MTN $5.2 billion fine

Last updated

MTN logo MTN logo.png
MTN logo

MTN Group, a major multi-national telecom company based in Johannesburg, South Africa, was handed down a $5.2 billion fine by the Federal Government of Nigeria through the Nigerian Communications Commission (NCC). The commission exercised section 20(1) of the Telephone Subscribers regulation (TSR) law on MTN, for not meeting the deadline set up by the Mobile network operators (MNOs) for disconnecting the Subscribers Identification Modules (SIM) with improper registration. The compliance audit carried out by the NCC on MTN network revealed unregistered 5.2 million customers lines un-deactivated. This led to the NCC fining MTN with the sum of $1000 for each unregistered SIM, which amounted to $5.2bn. [1] [2]

Contents

What followed was major resignations among the top echelon of the organisation including the chief executive officer, Sifiso Dabengwa, the Head of Nigeria Operation, Micheal Ikpoki and the Head of Cooperate Affairs, Akinwale Goodluck being replaced with Phuthuma Nhleko, Ferdi Moolman and Amina Oyegbola as new chairman, managing director and Head of Corporate and Regulation respectively. [3]

The new management employed a diplomatic measure between the government of the Republic of South Africa and its Nigerian counterpart to ameliorate the burden of the liabilities from the fine. This action brought about the reduction of the liability to $3.2 billion. [4] [5]

The registration of SIM cards started in the year 2010, the initial phase of this project was handled by the Mobile Network Operators (MNOs). However, NCC took over these operations because the service providers could not meet up with the six months earmarked by NCC. The registration by NCC started in March 2011 and it was anchored by seven consultants. [6]

Activities that led to the penalty

In 2010 the Nigerian government through the National Security Adviser, other securities agencies and the NCC initiated that all SIM-cards across all mobile networks in the country should be registered. The primary objective of this project is to reduce security challenges facing the country by criminals using mobile phones to perpetuate kidnapping, robbery and other criminal activities. This exercise is in line with Section 20(1) of Registration of Telephone Subscribers Regulations (TSR) 2011 which states that: "Any licensee who activates or fails to deactivate a subscription medium in violation of any provision of these Regulations is liable to a penalty of N200,000.00 for each unregistered but activated subscription medium." [7]

In 2011, following the regulation the NCC directed all MNOs to deactivate newly registered lines that remain inactive for 48 hours after registration. In August 2015, NCC and securities agencies carried out a compliance audit on all of the MNOs networks. Contrary to the TSR, the audit revealed 5.2 million customer lines in MTN were improperly registered. Sahara Reporters claimed that the NCC and security agencies informed the public during a press conference held on 18 August 2015, that the expiration of the 7-day deactivation deadline ends on 11 August 2015. MTN failed to fully deactivate any subscribers and following repeated warnings and compliance enforcement visits by the responsible authorities only made a partial attempt to bar unregistered subscribers in selected areas over a few days in September 2015. Other operators had fully complied and reconciled their deactivations with the invalid registrations shared by the NCC up to 4 weeks earlier. The consequence of MTN's refusal to comply with the directive was even more pronounced as half of all the invalid registrations shared by the NCC belonged to MTN. [8]

In a related development, the house of representatives committee on telecommunications, headed by Saheed Akinade Fijabi to investigate the abuse among the MNOs in complying with the registration of SIM cards in the country. [9]

In a letter addressed to NCC on 2 November 2015, MTN admitted wrongdoing for their role of 5.2 million improperly registered SIMs after the NCC deadline on the network and also pleaded for mercy. NCC acknowledged the letter from MTN, but said the decision on the penalty is final, but the deadline for payment could be shifted to accommodate the position of each party. [7]

