MTN asks Nigeria to forgive its $1 billion fine

MTN Nigeria is asking for a review of a $1 billion fine for its failure to deactivate more than five million unregistered SIM cards.

It negotiated a discount, allowing it to list on the Nigerian Stock Exchange.

A company spokesperson said the fine will be written off as an operational cost and that MTN has paid everything it owes to the Federal Inland Revenue Service (Firs).

Firs have not yet responded to MTN’s request.

Nigeria – where it has 58 million subscribers - is MTN’s largest market.

The Money Show’s Bruce Whitfield interviewed Lee Kasumba, Host at Africa State of Mind.

For more detail, listen to the interview in the audio below.

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