Wait, say what? MTN reportedly agrees to pay N1.04 trillion fine

Telecommunication company, MTN, has reportedly
agreed to pay the N1.04 trillion fine slammed on it by
the Nigerian Communications Commission NCC for
flouting the regulatory body's directive on SIM
deactivation. MTN is reportedly pleading for a staggered
payment plan to pay-up the fine.
Vanguard quoted a source as saying that the agreement
to employ the staggered payment model followed a
series of meetings between top executives of MTN
Nigeria and South Africa with VP, Prof. Yemi Osinbajo.
“There have been series of meeting at the
Presidency between Vice President Osinbajo and
MTN team both from South Africa and the
Nigerian arm. MTN wanted a waiver considering
their level of investments in the country, but
government did not buy the idea of waiver.
Instead, I think there will be concession, but
certainly not a waiver. At the conclusion of the
meeting, the MTN people negotiated on how to
stagger the payment. The Presidency is even
angry because MTN was a signatory to the
regulation, but they are failing to comply with
rules.” the source added.