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NCC fines MTN for not disconnecting unregistered sim cards; MTN close to paying off 330 billion naira fine
 
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Wed, 22 May 2019   ||   Nigeria,
 

Nigeria’s communications agency said on Tuesday that African telecommunications giant, MTN has paid 275 billion naira ($1 being 305.9000 naira to sum $898.99 million) following a 330 billion naira fine imposed on it for not disconnecting unregistered SIM cards.

The NCC added in a statement that the final 55 billion naira payment from MTN, Africa’s largest telecommunications firm, to the Nigerian government is due at the end of the month.

The Africa’s largest telecommunications firm was initially fined 1.04 trillion naira for failing to deactivate more than 5 million unregistered SIM cards, but it negotiated a reduced fine to clear its path to list its subsidiary on the Nigerian Stock Exchange.

Last week, shares began trading on the Nigerian Stock Exchange in Lagos in a 2 trillion naira flotation that marked the exchange’s second-largest stock by market value.

 

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