MTN has announced that it has come to an agreement with the Nigerian government over the fine issued the Nigerian Communications Commission (NCC)
We’ve been following this story but in case you haven’t, NCC fined MTN $3.9 billion for not deactivating unregistered SIM cards before the deadline. Of course, MTN didn’t take that happily and they’ve been dragging the matter since last year.
MTN has agreed to pay N330 billion over the course of four years (that’s $1.671 billion at the official rate). They already paid about N50 billion in “good faith” earlier this year so the balance comes to N280 billion.
The balance will be paid in instalments with N30 billion paid each year for two years (2016 and 2017), then N55 billion paid twice a year for the remaining two years (2018 and 2019).
Source – innovation-village.com
