After several months of negotiation, telecoms company, MTN finally agreed to pay N333 billion ($1.7 billion) to the federal government.
This was made known in a statement by MTN on Friday, stating that the fine will be paid over a space of three years and this according to them, will ensure the listing of its shares in the Nigerian Stock Exchange.
The N1.04Trillion fine imposed on MTN, Nigeria by the Nigerian Communications Commission (NCC) the fine was yesterday reduced to N330Billion. It was also agreed that MTN shall undertake the following:
It was also agreed that MTN shall undertake the following:
•Subscribe to CCG
•List on NSE
— Aso Rock (@AsoRock) June 10, 2016
The fine came as a result of the telecoms company failing to comply with a directive to disconnect 5.1 million improperly registered lines before the deadline given to telecoms operators in the country.