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MTN reaches deal to pay N330 billion fine


MTN Nigeria has agreed to pay the fine slammed on the company by the Nigeria Government it in 2015.
The company reached a deal which will allow it pay the N330 billion (US$3,2 billion) fine over three years, and they will begin with N30 billion in July.

It will pay the same amount in March 2017, while afterwards, the telecoms giant will pay N55 billion in March 2018, December 2018, March 2019 and December 2019.

The company had paid N50 billion on 24 February 2016, and that constitutes part of the monetary component of the fine.

It will be recalled that the Nigerian Communications Commission (NCC) in 2015 fined MTN Nigeria for failing to register more than 5 million subscribers. 

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