Nigeria’s telecommunication giant, MTN, has paid the sixth and final installment of N55 billion to the Nigerian Communications Commission (NCC), according to an online portal, The Cable. This completes MTN’s payment of the N330 billion negotiated settlement agreed between the NCC and the company in 2016. According to Tobechukwu Okigbo, MTN’s chief corporate relations officer, the successful resolution of the fine was the outcome of active collaboration between the NCC and MTN. He said: “We are very pleased to have completed the payment of the N330 billion 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 timeframes.
“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.” Recalled that in October 2015, the regulator slammed MTN with a fine of N1.04 trillion, following failure to cut off five million unregistered subscribers after a deadline set by NCC, in agreement with major telcos in the country. The fine was eventually reduced to N330 billion with a condition that MTN will list on the Nigerian Stock Exchange (NSE), a condition that has now been met by the telecom company. In a statement last week, NCC disclosed that MTN had paid N275 billion and had N55 billion to go, with nine days left on the clock. “Following a negotiated reduction of the N1.04 trillion fine on MTN Nigeria to N330 billion and in line with the staggered payment arrangement, MTN has, so far, paid N275 billion to the Federal Government,” NCC had said.
“What this means, according to the staggered arrangement, is that May 31, would be the deadline for the telecoms company to pay the sixth and final tranche of the balance of N55 billion,” the statement further added. According to TheCable, the NCC had not acknowledged to the press, the receipt of the final payment as at the time of this report.
Sports2 years ago
Highest goal scorers in world football history
News1 year ago
A mysterious discovery at Onitsha mansion
Perspectives1 year ago
Looters’ list: ‘You be thief, I no be thief…’
Sunday Extra10 months ago
Lagos residents lose sleep as ‘One Million Boys’ returns
Metro and Crime1 year ago
‘Cult day’ celebration, Kwara police reacts
News11 months ago
Lawal Daura: Discovery of N21 billion, guns, PVCs, has exposed Buhari’s hypocrisy – PDP
Show Biz11 months ago
Nomoreloss’ death sparked something that led me to Christ –Weird MC
Body & Soul1 year ago
Biggest actresses of the 90s who hardly appear in recent movies