MTN Nigeria pays N55 billion SIM infraction fine balance

As of March 2017, the company had already paid a total of N110 billion
MTN Nigeria
Chief executive of MTN Nigeria, Ferdi Moolman, speaks during the ceremony marking the listing MTN shares on the Nigerian Stock Exchange, on May 16, 2019, in Lagos. – Africa’s largest mobile phone operator, MTN, listed shares on the Nigerian Stock Exchange (NSE) in a $6 billion flotation reflecting its increasing presence in the Nigerian market, its largest. (Photo by PIUS UTOMI EKPEI / AFP)

MTN Nigeria has paid a N55 billion naira, SIM infraction fine balance imposed on the company by the Nigerian Government.

Officials at the Nigerian Communications Commission issued a payment receipt to MTN – the sixth tranche of the N330 billion fine.

A N1.04 trillion  fine was imposed on the network provider by the telecoms regulator in 2015 following a missed deadline to disconnect 5.1 million unregistered lines amid a growing security threat in the country.

The fine was reduced to N780 billion in December 2015, with another revision in June 2016 to N330 billion with its payment spread over three years.

As of March 2017, the company had already paid a total of  N110 billion of the entire fine.

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One of the outcomes of the negotiation was the company’s listing on the Nigerian Stock Exchange, which was achieved as the company listed 20.35 billion shares at 90 naira per share on the NSE on May 16.

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