South African telecoms giant, MTN, is set to defy Nigeria by saying it will not pay the N1trillion fine imposed on it by the Nigeria Communication Commission (NCC) for operating over 5 million unregistered lines.
The company on Thursday said it will challenge the fine reduced to N775billion which it is expected to pay by December 31.
MTN, in a statement to shareholders today, said it decided to take this route after exhausting all other options to have the fine reduced.
“All factors having a bearing on the matter have been thoroughly and carefully considered, including a review of the circumstances leading to the fine and the subsequent letters received from the NCC.
“MTN Nigeria, acting on legal advice, has resolved that the manner of the imposition of the fine and the quantum thereof is not in accordance with the NCC’s powers under the Nigerian Communications Act and therefore there are valid grounds upon which to challenge the fine,” the MTN statement said.