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MTN Nigeria suffers new setback

02 November 2015, 06:51Augustine Osayande

Abuja - MTN Nigeria has failed in its attempts to have its landmark N1,04 trillion (US$5,2 billion fine the Nigerian Communications Commission (NCC) imposed on it lowered, it has emerged.

This follows a series of meetings between MTN management team from South Africa and Nigeria with the Vice President, Prof. Yemi Osinbajo.

An official of the telecommunications company, who is not allowed to speak to the press, said the Presidency insisted the company must  pay the sanction.

The informant disclosed there were plans to pay in installments.

Also Read: Nigeria gives MTN two weeks to pay $5.2 billion fine

“There are plans that MTN Nigeria may stagger the payment of the fine," he said.

The telecom company has been given until November 16 to pay up the fines or face undsiclosed sanctions.

The MTN official said the telecommunications firm wanted a waiver considering their level of investments in the country but government did not buy the idea. 

“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,” he said

MTN, which was fined for failure to disconnect thousands of clients who had not registered, had not officially commented.

- CAJ News

Tags mtn business

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