Click here to load reader
View
210
Download
2
Embed Size (px)
11/22/2015 MTNnegotiating$5.2bfineforsecurityfailuretodeactivateunregisteredsubscribers|TechChannelMEA
http://techchannelmea.com/technologyannouncements/mtnnegotiating52bfinesecurityfailuredeactivateunregistered 1/4
TCMSearch Search
MTNnegotiating$5.2bfineforsecurityfailuretodeactivateunregisteredsubscribers
Source: ArunShankar
Publishdate: 03Nov2015 Print Email
RelatedArticlesDubaiSiliconOasisAuthorityimplementsinvestmentprojectsworth$1billion
JadoPadosellsstrategicstaketoBECOCapitalfor$4million
It'snowHPInc,HewlettPackardEnterprise
SaudiTelecomCompanyenterspartnershipwithSouq.comatGitex2015
Trading ofMTNshares resumed on 3 November afterfallingsharplyon2Novemberandbeingsuspendedfortrading by Johannesburg Stock Exchange. Theannouncementfollowsa$5.2billionfinelevelledagainstMTN Nigeria by the Nigerian CommunicationsCommission over alleged delay in disconnection ofunregisteredSIMcards.
On26October2015,MTNreleasedanofficialstatementadvisingshareholdersthattheNigerianCommunicationsCommission has imposed a fine equivalent to $5.2billiononMTNNigeria.Accordingtothestatement,thefine relates to the timing of the disconnection of 5.1million MTN Nigeria subscribers who were
TradingofMTNsharesresumedon3Novemberafterfallingsharplyon2NovemberandbeingsuspendedfortradingbyJohannesburgStockExchange.(SourceGoogleFinanceUK)
TradingofMTNsharesweresuspendedon2NovemberatJohannesburgExchangewhenpricefellmorethan6%followingannouncementoffineforfailuretocomplywithsecurityrequirementofdeactivatingunregisteredsubscribers.
Home/Technology/Announcements
Articles Pictures Videos
Emiratesairline,Dnatatoenhancebusinesswithbigdataanalytics
Mubadala,GEfinalisedealforjointventureinAlAin
MahindraComvivatoextendfootprintacrossMENAregion
CanonenterspartnershipwithCerebraMiddleEast
Microsoft,PacificControlsannouncesoftwareplatformGalaxy2021
Readmore..
MostRecent
Wedon'tknowwhatthestandardsof5Gwillbe.SarwantSingh,SeniorPartnerandHeadVisionaryInnovationGroup,Frost&Sullivan
Everysecurityvendorisclaimingtheirtechnologyisthepanaceatoallevilsandwillcuretheproblem.AnthonyPerridge,SecuritySalesDirector,Cisco
Carcompaniesarealsosettingupbusinessmodelsforputtingupdatainthecloud.SarwantSingh,SeniorPartnerandHeadVisionaryInnovationGroup,Frost&Sullivan
Last36monthswehaveseenthinningoutofthepartnerbase.AmirSohrabi,GMGulfEmergingMarkets,SASMiddleEast
Readmore..
BrieflySpoken
Home SignIn Register
TECHNOLOGY CHANNEL PARTNERPROGRAMMES NEWPRODUCTS EVENTS PEOPLE EXPERTTALK
CONVERGENCE CLOUD SECURITY STORAGE MOBILITY RESEARCH&SURVEYS
https://www.facebook.com/techchannel.mideastafricahttps://twitter.com/techchannelmeahttp://www.linkedin.com/company/tech-channel-meahttps://www.youtube.com/user/techchannelmeahttp://techchannelmea.com/http://techchannelmea.com/print/technology-announcements/mtn-negotiating-52b-fine-security-failure-deactivate-unregisteredhttp://techchannelmea.com/printmail/technology-announcements/mtn-negotiating-52b-fine-security-failure-deactivate-unregisteredhttp://techchannelmea.com/technology-announcements/dubai-silicon-oasis-authority-implements-investment-projects-worth-1http://techchannelmea.com/technology-announcements/jadopado-sells-strategic-stake-beco-capital-4-millionhttp://techchannelmea.com/technology-announcements/its-now-hp-inc-hewlett-packard-enterprisehttp://techchannelmea.com/technology-announcements/saudi-telecom-company-enters-partnership-souqcom-gitex-2015https://www.mtn.com/Investors/Shareholders/Pages/Sharepriceandcharts.aspxhttps://www.jse.co.za/current-companies/companies-and-financial-instruments/instrument-profile?instrumentmasterid=1852http://66.8.16.130/SENS_20151026_S363935.pdfhttp://www.ncc.gov.ng/http://techchannelmea.com/http://techchannelmea.com/tech-channel-mea/technologyhttp://techchannelmea.com/tech-channel-mea/technology/announcementsjavascript:void(0)javascript:void(0)javascript:void(0)http://techchannelmea.com/new-products-enterprise/emirates-airline-dnata-enhance-business-big-data-analyticshttp://techchannelmea.com/technology-tie-ups/mubadala-ge-finalise-deal-joint-venture-al-ainhttp://techchannelmea.com/new-products-enterprise/mahindra-comviva-extend-footprint-across-mena-regionhttp://techchannelmea.com/channel/canon-enters-partnership-cerebra-middle-easthttp://techchannelmea.com/cloud/microsoft-pacific-controls-announce-software-platform-galaxy-2021http://techchannelmea.com/articlehttp://techchannelmea.com/briefly-spokenhttp://techchannelmea.com/http://techchannelmea.com/user/login?current=node/2677http://techchannelmea.com/user/registerhttp://techchannelmea.com/tech-channel-mea/technologyhttp://techchannelmea.com/tech-channel-mea/channelhttp://techchannelmea.com/tech-channel-mea/partner-programmeshttp://techchannelmea.com/tech-channel-mea/new-productshttp://techchannelmea.com/tech-channel-mea/eventshttp://techchannelmea.com/tech-channel-mea/peoplehttp://techchannelmea.com/tech-channel-mea/expert-talkhttp://techchannelmea.com/tech-channel-mea/convergencehttp://techchannelmea.com/tech-channel-mea/cloudhttp://techchannelmea.com/tech-channel-mea/securityhttp://techchannelmea.com/tech-channel-mea/storagehttp://techchannelmea.com/tech-channel-mea/mobilityhttp://techchannelmea.com/tech-channel-mea/research-and-surveys
11/22/2015 MTNnegotiating$5.2bfineforsecurityfailuretodeactivateunregisteredsubscribers|TechChannelMEA
http://techchannelmea.com/technologyannouncements/mtnnegotiating52bfinesecurityfailuredeactivateunregistered 2/4
disconnectedinAugustandSeptember2015andisbasedonafineof200,000NigerianNairafor each unregistered subscriber. The statement also said that MTN Nigeria is currently indiscussionswiththeCommissiontoresolvethematterinrecognitionofthecircumstancesthatprevailedwithregardtothesesubscribers.
