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Friday, 20 November 2015
Governors in Nigeria back regulator's $5.2B fine on telecomms giant MTN
The governors of Nigeria's 36 states said in a communique on Thursday that they back the country's telecom regulator for imposing a $5.2 billion fine on South African telecom group MTN for failing to disconnect unregistered lines.
The fine, imposed on Africa's biggest telecommunications company in its largest market by sales, amounts to more than the past two years of MTN profits and is based on $1,000 for each unregistered SIM card.
NCC said the fine, which was the second in two months on MTN after an earlier 102.2 million naira ($513,697) fine, remains but appeals may affect the payment deadline. The payment deadline for the fine was originally set for Nov. 16.