Nigeria: MTN Has Paid N165bn of Its Fine So Far, NCC Reveals

Nigeria: MTN Has Paid N165bn of Its Fine So Far, NCC Reveals

The Nigerian Communications Commission (NCC) has lauded MTN Nigeria for paying N55 billion as the second tranche of the fine it incurred in 2015, bringing the total sum paid so far to N165 billion, representing over 50 per cent of the fine.

The Executive Vice Chairman of the commission, Prof. Umar Danbata, disclosed this yesterday when he received a delegation of MTN executives in his office.

MTN Nigeria incurred the fine as a result of default on the directives of the commission for all mobile phone service providers to disconnect all unregistered SIM cards on their networks.

After negotiating the initial record $5 billion fine to $1 billion, it made the first payment on March 31, 2017.

MTN and NCC reached an agreement enabling the telecoms firm to pay at installments over a period of three years and listing MTN shares on the Nigerian Stock Exchange (NSE).

The executive vice-chairman, while meeting with the executives, thanked telecoms company for not defaulting and keeping to the terms of agreement. “Part of the fine was paid not more than two weeks ago, we received a cheque of N55 billion. So far, MTN has paid more than 50 per cent of the fine, which translates to N165 billion and they have not defaulted.

“This payment they are making is consistent with the terms of the agreement reached,” he disclosed.

Speaking earlier, the Chairman MTN Nigeria, Mr. Pascal Dozie, said the company was in the country to have a touch and feel relationship with Nigeria, as Nigeria is of great importance to their operations.

He noted that a visit to NCC also offered the opportunity to pay the commission a courtesy call to discuss issues in the telecommunications sector.

Source: This Day



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