Nigerian court allows grace period for MTN fine

The Nigerian federal high court has given MTN until 18th March to reach an agreement outside of court over the $3.9 billion fine it faces in the country.

MTN Nigeria recently claimed that it would not pay a penny of the fine, which was issued last October by the Nigerian Communications Commission after the operator failed to disconnect unregistered SIM cards in compliance with new security regulation.

The operator has informed its shareholders that a high court judge has “adjourned the matter to 18 March 2016 in order to enable the parties to try and settle the matter. If the parties are unable to reach a settlement the matter will then proceed on that date.”

Although the fine has already been reduced by 25% from $5.2 billion, MTN made clear in December its intent to challenge the penalty in court.

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