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MTN asks Nigeria to forgive its $1 billion fine

6 August 2019 8:10 PM
Tags:
MTN
Nigeria
Africa
The Money Show
Bruce Whitfield
MTN Nigeria
lee kasumba
africa state of mind
africa business report
Nigerian Stock Exchange
africa business focus
Federal Inland Revenue Service
firs

The South African telecoms giant has 58 million subscribers in Nigeria, says Lee Kasumba (Africa State of Mind).

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.

Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:


6 August 2019 8:10 PM
Tags:
MTN
Nigeria
Africa
The Money Show
Bruce Whitfield
MTN Nigeria
lee kasumba
africa state of mind
africa business report
Nigerian Stock Exchange
africa business focus
Federal Inland Revenue Service
firs

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