MTN’s new boss seeks N1.04tn fine reduction

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The new Executive Chairman, MTN Group, Phuthuma Nhleko, on Tuesday said he had begun seeking solutions that would lead to a reduction in the N1.04tn fine imposed on the firm by the Nigerian Communications Commission.

He stated this on a South Africa-based Internet radio station, Talk Radio 702.

“I can’t say whether we will pay the whole fine. I don’t want to negotiate with Nigerian regulators on a public forum,” Nhleko said.

According to him, MTN is certain to meet the deadline of November 16 to pay the fine imposed on its unit in Nigeria for failing to cut off more than five million users with unregistered Subscriber Identity Module cards.

The NCC has been pushing telecommunications companies to verify the identity of their subscribers because of fears that unregistered SIMs were being used for criminal activities.

Nhleko, however, declined commenting when asked if MTN had approached banks to ensure that enough cash was available should the fine be enforced.

But the Group Public Affairs Manager, MTN, Chris Maroleng, said, “The whole planning for November 16 is based on all possible outcomes and contingencies, and our aim is to comply with all regulations in Nigeria.”

Nhleko had said on Monday, some hours after his appointment, that he would “proactively deal with the Nigerian regulator.”

“I will continue to work with them in addressing the issues around unregistered subscribers as a matter of urgency,” he had said.

Nhleko was named the executive chairman of the MTN Group for up to six months after Sifiso Dabengwa stepped down as President and Chief Executive Officer with immediate effect.

Source: Punch