Monday, April 19

Presidency orders MTN Nigeria to pay $5 billion fine, refuses leniency pleas

After the fine over the non de-activation of unregistered users by NCC was imposed on MTN, even the board of directors of MTN knew that there was no way they could shelve all of the #1.04 trillion fine as they were faulted on legal grounds. MTN even released a statement to its stakeholders giving the information about the fine, something that would only have been done since they realized the gravity of their offenses too. Since the time this fine has been imposed though, MTN has maintained that it was in talks with the NCC and other bodies from which it aims to achieve leniency in the punishment leveled against them. However, MTN has suffered a major setback in one of such attempts.

Sending representatives from its home country of South Africa to see the presidency (which was duly represented by the Vice President, Prof. Yemi Osinbajo), it has been reported that the presidency has failed to come to terms with MTN and has instead directed that it pays the fine leveled against her. The informant who could not speak freely with the press has however stated that there were provisions being made for the payment to be spread out in installments.

While the telecommunications giant has been given up till the 16th of November to cough up the fine, it is also said that considerations to the firm’s total investment in the country was not take into consideration at all and now, MTN is left with no option but to go ahead and accept the full figures of the fine.

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