MTN Nigeria
today (Friday) said it has reached a final resolution on the N1.04 trillion
fine imposed by the NCC in October last year. The telecom firm was sanctioned by the regulatory authority over
its refusal to disconnect 5.1 million improperly registered lines within the
prescribed deadline.
MTN said in a statement today that after several weeks of
negotiations, an agreement was reached with the Nigerian government on terms
acceptable to all parties.
“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.
The NCC is yet to say anything on the agreement.
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