N1.04tn fine: It’s D-Day for MTN

As the deadline for telecommunications company, MTN Nigeria to pay the $5.4billion (N1.04 trillion) slammed on it by the Nigerian Communications Commission (NCC) expires today, there are indications that the company, may not meet up with the payment today.
It was gathered, that the telecommunications company was yet to pay up as at Sunday night, though it is believed that it may escape the regulator’s hammer, as talks have been ongoing to provide a soft landing.
There are also indications that the regulator may have succumbed to the operator’s consistent plea for a staggered payment option, and may be considering granting its plea for staggered payment over a year or two.

Read also: NCC N1.4tn fine: New minister makes case for MTN

It is also not certain yet if the regulator, is not likely to consider a reduction in the amount imposed as fine on the company for the infraction.
Sources at the NCC stated that the regulator will issue a statement on the issue today.
Recall that the newly appointed Minister of Communications, Mr Adebayo Shittu at the weekend had said that Nigeria did not want MTN Nigeria to quit the country because of the fine but insisted that the fine must be paid.
The NCC said last week, it received a letter from the telecommunications company, apologizing for wrong doing and pleading for leniency.

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