Communications Technology Minister, Adebayo Shittu has said that although Nigeria will commence new talks with South African mobile phone operator MTN, to settle a dispute over a $3.9 billion fine, the final decision rests with President Muhammadu Buhari.
Last week, the giant telco said it had withdrawn a lawsuit against Nigeria over the fine, which originally stood at $5.2 billion, and aimed for a settlement. MTN was fined for failing to disconnect unregistered SIM users and has paid $250 million toward a settlement.
“It is (now) for government to meet with them and conclude negotiations,” Shittu told Reuters late yesterday, the first reaction from the ministry.
MTN shares, which had been down 2.8 per cent yesterday, trimmed losses after the comments although they were still down 1.8 per cent by 1045 GMT (05:45 a.m. EST).
Shittu said President Buhari would make the final decision on any settlement over the penalty.
“It is within his power and jurisdiction to do that if he feels that it would be in the interests of Nigeria to so do,” he added.
