South African telecoms company MTN has reportedly agreed to pay the N1.04 trillion ($5.2 billion) fine it was asked to pay by the Nigerian Communications Commission (NCC) over its failure to deactivate improperly registered lines.
Vanguard reported that the decision was reached at the end of a series of meetings involving MTN management team from South Africa and Nigeria with Nigeria’s Vice President Prof. Yemi Osinbajo.
MTN is said to have agreed to pay the fine to sustain the interest of its telecoms business.
“There have been series of meeting at the Presidency between the 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.”, a source told Vanguard.
Innovation Village has reached out to MTN and NCC for official confirmation
