Pay N1trillion fine or face immediate sanctions – NCC warns MTN

The Nigerian Communications Commission (NCC) has given MTN Nigeria an ultimatum of two weeks to pay the N1.04 trillion fine slammed on it.

The penalty was 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 that the two parties were in talks to resolve the matter.

According to Ojobo, the outcome of the discussion may affect the date. He said that’s why they are having the discussion so that they can reach a solution.

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

MTN’s stock price has dropped since news of the fine broke out during the week.

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