It has been confirmed that MTN has paid the sum of ₦30billion which is a part payment of the fine of ₦330 billion imposed on the telecom by Nigerian Telecommunications Commission( NCC).
MTN has paid ₦30 billion as part of the fine. The payment is in furtherance of the agreed timetable for payment of the total fine- Tony Ojobo, Spokesman for Nigerian Communications Commission (NCC)
Over failure to follow the directive given by NCC to disconnect about 5.1 million unregistered subscribers, MTN in 2015 was at first fined the sum of ₦1.04 trillion. Following months of intense negotiations, and persuasion the NCC was considerate enough to reduce the fine to ₦330billion. And the agreement for the medium of payment is that the fine will be paid over the span of three years.
- ₦50 Million – to the government- Paid
- ₦30 Billion – NCC Treasury Single Account( Between June 10, 2016 and 30days after the agreement.)
- ₦30 Billion – March 31, 2017- Paid
- ₦55 Billion – March 31, 2018
- ₦55 Billion – December 31, 2018
- ₦55 Billion – March 31, 2019
- ₦55 Billion – May 31, 2019
In 2016, apart from consenting to pay the total sum of ₦330billion, MTN also agreed to ”subscribe to the voluntary observance of the Code of Corporate Governance for the Telecoms Industry and would ensure compulsory compliance when the said Code is made mandatory for the telecommunications industry.” This is one of the reasons why MTN is adhering strictly to the NCC directive that all sim registration must take place in brick and mortar structures.
MTN has two more years to complete payment of it’s fine. As much as MTN keeping to its own end of the deal is important, it is also cogent that the Nigerian Communications Commission give an insight on what the money will be used for.