Nigeria reduces mtn fine from n1 04tr to n330b says action in good faith

It appears that there has been a development in the long-standing dispute between the Nigerian government and MTN, a South African telecommunications company.

According to reports, the Nigerian government has reduced the fine imposed on MTN from N1.04 trillion to N330 billion. This decision was made in "good faith" and is seen as a positive step towards resolving the dispute.

For context, the dispute began in 2015 when MTN failed to disconnect over 5 million unregistered SIM cards in Nigeria, as required by the Nigerian Communications Commission (NCC). The NCC subsequently imposed a fine of N1.04 trillion on MTN, which was seen as one of the largest fines ever imposed on a company in Nigeria.

The reduction of the fine to N330 billion is a significant development, and it suggests that the Nigerian government is willing to work with MTN to resolve the issue. The exact terms of the agreement are not yet clear, but it is likely that MTN will need to pay the reduced fine and take steps to comply with Nigerian regulations.

It's worth noting that the dispute between MTN and the Nigerian government has had significant implications for both parties. MTN has faced significant financial losses and reputational damage, while the Nigerian government has been criticized for its handling of the dispute.

Overall, the reduction of the fine is a positive development that suggests that both parties are willing to work together to resolve the dispute. However, the exact terms of the agreement and the implications for both parties remain to be seen.