Parliament plans to summon MTN officials to explain why the company was fined $5.2-billion by Nigeria's industry regulator. The fine "is a worrying issue," said Nkhensani Kubayi, chairman of parliament's telecommunications committee yesterday.The panel also intended summoning the South African industry regulator to determine whether MTN was compliant with local rules, with hearings likely to take place next year, she said.Nigeria's telecommunications regulator has given MTN until November 16 to pay the fine, which relates to the timing of the disconnection of 5.1 million subscribers and is based on a charge of 200000 naira (R13 907) for each unregistered customer.Nigeria is Johannesburg-based MTN's biggest market with 62 million clients since September.While Nigeria's Communications Commission this week approved the renewal and extension of MTN's licence for another five years, talks relating to the fine continue.MTN was trying to get the fine reduced by as much as 80% and was considering borrowing money from banks to help settle whatever penalty was agreed upon, said Renaissance Capital."MTN is pushing to reduce the fine," Adesoji Solanke, RenCap's head of research in Nigeria, said yesterday, citing a bank he did not identify.A second lender said: "MTN is considering borrowing from banks as it recently checked what the banks' lending capacity to it is.""We don't comment on banking matters and banking regulators in Nigeria are best-placed to provide context on these matters," MTN spokesman Chris Maroleng said by phone."I don't have that information," Tony Ojobo, a spokesman for the Nigerian commission, said in a text message.MTN shares gained as much as 4.1% and traded 3.5% higher at R160.89 on the Johannesburg Stock Exchange yesterday afternoon.The stock is down by 27% this year, valuing the company at R297-billion.MTN is being advised by some unidentified banks as the company pleads its case with the regulator, according to Solanke.A decision to borrow would be one of financial management rather than an indication of stress, he said.SA bank off the hookNigeria's central bank has rejected a request by the country's Financial Reporting Council to take disciplinary action against Standard Bank.The council had said the lender made material misstatements in its financial accounts, and recommended a fine.The council had not followed due process and the central bank was "unable to accede to your request to take disciplinary action against" Lagos-based Stanbic IBTC Holdings, governor Godwin Emefiele said in a letter to the council.Bloomberg..