African telecommunications giant MTN says profits fell 37 per cent in 2015 largely because of a hefty fine imposed by Nigerian regulators.
The South African-based multinational’s report posted online Friday says it cut off 4.5 million Nigerian subscribers last month.
That is in addition to 6.7 million Nigerian and 3.7 million Ugandan subscribers disconnected last year under new regulations requiring the registration of cellphone SIM cards.
MTN Group Limited says it has set aside nearly $600 million against the $3.9 billion Nigerian fine for failing to deactivate unregistered cards, which is under negotiation.
Overall, the company earned 23.57 billion rand ($1.54 billion) on revenue of 147.06 billion rand.
Nigeria is MTN’s biggest market with about 60 million subscribers before the disconnections. MTN now reports 232.5 million subscribers in 22 countries. Click to signup for FREE news updates, latest information and hottest gists everyday
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Pay your fine and stop whining!
ReplyDeleteMTN, the $600m contigent liability provision is a far cry from $3.9bn fine. Why are you postponing the evil day. Just pay your fine as the government is nit the usual regime that collects bribes as Nigerian are waiting for uou to pay the fine.
ReplyDeleteOne will buy data, you will write it off whether or not it's been gully used.
Dropped calls by Nigerians are fraudulently charged.
Unsolicited SMS are secretly charged.
You started with about N50/min and charged Nigerians fraudulently with false claim that per seconds is not possible.
Pay your fine afterwards, it's a little drop from what you ve being cheating us...
MTN, the $600m contigent liability provision is a far cry from $3.9bn fine. Why are you postponing the evil day. Just pay your fine as the government is nit the usual regime that collects bribes as Nigerian are waiting for uou to pay the fine.
ReplyDeleteOne will buy data, you will write it off whether or not it's been gully used.
Dropped calls by Nigerians are fraudulently charged.
Unsolicited SMS are secretly charged.
You started with about N50/min and charged Nigerians fraudulently with false claim that per seconds is not possible.
Pay your fine afterwards, it's a little drop from what you ve being cheating us...