MTN Accepts To Pay $1.7b Fine In Full settlement

LEADING South African telecoms company, MTN Nigeria on Friday disclosed its readiness to pay a sum of $1.7 billion fine to the Nigerian government as a full and final settlement of the fine slammed on it by Nigerian Communication Commission (NCC)over its failure to disconnect unregistered mobile phone users prior to the deadline issued to all the global mobile service providers.

The telecoms giant in a statement stated that the management was glad over the resolution of the crisis with the Federal government of Nigeria adding that the concern of the Nigerian government was on the security of lives and properties and not the money.

 “MTN Nigeria has agreed to pay a total cash amount of Naira 330 billion over three years. MTN is pleased to inform shareholders that the matter has been resolved with the Federal Government of Nigeria,” the company statement said.

President Muhammadu Buhari had during the visit of the South African President to Nigeria in respect of the crisis explained that MTN Nigeria by its negligence to deactivate unregistered subscribers aided the operation of the Islamic terrorist group, Boko Haram, and therefore cannot escape the sanction.

“The concern of the federal government was basically on the security, not the fine imposed on the MTN. You know how the unregistered GSM (Global System for Mobile communication) are being used by terrorists.

“That was why NCC (Nigerian Communications Commission) asked the MTN, Glo and the rest of them to register GSM. Unfortunately MTN was very slow and contributed to the casualties”, President Buhari stated after his meeting with his South African counterpart.

MTN Nigeria was originally fined $3.9 billion last year but has since been in negotiations with the Nigerian government towards downward review of the amount leading the country’s President to intervene in futility. It will also be recalled that Boko Haram insurgency has sentover 15,000 to early graves and forced more than 3 million out of their homes to some Internally Displaced Persons homes.