TELECOMMUNICATION GIANTS MTN Begs FG To Spread Payment of N1.04 Trillion Fine

Telecommunications giant, MTN, has asked Nigeria for a plan to allow it to spread out the payment of a staggering $5.2 billion (about N1.04 trillion) fine just days before the deadline. According to our source, a source at the Nigerian Communications Commission (NCC) made this known. Our main source reports that the source added that the government was considering the request, made at a meeting on Friday between MTN and high-level government officials.

The NCC slapped the fine on MTN last month for its failure to cut off 5.2 million unregistered SIM cards. MTN spokesman, Chris Maroleng, said: 

"We are waiting for authorities to come back to us."

"At the meeting, MTN pleaded passionately for staggered payment since the option of reduction of the fine had been ruled out," the NCC source said.

However, a source familiar with the discussions said that an eleventh hour reduction of the fine could still be possible.

"Until the final announcement is made, there may be some room for manoeuvre," the source familiar with the situation said.

Source

Reuters