Telecom giants, MTN Group, and the Nigerian government have arrived at an agreement after six months of negotiations.

The Nigerian Communications COmmission, NCC, had fined MTN $5.2bn in 2015 for failing to disconnect unregistered numbers on its network. A lot has happened since then and on Friday both parties made some agreements over the issue. The agreements are:

1. that MTN will pay N330bn to the Nigerian government in fines. This amount includes the “goodwill” payment of N50Billion earlier made by MTN to the government.

2. that MTN will tender an apology in line with the apology previously tendered in correspondences relating to this matter to the Government of Nigeria and Nigerians within the one month of the execution of this Agreement;

3. that MTN will subscribe to the voluntary observance of the Code of Corporate Governance for the Telecoms Industry and would ensure compulsory compliance when the said Code is made mandatory for the telecommunications industry; and

4. that MTN will undertake immediate steps to ensure the listing of its shares on the Nigerian Stock Exchange as soon as commercially and legally possible after the date of execution of this Settlement Agreement.


The agreement and resolutions were signed by Executive Vice Chairman (EVC) of NCC, Prof. Umar G. Danbatta, NCC Commission Secretary, Mr. Felix Adeoye, Chief Executive of MTN, Fredinand (Fredi) Moolman and MTN’s Company Secretary, Mrs. Uto Ukpanah, and witnessed by Mr. Tony Ojobo, NCC, Director, Public Affairs; Mr. Usman Malah, Chief of Staff to the EVC, NCC; Ms Helen Obi, Assistant Director, Legal, NCC and Ms. Amina Oyagbola, Corporate Executive, MTN.