MTN Pays N30 Billion Fine To Nigeria Government
South African telecommunication giant, MTN has just made a new payment of N30 billion which is about $98 million to the Nigeria government as part of its fine which was imposed on the company by the government via the Nigerian Communications Commission (NCC).
This is the latest instalment being paid in the N330 billion fine which was slammed on MTN for their refusal to disconnect unregistered SIM cards after a directive by the government.
This brings the amount paid by MTN to a total of N80billion as reported by a source who confirmed to international news agency Reuters.
A deal which was cut by the company made it so that they could pay the heavy fine in six installments over 3 years which included the company listing its subsidiary on the Nigerian Stock Exchange.
MTN was originally fined $5.2 billion after they failed to disconnect over five million unregistered SIM cards during the height of the war against insurgency as they were adjudged to have contributed to the security lapse in the country seeing that the insurgents used unregistered lines to communicate.