0

MTN


MTN is leaving no stone unturned as it seeks to challenge the $3.9 billion fine imposed on them by the Nigerian Communications Commission(NCC), this time around MTN Group is hiring the services of a former United States Attorney –General, Eric Holder to help in this regard.


Citing people familiar with the situation, the Financial Times reported on Wednesday that Holder pleaded with Nigerian officials last month on behalf of MTN.

Africa’s largest mobile phone company was handed a $5.2 billion penalty in October, prompting weeks of lobbying that led to a 25 percent reduction to $3.9 billion, Reuters reported.
MTN, however, was still not prepared to pay the fine and launched a court challenge in December, saying the NCC had no legal grounds to order the penalty.

A judge in Lagos had last month gave MTN until March 18 to reach a settlement on the fine, which equates to more than twice MTN’s annual average capital spending over the past five years.

Source: TheNation

Post a Comment

It seems I have said so much on this issue, now it’s time to pass the keyboard to you guys through the comment box to your Views..

 
Top