Post penalty activities

In October 2015, NCC made the pronouncement to penalise MTN for their inability to disconnect 5.2 million unregistered subscribers on its network. According to the TSR signed by all stakeholders in the telecommunications industry, any erring MNO shall be charged with N200,000 or $1000 per unregistered SIM on their network after the deadline for the registration. Subsequently, the commission demanded the sum of $5.2billion being the total amount payable by MTN for their role in improper SIM registration, to be paid on or before 16 November 2015. In a swift move to pacify its shareholders, MTN published a press release on the same day of the pronouncement that the deadline for the payment of the penalty fee of the $5.2bn (16 November 2015) will not be effected by the commission until the end of the negotiation. [10] As part of the strategy to re-stabilize the organisation, Phuthuma Nhleko, was appointed in temporary capacity as the Chairman of the organisation over the next 6 months. This action follows the resignation of Sifiso Dabengwa, the CEO of the organisation. Dabengwa in a letter confessed to Guardian Newspaper that "Due to the most unfortunate prevailing circumstances occurring at MTN Nigeria, I, in the interest of the company and its shareholders, have tendered my resignation with immediate effect.". [11] The office of the presidency in Nigeria took over the case of improper SIM registration. This instance warranted MTN group to organise a diplomatic meeting between president Jacob Zuma of South African and its Nigerian counterpart Muhammadu Buhari. The outcome of this meeting is the reduction of the fee from $5.2bn to $3.2bn. [12] [13] [14] In a related development, many Nigerians are unhappy and took the case to a court of law for proper interpretation of the position taking by the government. A group of concerned Nigerian based in Abuja, said the action taking by the FGN is a slap on the fundamental human right and breach of our Nigeria constitutions. Timipa Okponipere, the lawyer to the applicant believe the action is not only a breached of Nigeria Constitution but an attempt by NCC to conspire with MTN to cheat Nigerians of our common wealth. He said, if the decision is not pursue to a logical end it would amount to mere academic exercise. [15]

Following the report of the slash in the penalty fee, MTN Nigeria head to court challenging the 20% reduction on the ground that the amount will diminish their profit. [16] [17] According to the Mail & Guardian, John Burke, director of issuer regulation at the JSE said: "The JSE has halted all trading on MTN Group Limited. Trading will resume as soon as MTN Group Limited has issued a Sens announcement." Subsequently, 14% loss was declared on the market value of the company by Johannesburg Stock Exchange (JSE). [18] In another fresh development, the Nigerian Governors Forum, an association of 36 governors from all the states in the federation. In a statement signed by the chairman declared their support to the NCC for penalising MTN for not disconnecting 5.2 million unregistered subscribers on their database, after the deadline given by the commission. The Chairman of the forum said "The forum also commended the NCC for its strict compliance and enforcement of the law with regards to the fine issued to MTN and advised the federal government to ensure prompt and full payment." [19] [20]

The deadline for the penalty expires

The federal government of Nigeria after deliberations with the management team of MTN, gave 31 December 2015 as the last day for the payment of the penalty fee. According to the spokesperson of NCC, Tony Ojobo, the commission decision on this issue remains unchanged.

On 17 December 2015, MTN announced their decision to contest the decision by the FGN enforcing the payment of the penalty on the last day of the year 2015. [21]

MTN Nigeria also got an order from the Federal high Court stopping the Federal Government from preventing MTN Nigeria from moving its funds in Nigerian Banks out of the country. [22]

It was announced on 22 January 2016 that MTN would have until 18 March of the same year to reach an out of court settlement. [23] [24]

MTN engages ex US attorney general

MTN has engaged the service of Mr. Eric Holder, a former US attorney general to intervene in the ongoing slam of $5.2bn fine on the telecommunications company, which was subsequently reduces to $3.2bn by the Nigerian government through NCC after much persuasion. He was hired by the MTN group because of his experience in corporate settlement. He served as US attorney general between the year 2009–2015. According to report by Financial Times Holder visited Abuja, the federal capital territory, Nigeria in January 2016 to meet with the official of NCC to challenge the fine. [25] [26]

