FG extends deadline for MTN to payN1.04 trillion fine

The Federal government has reportedly extended the date for the payment of the N1.04 trillion fine it imposed on telecommunications company MTN Nigeria over their failure to obey the NCC directive on the deactivation of unregistered sim cards.

According to a statement from MTN South Africa, they have come to an agreement with the Nigerian authorities that the November 16th (today) deadline for the payment of the fine was not feasible.

"Although the Nigerian Communications Commission (“NCC”) 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 in part reads