Nigerian dissent on MTN fine reduction

Nigeria's parliament will continue to investigate the legality of negotiating down a fine imposed on MTN, despite the South African telecoms company already striking a deal with Nigerian regulators, a legislator said on Monday.

MTN said on Friday, after months of talks, that it had agreed to pay a fine of $1.7-billion in a settlement with the Nigerian government for failing to deactivate more than 5-million unregistered SIM cards. The original fine was $5.2-billion

As part of the deal, MTN will take immediate steps to list shares in Nigeria and issue an apology, according to a copy of the agreement seen by Reuters.

Authorities have been cracking down on unregistered cards, concerned they are used for criminal activity in a country battling an insurgency by Islamist militant group Boko Haram.