NCC
MTN agrees to pay FG N333bn over three years
South African telecommunication giant, MTN has agreed to pay a fine of N333bn to the Federal Government of Nigeria.
The telecom giant disclosed this in a statement on Friday.
“MTN Nigeria has agreed to pay a total cash amount of 330 billion naira over three years,” the company said.
The company also said it would ensure the listing of its shares in the Nigerian Stock Exchange.
It will be recall that MTN was was slammed with the fine in October 2015 by the Nigerian Communication Commission, NCC.
The sanction was due to its refusal to comply with a directive to disconnect 5.1 million improperly registered lines before the deadline given to telecoms operators in the country.
ALSO SEE: MTN Nigeria formally withdraws case against NCC
Although the fine was subsequently reduced by 25 per cent to N780 billion, MTN Nigeria failed to pay the penalty.
chairman of the group, Phuthuma Nhleko, who retired in the heat of the crisis, led the negotiation process.
He had said in his resignation letter, “The relationship between MTN, the Nigerian government and the Nigerian Communications Commission has been restored and strengthened.”
-
Latest6 days agoIsrael marks 3 years since October 7 Hamas attack amid Gaza strikes, election debate
-
Energy6 days agoFuel Battle: Dangote, marketers and government clash over petrol imports
-
Energy1 week agoPetrol, diesel prices rise 86% in 2026 as costs hit fresh highs
-
Football7 days agoNigeria’s World Cup exit under spotlight as FIFA’s DR Congo files emerge
-
Energy1 week agoHas Iran lost control of the Strait of Hormuz? Oil flows rebound as war disruptions persist
-
Latest22 hours agoFull List: Meet the 2026 Nobel Prize winners across six categories
-
Latest7 days agoUS Court set to rule on release of FBI, DEA records on Tinubu
-
Business7 days agoNigerian investors at a crossroads as fixed-income yields slide