Wait, say what? MTN reportedly agrees to pay N1.04 trillion fine


Telecommunication company, MTN, has
reportedly agreed to pay the N1.04 trillion fine
slammed on it by the Nigerian Communications
Commission NCC for flouting the regulatory
body’s directive on SIM deactivation. MTN is
reportedly pleading for a staggered payment plan
to pay-up the fine.
Vanguard quoted a source as saying that the
agreement to employ the staggered payment
model followed a series of meetings between top
executives of MTN Nigeria and South Africa with
VP, Prof. Yemi Osinbajo.
“There have been series of meeting at the
Presidency between Vice President
Osinbajo and MTN team both from South
Africa and the Nigerian arm. MTN wanted
a waiver considering their level of
investments in the country, but government
did not buy the idea of waiver. Instead, I
think there will be concession, but certainly
not a waiver. At the conclusion of the
meeting, the MTN people negotiated on
how to stagger the payment. The
Presidency is even angry because MTN
was a signatory to the regulation, but they
are failing to comply with rules.” the
source added.

Posted from Ikem Daniel Blog