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MTN gets 2-week ultimatum to pay N1.04trn fine

MTN gets 2-week ultimatum to pay N1.04trn fine
October 30
23:02 2015
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The Nigerian Communications Commission (NCC) has given MTN Nigeria an ultimatum of two weeks to pay the N1.04 trillion fine imposed on the mobile phone company for failure to cut off users with unregistered SIM cards.

Tony Ojobo, NCC spokesman,told Reuters that MTN had until November 16 to make the payment, but the two sides were in talks to resolve the matter.

“The outcome of the discussion may affect the date. That’s why they are having the discussion so that they can reach a solution,” Ojobo said.

Another source told Reuters that the presidency and internal security agency were also involved in the talks.

The sanction has affected the stock price of the largest telecommunications outfit in Africa’s most populous nation.

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Exchange Rates

March 25, 2019USDGBPEUR
INTERBANK306397354
LAGOS380478402
KANO375477498
PH380478498
ABUJA375476400
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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