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Mobile telecoms company, MTN has accepted to pay the N1.04 trillion fine slammed on it last week by the Nigerian Communications Commission (NCC).
The agreement was reached after series of meeting held between MTN management team from South Africa and Nigeria with the Vice President, Prof. Yemi Osinbajo.
Vanguard quotes a source as saying: “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.”
MTN which has largest subscriber base in Nigeria, it was gathered, may have agreed to pay the fine to sustain the interest of its telecoms business.
It would be recalled that NCC had said that MTN would not escape the fine, owing to the enormity of its implication to national security.