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Nigerian Fine: MTN Denies Paying Bribe

South Africa’s MTN denied it paid a bribe to Nigerian officials to reduce its fine to 330 billion naira ($1.05 billion) as part of settling a dispute over disconnecting unregistered SIM cards in the West African country.

MTN said in a statement on Friday there had been allegations that a top official in the Nigerian presidency took a payment towards reducing the fine.

The telecom group was initially fined $5.2 billion last October for failing to deactivate more than five million unregistered SIM cards. In June, MTN agreed to pay a reduced fine of 330 billion in a settlement with the Nigerian government and said the fine will be paid by MTN Nigeria over three years.

About Editor

Otunba Sayo Akintola is a 1992 graduate of Linguistics from the University of Ibadan, Oyo State. He holds a post-graduate diploma in Financial Management and MBA from Abubakar Tafawa Balewa University, Bauchi. He started his 12-year sojourn in journalism at the Nigerian Tribune in 1993 as Business and Economy reporter. He rose through the ranks to become the Group Business Editor of the nation’s oldest surviving private national newspaper, the Nigerian Tribune. He set up World Street Journal magazine in 2018.

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