for subscribers

Nigeria to enforce December deadline for R59bn MTN penalty

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
MTN has received a $5.2bn fine in its biggest market Nigeria. (Bloomberg)
MTN has received a $5.2bn fine in its biggest market Nigeria. (Bloomberg)

Lagos - Nigeria will enforce a December 31 deadline for MTN [JSE:MTN] to pay a $3.9bn (R59bn) fine even after Africa’s biggest wireless operator said it would challenge the penalty in a Lagos court, according to a spokesperson for the communications ministry.

“MTN has the right to seek the court’s interpretation if it feels unsatisfied with the action of the regulator, but nothing would stop the government action on the fine,” Victor Oluwadamilare, the spokesperson for Communications Minister Adebayo Shittu, said in an e-mailed response to questions on Tuesday. Nigeria won’t consider an extension to the deadline, he said.

MTN said on December 17 it will ask the court to rule on the fine, saying that the penalty wasn’t within the powers of the country’s telecommunications regulator to impose.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
14.98
(+0.29)
ZAR/GBP
20.86
(+0.69)
ZAR/EUR
18.05
(+0.69)
ZAR/AUD
11.64
(+0.09)
ZAR/JPY
0.14
(+0.60)
Gold
1723.82
(-0.84)
Silver
26.49
(-0.99)
Platinum
1184.00
(-0.96)
Brent Crude
64.90
(0.00)
Palladium
2349.99
(+0.85)
All Share
67536.96
(+2.12)
Top 40
62107.04
(+2.23)
Financial 15
12456.31
(+2.10)
Industrial 25
88082.08
(+2.25)
Resource 10
68969.71
(+2.24)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
21% - 1039 votes
No, I did not.
52% - 2594 votes
My landlord refused
28% - 1400 votes
Vote