MTN Pays 30Bn Part Settlement of FG-NCC Fine

MTN Nigeria has made a payment of 30 billion Naira ($98 million) to the Nigerian government in part settlement of a 330 billion naira fine imposed on the telecoms group for not disconnecting unregistered SIM cards.

According to Reuters reports, an MTN source revealed on Thursday that the Arica’s largest telecoms company has already paid 80 billion naira of the total amount owed.

The fine is due for payment in six instalments over three years.

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.

Aderemisblog

Remie is a Publicist, Brand Promoter, Social Media Blogger and Influencer, Analyst and Editor-in-Chief at aderemisblog.com.ng.E-mail him at olumide@aderemisblog.com.ng

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