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    Assistant Director, Fintech and Innovation, BoG, Clarence Blay

    E-cedi will not affect MoMo business – Bank of Ghana

    Bank of Ghana to widen its scope on cryptocurrency

    Importers, Exporters Association calls for sympathy for Labianca following corruption claims

    BoG Deputy Governor chairs advisory board of UG’s College of Humanities

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    Dr. Ampabeng advocates consolidation of road taxes into fiscal policy

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    Assistant Director, Fintech and Innovation, BoG, Clarence Blay

    E-cedi will not affect MoMo business – Bank of Ghana

    Farmers worried about possible unfair distribution of MoFA machines

    Bank of Ghana to widen its scope on cryptocurrency

    Importers, Exporters Association calls for sympathy for Labianca following corruption claims

    Our cars to sell for cheaper soon- locally assembled automobile companies

    BoG Deputy Governor chairs advisory board of UG’s College of Humanities

    Ghana’s inflation rate rises again; hits 31.7% in July 2022

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    Assistant Director, Fintech and Innovation, BoG, Clarence Blay

    E-cedi will not affect MoMo business – Bank of Ghana

    Bank of Ghana to widen its scope on cryptocurrency

    Importers, Exporters Association calls for sympathy for Labianca following corruption claims

    BoG Deputy Governor chairs advisory board of UG’s College of Humanities

    GEXIM CEO is one of Ghana’s 100 most influential business leaders

    Zenith Bank Ghana wins premium quality West African banking brand of the year 2021

    GIPC and GSE sign MoU to attract more investment into Ghana

    Appolonia City unveils its first commercial building; Adumuah Place

    Dr. Ampabeng advocates consolidation of road taxes into fiscal policy

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    We’re ready to re-engage gov’t on acquisition of Vodafone shares – Telecel

    New deadline for SIM re-registration too short – MoMo agents association

    Extend SIM card re-registration exercise to January 2023 – MoMo agents

    Vodafone agrees sell stake in Ghana’s business to Telecel

    Telecoms Chamber and IIPGH advocate sustained coding education

    IIPGH to enter coding education partnership with Telecoms Chamber

    PayAngel joins Microsoft for Startups Founders Hub

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    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

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    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

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    African countries that could follow Sri Lanka into economic chaos

    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

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MTN doesn’t need to pay fine before deadline, says official

bycitibusinessnews
December 24, 2015
in Business, News, TECHNOLOGY
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Nigerian authorities will wait for the outcome of a court challenge filed by MTN [JSE:MTN] before deciding on whether to enforce a $3.9bn (R59.24bn) fine, a spokesperson for the telecommunications ministry said.

The ministry spokesperson contradicted a source in the Nigerian Communications Commission (NCC), who earlier said “appropriate action” would be taken against MTN if it failed to pay the fine by a December 31 deadline for failing to disconnect users with unregistered SIM cards.

Nigeria has been trying to halt the widespread use of unregistered SIM cards amid worries these are being used for criminal activity, including by the militant Islamist group Boko Haram.

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[contextly_sidebar id=”0r5fmlZOUEiNTTiWyc97Rmn0LvoqX9RD”]The NCC slapped a $5.2bn fine on MTN in October, but after weeks of negotiations reduced it by 25% this month, setting a deadline for December 31.

However, the operator was still not prepared to pay the reduced fine and said last week it would challenge the penalty in a Lagos court.

“The federal government, NCC (regulator) or any government agent will not do anything at the expiration of the December 31 deadline,” said Victor Oluwadamilare, the ministry’s media assistant.

“Now that they (MTN) have gone to court we will await the outcome of the case,” he added. “This is a government that believes in the rule of law.”

The ministry appears to have taken a softer stance than the regulator on the dispute. The minister Adebayo Shittu told Reuters last month the West African nation did not want MTN to “to die” from the fine.

Shares in MTN, down about 25% since the fine was announced in October, were little changed at R141 by close on Wednesday.

MTN spokesperson Chris Maroleng declined to comment.

The move against MTN came months after Muhammadu Buhari became president of Africa’s biggest economy, promising tougher regulation and a fight against corruption.

Other telecoms firms operating in Nigeria disconnected unregistered users within the deadlines set by the authorities.

Some analysts have said the size of the fine imposed by MTN risked damaging Nigeria’s efforts to shake off its image as a risky frontier market, but others said it showed Abuja was keen to enforce the law.

–

Credit:  News24

 

 

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