Site icon Connectnigeria Articles

MTN Nigeria Reaches Resolution on Fine with Federal Government

A final agreement has been reached between MTN Nigeria and the Federal Government with respect to violations of the Nigerian Communication Commission regulations. On October 20th, 2015, the NCC imposed a fine of ₦1.04 trillion on MTN Nigeria, as a result of this violation, which in essence was a failure on the part of MTN to deactivate 5.1 million unregistered SIM cards by the set deadline of August 11th, 2015.

With negotiations and re-negotiations over the fine, a conclusion has finally been reached. Based on the agreement, the fine has been reduced to ₦330 billion and will be paid in 6 instalments. The first two instalments will be ₦30 billion each while the final 4 will be ₦55 billion each. It will be recalled that MTN had earlier made a goodwill payment of ₦50 billion, this would also be subtracted from the agreed amount.

Also as part of the resolution, MTN will be doing the following:

Exit mobile version