Telecoms Giant MTN Agrees To Pay Nigerian $1.7 Billion Fine

After a protracted period of negotiations and legal tussles, MTN has finally agreed to pay a whooping sum of money as fine for non-compliance with a federal directive.
Reports hitting the Nigerian media space reveals that multinational telecommunication company, MTN has decided today, Friday, the 10th of June, 2016 to pay a massive fine of $1.7 billion to the Nigerian government after disobeying a directive by the Nigeria Communications Commission to disconnect unregistered lines of customers.

The company said in a statement that “MTN Nigeria has agreed to pay a total cash amount of Naira 330 billion over three years.” according to an information obtained from AFP.
 
The federal government blamed the South African company for the increased terrorist attacks of Boko Haram due to their failure to block unregistered lines within the grace period.

MTN was fined $3.9 billion last year, 2015 but internal and external forces talked the government to softpedal on the sanction. It is expected that the funds from the fine could be invested to help the cash-trapped Nigerian economy due to the dwindling prices of oil in the international market.

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Posted: at 10-06-2016 01:34 PM (7 years ago) | Hero

Really that's nice that telecommuncation people are sure making lot of money from us oo God dey oo

Posted: at 10-06-2016 01:43 PM (7 years ago) | Hero

Very soon now they will start sacking Nigerian staffs as pay back......

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Posted: at 10-06-2016 01:47 PM (7 years ago) | Gistmaniac

so dem never even pay all this while abi.. and FG still allow dem to operate for naija 

Posted: at 10-06-2016 02:47 PM (7 years ago) | Grande Master

Abeg oh na wre d money go cum enta afta d payment? Cos all d loot wey dem recover na ear we dey tk hear am, we no dey c dem.

Posted: at 10-06-2016 03:09 PM (7 years ago) | Newbie

Oya make una go pay..

Posted: at 10-06-2016 03:41 PM (7 years ago) | Upcoming

GOOD TO KNW

Posted: at 10-06-2016 03:57 PM (7 years ago) | Addicted Hero

That go help naija economic small.

Posted: at 10-06-2016 04:33 PM (7 years ago) | Hero

B4 Nko mak dey no pay mak buhari buru fa

Posted: at 10-06-2016 05:09 PM (7 years ago) | Gistmaniac

I bet Nigerians will never feel the impact of this money if they eventually pay it. (it will go strait to private account) .#its of no use to us#

Posted: at 10-06-2016 06:30 PM (7 years ago) | Hero