Finally MTN Agrees To Pay N1.4TRN Fine For Breaking Rules In Nigeria

 

 The MOBILE Telecommunica­tion Network (MTN) has fi­nally agreed to pay the $5.2 billion (N1.4 trillion) fine slammed on it by pleading with Nigerian Communica­tions Commission (NCC) to stagger the payment.

Daily Sun investiga­tion revealed that the last-minute agreement to pay followed series of meeting between MTN manage­ment team from South Af­rica and Nigeria with Vice President, Yemi Osinbajo.

MTN agreed to pay the fine in the interest of its business, but pleaded with the Federal Government for a staggered payment model.

A source from the Presi­dency confirmed the new arrangement and also added that the Federal Government is favorably disposed to the payment schedule, which he said, was part of the agreement reached at series of meet­ing held on Thursday and Friday in Nigeria.

The source, further ex­plained that there have been series of meetings at the State House between Osibanjo and MTN team both from South Africa and the Nigerian arm. The telecommunications firm wanted a waiver consider­ing their level of invest­ments in the country, but government reportedly re­jected the idea.

In spite of widespread calls for the intervention of the Office of the National Security Adviser (NSA) on the N1.4 trillion fine, Femi Falana (SAN) last week, called on the NSA not to intervene in the matter. He insisted that laws of the NCC and that of Nigeria must take their course.

Last week, NCC fined MTN N1.4 trillion for vio­lating its directive on SIM deactivation.