MTN Fined N1 Trillion For Disconnecting Unregistered SIMs

MTN has confirmed in a message that it had been hit with a $5.2bn fine in Nigeria for disconnecting SIM cards of 5.1 million MTN Nigeria subscribers who did not register their lines before August. MTN is to pay a fine of N200 000 for each unregistered subscriber disconnected.

MTN Nigeria Message On 1 Trillion Naira Fine

Here is the message issued by MTN to its Shareholders;

“Shareholders are advised that the NCC has imposed a fine equivalent to US$5.2 billion on MTN Nigeria,” said MTN in a statement to shareholders.

“This fine relates to the timing of the disconnection of 5.1 million MTN Nigeria subscribers who were disconnected in August and September 2015 and is based on a fine of N200 000 for each unregistered subscriber,” said the company.

There are rumors that MTN is currently lobbying the NCC to reduce this fine but NCC insists this will teach all foreign telecommunication networks a lesson that they cannot do what they like.

Where do we go from here? Where is this money going? Everything to NNC or some of it to the subscriber? #JustCurious