Subsequenttotheinitialannouncement,astatementwasmadeon30October2015,advisingtheshareholders to exercise caution when dealing in MTN securities until further notice. Thecompanysaid that theGroupCEOisengagingwith theNigerianauthoritieson the regulatoryaspects of the matter. In addition, senior management of the company and its advisors arecurrentlyengagingwiththeJohannesburgStockExchangeonthetimingoftheStockExchangeNewsServiceannouncement.
On 2 November 2015, MTN released another statement which says shareholders shouldspecifically exercise cautionwhen reacting to information on thismatterwhich has not beenreleased by the company. Shareholders are therefore advised to continue to exercise cautionwhendealinginthecompanyssecuritiesuntilafurtherannouncementismade.
TheregistrationofphonesubscribersintheFederalRepublicofNigeriacommencedonMarch28,2011.TheregistrationofexistingSIMcardsofficiallyendedinJanuary2012.OthertelecomplayersinNigeriaincludeAirtel,EtisalatandGlo.
AccordingtoTechCentralon2November,MTNisalsofacingaprobebyJohannessburgStockExchangeintopossibleinsidertradingrelatedtothetimingofitsfirststatementtoshareholdersabouttheNigerianCommunicationsCommissionimposedfine.
30 day trend in MTN share price, where the first dip occurred before 26 October, whenMTN announced theimposition of $5.2 billion fine by Nigerian Communications Commission for failure to disconnect 5.1 millionunregisteredsubscribers.(SourceJohannesburgStockExchange)
30 day trend in MTN share price, where the first dip occurred before 26 October, whenMTN announced theimposition of $5.2 billion fine by Nigerian Communications Commission for failure to disconnect 5.1 millionunregisteredsubscribers.(SourceMTN)
http://66.8.16.130/SENS_20151030_S364114.pdfhttp://66.8.16.130/SENS_20151102_S364209.pdfhttps://www.mtn.com/Investors/Shareholders/Pages/Sharepriceandcharts.aspxhttps://www.google.co.uk/finance?q=JSE%3AMTN&ei=mk83VoHnMYGnUqn7poABhttp://www.techcentral.co.za/jse-halts-trading-in-mtn-shares/60955/https://www.mtn.com/Pages/Home.aspx
11/22/2015 MTNnegotiating$5.2bfineforsecurityfailuretodeactivateunregisteredsubscribers|TechChannelMEA
http://techchannelmea.com/technologyannouncements/mtnnegotiating52bfinesecurityfailuredeactivateunregistered 3/4
SummaryofMTNstockinformationclosing2November.(SourceMTN)
TheNigerianCommunicationsCommissionwebsiteliststheobjectivesofSIMregistration.Excerpts.
Toassistsecurityagenciesinresolvingcrimesandbyextensiontoenhancethesecurityofthestate.
TofacilitatethecollationofdatabytheCommissionaboutphoneusageinNigeria.
Toenableoperatorstohaveapredictableprofileabouttheusersintheirnetworks.
To enable the commission to effectively implement other value added services like NumberPortabilityamongothers.
ASIMcardisthecardissuedbymobilephoneoperatorswhichprovidestheindividualuserwiththeappropriatenumberrecognisedbythatnetwork.Asubscriberinsertsthecardintohisorhermobilephonetoaccessthemobilephonenetwork.SincethelaunchofGSMservicesinNigeriain 2001, SIM cards were offered to subscribers without the requirement to provide properidentificationbytheusers.Sometimeinearly2008,securityagenciesapproachedTheNigerianCommunicationsCommissiontoassistinresolvingcrimesperpetratedthroughtheuseofphonesinwhichcriminalelementscannotbeidentifiedwiththenumberofthephonesthattheyused.
Consequently,theCommissionheldaconsultativeforuminvolvingvarioustelecomsoperators,consumer groups, security agencies, telecoms associations, dealers, the Nigerian IdentityManagementCommission,NationalPopulationCommission,NationalCensusCommission,themediaandahostofothers.
All theparticipantsagreed that it isappropriateandnecessary to registerphoneusers in thecountry.AnothercommitteewasthensetuptofurtherlookatthedetailsoftheimplementationoftheregistrationprogrammeandsubmititsrecommendationstotheNigerianCommunicationsCommission.
Upon reviewing the recommendations of the committee, the Board of the NigerianCommun