South African mobile phone firm MTN to pay $1.7bn Nigeria fine

Nigeria is MTN's biggest market in Africa

South African mobile-phone giant MTN has agreed to pay $1.7bn (£1.1bn) to Nigeria over failing to disconnect unregistered Sim cards.

The firm was originally fined a record $5.2bn by the Nigerian Communications Commission (NCC) but the two sides have settled on a lower amount.

"This is the best outcome for the company," MTN executive chairman Phuthuma Nhleko said.
The fine was imposed amid fears that militants were using the phone lines.