FG sets condition for out-of-court settlement

The FGN through the minister of communication, Mr. Adebayo Shittu on 26 January 2016, gave conditions to be met by MTN before FGN can agree to out-of-court settlement of the litigation made against the government by the communication firm. The case remains in court as at this date( February 2016). The minister requested that the case can be settled as per MTN request only if the communication firm withdraw the case from court and also if the president, Muhammadu Buhari approves a new deal for settlement. The minister said "As far as we are concerned, there can be no out-of-court settlement except the case is withdrawn from the court so that the government will not be put under pressure. If the case is out of court and if they make further moves, Mr. President may graciously make a decision. But now, I am not aware of any out-of-court settlement talks.". [27] In another development, it was reported that the FGN is not ready to shift ground for the out-of-court settlement by MTN. The minister said "We are not aware of any out of court settlement on the issue. We will not accept out of court settlement until MTN willingly discontinue the case". [28]

MTN pays advance $250 million dollars

On 24 February 2016, MTN announced the payment of $250 million as an advance-payment towards a reduced settlement, yet to be finalised, of the imposed penalty by the FGN. MTN group, through their spokesperson, said, "Pursuant to the ongoing engagement with the Nigerian authorities, MTN Nigeria has today (yesterday), made an agreed payment of N50 billion ($250 million) to the Federal Government of Nigeria on the basis that this will be applied towards a settlement, where one is eventually, and hopefully, arrived at. In an effort to achieve an amicable settlement, MTN has agreed to withdraw the matter from the Federal High Court in Lagos. Phuthuma Nhleko in his capacity as executive chairman of MTN Group and a director of MTN Nigeria is continuing to lead the team engaging the Nigerian authorities with a view to settling the matter." [29] [30] [31] In the same development, the MTN Nigeria Chief Executive Office (CEO), Ferdi Moolman, said the firm has withdrawn the case in the federal high court in the intent to further deliberate on the settlement of the fine [32] [33]

Nigeria president speaks on MTN Fine

On 8 March 2016, President Mohammadu Buhari (PMB) hosted Jacob Zuma, the president of the South Africa Republic (RSA), on an official visit. During the visit, PMB noted that the negligence of MTN to follow the NCC mandate to de-register unapproved SIMs had aided the activities of terrorists in the country. He said "The concern of the Federal Government was basically on the security and not the fine imposed on MTN. “You know how the unregistered GSM (SIM cards) are being used by terrorists and between 2009 and today, at least 10,000 Nigerians were killed by Boko Haram, at least 10,000". [34]

MTN withdraws case suits against NCC and Nigeria

Chief Wole Olanipekun, the counsel to the telecommunication company, announced on Friday 18 March 2016 the withdrawal of suits instituted against NCC and the FGN contesting the fine slammed on it for its failure to disconnect unregistered SIMs from its network. [35]

MTN finalise payment plan with NCC

On 10 June 2016, MTN announced through its chief executive officer, Ferdi Moolman, that the sum of N300bn (less than $1 billion) had been accepted as the final settlement of the fine demanded by FG for not disconnecting unregistered lines from its network by the deadline giving by NCC to all MTOs in the country. The reduced fine must be paid within a period of three years. [36] The telecommunication company also promised to list its stock on the Nigeria Stock Exchange. According to Premium Times, Ferdi said that "MTN will pay the NCC the sum of N330 billion in full and final settlement of the fine in line with an agreed payment plan,". [37] In line with the agreement, the last tranche of the bill will be paid on 31 May 2019. [38] [39]

MTN paid first installment

The minister of communication in Nigeria, Adebayo Shittu, confirmed the payment of $254 million, the first tranche of the three-installments settlement plan. [40] The fine of $5.2 billion was reduced to $1.7 billion. According to africanews, "For the first year, they paid N80 billion, after paying the initial N50 billion, and they will have to pay for three years until they will complete the N330 billion". [41]

MTN pays additional 30 billion Naira

The telecommunication company recently paid additional 30 billion Naira to offset part of the initial fine of 330 billion Naira fined. [42]

Related Research Articles

Nigeria is Africa's largest ICT market, accounting for 82% of the continent's telecoms subscribers and 29% of internet usage. Globally, Nigeria ranks 11th in the absolute number of internet users and 7th in the absolute number of mobile phones.

