MTN Nigeria Communications Plc (MTN), has paid the sixth and final instalment of N55 billion to the Nigerian Communications Commission (NCC). This completes MTN’s payment of the N330 billion negotiated settlement agreed between the NCC and the company in 2016.
MTN’s chief corporate relations officer, Tobechukwu Okigbo said the successful resolution of the fine was the outcome of active collaboration between the NCC and MTN.
In October 2015, the regulator slammed MTN 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 telecommunications company.
