Martedì, 23 Febbraio 2016 15:40

Fin24.com | MTN in R3.8bn ‘good faith payment’ to Nigeria

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MTN has received a $5.2bn fine in its biggest market Nigeria. (Bloomberg)

Johannesburg - Africa’s biggest mobile network MTN has paid $250m (R3.8bn) to Nigeria’s federal government in light of a multi-billion dollar fine.

Last year, the Nigerian Communications Commission (NCC) fined MTN $3.9bn for failing to disconnect 5.2 million unregistered subscribers in a timely manner.

MTN subsequently challenged the fine in a Lagos court. However, that court adjourned MTN’s legal challenge to March 18 to give the parties a chance to settle the matter.

“Pursuant to the ongoing engagement with the Nigerian Authorities, MTN Nigeria has today made an agreed without prejudice good faith payment of 50 billion naira (US$250m) to the Federal Government of Nigeria on the basis that this will be applied towards a settlement, where one is eventually, hopefully arrived at,” said MTN.

“In an effort to achieve an amicable settlement, MTN has agreed to withdraw the matter from the Federal High Court in Lagos,” said the company.

MTN added that executive chairman of the group Phuthuma Nhleko and his team are still engaging Nigerian Authorities with “a view to settling the matter”.

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