August 19, 2018

MTN to pay fine gradually

MTN to pay fine gradually

South African telecoms company MTN is in talks with Nigeria’s telecoms regulator to reduce a $3.9 billion fine for failing to disconnect unregistered sim cards, and to arrange gradual payment, President Muhammadu Buhari said on Tuesday.

The Nigerian president made the comment at a joint news conference with his South African counterpart Jacob Zuma at the start of a two-day visit by Zuma.  The South African company has so far paid $250 million after dropping a legal case against the Nigerian Communications Commission (NCC).

“MTN had withdrawn their case from the court and decided to go back and renegotiate the fine, which they consider very stiff, with NCC to find ways the fine can be reduced and given time to pay gradually,” Buhari told reporters in the capital, Abuja. Read more

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