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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