MTN Nigeria has paid N80 billion of the N330 billion fine imposed on it for failing to deactivate more than five million unregistered SIM cards.
The Minister of Communications, Mr Adebayo Shittu, said in Abuja that the company paid the sum as the first instalment out of the three years given for the completion of the payment.
MTN was initially fined $5.2 billion dollars (N1.04 trillion) but the fine was later reduced to N330 billion.

“For the first year, they paid N80 billion, after paying the initial N50 billion, and they will have to pay for three years until they will complete the N330 billion.”
MTN, he said, had no choice because when the law was made, it was for every unregistered SIM card in use.
The fine, according to the law is N200, 000 and the law never anticipated that one company will be in violation to the tune of 5 million lines.
“It was inconceivable, so when the thing was added 200,000 times 5.2 million lines, it came to a trillion plus.

“When it happened, the MTN did four things; one they accepted that they were in default, two, they apologised for that and three they committed themselves never to allow such a thing to happen and number four, they asked for remission.”
He said the government had to look at a number of factors because they might pack up if they have to pay the amount as specified.
“We also knew that we invited the international community to come and invest and anything that will be done which will shake the confidence of international investors in Nigerian economy, we must avoid it.

“Consequently, we must not throw away the baby with the bath water, if they had packed up and left, let us assume all their staff are not more than 5, 000, it means all of those 5,000 will lose their jobs.
“Also those who made investment, who bought shares will lose their shares and the Nigeria banking sector would go into crisis,’’ he said.
The minister said that even in the court system, if one was fined and could not pay for one reason or the other, the person would ask for reconsideration either by way of appeal or bringing a motion.

http://www.vanguardngr.com/2016/12/mtn-paid-n80b-fine-adebayo-shittu/

lalasticlala

FTC ON BOXING DAY with dis tortoise speed empty hen connectivity. well mtn suppose pay more. well e no concern me cuz d money go still go d usuall way.
.
.
. bt anyhow Sha
.
.
just want to use this piece of space to send a very big shout out to my lady (ecj) Nd my family.
.
.
.
.
.and also to my fellow nairalanders especially those who shared, liked, Nd quoted my post, I pray the good Lord keep us and our loved ones away from harms way,
.
.
.
I pray next year bring more joy Nd happiness to us allllllllllllll. AMEN
..
.
.
.LONG LIVE NIGERIA
.
.
.
.
GOD BLESS RIVERS STATE.

Thoughful... This is a big lesson to other investors who violate Nigeria laws.

The EFCC should raid plenty tax auditors offices, and they should also watch state and federal tax officials, the level of venality from these department is insane. I once did a construction consultant project for a company I wont mention...
Their taxes when calculated was almost 98 million to the state alone, and their tax auditor fixed the papers to help them make it look like its 18 million nairea. And eventually, they only paid half that amount to the useless government of Ogun State which instead of employing real graduates, uses drop out Mapoly touts

Just hope they pay up.

Let them pay up our money pls...




Ndi ori

Evidence of them paying or I don't believe it.
These man that could have been bribed.

Hope the fine and others is used for d benefit of the masses

Meanwhile check my signature

Good development.

These remittances must be monitored so that it won't be stolen like Abacha loot again

Na wa o.

no realy...we kept our calm this time..

but if this south african idiioots are not careful,soon they will start hearing "south-africa must go!"...walahi...

KK....So i now knw wer my money is going to if i keep using my mtn line

Oo

All these amount i'm hearing i'm not understanding..

When they were still enjoying the commissions from 5million lines.
#greedy pigs

princemillla:
Thoughful... This is a big lesson to other investors who violate Nigeria laws.

but the money will end up in corrupt people's pocket though.
There is no lesson here because the average nigerian is still suffering.

They should also pay for the 500 they stole from me on Friday!

Alfa how come mtn is still doing anyhow even after the fine

That's why MTN has been on the front lines pressuring the NCC to increase data tarrifs and ban WhatsApp and Viber for the imbecilic excuse that it hinders GSM Network provider's profit.

I wonder why NCC Chairman has not resigned in shame yet.

Dem try naw, wey the money?

Why naira and not dollars ?

Technically corrupt people.


They were fined in dollars , what exchange rate are we we using to collect Naira in billions.

abia!

ok,so whr is d money o,abi nna don share am ni.awon ole gbogbo

Those unregistered sim cost us a lot!! From bh to kidnapping!! Fine of 1.8 trillion reduced to 380 wow! What a discount! Whenever I become president, we will revisit this case! Either u pay full or u leave!

So Why recession?

Why can't they pay the meagre amount at once? This is just not good cos when they where breaking d rules they did it with impunity. But wait oo, who hold the one dem don pay?

They paid it from stealing from Nigerians e.g 30% for airtime credit and dissapearing credits from customer account and other forms of jibiti employed by mtn