MTN Offsets N330bn Fine to NCC

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MTN Nigeria Communications Plc (MTN), has in addition to fulfilling its promise of listing on the Nigerian Stock Exchange (NSE), paid the sixth and final installment of N55 billion to the Nigerian Communications Commission (NCC).

The N55 billion payment according to the telco giant, complete its payment of the N330 billion negotiated settlement agreed between the NCC and the company in 2016.

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Tobechukwu Okigbo, MTN’s Chief Corporate Relations Officer, said 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” Okigbo said.

He further thanked the NCC for their constructive and collaborative approach to the issue, adding that he believes a stronger relationship, focused on ensuring maximum value will be delivered to the people from the emerging sector.

It will be recalled that MTN and the NCC 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.

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