'No talks with MTN over N1.4 trillion fine' - VP Osinbajo

folarin okunola

November 3, 2015 9:18 AM

According to the VP’s assets declaration released in early September, he has shares in MTN.

Prof. Yemi Osinbajo.

According to various media reports, Vice President Yemi Osinbajo has stated that he is not in talks with MTN over the $5.2 billion fine imposed on it by the Nigerian Communications Commision (NCC).

Mr. Laolu Akande, senior special assistant to the Vice President on media and publicity, made this known yesterday, according to a report by Daily Trust.

According to the VP’s assets declaration released in early September, he has shares in MTN Nigeria.

MTN had said in a statement yesterday that it was in talks with the Nigerian presidency, internal security agencies, and the NCC as regards the fine slammed on it by the regulator for failing to deactivate unregistered subscribers and subscribers that are incompletely registered on its network.

READ: Telecom giant's CEO arrives Nigeria to hold talks with NCC, FG over N1 trillion

“The Office of the Vice President is not in talks with MTN over the issue. If there is any talks at all with the MTN, I guess the executive body of the government that is responsible is the NCC,” the Vice President’s spokesman said, according to the Daily Trust report.

MTN’s shares have fallen by about 25% since news of the fine broke last week, shaving off about $4 billion of the company’s market value.

folarin okunola