Nigeria's Fine Really Affected Us-MTN

Photo source: premiumtimesng.com

 South Africa's based telecoms network MTN has recorded loss in it's first half of the year earnings, they said Nigeria's fine really affected them (including the cut-down of subscribers).




 MTN has blamed Nigeria for it's loss in the first half of the year according to them "The  Nigerian regulations fine which had a material impact on results for the value of the balance outstanding at 10 June 2016 of N280 billion (which was $1.4 billion using the exchange rate at that time) reduced by the reversal of the provision made in December 2015 of N119.6 billion ($600 million)."



 Adding that "In total the net effect of the Nigerian regulatory fine on the current period was a negative impact of 474 cents per share (cps).
 MTN Nigeria's performance was impacted by the disconnection of 4.5 million subscribers in February 2016."

 This now shows that MTN blames the fine imposed by the Nigerian communication Commission (NCC) for it's loss and then millions of subscribers were cut-off following the directive by the NCC. 

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