The Nigerian Communications Commission (NCC) has lifted the suspension imposed on MTN as it relates to “regulatory services”.
MTN was suspended last year October last year and was prevented from raising tariffs and launching promotions when it fined the company $5.2 billion for failing to cut off 5 million unregistered SIM cards.
This will come as a relief for the South African telecoms giant who blamed Nigeria For Its Poor 2015 Financial Performance. MTN explained that the 2015 financial results reflected the challenging operating environment the business experienced in the year as weak macro-economic conditions, increased market competition, heightened regulatory pressures, notably in Nigeria, and operational challenges in some of our markets resulted in a lower-than-expected performance.
MTN’s Full Year revenue increased 0,1% to R146 353 million, while Earning Before Interest Tax decreased by 8.6% to R59 918 million.
Read more in Reuters
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