Nigeria has extended the payment deadline for the US$5.2 billion fine imposed on MTN, it emerged on Monday.
"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," said MTN, in a statement.
The South Africa-based telco has been in talks with government officials and NCC representatives over the penalty levied on its Nigerian operation since the beginning of November.
MTN Nigeria was slapped with the fine in late October after failing to disconnect 5.1 million unregistered SIM cards in accordance with the NCC’s timeline. The telco was fined 200,000 naira (approximately $1,000) per subscriber, leaving it with a total bill of $5.2 billion.
The fine prompted last week’s resignation of MTN group CEO Sifiso Dabengwa.
His interim replacement, Phuthuma Nhleko, said his first priority is to deal with the urgent situation in Nigeria before finding a permanent successor to Dabengwa.
"MTN is committed to resolving the matter together with the NCC as soon as possible and will continue to update stakeholders of any material developments regarding the aforementioned fine," MTN said.
