FG Extends MTN’s $5.2 Billion Fine

Daily Post News reports that the Federal Government of Nigeria has declared its intention to not enforce South African telecommunications company, MTN’s imposed fine of $5.2 billion until negotiations between both parties have been finalised. This was publicly announced by MTN today, November 16, the previously stated payment deadline by the government. The company cited in a statement given today, “Although the Nigerian Communications Commission set a deadline for payment of the fine by Monday, 16 Nov 2015, shareholders are advised that the Nigerian authorities have, without prejudice, agreed that the imposed fine will not be payable until the negotiations have been concluded.” The fine was imposed in reaction to MTN’s failure to disconnect 5.2 million unregistered SIM Cards.   Source: Daily Post

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This article was first published on 16th November 2015

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