NCC fine: MTN pays N30bn to FG

MTN fine

by Azeez Adeniyi

Telecoms firm, MTN has remitted N30 billion to the federal government in part settlement of a N330 billion fine imposed on it.

The telecoms group was fined for not disconnecting unregistered SIM cards, Reuters said quoting a source.

MTN has now paid N110 billion, after paying N80 billion in December.


The fine is due for payment in six instalments over three years.

MTN Nigeria was originally fined $5.2 billion last October but the fine was later reduced.

MTN, which operates in 20 countries, had set aside $600 million last year to pay the fine.

Tony Ojobo, spokesman of the Nigerian Communications Commission (NCC), had disclosed the terms of settlement last year.

Ojobo said by the terms of agreement, the money will be made in six tranches. He gave the breakdown as: N30 billion into NCC’s treasury single account (TSA) with the Central Bank of Nigeria (CBN) 30 days from June 10, 2016 (it has been paid).

He said other dates and amounts of the agreements were: March 31, 2017 (N30Billion)  which has just been paid, March 31, 2018 (N55Billion), December 31, 2018 (N55Billion), March 31, 2019 (N55Billion) and May 31, 2019 (N55Billion).

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