<span class="mw-page-title-main">Prepaid mobile phone</span> "Pay-as-you-go" mobile phone service

A prepaid mobile device, also known as a, pay-as-you-go (PAYG), pay-as-you-talk, pay and go, go-phone, prepay or burner phone, is a mobile device such as a phone for which credit is purchased in advance of service use. The purchased credit is used to pay for telecommunications services at the point the service is accessed or consumed. If there is no credit, then access is denied by the cellular network or Intelligent Network. Users can top up their credit at any time using a variety of payment mechanisms.

<span class="mw-page-title-main">MTN Group</span> Multinational telecommunications company based in South Africa

MTN Group Limited is a South African multinational mobile telecommunications company, operating in many African and Asian countries. Its head office is in Johannesburg. As of December 2020, MTN recorded 280 million subscribers, making it the 8th largest mobile network operator in the world, and the largest in Africa. Active in over 20 countries, one-third of the company's revenue comes from Nigeria, where it holds about 35% market share.

<span class="mw-page-title-main">Odi massacre</span> The massacre of the Odi people in Ijaw, Nigeria

The Odi massacre was an attack carried out on November 20, 1999, by the Nigerian military on the predominantly Ijaw town of Odi in Bayelsa State. The attack came in the context of an ongoing conflict in the Niger Delta over indigenous rights to oil resources and environmental protection. It is estimated that over 900 civilians were killed in the attack.

<span class="mw-page-title-main">NNPC Limited</span> Oil corporation wholly owned by government of Nigeria

NNPC Limited is a for profit oil company in Nigeria. Formerly a government-owned corporation, it was transformed from a corporation to a limited liability company in July 2022. NNPC Limited is the only entity licensed to operate in the country's petroleum industry. It partners with foreign oil companies to exploit Nigeria's fossil fuel resources.

<span class="mw-page-title-main">Corruption in Nigeria</span> Institutional corruption in the country

Corruption is an anti-social attitude awarding improper privileges contrary to legal and moral norms and impairs the authorities' capacity to secure the welfare of all citizens. Corruption in Nigeria is a constant phenomenon. In 2012, Nigeria was estimated to have lost over $400 billion to corruption since its independence. In 2021, the country ranked 154th in the 180 countries listed in Transparency International's Corruption Index.

Lawal Jafaru Isa is a retired Nigerian Army Brigadier General, and was the Military Administrator of Kaduna State from December 1993 to August 1996 during the military regime of General Sani Abacha. In 1996, Isa created several chiefdoms for the southern Zaria or Kaduna people in order to improve peace in Kaduna State.

The civil and criminal proceedings stemming from the explosion of Deepwater Horizon and the resulting massive oil spill in the Gulf of Mexico began shortly after the April 20, 2010 incident and have continued since then. They have included an extensive claims settlement process for a guilty plea to criminal charges by BP, and an ongoing Clean Water Act lawsuit brought by the U.S. Department of Justice and other parties.

<span class="mw-page-title-main">MTN Uganda</span>

MTN Uganda is the largest telecom company in Uganda, with 11.2 million subscribers, accounting for 55 percent market share, as of 30 June 2017. By 31 December 2019, its customer base had increased to 12.6 million customers. In March 2021, the Uganda Communications Commission estimated the number of MTN customers in Uganda at 15 million, out of 28.3 million mobile network subscribers, thereby attaining a 53 percent market share.

