MTN To Challenge $3.9bn Fine By Taking NCC To Court

MTN will challenge the $3.9 billion fine imposed on it by the Nigerian Communications Commission (NCC). MTN, in a statement to shareholders today, said it decided to take this route after exhausting all other options to have the fine reduced. MTN said that "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." According to Reports, MTN has told its lawyers to "proceed with legal action in the federal high court in Lagos to seek the appropriate relief." The group added that they have been advised that "in the...