FINANCIAL NEWS

Nigeria fines Etisalat’s unit USD2.28m

13 May 2012

(MENAFN) Nigeria’s Communications Commission stated that it has fined UAE’s Emirates Telecommunications Corp. (Etisalat) USD2.28 million as it failed to meet the country’s minimum service standards, reported Arabian Business.

The commission added that if the fine is not paid by May 21, the Nigerian unit of Etisalat, which began full commercial services in Nigeria in October 2008, will have to pay an extra USD15,000 for each day over the deadline.

It said that Nigeria’s mobile-phone operators, which are MTN Group, Etisalat, Bharti Airtel and Globacom, were fined a combined USD7.4 million.

It is worth noting that two years ago, the Nigerian arm of Etisalat has said that it would spend USD500 million on its network.

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