Business
MTN still owes N95bn fine —NCC
Executive Vice Chairman at Nigerian Communications Commission (NCC), Prof Umar Danbatta has disclosed that telecommunications giant, MTN Nigeria has paid a total of N235bn out of the N330bn fine imposed on the telecoms operator in August 2015 by NCC
Danbatta confirmed this in an interview with journalists in Abuja on Tuesday during a valedictory press briefing by the Minister of Communications, Mr Adebayo Shittu.
NCC had in October 2015 imposed a fine of N1.04tn on MTN for irregular registration of 5.2 million subscribers.
Read also: FG recovers N605bn through whistleblower policy – Finance Minister
However, after prolonged negotiation with both the regulatory agency and the Federal Government, the company had the fine reduced to N330bn.
He said, “We have succeeded in empowering Nigerians to own, control and manage one of the dominant telecommunications companies in the country by MTN listing on the Nigerian Stock Exchange.
“This is arising from the settlement agreement reached with MTN through the payment of N330bn to the government coffers of which they have paid N235bn thereby remaining the last tranche.
“MTN has been listed on the NSE and Nigerians can now buy shares and through this Nigerians will be financially empowered and socially transformed.”
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