Presidents to discuss $5.2bn fine issued by Nigerian Govt to S.African firm MTN.

President Jacob Zuma and his Nigerian counterpart, Muhammadu Buhari, are set to meet in Johannesburg this week to discuss the $5,2bn fine imposed by Nigerian authorities on South African telecommunications group MTN’s subsidiary in the West African nation. Jacob Zuma President Jacob Zuma and his Nigerian counterpart, Muhammadu Buhari, are set to meet in Johannesburg this week to discuss the US$5,2bn fine imposed by Nigerian authorities on South African telecommunications group MTN’s subsidiary in the West African nation, it was reported on Sunday.

The Sunday Times said 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.

The news of the planned meeting comes after Nigerian officials this week said that Buhari would make the final decision on the fine.

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.