– Telecommunication giant, MTN has paid another N30bn to the federal government’s covers
– The payment was made in a part settlement of N330bn imposed on it by the NCC
– The fine was imposed on the telcom operator for its failure to disconnect unregistered SIM cards as mandated by the NCC
MTN 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, an MTN source told Reuters on Thursday March 30.
Minister of Communications, Adebayo Shittu
ZENITHBLOG.com gathered that the Africa’s largest telecoms company has already paid 80 billion naira of the total amount owed.
READ ALSO: How Buhari’s intervention saved MTN from bankruptcy
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.
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MTN, which operates in 20 countries, had set aside $600 million last year to pay the fine.
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