Nigerian Communications Commission (NCC) has confirmed that MTN Nigeria has so far paid N165 billion out of the N330 billion fine imposed on it for not disconnecting unregistered sim cards.
NCC’s Executive Vice Chairman, Prof. Umar Garba Danbatta, announced this while receiving the MTN Group, led by its chairman in Nigeria, Dr. Pascal Dozie, at the commission’s headquarters.
MTN, according to Danbatta had paid more than 50 percent of the whole fine as it made latest payment of N55bn in march.
The breakdown for the payment according to the agreement made in 2016 was that N30bn would be paid into NCC’s treasury single account (TSA) with the central bank of Nigeria (CBN) over 30 days from June 10, 2016.
Other dates and amounts of the agreement were: March 31, 2017 (N30bn), March 31, 2018 (N55bn), December 31, 2018 (N55bn), March 31, 2019 (N55bn) and May 31, 2019 (N55bn).
MTN Nigeria was originally fined $5.2bn for failing to de-activate more than five million unregistered sim cards, but the fine was reduced in a settlement that paved the way for MTN to list its subsidiary on the Nigerian stock exchange (NSE).Please subscribe to our newsletter