Home Business 2 Days After Zuma’s Visit, MTN Offers to pay $1.5bn

2 Days After Zuma’s Visit, MTN Offers to pay $1.5bn


It seems South African President Jacob Zuma’s visit to Nigeria did not yield much gain with respect to his negotiation with President Buhari over the MTN fine.

Two days after the visit, MTN has proposed to pay 300 billion naira ($1.5bn) to settle the record $3.9bn fine in Nigeria for missing a deadline to disconnect unregistered subscribers.

During his visit, President Zuma reportedly made the case for a renegotiation between the South African telecoms giant and the NCC.

MTN made the offer to put to bed the dispute that has been running since the fine was first imposed by Nigerian regulators in October.

The country’s Senate Committee on Communications met to discuss the matter on Thursday and concluded that the negotiations with MTN must continue with the involvement of Adebayo Shittu, Minister of Communications.

NCC had last year slammed N1.04 trillion fine on MTN for an infraction of its SIM card rules and regulations.

However, the sum was reviewed and slashed down by 25 percent following interventions from different quarters which ultimately brought the fine to N780 billion.



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