<span class="mw-page-title-main">Airtel Africa</span> African subsidiary of Airtel, providing telecommunications and mobile money services

Airtel Africa plc, commonly known as (d/b/a) Airtel, is a multinational company that provides telecommunications and mobile money services in 14 countries in Africa, primarily in East, Central and West Africa. Airtel Africa is majority owned by the Indian telecommunications company Bharti Airtel. Airtel Africa offers mobile voice and data services as well as mobile money services both nationally and internationally. Airtel Nigeria is the most profitable unit of Airtel Africa, due to its cheap data plans in Nigeria. As of March 2019, Airtel had over 99 million subscribers in the continent. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

Ahmed Idris is a Nigerian financial accountant and incumbent accountant general of Nigeria. He was appointed accountant general on 25 June 2015, to succeed Jonah Ogunniyi Otunla who was sacked by president Muhammadu Buhari on allegedly misappropriating N2.5 billion of security agencies’ funds. Idris was re-appointed accountant general after Buhari won a second term in 2019.

IHS Towers is one of the largest telecommunications infrastructure providers in Africa, Latin America and the Middle East by tower count and the fourth largest independent multinational tower company globally.

Treasury Single Account (TSA) is a financial policy in use in several countries all over the world. It was proposed by the federal government of Nigeria in 2012 under the Jonathan Administration and was fully implemented by the Buhari Administration. to consolidate all inflows from all agencies of government into a single account at the Central Bank of Nigeria.

<span class="mw-page-title-main">Abubakar Malami</span> Nigerian politician and lawyer (born 1967)

Abubakar MalamiSAN, is a Nigerian lawyer and politician who since 2015 is serving as Minister for Justice and Attorney-General of the Federation.

<span class="mw-page-title-main">Airtel Uganda</span>

Airtel Uganda Limited is a mobile communications and information technology services provider in Uganda. The company also offers mobile funds transfer and banking services known as Airtel Payments Bank. Airtel Uganda Limited is a subsidiary of Airtel Africa PLC.

Ben Akabueze is a Nigerian Chartered Accountant and the current Director General of the Budget office for the Federal Republic of Nigeria. He served as the CEO of NAL Bank Plc and was two terms Commissioner for Economic Planning and Budget with the Lagos State Government.

<span class="mw-page-title-main">Ireland v Commission</span> Tax dispute involving Apple, Ireland, and the EU

On 29 August 2016, after a two-year investigation, Margrethe Vestager of the European Commission announced: "Ireland granted illegal tax benefits to Apple". The Commission ordered Apple to pay €13 billion, plus interest, in unpaid Irish taxes from 2004–14 to the Irish state. It was the largest corporate tax "fine" in history. On 7 September 2016, the Irish State secured a majority in Dáil Éireann to reject payment of the back-taxes, which including penalties could reach €20 billion, or 10% of 2014 Irish GDP. In November 2016, the Irish government formally appealed the ruling, claiming there was no violation of Irish tax law, and that the commission's action was "an intrusion into Irish sovereignty", as national tax policy is excluded from EU treaties. In November 2016, Apple CEO Tim Cook, announced Apple would appeal, and in September 2018, Apple lodged €13 billion to an escrow account, pending appeal. In July 2020, the European General Court struck down EU tax decision as illegal, ruling in favor of Apple.

<span class="mw-page-title-main">Airtel Networks Limited</span> Telecommunications company in Nigeria

Airtel Networks Limited , commonly known as Airtel, is a leading mobile network operator in Nigeria. According to the Subscribers statistics released by Nigerian Communications Commission (NCC) on 30 August 2019, Airtel Nigeria has 26.8% mobile telephone market share and 46.8 million subscribers. The company is a subsidiary of Airtel Africa, the holding firm for Bharti Airtel's operations in 14 countries in Africa.

