$5.2b Fine: MTN Pays Another N30b To Nigeria
MTN has reportedly paid N30 billion to the Nigerian government as part of the N330 billion fine imposed on the telecom giant for failing to disconnect unregistered SIM cards, a company source told Reuters on Thursday.
According to the MTN source, the South African firm has already paid 80 billion naira of the total amount owed to Nigeria.
MTN agreed with the Nigerian government last year that the fine will be paid in six instalments over three years.
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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.
The Nigerian authorities have been working on deactivating unregistered sim card, which according to them is being used for criminal activity.
