MTN Nigeria Offers To Settle Row With $1.5bn

MTNThe South African telecoms giant, Mobile Telecommunication Network (MTN), has proposed a slash of the $5.2billion fine imposed on it by Nigerian authorities to $1.5 billion . . .

The fine was imposed last year by the telecom regulator, Nigerian Communications Commission (NCC) after MTN failed to to meet the deadline to deregister 5.1 million improperly registered SIM cards on its network.

The fine was cut down to $3.9billion after the firm entered into negotiations with government, but as the deadline to pay up approached, it filed a suit to contest NCC’s powers to fine it.

Last week, however, MTN withdrew the matter from court and paid an initial N50billion, and is now requesting that the overall fine be further reduced to $1.5billion, about N300billion.

MBR

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MTN Nigeria Offers To Settle Row With $1.5bn