Anti-social Media Bill was introduced by the Senate of the Federal Republic of Nigeria on 5 November 2019 to criminalise the use of the social media in peddling false or malicious information. The original title of the bill is Protection from Internet Falsehood and Manipulations Bill 2019. It was sponsored by Senator Mohammed Sani Musa from the largely conservative northern Nigeria. After the bill passed second reading on the floor of the Nigeria Senate and its details were made public, information emerged on the social media accusing the sponsor of the bill of plagiarising a similar law in Singapore which is at the bottom of global ranking in the freedom of speech and of the press. But the senator denied that he plagiarised Singaporean law.

The use of Unstructured Supplementary Service Data (USSD) for financial transactions such as funds transfer, checking account balance and mobile airtime top-up from private bank accounts gained wide usage in Nigeria in 2015. The USSD services is widely promoted by commercial banks to optimize their financial services to customers and generate more revenue. But there was no agreement between telecommunications service providers and commercial banks as to who would offset USSD service charges.

References

  1. ↑ Adeyemi Adepetun. "MTN in talks with NCC over N1.04tr fine on telecoms firm". Guardian Newspaper. Retrieved 27 December 2015.
  2. ↑ "MTN CEO Dabengwa Resigns After $5.2bn Nigeria Fine". Thisday Live. Retrieved 28 December 2015.[ permanent dead link ]
  3. ↑ Tonye Bakare. "MTN Nigeria CEO resigns as FG slashes fine to N674b". Guardian Newspaper. Retrieved 27 December 2015.
  4. ↑ Emma Okonji. "MTN Shares Plummet for Second Day on NCC Fine". THIS DAY LIVE. Archived from the original on 30 October 2015. Retrieved 26 December 2015.
  5. ↑ "MTN seeks to reduce $5.2bn Nigerian fine". bbc news. Retrieved 27 December 2015.
  6. ↑ Adeyemi Adepetun. "MTN claims N10b expenses on SIM registration". Guardian Newspaper. Retrieved 27 December 2015.
  7. 1 2 Wale Odunsi. "MTN: NCC gives full explanation on N1trn fine, sets Friday deadline". Daily Post. Retrieved 28 December 2015.
  8. ↑ "How Big And Rich MTN Walked The Outlaw Path Into $5.2bn Fine in Nigeria". Sahara Reporter. Retrieved 27 December 2015.
  9. ↑ Adeyemi Adepetun. "MTN gets deadline to pay N1.04 trillion fine". Guardian Newspaper. Retrieved 27 December 2015.
  10. ↑ "Nigeria extends MTN's $5.2bn fine payment". Guardian Newspaper. Retrieved 28 December 2015.
  11. ↑ Adeyemi Adepetun, Chijioke Nelson. "$5.2b fine: MTN's CEO quits". Guardian Newspaper. Retrieved 28 December 2015.
  12. ↑ "Zuma, Buhari said to meet over MTN". Technical Central. Retrieved 29 December 2015.
  13. ↑ Muyiwa Tijani. "NCC reduces MTN's N1.04trn fine to N674bn". The Cable. Retrieved 29 December 2015.
  14. ↑ Ebriku John Friday. "PMB, Zuma To Meet Over MTN's N1.04trn Fine". Leadership.
  15. ↑ Bassey Udo. "Nigerians sue NCC for reducing MTN's N1.04 trn fine". Premium times. Retrieved 2 February 2016.
  16. ↑ Emma Okonji. "MTN Heads to Court over $3.9bn Fine". Thisday live. Archived from the original on 21 December 2015. Retrieved 28 December 2015.
  17. ↑ Emma Okonkji. "Lawyer Calls for Caution over NCC's N1.04trn Fine of MTN". Thisday Live. Archived from the original on 31 October 2015. Retrieved 28 December 2015.
