N1 tr fine: MTN, Nigerian Communication executives meet in Abuja Thursday

Executives from South African telecom giant, MTN, are meeting with Nigerian Communications Commission (NCC) executives on Thursday to discuss the N1.04 trillion ($5.2 billion) fine imposed on the group after it failed to disconnect 5.1 million subscribers with unregistered or poorly registered SIM cards, Reuters reported.

Africa’s largest mobile operator on Monday said NCC imposed the fine on MTN Nigeria over the timing of the disconnection of defaulting subscribers in August and September, last year, sending its shares tumbling on the Johannesburg exchange.

Senior government officials, MTN South Africa officials and the telecom regulator will attend the meeting.

“The federal government at the presidential level is holding a meeting with MTN and the NCC. The main thing on the agenda is the fine,” the sources said.

MTN was not immediately available to comment.

-Reuters