MTN
has made an additional payment of N30 billion ($98 million) to the Nigerian
government.
has made an additional payment of N30 billion ($98 million) to the Nigerian
government.
The
money is part of a N330 billion fine imposed on the telecoms group for not
disconnecting unregistered SIM cards.
money is part of a N330 billion fine imposed on the telecoms group for not
disconnecting unregistered SIM cards.
Africa’s
largest telecoms company has already paid N80billion of the total fine, said a
source who confirmed the latest payment to Reuters on Thursday.
largest telecoms company has already paid N80billion of the total fine, said a
source who confirmed the latest payment to Reuters on Thursday.
The
heavy fine is due for payment in six instalments over three years.
heavy 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.
Nigeria was originally fined $5.2 billion last October for failing to
deactivate more than five million unregistered SIM cards.
The
fine was reduced in a settlement that paved the way for MTN to list its
subsidiary on the Nigerian Stock Exchange.
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.
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.
which operates in 20 countries, had set aside $600 million last year to pay the
fine.
