MTN has reached a deal with the Nigeria Government regarding the N330 billion (US$3,2 billion) regulators imposed on it last year.

Through the deal, MTN will pay the amount over three years beginning with N30 billion in July.

A similar amount will be paid in March 2017, with the company then paying four traches of N55 billion in March 2018, December 2018, March 2019 and December 2019.

The Naira 50 billion paid in good faith and without prejudice by MTN Nigeria on 24 February 2016 forms part of the monetary component.

Further to the announcements to shareholders regarding this matter, the company said MTN Nigeria subscribes to the voluntary observance of the Code of Corporate Governance for the Telecommunications Industry and will ensure compulsory compliance when the said code is made mandatory for the Telecommunications Industry.

“MTN Nigeria undertakes to take immediate steps to ensure the listing of its shares on the Nigerian Stock Exchange as soon as commercially and legally possible after the date of execution of the settlement agreement,”

MTN Group stated.

The Nigerian Communications Commission fined MTN for failing to register more than 5 million subscribers.

http://newsday.com.ng/breaking-mtn-nigeria-reach-agreement-on-landmark-fine/

Sanity reigns when you do not have corrupt leaders at the helms of affairs.

MTN felt it was business as usual and they could easily buy their way through, the same way they have been doing in the past.

This is victory for sanity and anti-corruption.

SuperS1Panther:
Sanity reigns when you do not have corrupt leaders at the helms of affairs.

MTN felt it was business as usual and they could easily buy their way through, the same way they have been doing in the past.

This is victory for sanity and anti-corruption.

of course, this is the reason why all the bombings are happening cos no free money to steal in Nigeria any longer.

You must work very hard now to earn your pay and also pay consequences if wuruwuru is your lifestyle

Nice move

some good news

Very very good news. That's some cool income for doing nothing. Oshofrey gat nothing on this fine

Abeg don't scream it too loud o....



Before avengers go bomb the network and software that'll be used to transfer the money.

Dickson is already planning to sell the state university cos of dwindling revenue.

Shukuakukobambi:
Very very good news. That's some cool income for doing nothing. Oshofrey gat nothing on this fine

Abeg don't scream it too loud o....



Before avengers go bomb the network and software that'll be used to transfer the money.

Dickson is already planning to sell the state university cos of dwindling revenue.

I Thought is wich_ hunting

I think the money should be challened into a capital project we will for ever remember

Like lagos Abuja rail way
Or Port Harcourt lagos rail way

Or build the best hospital in Africa

Or even given as loans to graduates who have great business plan