MTN Nigeria has finally bowed to pressure as it has accepted to pay the N1.04 trillion fine slammed on it last week by the telecoms regulatory authority, the Nigerian Communications Commission (NCC).
It is believed that MTN pleaded for a staggered payment model.
People familiar with the matter disclosed that the federal government is already yielding to the plea, which according to him, was part of the agreement reached at the series of meeting held at the weekend in Nigeria.
“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.”, an official said.
