Nigeria’s President Muhammadu Buhari will have the final say on the $3.9bn fine imposed on giant mobile company MTN in the country, Reuters news agency reports.
Reuters reports Telecoms minister Adebayo Shittu as saying that it would be a good idea if MTN ended its legal challenge to the fine.
“If they withdraw it creates a better environment, an environment where there is no stress or pressure on either side,” Reuters quotes him as saying.
The Nigerian Communications Commission (NCC) slapped a $5.2bn fine on MTN in October 2015 for failing to disconnect users with unregistered SIM cards, but after weeks of negotiations reduced the fine by 25%.
MTN, which makes about 37% of its revenue from the West African nation, then filed a suit questioning the NCC’s legal grounds for imposing the penalty.
“I’m not aware of any out-of-the-court settlement,” telecoms minister Adebayo Shittu told reporters.
A judge in Lagos, Nigeria’s commercial capital, last week gave the company until March 18 to try to reach a settlement with the Nigerian authorities over the fine. The prospect of a lower fine boosted MTN shares.
Nigeria has been trying to halt the widespread use of unregistered SIM cards amid worries these are being used for criminal activity, including by the militant Islamist group Boko
