Nigeria Government Set to Restart Talks with MTN on Billion Dollar Fine

Last year, the Nigerian Communications Commission slammed  MTN, the biggest telco in Nigeria with a $5 billion fine for failing to abide by rules that required mobile phone operators in Nigeria to disconnect  unregistered Sim Cards. The NCC had initially asked all operators to comply by August 2015 but failure by MTN to register 5 Million of its 62 million customers led to the fine which was later slashed to $3.4 Billion.
mtn ncc fine
MTN had however earlier entered into a preliminary agreement with  the government to pay $1.5 billion through a combination of government bond purchases, cash instalments and network access to the Nigerian government.
Bloomberg News recently reported  that the House of Representatives has allowed for the regulator to restart talks with MTN even as the investigations continue.  The regulator has been unwilling to restart the negotiations without knowledge of the outcome of the probe. MTN remains hopeful that a solution will be reached soon.

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