MTN pays NGN30bn towards Nigerian fine settlement

3 Apr 2017

MTN Group has paid an additional NGN30 billion towards the settlement of a NGN330 billion (USD1.0 billion) fine handed to its Nigerian unit for failing to disconnect around 5.1 million unregistered subscribers. Reuters reports that the latest instalment follows the NGN80 billion payment made by the South African telecoms group last year; the fine is due to be paid in six instalments over three years, with the final NGN55 billion due on 31 May 2019.

As previously reported by TeleGeography’s CommsUpdate, MTN Nigeria, the country’s largest cellco by subscribers, was initially fined a total of NGN1.04 trillion in October 2015 for failing to disconnect around 5.1 million incompletely registered subscribers. Although the total was cut to NGN780 billion in December, MTN launched legal action against the fine later that month, before withdrawing its lawsuit in February 2016 and later agreeing to pay the federal government a total of NGN330 billion over three years, as well as list its shares on the Nigeria Stock Exchange (NSE).

Nigeria, MTN Group, MTN Nigeria