South African Mobile Telecommunications company MTN say they have set
aside $600m to settle its dispute with the Nigerian government.
The company announced on Thursday a surprise 5.2 percent increase in its
dividend to 1,310 cents per share, posting a 50 percent drop in Annual
profits and said while it has had a challenging year, it has set aside
$600m to pay the Federal government after the company was issued a $3.9b
fine for not ending sim card registration at the Nigerian
Communications Commission stipulated time.
Last week MTN made a 'good faith payment' of $250m towards reaching an
amicable settlement after the telecommunications giant withdrew a court
case challenging the FG's $3.9b fine.
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