MTN Group said the Nigerian telecom regulator has waived the 16 November deadline to settle a USD 5.2 billion fine for failing to disconnect 5.2 million unregistered customers. In a statement to its shareholders, MTN said its executive chairman Phuthuma Nhleko personally met with the Nigerian authorities to continue the ongoing discussions on the fine. It said these discussions include matters of non-compliance and the remedial measures that may have to be adopted to address this. The Nigerian authorities agreed that the fine will not be payable until the negotiations have been concluded. MTN said its committed to resolving the matter together with the NCC as soon as possible.
Nigerian ICT Minister Adebayo Shittu said that it was not the intention of Nigeria for MTN Nigeria to quit the country because of the fine imposed in October. Stressing that the fine should not jeopardise the company's future in Africa's most populous nation and largest economy, Shittu told Reuters that nobody wants "MTN to die or MTN to shut down."
