MTN Nigeria Pays N30 Billion To Federal Government

MTN has made a payment of N30 billion ($98 million) to the Nigerian government in part settlement of an N330 billion fine imposed on the telecoms group for not disconnecting unregistered SIM cards, an MTN source told Reuters on Thursday. Africa’s largest telecoms company has already paid 80 billion nairas of the total amount owed,…

MTN to divest from Nigeria, moves to offload 40% equities

A major GSM operator, MTN Nigeria is on the verge of reducing its investment stock in the country. The company’s headquarters in South African has confided that it had approached the Nigerian Stock Exchange (NSE), through the Securities and Exchange Commission (SEC) for a window to off load some of its equity holdings in Nigeria…