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Market Digest Nigeria

Business

MTN Remits Another N30b To FG

Another N30 billion has been paid by MTN Nigeria to the Nigerian government as part of the N330 billion fine imposed on its for failing to disconnect unregistered subscribers on its network.

This information was disclosed by Reuters, which quoted a source at the telecommunications company.

MTN agreed to pay the fine, which was initially N1.04 trillion, in six instalments over the period of three years.

Already, the firm has paid N80 billion.

In early 2017, MTN disclosed that it recorded a loss for the first time in many years due to the fine by the Nigerian government.

Few years ago, the Nigerian government, through the Nigerian Communications Commission (NCC) directed operators in the country to register SIM cards of its subscribers and deactivate unregistered ones.

This was done to tackle security issues it was battling with then though the use of unregistered SIM cards.

But MTN was found wanting in this and the commission wielded its big stick on the firm.

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