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MTN Agrees to Pay $1.7 billion Fine to Nigeria Over the Next 3 Years

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MTN-NigeriaSouth African telecoms giant MTN said on Friday it will pay a $1.7 billion (about N330 billion) fine to the Nigerian government in a “full and final settlement” over its failure to disconnect unregistered mobile phone users, Daily Mail reports.

The company made this known in a statement on Friday. The statement read in part:

MTN Nigeria has agreed to pay a total cash amount of N330 billion over three years.

MTN is pleased to inform shareholders that the matter has been resolved with the Federal Government of Nigeria.

MTN executive chairman Phuthuma Nhleko “expresses his thanks and gratitude to (the Nigerian government) for the spirit in which the matter was resolved”.

The company was fined $3.9 billion last year by the Nigerian Communications Commission (NCC) over inability to trace the unregistered 5.1 million users in a country faced with kidnapping and terrorism.

5 Comments

  1. winnie

    June 10, 2016 at 3:21 pm

    eral government will still complain that there’s no money. Added with the recovered money from loots. there’s still no money. I may not be an economics guru but na wa for our leaders

    • Nene

      June 10, 2016 at 4:47 pm

      Honestly. We need accountability, visibility in Nigeria, not just the government.

  2. mr henry

    June 10, 2016 at 6:00 pm

    Nigerians should be updated as soon as d money has been fully paid.

  3. Prisca

    June 10, 2016 at 8:22 pm

    This is a good development for the country. People should be held accountable

  4. jaybird

    June 11, 2016 at 9:23 am

    They will pay by robbing us! Took #50 from me twice for mtn back up, I have called, screamed, shouted, stop Ur useless back up, I never asked for it, why charge me for what I do not know, and do not want, they say the only way to stop it is by sending STOP to 307, I have done that a million times, it says network out of order, they wanna charge me next week again. If they do, Nigeria will hear me cos I will go to their miserable office, and scream the place down!

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