MTN GROUP AGREES TO PAY NIGERIAN $1.7 BILLION DOLLARS FINE

The MTN Group of South African Headquarters ,  said Today Friday June10th 2016 That they would pay a $1.7 billion Dollars fine to the Nigerian government in a “full and final settlement” over its failure to disconnect unregistered mobile phone users.

MTN Group, formerly M-Cell, is a South Africa-based multinational mobile telecommunications company, operating in many African, European and Asian countries. Its head office is in Johannesburg.

The company said in a statement that “MTN Nigeria has agreed to pay a total cash amount of Naira 330 billion over three years.”
Africa’s biggest wireless operator was fined $3.9 billion last year and has since been in negotiations with the government over the payout.

Mtn Yearly Revenue: 15.43 billion USD (2015)