The fate of MTN is now in the hands of Nigerian President Muhammadu Buhari as he now must decide the course of action to follow after MTN pleaded for leniency over a massive fine threatening to cripple the cellphone giant.
MTN’s run-in with the Nigerian authorities emerged last month, sending the stock tumbling and raising doubts about the company’ s outlook after the Nigerian Communications Commission (NCC) slapped it with a $5.2 billion (R73bn) fine for the failure to disconnect 5.2 million unregistered users.
“Minister of Communications, Adebayo Shittu said in Lagos that it will be up to the president to determine which direction to go since MTN asked for leniency,” ministry spokesman Tajudeen Kareem was quoted by Reuters as saying yesterday.
MTN spokesman Chris Maroleng said the company had no update to make on the fine.
The South African-based company last month appealed to Buhari for leniency. They have been in talks since.
Information Ministry spokesman Tajudeen Kareem confirmed Thursday, November 26, 2015 that Buhari will decide, but he did not say when.