MTN Offers to Pay $1.5Bn to Settle NCC Fine

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

This is coming two-days after President Jacob Zuma of South Africa visited Nigeria during which he reportedly made the case for a renegotiation between the South African telcom 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.

It was after this reduction that MTN dragged government to court.