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
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).
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