MTN proposed to pay $1.5 billion of its $3.9 billion fine to settle an ongoing dispute with Nigerian regulators, reports Bloomberg.
The fine, which originally stood at $5.2 billion, relates to the company’s failure to cut off unregistered SIM cards from its network in the country, amid terrorism concerns, and was issued by regulator Nigerian Communications Commission (NCC) in October last year.
Latest developments indicate a document was handed to reporters in the Nigerian Senate revealing the settlement offer, and comes after the country’s committee on communications concluded that negotiations must continue between the operator and minister of communications, Adebayo Shittu.
Earlier this week, Nigerian president Muhammadu Buhari, speaking at a joint press conference with South African counterpart Jacob Zuma, said talks between MTN and the state were still ongoing.
MTN last month dropped a legal case against the fine, and also made a “good faith” payment of $250 million to Nigeria, where it operates as the country’s largest operator.
MTN, the NCC and Shittu are reportedly due to report back to the senate in two weeks.