MTN close to paying off N330bn Nigeria fine -NCC

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Prof Umar Danbatta, NCC Executive Vice Chairman
Prof Umar Danbatta, NCC Executive Vice Chairman
Prof Umar Danbatta, NCC Executive Vice Chairman
Prof Umar Danbatta, NCC Executive Vice Chairman

The Nigerian Communications Commission (NCC) says leading telecommunication outfit, MTN, has paid up most of its N330 billion fine.

MTN has paid N275 billion of the N330bn fine imposed on it for not disconnecting unregistered SIM cards.

The final 55 billion naira payment from MTN, Africa’s largest telecommunications firm, to the Nigerian government is due at the end of the month, the NCC said in a statement on Tuesday.

READ: Kaduna oil thieves forfeit houses, gas stations to FG

MTN was originally fined 1.04 trillion naira for failing to deactivate more than 5 million unregistered SIM cards, but it negotiated a reduced fine to clear its path to list its subsidiary on the Nigerian Stock Exchange.

Last week, shares began trading on the Nigerian Stock Exchange in Lagos in a 2 trillion naira flotation that marked the exchange’s second-largest stock by market value.

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