Phuthuma Nhleko, Chairman of MTN, on Thursday assured shareholders that steps were being taken to avoid a repeat of the mistakes that led to it being fined 3.9 billion dollars by Nigerian authorities.

The massive fine was imposed last year after MTN failed to meet a deadline to disconnect 5.1 million unregistered subscribers to enable the Nigerian authorities to improve security.

The incident sent shock waves through the company with CEO Sifiso Dabengwa forced to step down as the company’s share price plummeted by one-third.

In addition, MTN was replaced by Vodacom as Africa’s largest mobile phone operator.

In a separate setback, Cameroon recently accused MTN of not paying its taxes.

The central African nation’s corruption board said that MTN and Orange owe nearly 166 million dollars in unpaid taxes, without revealing the amount against each company.

“We are going to beef up regulatory compliance, we could have done things differently,” Nhleko said.

He said that MTN was continuing to engage with Nigerian authorities about the massive fine.

The company, which has more than 200 million subscribers across Africa and the Middle East has hired former U.S. Attorney General Eric Holder to help it negotiate a settlement.
Talks with MTN are currently suspended while Nigeria’s House of Representatives completes an investigation into the penalty.