MTN Nigeria Communications Plc, Friday, May 31st, 2019, paid the sixth and final installment of N55bn to the Nigerian Communications Commission (NCC), thus beating the May 31st payment deadline in completing the N330 billion negotiated settlement agreed between the NCC and the company in 2016.
MTN’s Chief Corporate Relations Officer, Tobechukwu Okigbo, told Business Hilights Friday evening that “the successful resolution of the fine was the outcome of active collaboration between the NCC and MTN”.
“We are very pleased to have completed the payment of the N330 billon negotiated settlement with the NCC. We are particularly gratified to be in a position to have fully met the terms of the settlement within the agreed time frames.
“I would like to thank the NCC for their constructive and collaborative approach to this issue, and believe that we emerge from it with a stronger relationship, focused on ensuring maximum value is delivered to our people, from a strong and growing telecoms sector,” Okigbo averred.
Recall that MTN and the NCC had reached a negotiated settlement in relation to the fine imposed on MTN in 2015 as a result of a dispute over the disconnection of unregistered SIM cards amongst its subscriber base.
The regulation which MTN had erred were part of SIM Registration Regulation which MTN and all telecoms service providers were signatory to in 2011.
Besides, few days ago, the leading African telecoms giant also met one of the key conditions for the fine which is getting listed on the Nigerian Stock Exchange (NSE). Industry pundits who barred their minds with our correspondent, hailed MTN Nigeria, saying with the recent listing and completion of the fine payment, the group is now as free as the air to grow their investments and unleash latest technology to deepen offerings.
