NCC fine: MTN pays N110 billion, to pay N220 billion

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[MTN]–Africa’s largest telecommunication, MTN has made a payment of 30 billion naira ($98 million) to the Nigerian government in part settlement of a 330 billion naira fine imposed on it for not disconnecting unregistered SIM cards, an MTN source told Reuters on Thursday.

The telecoms company has already paid 80 billion Naira of the total amount of the fine which is due for payment in six installments over three years.

 

The remaining tranches of the payment include that MTN will on March 31, 2018 (N55 billion), December 31, 2018 (N55 billion), March 31, 2019 (N55 billion) and the balance of N55 billion on May 31, 2019.

MTN Nigeria was originally fined $5.2 billion last October for failing to deactivate more than five million unregistered SIM cards, but the fine was first reduced to N780b and later to N330b in a settlement as earlier reported by the page.




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