Business $3.9bn Fine: MTN Issues Statement About its Future in Nigeria

Business $3.9bn Fine: MTN Issues Statement About its Future in Nigeria

MTN Group has assured that it will not pack up shop and leave Nigeria following its current face off with the Nigerian Communications Commission (NCC) over a $3.9bn (N780bn) fine.

NCC had fined MTN for failing to disconnected unregistered subscribers on its network.

In a statement, MTN reaffirmed its long-term commitment to its stakeholders including 63 million customers, thousands of employees, vendors, partners and consultants.

It said MTN being a significant contributor in Nigeria, has an obligation to protect the interests of its ecosystem of millions of Nigerians who are directly and indirectly affected by its business operations and continuity.

Signed by MTN’s human resources and corporate services executive, Amina Oyagbola, the statement however admitted that “the N780 billion fine has potentially dire consequences for the company, its employees, partners, stakeholders as well as the entire Nigerian telecommunications industry.”