82 Views

See Why MTN Pays R3,9bn Towards R60,6bn Nigerian Fine

In a statement released on Wednesday, MTN announced that it’s paid a large part of their R60,6 biliion fine to the Nigerian government.

MTN has confirmed that it’s paid $250 million (R3,9 billion) towards the hefty $3,9bn (R60,6 bn) penalty that was imposed on them by the Nigerian government in 2015 after the telecommunications company failed to disconnect users, reports

“Pursuant to the ongoing engagement with the Nigerian authorities, MTN Nigeria has today made a good-faith payment of 50 billion naira. [The money was paid] on the basis that this will be applied towards a settlement, where one is eventually, hopefully arrived at,” MTN said in a statement.

Nigeria has a population of more than 200 million, making it Africa’s most populated country, and is MTN’s biggest market. In Nigeria, MTN had more than 62,8 million subscribers by the second quarter of 2015.

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

Initially, the fine was for $5,2bn (R80,7bn), but following an appeal by MTN it was later reduced to $3,9bn. This also lead to the resignation of Sifiso Dabengwa, who at the time was CEO of the group, as well as the stepping down of Nigerian executives.

ALSO READ  Check Out The Leading Network In New Internet Subscriber Acquisition

The initial fine exceeded the telecommunications company’s total sales in Nigeria in 2014 – it was equal to almost 37% of the group’s total revenue.

“I’m sure before the week runs out, if we’re able to confirm that MTN has paid a particular sum of money, the next step will be to look at what was paid vis-à-vis what’s expected of them to pay as per the fine,” Victor Oluwadamilare, Nigeria’s communications ministry spokesperson, told AFP.

He also added that MTN was finally coming to terms with the reality of the fine and that they were probably tired of being in court. He also said they cannot yet confirm that MTN has made the payment they say they have.

“And of course, if what MTN paid falls short of what’s expected of them, the government will come up with a detailed reaction in the best interest of Nigeria,” he said.

source: destinyconnect

Get the best viral stories straight into your inbox!

Don't worry, we don't spam

Leave a Comment

Your email address will not be published.

Latest Posts

How I Fainted After Being Robbed By Okada Man In Lagos; Lady Narrates. [Photos]
Shocking
11 views
Shocking
11 views

How I Fainted After Being Robbed By Okada Man In Lagos; Lady Narrates. [Photos]

MT - January 20, 2018

A lady identified as Amarachi Azubuike, has recounted her horrific ordeal at the hands of a motorcyclist a.k.a Okada man who robbed her and threatened to rape…

Singer Simi Plays Chief Bridesmaid Role As Her Mum Remarries
Entertainment
20 views
Entertainment
20 views

Singer Simi Plays Chief Bridesmaid Role As Her Mum Remarries

MT - January 20, 2018

Early this year, there was a viral report that Ms. Jedidiah Ogunleye 'Love don't care' crooner,  Simi's mum will be getting married this January. Ms. Jedidiah Ogunleye and her…

Davido Buys iPhone For Friends To Celebrate The Release Of Umarudeen Kayode
Entertainment
39 views
Entertainment
39 views

Davido Buys iPhone For Friends To Celebrate The Release Of Umarudeen Kayode

MT - January 20, 2018

Dmw Boss Davido puts smile on alot of his crew member and friends Face by even going far to get them an iphone X just to celebrate…

Anti-open Grazing: Why APC Governors Are Begging Ortom To Reverse The Law
Politics
39 views
Politics
39 views

Anti-open Grazing: Why APC Governors Are Begging Ortom To Reverse The Law

MT - January 20, 2018

Governor Samuel Ortom of Benue State is under intense pressure to prevail on the state assembly to repeal the antigrazing law, which had become a sore point…

What Could President Buhari Have Told This APC Chieftain That Got Him This Way? (Photo)
Politics
38 views
Politics
38 views

What Could President Buhari Have Told This APC Chieftain That Got Him This Way? (Photo)

MT - January 20, 2018

President Muhammadu Buhari had this man laughing during the dinner hosted for APC Party Chieftains in State House yesterday.

Photos Of American-Nigerian Rapper, Jidenna Smoking Heavily
Entertainment
33 views
Entertainment
33 views

Photos Of American-Nigerian Rapper, Jidenna Smoking Heavily

MT - January 20, 2018

Caption This Adorable photo of Jidenna smoking Heavily Any caption?

