The Nigerian Communications Commission, the nation’s telecoms industry regulator, has confirmed the payment of N165 billion by the MTN, Nigeria’s largest telecoms operator by subscriber base.
The payment is part of the N330 billion fine imposed on the telco in August 2015 following its failure to disconnect SIM cards not properly registered.
The Nigerian authorities had initially imposed a N1.04 trillion fine on the telecoms operator but the amount was slashed after several appeals by MTN and diplomatic moves by the South African government. The fine was subsequently agreed to be paid instalmentally.
Speaking on the compliance of MTN with the agreement to pay the fine in instalments, the Executive Vice Chairman of NCC, Prof. Umar Danbatta, said the telecommunication company had paid N165 billion so far.
Danbatta gave this hint on Monday in Abuja when MTN Group, led by its Chairman in Nigeria, Dr Pascal Dozie visited the commission, expressed his delight over the telco’s compliance with the agreed payment terms so far.
He said: “I am happy to inform you that our agreement with MTN on how and when to pay the fine has been adhered to. Just last month, March, we received a cheque of N55 billion from MTN as part of the fine payment plan.
“This brought the total fine paid by MTN Nigeria to N165 billion, that is about half of the fine. It is a whopping sum of money and they have not defaulted and these payments they are making is consistent with the terms of agreement we reached with them”, the industry ombudsman added
He reiterated that the fine was imposed by the authorities to ensure industry discipline and to make sure that the rules of engagement were respected by all players.
The National Agency for Food and Drug Administration and Control (NAFDAC) has approved the Oxford/AstraZeneca COVID-19 vaccine for use in the treatment and prevention of coronavirus in Nigeria. The Director-General of NAFDAC, Prof. Mojisola Adeyeye, who gave this hint during a live briefing on Thursday, said that the vaccine can be stored at 2 to […]
The Senate has urged the Federal Government to improve funding for the Border Community Development Agency (BCDA) to mitigate the communities’ under-development and improve the welfare of people living in border communities. The call for funding of BCDA was sequel to a motion sponsored by Sen. Sadiq Suleiman and co- sponsored by 21 other senators […]
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has described the the nation’s capital market as crucial to Nigeria’s sustainable development. Ahmed stated this in a keynote address at the Investing and Capital Market conference held on Thursday in Abuja, She said: “We want a vision for a future Nigeria where the […]