Wednesday, February 03, 2016

$3.9M Fine: MTN Nigeria Hires Eric Holder

It is reported that MTN Group has hired a former United States Attorney –General, Eric Holder, to help challenge a $3.9 billion fine imposed by Nigerian Communications Commission (NCC) for failing to disconnect unregistered users.

Citing people familiar with the situation, the Financial Times reported on Wednesday that Holder pleaded with Nigerian officials last month on behalf of MTN.

Serving under President Barack Obama, Eric Holder was the first African- American attorney general of the United States.

Africa’s largest mobile phone company was handed a $5.2 billion penalty in October, prompting weeks of lobbying that led to a 25 percent reduction to $3.9 billion, Reuters reported.

MTN, however, was still not prepared to pay the fine and launched a court challenge in December, saying the NCC had no legal grounds to order the penalty.

A judge in Lagos had last month gave MTN until March 18 to reach a settlement on the fine, which equates to more than twice MTN’s annual average capital spending over the past five years.

Chris Maroleng; the mobile telecoms company spokesman was not present to comment on latest development, Reuters added.

Posted via #SeriousMata

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