  18. ↑ Lisa Steyn. "JSE suspends trade of MTN stocks". Mail&Guardian. Retrieved 28 December 2015.
  19. ↑ Alexis Akwagyiram. "Nigeria's Governors Back Telecom Regulator's USD 5.2 Billion MTN Fine". Telecoms and Networking Communication Today. Archived from the original on 3 March 2016. Retrieved 1 January 2015.
  20. ↑ "MTN held to fine-payment deadline in Nigeria". eNCA. Retrieved 1 January 2015.
  21. ↑ Emma Okonji. "MTN Fine: NCC Says Today's Deadline Remains". Thisday live. Archived from the original on 5 January 2016. Retrieved 2 January 2016.
  22. ↑ Ramon Oladimeji. "N1tn fine: Court rejects application to seize MTN's funds". Punch. Archived from the original on 5 February 2016. Retrieved 13 January 2016.
  23. ↑ Feng, Jun. "Telecoms: Shares jump as South Africa's MTN aims to settle Nigerian fine out of court | West Africa". www.theafricareport.com. Retrieved 25 January 2016.
  24. ↑ "MTN Gets Two Months Extension To Pay NCC Fine". LEADERSHIP. Retrieved 2 February 2016.
  25. ↑ William Wals & Andrew England. "MTN hires ex-US attorney-general Eric Holder to fight $3.9bn fine". Financial Times. Retrieved 4 February 2016.
  26. ↑ Daniel Ogbeche. "$3.9b fine: MTN hires ex-U.S attorney general to challenge NCC". Daily post. Retrieved 4 February 2016.
  27. ↑ Everest Amaefule. "FG gives conditions for out-of-court settlement with MTN". The Punch News. Archived from the original on 16 February 2016. Retrieved 9 February 2016.
  28. ↑ "3.4bn fine we'll not accept mtns out of court settlement offer-FG". Givenbiznews. Retrieved 9 February 2016.
  29. ↑ The Leadership. "$3.4bn Fine: MTN Pays Initial $250m, Withdraws Court Case". Chima Akwaja. Retrieved 25 February 2016.
  30. ↑ "3.9bn fine MTN pays 250m to Nigeria withdraws suit". The News. Retrieved 25 February 2016.
  31. ↑ "mtn pays nigeria 250m to further fine talk". Financial Times. Retrieved 25 February 2016.
  32. ↑ "MTN drops lawsuit against Nigeria, pays $250m toward possible settlement". The Prime News. Retrieved 25 February 2016.
  33. ↑ "MTN drops lawsuit against Nigeria, pays $250m toward possible settlement". The Vanguard. Retrieved 25 February 2016.
  34. ↑ Olalekan Adetayo. "$5.2bn fine: MTN's inaction aided Boko Haram, says Buhari". The Punch news paper. Retrieved 11 March 2016.
  35. ↑ Ramon Oladimeji. "N1.04tn fine: MTN withdraws suit against NCC, AGF". The Punch. Retrieved 20 March 2016.
  36. ↑ Kunle Aderinokun. "Why MTN Will Rebound after N330 Billion Fine". This Day. Retrieved 13 June 2016.
  37. ↑ Bassey Edo. "N1.04 trillion Fine: MTN announces final agreement with Nigeria". Premium Times. Retrieved 13 June 2016.
  38. ↑ Prince Osuagwu,Johnbosco Agbakwuru & Emmannuel Elebeke. "N1.04trn fine: FG reduces MTN fine, agrees staggered payment option". Vanguard. Retrieved 13 June 2016.
  39. ↑ "BREAKING: MTN agrees to pay $1.7bn fine". Punch. Retrieved 13 June 2016.
  40. ↑ Samson, Omale. "MTN makes first payment of $254m in Nigeria fine". Eye Witness News. Retrieved 27 December 2016.
  41. ↑ "MTN Resolves Nigerian Phone Dispute With $1.7 Billion Deal". Bloomberg.com. 10 June 2016.
  42. ↑ Odunsi, Wale. "MTN pays additional N30bn fine to Nigerian government". Daily Post. Retrieved 26 April 2017.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.