The Nigerian Communications Commission, NCC, has reduced the N1.04 trillion fine it imposed on MTN Nigeria to N674 billion.
However, the commission has also mandated the telecom operator to pay the fine on or before December 31, 2015.
The fine imposed on the telecom operator was due to what NCC described as MTN’s inability to disconnect about 5.1 million Nigerian subscribers improperly registered on its network, after several warnings in August and September 2015.
In reaction, MTN has said it would carefully study the new development and would mandate its Executive Chairman, Phuthuma Nhleko, to immediately and urgently re-engage with the Nigerian authorities before responding formally.
The reduction, which represents a 25 per cent slash, provides MTN with a reprieve, after series of meetings which have seen several officials from South Africa thronging the country to negotiate the fine.