Nigeria has suspended talks with MTN GROUP about the fine which is pegged at a record of $5.2billion which was imposed on the wireless company in October.
The suspension will give much time to the country’s House of Representatives to complete an investigation into the size of the penalty and how it has been handled.
According to the spokesperson of Nigeria’s Ministry of Communications, Victor Oluwadamilare, he said Lawmakers in the country have set up a committee which will investigate the matter.
“Lawmakers have set up a committee to investigate this saga which has hit our country. We will do nothing about the issue until the investigations have fully been concluded”, said Victor.
This news will somehow frustrate the company which seeks to resolve the matter and the fine levied on them quickly.
The MTN company which is major telecommunication firm in Nigeria was fined in October by the Federal Government of Nigeria through the Nigerian Communications Commission for missing a deadline to disconnect Subscribers Identification Modules (SIM) who were deemed unregistered in the country.
The saga has affected the company’s stock which has fallen by almost third since the penalty was publicly made.