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.”
-
Business1 week agoJetour Nigeria, dealers take dashing, other models to Abuja Experience
-
Business5 days agoAbuja gears up for Jetour T2’s rugged-luxury experience
-
Business6 days agoDangote IPO rush crashes Bamboo login as investors flood platform
-
Business6 days agoNigeria Business Outlook: Dangote IPO, markets, inflation and naira in focus this week
-
Business4 days agoDangote: Petrol price gap fuels smuggling as Nigeria faces fresh pump price surge
-
Latest7 days agoHamzat meets Pastor Chris Oyakhilome, hails Christ Embassy’s community impact
-
Business4 days agoTinubu’s economic reforms face public confidence test as cost-of-living crisis persists
-
Business6 days agoAugust inflation faces upward pressure despite disinflation trend – Analysts