MTN hit with R71 billion fine: report

[BusinessTech]

MTN hit with R71 billion fine: report

The Nigerian Communications Commission has hit MTN Nigeria with a 1.04 trillion naira fine (R71 billion), according to a report by Nigerian Technology Times.

 

[Pitbull]

Now that's got to sting... Jirre

 

[Mike Hoxbig]

Hahahaha now it makes sense...

 

[ToxicBunny]

R71bn??? Are these muppets serious?

 

[ellyally]

Hahahaha now it makes sense...

Indeed

 

[Rusty0]

Will this collapse MTN?
They could have bought Neotel 10 times with that.

 

[F1 Fan]

Surely that's crazy. How did they come to that amount anyway?

 

[Nick333]

R71bn??? Are these muppets serious?

Haha! Probably a shyt load cheaper for MTN to cease operations in Nigeria forthwith. Maybe they're after free infrastructure for someone's brother to start a telecoms operation with.

 

[Chevron]

Now that's a truckload of cash.

 

[ShaunSA]

Well MTN are using Nigerian infrastructure that they haven't paid a cent for

 

[DanDango]

:wtf:

 

[Necropolis]

Haha! Probably a shyt load cheaper for MTN to cease operations in Nigeria forthwith. Maybe they're after free infrastructure for someone's brother to start a telecoms operation with.

Only problem for them is that Nigeria makes up a big portion of the MTN Group's annual income.

 

[ToxicBunny]

Haha! Probably a shyt load cheaper for MTN to cease operations in Nigeria forthwith. Maybe they're after free infrastructure for someone's brother to start a telecoms operation with.

Precisely that..

R71bn is give or take 25% of MTN Groups entire market cap.

 

[OrbitalDawn]

MTN Nigeria hit with record high NGN1 trillion fine

http://www.itwebafrica.com/telecomm...geria-hit-with-record-high-ngn1-trillion-fine

MTN Nigeria has been issued with a NGN1 trillion (approximately US$5.2bn) fine, arguably one of the highest in the history of the West African country's telecommunications sector, after allegedly violating a SIM registration order from the government.

The Nigerian Communications Commission (NCC) is believed to have discovered that MTN still had active pre-registered SIM cards on its network and this resulted in a hefty penalty for failing to deactivate lines with incomplete registration details.

 

[saor]

http://mybroadband.co.za/vb/showthread.php/777613-MTN-hit-with-R71-billion-fine-report

 

[Nick333]

Only problem for them is that Nigeria makes up a big portion of the MTN Group's annual income.

Well, I guess they are now proper fccked then.

 

[Neoprod]

From the article -

MTN Group announced in a trading statement last week that its Nigerian operation lost 5.1 million subscriber lines in August due to the deactivation of incomplete SIM registrations ordered by NCC.

They seem to have complied to some extent...can't see how this fine could stand an appeal (assuming an appeal is allowed). Smacks of a short-sighted cash grab by Government or a competing telecomms company lobbying some officials.

 

[The_Assimilator]

Holy nutballs.

 

[Deleted member 83147]

Just forward the bill to WhatsApp and tell them that's their share of the "network investment".

 

[ShaunSA]

From the article -



They seem to have complied to some extent...can't see how this fine could stand an appeal (assuming an appeal is allowed). Smacks of a short-sighted cash grab by Government or a competing telecomms company lobbying some officials.

MTN are the experts at short-sighted money grabbing so they should feel right at home.