By Dipo Olowookere
Leading telecommunications company, MTN Nigeria Communication Plc has confirmed completing the N330 billion imposed on it by the Nigerian Communications Commission (NCC) in 2015.
The last tranche of the fine, N55 billion, was paid by the telco on Friday, May 24, 2019, a statement posted on the website of the Nigerian Stock Exchange (NSE) said.
Some days ago, NCC, the telecom industry regulator in the country, had said MTN Nigeria had till Friday, May 31, 2019 to finish payment of the fine.
The company was fined in 2015 over its failure to disconnect unregistered SIM cards of subscribers on its network.
Network providers were directed by the Nigerian government to disconnect subscribers who failed to register their mobile numbers as part of efforts to curb crime in the country.
However, failure of MTN Nigeria to adhere to this directive forced the NCC to slam it initially with over a trillion Naira fine, which was later reduced to N330 billion after negotiations.
As part of the settlement agreement, the firm was also asked to list its shares on the NSE, which it finally did on May 16, 2019 by introduction.
In the statement yesterday, MTN Nigeria said it “paid the final instalment of N55 billion to the Nigerian Communications Commission (NCC) on May 24, 2019.”
“This completes payment of the N330 billion negotiated settlement agreed between the NCC and MTN Nigeria on June 10, 2016 in relation to the fine imposed on MTN Nigeria in 2015 as a result of a dispute over the disconnection of unregistered and improperly registered SIMs,” the company added.
more recommended stories
3Line Creates Visum to Support SMEs Business Operations
An innovative fintech company, 3Line Card.
Verve Global Card Makes First International Transaction
Leading payments technology and card business.
Unilever Young Entrepreneurs Awards Shortlists Publiseer
Africa’s digital content distribution platform for.
MTN Runs to KPMG Over Tax Dispute with FIRS
By Adedapo Adesanya MTN Nigeria has.
Airtel Introduces Cheap Home Broadband Plans
By Dipo Olowookere A definitive step.
Dozie Floats Sparkle After Diamond Bank Exit
By Dipo Olowookere Former Group Managing.
MTN Nigeria to Pay Shareholders N60bn August 16
By Dipo Olowookere The sum of.
Airtel Offers Affordable 4G Smartphones to Customers
Airtel Top Notch smartphone