MTN Accepted To Pay Fine Of N330b To Federal Government

MTN has agreed to pay its fine of $1.7b (N330b) to the federal government of Nigeria. The South African company revealed this on Thursday in a statement where it admitted its failure to disconnect several unregistered mobile phone users.

MTN was fined $3.9 billion last year and has since been in negotiations with the government until the fine came down to $1.7b. The comapny said it will pay the fine in a “full and final settlement”.

It said: "MTN Nigeria has agreed to pay a total cash amount of Naira 330 billion over three years.”