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Finally, MTN Agrees To Pay N330 Billion Fine

 

MTN-operationsTelecommunications giant, MTN Nigeria  said it has reached a final resolution on the N1.04 trillion fine imposed  on it by the Nigeria Communications Commission (NCC) .

“MTN will pay the NCC the sum of N330 billion in full and final settlement of the fine in line with an agreed payment plan,” the MTN Nigeria Chief Executive Officer, Ferdi Moolman, said in a statement.

In addition to the monetary settlement, Mr. Moolman said MTN Nigeria would commit to complying with the Code of Corporate Governance for the telecommunications industry.

He said the company would also take steps to ensure the listing of its shares on the Nigerian Stock Exchange as soon as is commercially and legally possible as well as ensure full compliance of its license terms and conditions as issued by the NCC.

“MTN Nigeria once again offers its most sincere apologies for the series of unfortunate events that led to the imposition of the fine,” Mr. Moolman said.

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