The Federal government of Nigeria has stated that it will not enforce a $5.2 billion fine imposed on South Africa’s MTN until negotiations have been concluded.
The telecommunications company made this disclosure on Monday.
The Nigerian government had slammed a $5.2 billion fine on the company for failing to disconnect 5.2 million unregistered SIM cards.
Nigerian government had set November 16 as deadline for payment of the fine.
“Although the Nigerian Communications Commission set a deadline for payment of the fine by Monday, 16 Nov 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,” MTN said in a statement today.
MTN and Nigeria are still in negotiations, the company added.