MTN Nigeria and the Nigerian Communications
Commission (NCC) have reached an amicable
settlement in the matter of the N1.04 trillion fine
imposed by the regulator in October 2015 for
MTN’s delay in disconnecting 5.1 million
improperly registered lines within the prescribed
deadline.
Further to several weeks of negotiations between
MTN, NCC and the Federal Government, the
following agreed terms have been announced.
MTN will pay the NCC the sum of N330 billion in
full and final settlement of the fine in line with an
agreed payment plan.
In addition to the monetary settlement, MTN
Nigeria undertakes to subscribe to the voluntary
observance of the Code of Corporate
Governance for the Telecommunications Industry
and will ensure compulsory compliance. The
company also undertakes to take immediate
steps to ensure listing of its shares on the
Nigerian Stock Exchange (NSE) as soon as is
commercially and legally possible.
Speaking on the issue, MTN Nigeria Chief
Executive Officer, Mr Ferdi Moolman said: “MTN
Nigeria once again offers its most sincere
apologies for the series of unfortunate events
that led to the imposition of the fine,” he said.
Regarding the company’s undertaking to list,
Moolman said, “MTN Nigeria is undoubtedly one
of Nigeria’s success stories. Broader public
participation exemplifies this.”
The Nigerian Communications Commission (NCC),
also in a press statement signed by Mr Tony
Ojobo, the Director of Public Affairs, said that
after nearly six months of negotiation and re-
negotiation over the N1.04 trillion fine imposed
on MTN Nigeria, that the fine was on Friday
reduced to N330billion.
This amount, according to the NCC, includes the
“goodwill” payment of N50 billion earlier made
by MTN to the government.
Meanwhile, shares in the Johannesburg-listed
mobile operator surged 21 per cent after the
settlement was announced on Friday. With 170-
million people, Nigeria is Africa’s most populous
country and MTN’s largest market.
“The Nigerian government had to listen and yield
to the plea of MTN to reduce the fine because
the company said paying the fine in full will
ground to a halt its operations in Nigeria,” an
official said, asking not to be named.
The fine of $1.67 billion will be paid over three
years and is only around a third of the $5.2
billion figure initially demanded by Nigeria last
October.
http://tribuneonlineng.com/n104-trillion-fine-mtn-now-to-pay-n330-billion-over-3-years

Why give them discount......?

brunofarad:
Why give them discount......?

Change off course

EmptyHen

Well, MTN has really dealth with Nigerians with enough scam adverts and tactics. The money requested from them can't be compared to what they've "squeezed off" Nigerians through ill means.

PureWays:
Well, MTN has really dealth with Nigerians with enough scam adverts and tactics. The money requested from them can't be compared to what they've "squeezed off" Nigerians through ill means.

It is Awe money dem dey take entertain Awe

cc lalasticlala, mynd44,ishilove, seun

#1.04T revenue reduced and those who have built castle with the money should see their lives
cc omenka and passingshot