SIM CARD REGISTRATION: NCC awaits MTN’s final N50bn fine payment today

Today (May 31) is the deadline given to telecommunications company, MTN Nigeria Plc to complete the N330 billion SIM registration fine slammed on it by the Nigerian Communications Commission (NCC).

Recall that the regulatory agency had in October 2015 fined the company N1.04 trillion for contravening the country’s SIM card registration regulations.

Upon a successful negotiation between the two parties, the fine was reduced to N330 billion while a payment of N280 billion has been made so far, in six tranches.

The final tranch of N50 billion is expected to be made today.

Read also: Groups accuse govt of shielding the wealthy from paying taxes

Ripples Nigeria reported that NCC had in a statement last week given MTN up till today (May 31) to complete the staggered payment.

“Part of the fallout of the negotiated terms of payment of the fine is the listing of MTN on the Nigerian Stock Exchange and this is being done.

“What this means, according to the staggered arrangement, is that May 31, 2019 would be the deadline for the telecoms company to pay the sixth and final tranche of the balance of N55bn,” it stated.

However, unconfirmed report has it that the Company which recently listed on the Nigerian Stock Exchange (NSE) had positioned itself to make the final payment into the government’s account today.

By Babatunde Alao…

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