Telecommunication giants and South African Mobile Company, MTN , has reportedly accepted to pay N1.04 trillion fine slammed on it last week by the telecoms regulatory authority, the Nigerian Communications Commission (NCC).
This follows series of meeting held between MTN management team from South Africa and Nigeria with the Vice President, Prof. Yemi Osinbajo.
The telecoms operator which has largest subscriber base in Nigeria, it was gathered, may have agreed to pay the fine to sustain the interest of its telecoms business.
The Source said “There have been series of meeting at the Presidency between the Vice President Osinbajo and MTN team both from South Africa and the Nigerian arm. MTN wanted a waiver considering their level of investments in the country, but government did not buy the idea of waiver. Instead, I think there will be concession, but certainly not a waiver. At the conclusion of the meeting, the MTN people negotiated on how to stagger the payment. The Presidency is even angry because MTN was a signatory to the regulation, but they are failing to comply with rules.”
NCC were outspoken when it said that MTN would not escape the fine, owing to the enormity of its implication to national security.
Although NCC had hinted that the issue is being handled by the federal government, the telecoms authority also noted that MTN would risk withdrawal of its licence if it fails to comply with the fine.
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