Yewande Adekoya Celebrates Her 35th Birthday With Makeup Photos
Entertainment
37 views
Entertainment
37 views

Yewande Adekoya Celebrates Her 35th Birthday With Makeup Photos

MT - January 20, 2018

Actress Yewande Adekoya Stuns In New Makeup photos As She Celebrates 35yrs birthday Today. Yewande Adekoya (born 20 January 1983), is a Nigerian actress, filmmaker, director and…

Why Your Smartphone Can Make Emergency Calls Without A SIM Card
Technology
34 views
Technology
34 views

Why Your Smartphone Can Make Emergency Calls Without A SIM Card

MT - January 20, 2018

If you're an active mobile phone user, you will notice that your phone can actually make emergency calls without any SIM. I know you must be wondering…

PHOTOS: Inside Jubilee Syringe Manufacturing Factory In Onna, Akwa Ibom
Best of Nigeria
29 views
Best of Nigeria
29 views

PHOTOS: Inside Jubilee Syringe Manufacturing Factory In Onna, Akwa Ibom

MT - January 20, 2018

Today the Honourable Commissioner for Information and Strategy Mr. Charles Udoh led print, online and broadcast media professionals to see some of the achievements recorded in the…

World: Cristiano Ronaldo’s Girlfriend Enjoys Playtime With The Twins And Newborn Baby
Sports
34 views
Sports
34 views

World: Cristiano Ronaldo’s Girlfriend Enjoys Playtime With The Twins And Newborn Baby

MT - January 20, 2018

Cristiano Ronaldo’s girlfriend Georgina Rodriguez has shared a sweet snap of herself with twins Maria and Mateo and newborn daughter Alana Martina. Despite having her hands full…

I Spoke To Arsene Wenger About Iwobi’s Punishment After Misconduct- Super Eagles Coach
Sports
50 views
Sports
50 views

I Spoke To Arsene Wenger About Iwobi’s Punishment After Misconduct- Super Eagles Coach

MT - January 20, 2018

Super Eagles coach, Gernot Rohr, has revealed that he reached out to Arsenal boss Arsene Wenger over Alex Iwobi’s disciplinary issues earlier this month. Iwobi attended a…

My Experience At Port Harcourt Maximum Prison – Kemi Olunloyo
Entertainment
46 views
Entertainment
46 views

My Experience At Port Harcourt Maximum Prison – Kemi Olunloyo

MT - January 20, 2018

No one ever prays to go to prison; however, for the popular blogger, Kemi Olunloyo, 2017 is a year that she would likely not forget in a…

13 Steps To Help You Bounce Back From Betrayal
How Tos
35 views
How Tos
35 views

13 Steps To Help You Bounce Back From Betrayal

PH - January 20, 2018

  We suffer quietly through disloyalty from a partner, friend, or family member, but this embeds harmful emotions deeply into our being. Our trust in others erodes…

Residents of Ipoyewa community Laments 15yrs Blackout
General
36 views
General
36 views

Residents of Ipoyewa community Laments 15yrs Blackout

PH - January 20, 2018

Residents of Ipoyewa Phase 3, Adamo, Ikorodu area  of Lagos State have cried out to Governor Akinwunmi Ambode to come and rescue them from total darkness. The…

Friends Of TY Bello’s Throws Her Suprise Brunch To Mark Her 40th Birthday (Video)
Buzz & Trends
48 views
Buzz & Trends
48 views

Friends Of TY Bello’s Throws Her Suprise Brunch To Mark Her 40th Birthday (Video)

PH - January 20, 2018

Nigerian singer, songwriter and photographer, Toyin Sokefun-Bello, better known as TY Bello turned 40 last Sunday, January 14, 2018, and she was surprised by family and friends to…

2yrs After Partial Stroke, Nollywood Actress Iyabo Oko Returns From India
Buzz & Trends
55 views
Buzz & Trends
55 views

2yrs After Partial Stroke, Nollywood Actress Iyabo Oko Returns From India

PH - January 20, 2018

Veteran Yoruba actress, Kudirat Odukanmi Eluyemi otherwise known as Iyabo Oko has finally returned to Nigeria 2 years after she was diagnosed with partial stroke and flown abroad by her eldest son…

Zainab Balogun Wants Her Future Husband To Know This
Entertainment
56 views
Entertainment
56 views

Zainab Balogun Wants Her Future Husband To Know This

PH - January 20, 2018

Zainab Balogun who relocated to Nigeria six years ago, says she doesn’t understand if something is wrong with Lagos men. Nollywood actress, Zainab Balogun who was born…

BBNaija Winner Efe And Olamide Shoot Music Video For Warri (Photos)
Entertainment
39 views
Entertainment
39 views

BBNaija Winner Efe And Olamide Shoot Music Video For Warri (Photos)

MT - January 20, 2018

Big Brother Naija 2017 winner, Michael Ejeba aka Efe and top rapper, Olamide aka Baddo, have shot the music video for the collaboration titled, `Warri,’ which was…

Loading...