Nigerian Government Gets Final Credit Alert on MTN ‘s N330 billion Negotiated Settlement

Nigerian Government Gets Final Credit Alert on MTN ‘s N330 billion Negotiated Settlement

MTN Nigeria Plc has completed the payment of the N330 billion (about $1 billion) negotiated settlement agreed with the Nigerian government: “We are very pleased to have completed the payment of the N330 billon negotiated settlement with the NCC”. With this final payment, Nigerian government will not be getting more credit alerts and MTN should work hard to keep it that way. We do not want revenues via fines – let firms do the right things first.

MTN Nigeria Plc says it has paid the sixth and final instalment of N55 billion negotiated settlement to the Nigerian Communications Commission (NCC).

The Chief Corporate Relations Officer of MTN Nigeria, Tobechukwu Okigbo, made the disclosure in a statement on Friday in Lagos.

According to him, the amount completes MTN’s payment of the N330 billion negotiated settlement agreed between the NCC and the company in 2016.

“The successful resolution of the fine was the outcome of active collaboration between the NCC and MTN.

“We are very pleased to have completed the payment of the N330 billon negotiated settlement with the NCC.

“We are particularly gratified to be in a position to have fully met the terms of the settlement within the agreed time frames.

 

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