MTN Unlikely To Get Any Favours From Nigeria’s New Information Minister

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Recent developments indicate that the federal government of Nigeria won’t be relaxing the $5.2bn fine imposed on telecoms giant MTN Nigeria.

Johannesburg-based MTN Group Ltd., was recently hit by the Nigerian Communications Commission, NCC, with a $5.2 billion regulatory fine for not disconnecting unregistered users.
Adebayo Shittu, Nigeria’s newly appointed communications minister responsible for mobile-phone operators, at a Channels TV interview said that monies owed to the nation will be paid, without being specific.
MTN is currently contesting the fine, which has dealt a blow to its operations in the continent. The company has seen its share drop and suspended briefly by the Johannesburg Stock Exchange.
The company’s CEO, Mr. Sifiso Dabengwa has resigned his position and has been replaced in the interim by Phuthuma Nhleko.

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