigeria’s Democratic Success: Time for Greater U.S. Engagement

The United States needs to act fast, wisely and comprehensively to shore up and strengthen its relations with Nigeria following that country’s recent successful national elections. Nigeria’s presidential and gubernatorial elections (held respectively March 28 and April 11) were a political triumph for the people of that country as well as for the continued positive trajectory of democracy across sub-Saharan Africa.

Airlines Financial Monitor: February

Key Points: · Worldwide airline share prices increased by 4.7%...
spot_img

Related Articles

Popular Categories

spot_imgspot_img