Presidents Buhari And Zuma To Meet In Johannesburg Over MTN Fine

President Muhammadu Buhari and his South African counterpart, Jacob Zuma, are set to meet in Johannesburg this week to discuss the US$5,2bn fine imposed by Nigerian Communications Commission on MTN.

The Forum of China-Africa Co-operation, which takes place in South Africa this week, will provide the backdrop for a meeting between the two presidents to discuss the record-setting fine, which is reportedly more than 50 times larger than the next-biggest regulatory fine to be imposed on a telecoms operator anywhere in the world.

MTN Nigeria was fined 1,04 trillion naira — $5,2bn, or R75bn – for allegedly failing to cut off as many as 5,1m unregistered Sim cards under that country’s Sim card registration legislation. Nigeria sees the registration process as a key part of its crackdown on crime and terrorism.

For the past two weeks, interim MTN Group Executive Chairman Phuthuma Nhleko — who has taken the reins following the sudden resignation of CEO Sifiso Dabengwa — has been negotiating with Nigerian authorities in an effort to have the fine reduced and is said to be seeking to have it paid off in tranches.