MOBILE Telecommunication Network (MTN) has finally agreed to pay the $5.2 billion (N1.4 trillion) fine slammed on it by pleading with Nigerian Communications Commission (NCC) to stagger the payment.
Daily Sun investigation revealed that the last-minute agreement to pay followed series of meeting between MTN management team from South Africa and Nigeria with Vice President, Yemi Osinbajo.
MTN agreed to pay the fine in the interest of its business, but pleaded with the Federal Government for a staggered payment model.
A source from the Presidency confirmed the new arrangement and also added that the Federal Government is favourably disposed to the payment schedule, which he said, was part of the agreement reached at series of meeting held on Thursday and Friday in Nigeria.
The source, further explained that there have been series of meetings at the State House between Osinbajo and MTN team both from South Africa and the Nigerian arm. The telecommunications firm wanted a waiver considering their level of investments in the country, but government reportedly rejected the idea.
In spite of widespread calls for the intervention of the Office of the National Security Adviser (NSA) on the N1.4 trillion fine, Femi Falana (SAN) last week, called on the NSA not to intervene in the matter. He insisted that laws of the NCC and that of Nigeria must take their course.
Last week, NCC fined MTN N1.4 trillion for violating its directive on SIM deactivation.