Today, November 16, is deadline day for South African telecoms giant, MTN, to pay the $5.2 billion fine slammed on it by the Nigeria Communications Commission (NCC) for failing to disconnect 5.2 million unregistered SIM cards.
But the company in a statement this morning said the deadline cannot be enforced until negotiations with Nigerian authorities were concluded.
“Although the Nigerian Communications Commission set a deadline for payment of the fine by Monday, 16 November 2015, shareholders are advised that the Nigerian authorities have, without prejudice, agreed that the imposed fine will not be payable until the negotiations have been concluded,” the statement read.
MTN last week appointed former chief executive Phuthuma Nhleko as executive chairman for six months to negotiate for more favourable terms on the fine.
The company also denied reports that it had asked to settle the fine in staggered payments.