Wednesday 24 February 2016

MTN Agrees to Pay $251 Million Toward Record Nigeria Penalty

MTN Group Ltd. agreed to pay 50 billion naira ($251 million) toward a record $3.9 billion fine in Nigeria for missing a deadline to disconnect unregistered subscribers.

The payment to the Nigerian government was made “on the basis that this will be applied towards a settlement, where one is eventually, hopefully arrived at,” the Johannesburg-based company said in a statement on Wednesday.

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