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Buhari, Zuma to meet on $5.2 billion fine

The Federal Government had announced earlier last week that the final decision on whether MTN would pay the fine in full would be determined by the president.

A customer leaves an MTN shop in Johannesburg April 10, 2012.    REUTERS/Siphiwe Sibeko

The debate and issues raised by the $5.2 billion fine imposed on MTN Nigeria by the NCC are yet to be resolved but it seems that there may be an end in sight soon.

The Forum on China-Africa Co-operation will hold from December 4-5, 2015 and apart from providing a platform for robust discussions on trade, it will also offer a channel for sensitive diplomatic discussions.

The forum will make for a perfect setting for President Muhammadu Buhari to meet with South African President Jacob Zuma to iron out a solution on the issue.

The Federal Government had announced earlier last week that the final decision on the MTN fine would be determined by the president.

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TimesLive reports that sources confirm that the two presidents will most likely meet on the sidelines of the forum to map out a way forward as regards the fine.

Nigeria is MTN’s biggest market and the company has already lost about $4.2 billion in value after news of the fine imposed on it by the NCC broke.

The South Africa-based company was fined N1.04 trillion for failing to deactivate unregistered SIMs despite the Commissions directives.

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