African telecommunications giant MTN says profits fell 37 percent in 2015 largely because of a hefty fine imposed by Nigerian regulators.

The South African-based multinational’s report posted online Friday says it cut off 4.5 million Nigerian subscribers last month. That is in addition to 6.7 million Nigerian and 3.7 million Ugandan subscribers disconnected last year under new regulations requiring the registration of cellphone SIM cards.

MTN Group Ltd. says it has set aside nearly $600 million against the $3.9 billion Nigerian fine for failing to deactivate unregistered cards, which is under negotiation.

Overall, the company earned 23.57 billion rand ($1.54 billion) on revenue of 147.06 billion rand.

Nigeria is MTN’s biggest market with about 60 million subscribers before the disconnections. MTN now reports 232.5 million subscribers in 22 countries.

http://www.metronaija.com/2016/03/mtn-blames-nigeria-over-losses.html

cc: lalasticlala

so dats why una dy steal my money anyhw

So now I get it u want to extract the fine from us ba that's another fine in the making. U blocked true talk plus I will soon port

So even MTN is into the blaming game. I blame them too for making me join glo

Mtn and apc who blame pass?

MTN has learn from APc how to blame 170million nigerians on their inefficiency

they should exit nigeria

Lol....mtn we also blame you for failing to do the needful . You think thia govt ia like the formal ones?

Yes I am back after a BAN.

Very undemocratic when your request for appeal is not even acknowledged and treated.

Back to the story, have they adjusted their financials to treat the fines. If yes, this assertion is correct otherwise, they have to blame their management for not keeping to regulatory guidelines.

Why didn't they follow the rule on sim registration? Are they only telecom firm.

This new govt bite their hands and they are complaining.
They will be charging fee for callertunes you never subscribe for and to unsubscribe is a problem no action.

They are lucky, no one suing them big time for their stealing with software that will just be removing credit.
Is quite insignificant but they have to respect their customers.

They should accept the blame.

they won't leave and they won't let us rest..