Nigerian President Muhammadu Buhari will make a decision on the $5.2bn (£3.3bn) fine issued to South African mobile company MTN. Nigeria's communications ministry said the president will decide in which direction to go.
The record fine was imposed by the Nigeria Communications Commission (NCC) in October after MTN allegedly failed to disconnect non-registered SIM cards within the deadline given. NCC explained the penalty was based on the rate of 200,000 naira (£653) for each of the 5.2 million unregistered cards that should have been disconnected by mid-August.
"The (communications) minister (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 told Reuters.
The fine is the equivalent of two years of MTN's annual profit. The company shares have plunged since the fine was issued and the company's
CEO Sifiso Dabengwa resigned. He justified his decision by saying it would protect the company's interests.
Earlier in November, NCC said it would
postpone the deadline for the payment but said the amount would not decrease. MTN originally had until 16 November to pay the amount. The new deadline has not yet been announced.
MTN said in a statement: