MTN posts R15.8 billion profit in Nigeria

South African telco, MTN said in a statement on Tuesday that its Nigerian operation was likely to report close to R15.8 billion in profit for the 2015 full year.

The announcement followed reports by Nigerian scribe, This Day, which broke the figure of 190 billion naira in a story.

MTN notified shareholders that, while the final number was still being finalised with auditors, it was within the current estimate.

MTN Nigeria is currently under pressure, having been fined $3.9 billion (+/- R65 billion) in Nigeria for failing to disconnect users of unregistered SIM cards.

MTN makes about 37% of its revenue from Nigeria.

The group has filed a court challenge over the fine, which equates to more than double its annual average capital spending over the past five years, according to Reuters.

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MTN posts R15.8 billion profit in Nigeria