After Nigeria’s telecoms regulator, Nigerian Communications Commission (NCC), gave MTN Group two weeks to pay a $5.2 billion fine, MTN has finally bowed to pressure and has accepted to pay the fine.
The fine was imposed on the mobile phone company for failure to cut off users with unregistered SIM cards.
A series of meeting has been held between MTN management team from South Africa and Nigeria with the Vice President, Prof. Yemi Osinbajo to resolve the matter. MTN wanted a waiver considering their level of investments in the country, but government did not buy the idea of waiver.
NCC had reportedly vowed that MTN would not escape the fine because of the implications of its actions and inactions to national security. The NCC also stated that while the issue is also being looked into by the federal government, MTN would risk withdrawal of its licence if its fails to comply with the fine.
MTN was a signatory to the SIM registration regulation.
The post MTN Agrees To Pay N1.04 Trillion Fine. Here’s Why appeared first on KokoFeed - Nigerian News For The Young Generation.
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