BREAKING: MTN agrees to pay N333 billion fine

– MTN has finally agreed to pay the pay N333 billion ($1.7 billion) out of the N780 billion fine imposed on it by the Federal government of Nigeria – The fine will be paid over a space of three years









Telecommunications giant, MTN, has finally agreed to pay the pay N333 billion ($1.7 billion) out of the N780 billion fine imposed on it by the Federal government of Nigeria. According to MTN, the fine will be paid over a space of three years. Recall that FG sanctioned MTN for refusing to comply with a directive to disconnect 5.1 million improperly registered lines. 
As part of its settling process, MTN also announced that it will ensure the listing of its shares in the Nigerian Stock Exchange. “The relationship between MTN, the Nigerian government and the Nigerian Communications Commission has been restored and strengthened,” Phuthuma Nhleko, chairman of MTN group said in his resignation letter. Before his resignation, he led the negotiation process with the Nigerian government.