Nigeria receives huge credit alert from MTN …

Nigeria receives huge credit alert from MTN …

It looks like MTN will help Nigeria close its budget funding gaps!

According to Nigeria’s Minister of Communications, Adebayo Shittu, MTN has paid N80 billion of the N330 billion fine imposed on it by the Nigerian government for failing to deactivate more than five million unregistered SIM cards. The minister noted that the payment was for this first year and is the first tranche of the total payment.

MTN, Nigeria’s largest mobile operator, was initially fined 5.2 billion dollars (N1.04 trillion) for failing to deactivate more than five million unregistered SIM cards.

The fine on the South Africa-owned company was later reduced to N330 billion.

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