MTN Gets Fined By Nigerian Govt., Pays N80bn out of N330bn

The Telecommunication giant, MTN, has paid N80 billion of the N330 billion fine forced on it by the Nigerian government for neglecting to deactivate more than five million unregistered SIM cards.

Nigeria's Minister of Communications, Adebayo Shittu, revealed this at the News Agency of Nigeria, NAN, Forum in Abuja.

He said the installment was for this first year and is the principal tranche of the aggregate installment.

MTN, Nigeria's biggest versatile administrator, was at first fined 5.2 billion dollars (N1.04 trillion) for neglecting to deactivate more than five million unregistered SIM cards.

The fine on the South Africa-claimed organization was later diminished to N330 billion.

"For the primary year, they paid N80 billion, in the wake of paying the underlying N50 billion, and they should pay for a long time until they will finish the N330 billion.

"MTN does not have a decision, when the law was made, it said for each unregistered SIM card being used, the fine is N200, 000, the law never expected that one organization will be in infringement to the tune of a huge number of lines.

"It was unfathomable, so when the thing was included 200,000 circumstances 5.2 million lines, it went to a trillion or more.

"When it happened, the MTN did four things; one they acknowledged that they were in default, two, they apologized for that and three they conferred themselves never to permit a wonder such as this to happen and number four, they requested abatement.

"Government needed to take a gander at various elements in light of the fact that in the event that they need to pay this sum; they will pack up.

"We likewise realized that we welcomed the worldwide group to come and contribute and anything that will be done which will shake the certainty of universal financial specialists in Nigerian economy, we should maintain a strategic distance from it.

The lessening of the fine was at first sentenced by Nigerians prompting to an enquiry by the Nigerian parliament.

Mr. Shittu, in any case, adhered to his weapons, demanding the administration acted ideal in the arrangement.

"We should not discard the infant with the shower water. On the off chance that they had pressed up and left, let us expect all their staff are not more than 5,000, it implies those 5,000 will lose their occupations," he said on Monday.

"Likewise the individuals who made venture, who purchased shares will lose their shares and the Nigeria keeping money part would go into emergency."

The clergyman said that even in the court framework, on the off chance that one was fined and couldn't pay for one reason or the other, the individual would request reevaluation either by method for advance or bringing a movement.

I just hope mtn does not collect back the money from its users.

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