MTN Group has hired a former United States Attorney–General, Eric Holder, to help challenge a $3.9 billion fine imposed on it by Nigerian Communications Commission (NCC) for failing to disconnect unregistered subscribers.
Financial Times reported on Wednesday that Holder pleaded with Nigerian officials last month on behalf of MTN.
The NCC had slammed a $5.2 billion penalty on MTN in October, and after weeks of lobbying, there was a 25 percent reduction to $3.9 billion.
MTN, however, was still not prepared to pay the fine and launched a court challenge in December, saying the NCC had no legal grounds to order the penalty.
A court in Lagos had last month gave MTN until March 18 to reach a settlement on the fine, which equates to more than twice MTN’s annual average capital spending over the past five years.
MTN spokesman, Chris Maroleng, was not immediately available to comment on latest development, Reuters added.