MTN Pays 30 Billion Naira In Part Settlement Of Fg’s Fine


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

According to Reuters news agency reports, an MTN source revealed on Thursdayf that the Arica’s most significant telecommunications company has already paid 80 billion naira of the total amount due.

The fine is scheduled for payment in 6 instalments over 3 years.

MTN Nigeria was formerly fined $5. 2 billion previous October for failing to deactivate more than five million unregistered SIM playing cards, but the fine was reduced in an arrangement that paved the way for MTN to list its subsidiary on the Nigerian Stock Exchange.

Nigeria has been cracking after unregistered SIM cards, worried that they are being used for criminal activity in a rustic fighting an insurgency by Islamist militant group Boko Haram.

MTN, which are operating in 20 countries, had put aside $600 million last year to pay the fine. ($1 = 305. 45 naira)

Author: Editorial Staff

This science and Technology Review Site is owned and managed by a Pro ICT consultant |Johnson Ofonimeh |. For personal assistance,guidance and professional advice,dont hesitate to Contact Us | Follow me on Twitter | Instagram | Facebook

Leave a Reply