N1.4trn fine: MTN moves to escape NCC hammer

Telecommunications company, MTN Nigeria may have resolved with the Nigerian Communications Commission (NCC) on a model to adopt in the payment of a hefty N1.04 trillion fine slammed on it by the regulatory agent.
NCC had imposed the fine on the company for allegedly violating its directive on SIM deactivation.
It is believed, that the telecoms operator may have agreed to pay the fine to sustain the interest of its telecoms business, in the country, which provides the bulk of its operations on the African continent.
Industry sources revealed, that the matter may have been resolved following the intervention of Vice President, Prof. Yemi Osinbajo, and that the company is to adopt a staggered payment model to clear the fine.
It was also gathered, that the federal government is already yielding to the plea, which is said to be part of the agreement reached at the series of meeting held at the weekend in Nigeria.

Read also: N1.4tn fine: NCC gives MTN Nov deadline

“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”, the source stated.
It would be recalled that NCC had 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 risks withdrawal of its licence if it fails to comply with the fine.
NCC said it had consistently engaged Mobile Network Operators, (MNOs) to strictly adhere to the regulations and its business rules in the registration of their subscribers.

RipplesNigeria …without borders, without fears

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now