MTN’s largest shareholder and the country’s Sovereign Wealth Fund, Public Investment Corporation (PIC), has said it will seek for more heads to roll when it meets with the Acting CEO Nhleko. The CEO of PIC Daniel Matjila said in a statement.

“A lot more people need to take collective responsibility for the fine… for the alleged failure to comply with regulatory requirements,”
MTN has been in negotiations with the Nigerian government to reduce the fine and has found some
sympathy with a cross section of analysts who believe the fine is excessive and inconsistency with what was obtainable elsewhere.