NCC reduces imposed fine on MTN to $3.4bn

The Nigerian Communications Commission has reduced the fine it imposed on MTN Group from $5.2billion to $3.4 billion and gave the Africa's biggest mobile phone company until December 31 to pay it,

''After further engagements with the Nigerian authorities, the NCC has reduced the imposed fine,'' the company said in a statement on Thursday. ''After considering the Company's request, it has taken the decision to reduce the fine on the MTN Nigerian business from the original fine of $5.2bn to $3.4bn which has to be paid by 31 December 2015.''

NCC handed the penalty in October after MTN failed to cut off users with unregistered SIM cards from its network.