Nigeria Halts MTN Fine Deadline Until Negotiations Are Concluded

Nigeria Halts MTN Fine Deadline Until Negotiations Are Concluded

Mobile phone giant MTN says Nigeria has dropped a 16 November deadline for it to pay a $5.2bn (£2.7bn) fine, as negotiations between the two sides continue over the firm's failure to register 5.1 million subscribers.

The statement added that the discussions include matters of non-compliance and the remedial measures that may have to be adopted to address the issue.

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The Nigerian Communications Commission imposed the penalty on MTN - Africa's biggest mobile company - for failing to disconnect unregistered subscribers, a key policy aimed at preventing militant Islamists from using mobile phones.

The company's shares have lost nearly 25% of their value since the fine was announced last month.Nigeria is MTN's biggest market, with 28.5 million subscribers, followed by Iran and South Africa.

 

 

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