MTN has made a payment of N30 billion ($98 million) to the Nigerian government in part settlement of a N330 billion fine imposed on the telecoms group for not disconnecting unregistered SIM cards, an MTN source told Reuters on Thursday.
Africa’s largest telecoms company has already paid N80 billion of the total amount owed, the source said.
The fine is due for payment in six instalments over three years, MTN has said.
MTN Nigeria was originally fined $5.2 billion last October for failing to deactivate more than five million unregistered SIM cards, but the fine was reduced in a settlement that paved the way for MTN to list its subsidiary on the Nigerian Stock Exchange.
Nigeria has been cracking down on unregistered SIM cards, concerned that they are used for criminal activity in a country fighting an insurgency by Islamist militant group Boko Haram.
MTN, which operates in 20 countries, had set aside $600 million last year to pay the fine.
Alimosho Local Government will be the center of attention for Ndigbo in Lagos as the…
The Abuja Investment Company Limited (AICL) has reinforced its commitment to youth entrepreneurship and innovation…
Guinness Nigeria Plc has announced its unaudited financial results for the quarter ended 30 June…
The political crisis brewing within the Accord Party in Osun State deepened on Tuesday as…
Guaranty Trust Holding Company Plc, GTCO, has announced full plans for its 16th Annual Autism…
For every young footballer who laces up a pair of boots in search of a…