N1.04trn Fine: MTN Gets Friday Deadline

NCC-MTNAs negotiations continue between the Nigerian government and top executives of the South Africa-based company, MTN Group, on how best to resolve the impasse over the N1.04 trillion fine, the Nigerian Communications Commission (NCC) yesterday extended the deadline for payment to Friday, November 20.

The initial deadline elapsed on Monday, November 16 for MTN to pay the hefty for failing to disconnect 5.2 million unregistered SIM cards from its network.

A statement issued yesterday quoted MTN as saying that “Shareholders are advised that the Nigerian authorities have, without prejudice, agreed that the imposed fine will not be payable until the negotiations have been concluded”.

Confirming that talks were ongoing between MTN and Nigerian authorities, a top shot in NCC, said the deadline was extended to Friday after which the sanctioned telecoms company would know its fate.

The source said: “Although the deadline expired on Monday, we have extended it to Friday to enable all parties to conclude ongoing talks.

“Definitely by the end of the week (Friday), we will issue another statement. We hope that we would have finalised ongoing discussions in the interest of all parties. Our official position will be known by the end of the week.

“We decided not to be rigid about the deadline to allow for the conclusion of talks”.

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