MTN begs for staggered payment model as it agrees to pay N1.04trn fine

A new sheriff is truly in town and it’s no longer business as usual as MTN has finally bowed to pressure and accepted to pay the N1.04 trillion ( $5bn ) fine slammed on it last week by the telecoms regulatory authority, the Nigerian Communications Commission (NCC). MTN was fined for violating its directive on SIM deactivation.

MTN wanted a waiver considering their level of investments Nigeria, but FG did not buy the idea. NCC had initially given MTN a time frame to pay up or lose its license. But now there will likely be concession but certainly not a waiver, after a series of meetings at the Presidency over the weekend between the VP Osinbajo and the MTN team, MTN negotiated on how to stagger the payment.

credit:instablog9ja