Sunday, March 18, 2018

MTN to Restart Discussion on $3.9 Billion Fine


The Nigerian Communication Minister, Barr. Adebayo Shittu has disclosed that Nigeria authorities would soon start renegotiation with MTN over the fine of $3.9b slammed on the South African owned mobile phone operator for failing to deactivate SIMs with incomplete registration or those that have not been registered.

According to the Minister, though the renegotiation talks would soon start, President Muhammadu Buhari has the final say on the issue.

While speaking with reporters from Reuters, Shittu said that the Nigerian authority would meet with them and finalize talks on the fine.

It could be recalled that MTN had withdrawn a lawsuit it initiated against the Nigerian Communications Commission for the fine which was initially $5.2 billion but was slashed down to $3.9billion by Nigerian authorities after talks with the MTN.

Recently, the company has announced that it has made part payment of N50b to the Nigeria authorities and would continue negotiation with the authorities.

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