Close Menu
  • Homepage
  • News
  • Cloud & AI
  • ECommerce
  • Entertainment
  • Finance
  • Opinion
  • Podcast
  • Contact

Subscribe to Updates

Get the latest technology news from TechFinancials News about FinTech, Tech, Business, Telecoms and Connected Life.

What's Hot

8win Joins Forces with Leicester City Football Club in New Global Partnership

2026-01-22

Holiday Retail momentum and Business Travel Growth Drive National Economic Activity, Visa Consulting & Analytics Reports

2026-01-22

Leading Altcoin to Buy for Solana-Powered Banking Digitap ($TAP) Overtakes $1.49 SUI

2026-01-22
Facebook X (Twitter) Instagram
Trending
  • 8win Joins Forces with Leicester City Football Club in New Global Partnership
Facebook X (Twitter) Instagram YouTube LinkedIn WhatsApp RSS
TechFinancials
  • Homepage
  • News
  • Cloud & AI
  • ECommerce
  • Entertainment
  • Finance
  • Opinion
  • Podcast
  • Contact
TechFinancials
Home»News»Nigerian Govt confirms MTN’s R3.8bn payment
News

Nigerian Govt confirms MTN’s R3.8bn payment

Gugu LourieBy Gugu Lourie2016-02-27No Comments2 Mins Read
Share Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link

 

The Nigerian Ministry of Communications has confirmed the payment of R3.8 billion (50 billion Naira or $250 million) by MTN Nigeria as part payment for the $3.9 billion fine imposed by the country’s communication watchdog, the Nigerian Communications Commission (NCC), according to a media report. By Staff Writer.


Last year, the NCC imposed the fine on MTN Nigeria for its failure to disconnect 5.2 million subscribers who did not register their SIM cards.

On Wednesday, MTN informed investors that it has agreed a without prejudice a good faith payment of R3.8 billion (50 billion Naira or $250 million) to the Federal Government of Nigeria on the basis that this will be applied towards a final settlement.

The Nigerian Ministry of Communications  late on Friday confirmed the $250 million payment by MTN.

Victor Oluwadamilare, the spokesperson to the Nigerian Minister of Communications, in a telephone interview with Nigeria’s PREMIUM TIMES, confirmed that the ministry has collected the payment from MTN on behalf of the Federal Government of Nigeria.

“I can confirm to you that MTN Nigeria has paid the sum of N50 billion to the federal government as part payment for the fine,” Oluwadamilare told PREMIUM TIMES. “I am sure during the coming week; further negotiations would hold on the matter. MTN wants to negotiate with the federal government. As a listening administration, government is willing to listen.”

He also confirmed to the newspaper that the suit against NCC had been withdrawn by MTN to pave the way for further discussions.

Nigeria’s PREMIUM TIMES reported on Friday that it seems the Nigerian government had sidelined the NCC and strike a secret deal with MTN.

On Thursday, the NCC refuted MTN claims.

“We, NCC, are not privy to it (agreement to withdraw a case from court and pay $250 million by MTN). We do not have anything to do with it. We do not have any evidence of payment of any money to the Nigerian government,” Director of Public Affairs, NCC, Tony Ojobo, told the Vanguard newspaper.

 

  • Email TechFinancials.co.za at [email protected]

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Gugu Lourie

Related Posts

Cartesian Capital Expands Investor Toolkits With JSE Listings

2026-01-20

Kili Technologies: Unlocking Africa’s Clean Energy Potential With Trusted Data

2026-01-19

Luminance Expands In Africa Amid Demand Surge

2026-01-15

Mpumalanga’s Top Matric Achiever Luyanda Ndlozi Rewarded With Brand New Car

2026-01-14

Say Hello To Haier: Intelligent Appliances Designed For SA’s Future

2026-01-14

Victory For Members: MediCheck Forces Reversal of Discovery Health’s R170 Million “Clawback”

2026-01-12

Volvo Recalls 372 EX30s In South Africa Over Battery Fire Risk

2026-01-09

Wholesale And Retail SETA Funds 50 SA Students To Study E-commerce In China

2026-01-09

OUTsurance To List On A2X Markets

2026-01-07
Leave A Reply Cancel Reply

DON'T MISS
Breaking News

Directing The Dual Workforce In The Age of AI Agents

We will be the last generation to work with all-human workforces. This is not a…

Huawei Says The Next Wave Of Infrastructure Investment Must Include People, Not Only Platforms

2026-01-21

South Africa: Best Starting Point In Years, With 3 Clear Priorities Ahead

2026-01-12

How SA’s Largest Wholesale Network is Paving the Way for a Connected, Agile Future

2025-12-02
Stay In Touch
  • Facebook
  • Twitter
  • YouTube
  • LinkedIn
OUR PICKS

Mettus Launches Splendi App To Help Young South Africans Manage Their Credit Health

2026-01-22

The EX60: A Volvo That Talks Back

2026-01-20

Over R270M In Phuthuma Nathi Dividends Remain Unclaimed

2025-11-27

Africa’s Next Voice Revolution, When 5G Meets AI

2025-11-21

Subscribe to Updates

Get the latest tech news from TechFinancials about telecoms, fintech and connected life.

About Us

TechFinancials delivers in-depth analysis of tech, digital revolution, fintech, e-commerce, digital banking and breaking tech news.

Facebook X (Twitter) Instagram YouTube LinkedIn WhatsApp Reddit RSS
Our Picks

8win Joins Forces with Leicester City Football Club in New Global Partnership

2026-01-22

Holiday Retail momentum and Business Travel Growth Drive National Economic Activity, Visa Consulting & Analytics Reports

2026-01-22

Leading Altcoin to Buy for Solana-Powered Banking Digitap ($TAP) Overtakes $1.49 SUI

2026-01-22
Recent Posts
  • 8win Joins Forces with Leicester City Football Club in New Global Partnership
  • Holiday Retail momentum and Business Travel Growth Drive National Economic Activity, Visa Consulting & Analytics Reports
  • Leading Altcoin to Buy for Solana-Powered Banking Digitap ($TAP) Overtakes $1.49 SUI
  • Digitap ($TAP) vs. $1.89 XRP: Why this Crypto Presale is Up 250% and Scaling
  • Solana Price Prediction: Will SOL Reclaim $300 By Years End As Memecoins Look Set To Explode On The SOL Ecosystem
TechFinancials
RSS Facebook X (Twitter) LinkedIn YouTube WhatsApp
  • Homepage
  • Newsletter
  • Contact
  • Advertise
  • Privacy Policy
  • About
© 2026 TechFinancials. Designed by TFS Media. TechFinancials brings you trusted, around-the-clock news on African tech, crypto, and finance. Our goal is to keep you informed in this fast-moving digital world. Now, the serious part (please read this): Trading is Risky: Buying and selling things like cryptocurrencies and CFDs is very risky. Because of leverage, you can lose your money much faster than you might expect. We Are Not Advisors: We are a news website. We do not provide investment, legal, or financial advice. Our content is for information and education only. Do Your Own Research: Never rely on a single source. Always conduct your own research before making any financial decision. A link to another company is not our stamp of approval. You Are Responsible: Your investments are your own. You could lose some or all of your money. Past performance does not predict future results. In short: We report the news. You make the decisions, and you take the risks. Please be careful.

Type above and press Enter to search. Press Esc to cancel.

Ad Blocker Enabled!
Ad Blocker Enabled!
Our website is made possible by displaying online advertisements to our visitors. Please support us by disabling your Ad Blocker.