Business $3.9bn Fine: MTN Hires Ex U.S. Attorney General to take on Nigerian Govt

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LequteMan

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MTN Group has hired former US Attorney General Eric Holder, to help it fight the $3.9 billion fine imposed on it by the Nigerian Communications Commission for failing to disconnect unregistered sim cards.

Last October, MTN was slapped with an initial $5.2 billion fine which was later reduced by 25% to $3.9 billion. The telecoms giant has sought to overturn the fine by challenging the legal authority of Nigeria’s regulator to impose the fine. Nigerian authorities then sought to freeze MTN’s accounts saying the company could repatriate its funds from the country before the fine is imposed but, in a rare win for MTN, the court turned down the request.

The case has been adjourned till March 18 before which both parties will be free to reach an out-of-court settlement. But the arrival of Holder could signal MTN may not be be expecting both sides to reach agreement.


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