MTN Nigeria makes $1.5b settlement offer over $3.5b fine

MTN Nigeria has reportedly made an offer to pay a settlement of $1.5 billion to end a dispute over a $3.9 billion fine imposed on it by the government of Nigeria for failing to disconnect unregistered SIM cards.

The Nigerian government imposed the fine on MTN Nigeria last year for failing to disconnect over five million subscribers who have not registered their SIM cards.

The Nigerian President, Mohamadu Buhari said recently that insurgent groups including Boko Haram were using unregistered SIM cards in perpetrating their violent acts on the Nigerian people.

The Reuters news service citing a document reported that, in a letter to the Nigerian government from MTN’s lawyer, former US Attorney General, Eric Holder, the company proposed a 300 billion naira ($1.5 billion) settlement to be paid through a combination of government bond purchases, cash instalments and network access to the Nigerian government.

By Emmanuel K. Dogbevi